Asset Management

Asset Management is a core business function in almost every industry. It can be particularly challenging when it encompasses fixed and portable equipment, tools, people and the associated workflows.
The primary goal of Asset management is to ensure assets are available for use when they are required while optimising the balance of performance, risk and cost throughout their lifecycle. Well executed Asset management strategies are best supported by high quality, reliable data to support evidence based decision making.

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Asset Management

How it works?

CORE PoET provides Smart Edge Sensor based Asset Management capabilities which enables the collection of real time asset location and utilisation data.
Smart Edge Sensor tags can be placed on assets, which enables them to be located and positioned appropriately for safe and efficient operational delivery. Additionally, utilization of shared assets can be analysed and improved for better cost management.
The tags enable asset visibility by sending frequent bursts of data over the network to CORE PoET’s cloud/on-premise platform. CORE PoET utilises this data to provide comprehensive asset information such as location, status, dwell time, operational workflow status, utilisation and other statistics.

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Features & Benefits

Tools & Equipment Monitoring

For better cost efficiency and logistics, many organisations manage centralised equipment storage models. Managing equipment models in such a manner can end up being costlier and more complex. There are also risks associated with equipments being unavailable when required which can result in reduced productivity.

CORE PoET’s Asset Management Solution leverages advanced wireless IoT sensor technology to ensure:
  • Smart Edge Sensors can track and locate assets faster, more accurately and in real-time.

  • Prevention of accidental introduction of assets under maintenance in active operations.

  • Equipments aren’t unnecessarily replaced while being assumed to be lost or stolen, resulting in additional expenditure.

Optimizing Asset Usage and Costs of Rental Assets

Its imperative for organisations to maintain their High Value and Rental assets optimally to ensure cost efficiencies.

Using CORE PoET’s Asset and Dwell Time Tracking capabilities:
  • Rental and High Value Assets can be proactively managed with real time visibility of location and utilization.

  • Rental period end alerts can be generated for the efficient collection and removal of rental equipment from the facility. This ensures that additional costs for late return are avoided

  • Zero movement dwell time alerts can be configured so underutilised rental equipment is efficiently managed

Theft Monitoring & Prevention

Many industries face the risk of asset theft. This can subsequently increase the risk of critical equipment not being available when needed. Another common scenario is when equipment which is perceived to be stolen or missing is replaced resulting in unnecessary expenditure.

CORE PoET addresses these challenges by:
  • Configuring movement alerts and rules for different use cases and asset types

  • Detecting the unauthorized movement of equipment in real time

  • Alerting multiple stakeholders during such an event in real time

  • Efficient validation of on-premise tools and equipment

Geofencing

Many industrial environments involve a constant movement of vehicles, people and assets as part of their daily operations. In such environments, there is an increased likelihood of losing track of these mobile elements, leading to operational inefficiencies

CORE PoET provides smart Geofencing solutions which:
  • Configure virtual boundaries defining the ideal operational locations of people, vehicles or products which are tagged by Smart Edge Sensors

  • Continuously track these movable assets in large facilities to prevent mishaps

  • Generate alerts when assets enter or exit virtual boundaries

Critical Spares Management

Traditional inventory management systems run the risk of being unable to predict stock shortages due to lack of real-time view of operations. Additionally, manual inventory management can be time consuming, prone to human error and lacks real time visibility of critical spares stocks.

CORE PoET, backed by Smart Edge Sensors, facilitates intuitive inventory management which:
  • Provides configurable Minimum/Maximum level settings per item at site and zone levels

  • Keeps inventory in check and can automate replenishment orders thus facilitating most comprehensive PAR level management.

  • Prevents stock-outs of key supplies in the warehouse.

  • Integrates with existing fixed asset management system for comprehensive inventory management.

Condition Monitoring

Many industries face unplanned downtime due to adhoc asset failure and breakdowns. Unplanned asset failure can often result in operational disruption, adverse safety scenarios, loss of revenue and a negative customer experience.
Early identification of Asset degradation enables proactive and cost effective fault resolution. So far, traditional condition monitoring solutions lack flexibility and scalability. They can be quite complex to implement as well.
CORE PoET provides industry’s first end to end condition monitoring module that offers the flexibility of implementing multiple wireless technologies. This helps in optimally catering to equipment monitoring use cases across industries. It leverages the use of Smart Edge SensorsT to monitor variables like motion, temperature, light, humidity or RMS.

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Condition Monitoring

How it works?

CORE PoET’s Smart Edge Sensors collect motion, temperature, geomegantic, light, humidity or RMS data from the asset they are affixed to. This data is transmitted, analysed and visualised in CORE PoET while applying advanced Machine Learning algorithms. This enables identification of specific performance parameters of an asset.
This data is also used to calibrate and create a unique profile of an asset. During continuous monitoring of an asset, its current performance parameters may end up differing from its calibrated unique signature specifications. During such an occurrence, CORE PoET activates the notification mechanism to notify personnel or other systems for proactive maintenance.

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Features & Benefits

Identify problems prior to their escalation

Even if slight degradation in asset performance is not detected and managed in a timely manner, it can escalate into a more serious and expensive problem in future.

CORE PoET’s Condition Monitoring solution ensures:
  • Automated calibrating and benchmarking an Asset’s ideal state performance

  • Continuous monitoring of an Asset, comparing its performance with ideal state benchmark and notifying deviations from ideal state.

  • The notification can be created as a service order request and sent to appropriate personnel along with details of the fault.

  • Maximising equipment and Asset uptime and managing the Risk associated with failure.

Decrease instances of downtime

Unplanned downtime negatively affects site operations, employee productivity and various other stakeholders associated with a facility.

CORE PoET’s Condition Monitoring Solution facilitates
  • Real-time view of an assets overall health and operating performance.

  • Cost effective and efficient decision making to keep the asset working optimally.

  • Data driven evidence based decision making to determine the optimal maintenance regime for each Asset

Improve Staff and Contractor productivity

Manual monitoring of machines and processes requires a fairly large and competent team. In addition, a significant investment of their time is required to accurately diagnose operational challenges. This can result in loss of employee productivity and hence impact a company’s bottom line.

CORE PoET’s Condition Monitoring Solution ensures that:
  • Fewer staff is utilized to monitor machine condition as smart edge sensors can monitor the machines in real time and provide necessary indicators of failures more accurately.

  • Guesswork is reduced due to precise insights gathered from sensor data

  • Pre-emptive measures are facilitated in event of asset performance anomalies.

People Safety and Security

Many industries face challenges in ensuring secure monitoring of workers within their surroundings. Lack of appropriate people safety tracking mechanisms may result in the staff being prone to injury from falls, fatigue, workplace hazards etc. Furthermore, organizations need to safeguard their staff in event of mass evacuation, duress and also take proper measures to avoid unauthorised movement. .
As with any technology and use case, privacy is of utmost concern for both the individual and the business. CORE PoET has extensive configurable security rule settings to enable control over how an individual can be located, his identity and what authorisations are required.

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Asset Management

How it works?

Each staff member is assigned a wearable Smart Edge Sensor to facilitate real time visibility of their location in an event of emergency evacuation or injury.
These wearables can feature a duress button which monitors staff whereabouts in an indoor/outdoor facility and even remote locations. This feature also empowers the staff to initiate a distress signal when they are facing a threat. CORE PoET receives real time location data as well as vital health information of staff from the sensors in these wearables
CORE PoET can for example, share this data with a central security system whilst simultaneously providing notification to the nearest HSSE Manager in the event of an emergency. Safety teams can then use the CORE PoET intuitive dashboard to manage the alert and co-ordinate the appropriate response.

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Features & Benefits

Real Time Staff Location Tracking

Many Industries struggle to efficiently account for staff location in real time to ensure their safety. In some industries employing temporary workforce, its important to monitor staff location to ensure access to unauthorised locations is detected quickly and responded to in a timely manner.

CORE PoET’s Real Time Staff Location and Duress management system ensures:
  • Staff members are locatable in real-time in the event of a security or safety issue.

  • Visibility on their movement history empowers companies with deeper insight into operational risks and enables opportunities to improve personnel safety.

  • Induction and certification checks of staff through enterprise collaboration tool, before commencement of shift

Automated Mustering

An effective Mustering exercise enables companies to safeguard their employees in emergency situations.

CORE PoET enables efficient Mustering in large facilities by:
  • Deploying Smart Edge Sensors at key locations in a facility to monitor worker location.

  • Displaying current worker location to supervisors and how well they are progressing towards the Mustering Point during an event

  • Storing historical movement data associated with workers, enables Operational Teams to analyse Mustering efficiency and identify potential risk and issues as well as opportunities for improvement.

Area and Access Management

The security systems governing multi building or multi site facilities should ideally track real time location and movement of staff in the facility based on their access authorization levels. This plays a vital role in preventing theft, staff injury and improving organizational safety.

CORE PoET’s area and access management with the deployment of Smart Edge Sensor solution ensures:
  • Management and visibility of access at a zone level to provide greater awareness and control of defined areas

  • Receive alerts in the event of unauthorised entry or deviation from approved routes

Smooth Evacuation Monitoring

Smooth evacuation of workers during emergencies is of paramount importance.

CORE PoET’s evacuation monitoring solution enables:
  • Critical event notifications to workers on their mobile phone or 2 way radios through CORE PoET’s instant notification and messaging tool

  • Configuring Smart Edge Sensors at facility entry and exit points to detect the individual staff members. This makes evacuation faster and staff validation more efficient.

Lone Worker Solution

Managing visibility of whereabouts of workers in remote areas is often a challenge for organisations, in terms of technology, functionality, practicalities and cost.

CORE PoET ensures that organisations can locate and manage the safety of their remote workforce by:
  • Leveraging wearable Smart Edge Sensor tags which locate a remote workforce effectively

  • Setting specific Dwell time rules to enable the generation of alerts in event of Dwell time being exceeded for defined operational scenarios.

  • Generating automated prompts for a Lone Worker to confirm they are safe. In the event of a prompt not being acknowledged, the solution triggers an alarm to instigate the appropriate emergency response.

  • Establishing geofence boundaries to notify when lone workers enter or exit an assigned area.