Asset Management

Asset management is a core business function in almost every industry and can be particularly challenging when assets include 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. 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, utilisation of shared assets can be analysed for improved 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 improved cost efficiency and logistics, many organisations manage centralised equipment storage models. Managing equipment in such a manner can become costlier and more complex without the systems to support it. There are also risks associated with unavailable or unlocatable equipment which can result in a safety incident or 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 into active operations.

  • Equipment is not replaced when assumed to be lost or stolen, which can result in additional unnecessary expenditure.

Optimising Asset Usage and Costs of Rental Assets

Visibility of assets is vital for organisations to maintain their high value and rental assets at optimal levels 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 utilisation.

  • Period End alerts can be generated for the efficient collection and removal of rental equipment, ensuring additional costs for late returns are avoided.

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

Theft Monitoring & Loss Prevention

Many industries face the risk of asset theft or shrinkage. This can increase the risk of critical equipment not being available when needed as well as adding significant cost. Another common scenario is equipment that is perceived stolen or missing being 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 unauthorised 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 lack real time visibility of critical inventory.

CORE PoET, combined with smart edge sensors, facilitates intuitive inventory management which:
  • Provides configurable minimum/maximum stock levels at site and zone levels.

  • Monitors inventory levels in real time.

  • Prevents stock-outs of key equipment and inventory.

  • Can automate stock replenishment orders to supply chain or integrate with existing business solutions.

Condition Monitoring

Many industries encounter downtime due to unplanned asset failure and equipment breakdowns. Unplanned outages often result in costly operational disruption, adverse safety scenarios, loss of revenue and a negative customer experience

Early identification of asset degradation enables a proactive response and resolution which is safer, efficient and more cost effective. For many industries condition monitoring solutions can lack the flexibility and scalability required to leverage all the improvement and preventative opportunities which exist.

The challenges of flexibility and scalability are largely due to the diversity of facilities, assets under management and the ICT infrastructure available to execute condition monitoring across all use cases.

CORE PoET’s Condition Monitoring module combined with smart edge sensors provide the flexibility to implement IoT across multiple communications technologies for example BLE, Wi-Fi or LoRa. CORE PoET’s smart edge sensors are available in numerous form factors and configurations to support most condition monitoring needs and can be deployed in most environments with complete ICT network flexibility.

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Condition Monitoring

How it works?

CORE PoET’s smart edge sensors can collect motion, temperature, geomagnetic, light, humidity and RMS data from the asset they are affixed to.

This data is transmitted, analysed and visualised in CORE PoET which applies advanced machine learning algorithms to identify the specific performance parameters and behaviours of an asset. This data is used to calibrate and create a unique profile of an asset.

If an assets’ performance parameters differ from its calibrated unique profile, CORE PoET automatically activates numerous configurable notification workflows to inform personnel or other systems that action is required.

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Features & Benefits

Identify problems prior to their escalation

Even slight degradation of asset performance, if not detected and managed in a timely manner, can escalate into larger and more expensive problems later.

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

  • Continuous monitoring of an asset, comparing its performance with calibrated benchmark and notifying when deviations from ideal state are detected.

  • “One Click” work order creation capability with asset telemetry for better fault diagnosis.

  • Maximising equipment and asset uptime whilst proactively managing the risk of failure.

Decrease instances of downtime

Unplanned downtime negatively affects operations, productivity, financial performance, reputation and stakeholders associated with a facility.

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

  • Machine learned indicators to proactively optimise asset performance.

  • Data to support evidence based decision making when planning, executing and optimising the maintenance regime for each asset.

Improve Staff and Contractor productivity

Manual monitoring of machines and processes can often require an extensive and competent team for which a significant investment of the team’s time is required to accurately diagnose operational performance over time.

CORE PoET’s Condition Monitoring Solution ensures that:
  • Fewer staff are required as smart edge sensors monitor machines in real time.

  • Guesswork and desktop assessments make way for precise insights gathered from sensor data.

  • Proactive measures are efficiently actioned in the event of sub-optimal asset performance.

  • “One Click” work order creation capability.

People Safety and Security

Many industries face challenges in ensuring the safety and security of workers within diverse and often complex physical environments.

A lack of appropriate people tracking capability may result in personal injury, exposure to workplace hazards, increased fatigue in harsh environments and lack of staff visibility in remote areas.

Additionally, organisations may require location visibility to safeguard staff in event of evacuation, personal duress or avoid unauthorised area access.

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 appropriate business and privacy configurations.

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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. CORE PoET can receive real time location data as well as vital health information of staff from this wearable smart edge sensor. These sensors can also feature a personal duress button which enables staff to initiate a distress signal when facing a threat or safety issue.

CORE PoET can share this data with a central security system whilst simultaneously notifying to the nearest HSSE Manager in the event of an emergency. Safety teams can 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, including those with a temporary or transient workforce can struggle to efficiently account for staff location in real time to ensure their safety. This challenge is made more complex in multi-room or multi-site operations.

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 of movement including historical movement can be analysed for deeper insight of safety improvement opportunities.

  • Real time visibility of staff can be linked with daily induction and job task compliance through CORE PoET’s collaboration tool.

Automated Mustering

Life-threatening situations at potentially hazardous work sites can be avoided through accountability, visibility and progress monitoring of individuals during mustering and evacuation.

CORE PoET’s Mustering solution enables:
  • Emergency notifications to workers on their mobile phone or 2-way radios through CORE PoET’s instant notification and messaging tool.

  • Smart edge sensors at facility entry and exit points to detect and account for individual staff members in real time.

  • Display of muster location on a map, real time count of staff at the muster point and staff still approaching muster points during emergencies.

  • Visibility of personnel unable to evacuate and a visual aid for response co-ordination.

Area and Access Management

Access control and CCTV systems alone may not provide the full functionality required to manage complex, medium-high risk environments or high people traffic areas where access control is limited.

Integrating CORE PoET and smart edge sensors with area and access management systems can enable:
  • Early notification and visibility of people access at a zone and role based level.

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

  • Integration with existing security or access management systems to automate door locking, CCTV activation or PTZ.

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

Having visibility of the whereabouts of workers in remote areas is 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:
  • Using wearable smart edge sensor tags to locate a remote worker effectively.

  • Configuring specific dwell time parameters to alert in the event of dwell time being exceeded.

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

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