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Showing posts with the label asset management System

How Digital Transformation Can Set Trends In Chemical Industry

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  Digital transformation presents new ways of working, discovering new opportunities, and driving enterprises to a new level. Talking about the chemical sector, these companies can also leverage the benefits of new technologies and the fourth industrial revolution (Industry 4.0) to eliminate downtime and improve profitability. In other words,  digital transformation solutions  can be a game-changer for the thriving chemical sector. Expectations of Chemical Companies from Digital Transformation Solutions Digital transformation has started offering multiple benefits to companies irrespective of their scales and business models. Emerging technologies like IoT, digital twins, and AI can be integrated into digital transformation software to get the desired outcome. What’s more, companies can easily take the advantage of an innovative approach and drive growth through digital transformation. A GPCA survey reveals that 63% of the chemical company CEOs have kept digital transform...

Maintenance 4.0: Scale the reliability, performance, and safety of your assets

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  Digital manufacturing, the fourth industrial revolution aka   Industry 4.0 Solutions   is the collated technological offering that has revolutionized value creation in the manufacturing industry! In 2022, the key efficiencies that the manufacturing industry highly seeks are: flexible automation, connectivity and intelligence. These combine to provide optimal industrial production. The vision of Maintenance 4.0 is also to ensure that the production process should be majorly automated. It began in the 1780’s where the Industry 1.0 was characterized using machines powered by water and steam to the 2020’s where big data, artificial intelligence, Internet of Things join hands to automate formerly manual-only production tasks. Well then what exactly is the biggest positive of 4.0? Maintenance! Unless and until all the production capabilities are well maintained; achieving optimal production is nearly impossible. But by combining maintenance with the  digital transformati...

How IoT Technology in Asset Management Reduces Operational Costs

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Every enterprise has to spend a lot of money on operational expenses. However, with a proper asset management system in place, entrepreneurs can reduce such expenses. Be it a manufacturing sector or a utility sector, the productive utilization of available assets is the key to profitability. But then, such utilization needs effective tracking, measuring, and monitoring of assets. Here, IoT in asset management system technology lends a helping hand. The IoT technology is integrated into the asset tracking software for tracking and monitoring assets in real-time. IoT-based asset tracking is a faster and cost-effective way to stay ahead of the curve by ensuring effective management of physical assets. Let’s understand IoT asset tracking and management and how it contributes to reducing various costs over the period. But before digging deep into it, we need to discuss the key features of asset tracking systems.  Asset Tracking- Importance and Introduction As the name suggests, asset tr...