Why Is Asset Tracking Important in a Factory?

Asset tracking in a factory is crucial for ensuring productivity and efficiency. As each asset is scanned and the data is stored in a database, it can make fetching important details and real-time monitoring easy. An asset management system enhances accurate asset management, streamlines audits, and reduces labor costs. It is vital for preventing errors, minimizing downtime, and ensuring a well-managed manufacturing process.

How Does Asset Tracking Improve Asset Management?

Asset tracking improves inventory management practices by consolidating all vital pieces of information from multiple factory units into one centralized platform. This not only reduces instances where inaccurate data is passed on from one employee to another but also gives everyone equal access to the system. With real-time insights into assets, the asset tracking system minimizes business losses by checking the availability and location of assets and ensuring teams have all they need for manufacturing goods.

How Is Real-Time Tracking Implemented in Operations?

Real-time tracking of factory operations is achieved using IoT technology, which enables audio-visual devices to track and provide instant data on factory assets and their whereabouts. These devices are configured to monitor the start and completion of each process, tracking where assets are used and in how many units.

Is RedBeam Capable of Supporting Preventative Maintenance Activities?

Yes, it is. RedBeam's asset tracking solution comes with the ability to write maintenance logs, which helps minimize episodes of costly downtime and extend the life of factory assets.

What Are the Key Elements of Industrial Asset Management?

Key elements of industrial asset management include asset identification, condition monitoring, prioritization of assets, maintenance planning (which should include level of service analysis and lifecycle cost analysis), funding strategy, data analytics and reporting, and regulatory compliance, among others. By building these elements into your asset management program, you can effectively lower the costs of repairs and upgrades of aging assets.

Industrial Asset Management Software

Effective business performance requires machine dependability, material availability, and coordinated logistics between all crew members and departments.

Industrial asset management software refines factory asset tracking and manufacturing operations with cost-effective oversight of your company’s valuable assets through in-depth reporting and administering accountability.

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Meet RedBeam

RedBeam’s industrial asset management software ensures peak performance. The software helps prevent costly repairs of manufacturing equipment by streamlining the fixed asset management process required to monitor and maintain the location, status, and usage of physical assets across any manufacturing facility. The cloud-based platform seamlessly connects the entire asset management lifecycle, including barcode and RFID management, smart data import functionality, automated audit tracking, roles-based access, customizable data security practices, and robust reporting capability.

With this increased transparency and oversight of industrial asset management, RedBeam’s software automatically tracks the location and status of all raw materials, tools, and equipment inside manufacturing facilities. This centralized visibility of assets provides transparency across operations, simplifies the management of material flows, and reduces the propensity for human errors in production.

Explore RedBeam's Asset Tracking Features

Accelerate Productivity and Performance
Increase asset visibility and oversight with real-time information.
The effectiveness of asset management and operational reliability depends on the accuracy of the information in the management system. Reduce the propensity for errors, unnecessary downtime, and delays by consolidating critical asset data across multiple locations with RedBeam’s easy-to-use industrial asset management software.
Ensure Safety and Compliance
Track maintenance and training requirements across work sites.
Manufacturers must comply with safety standards, government regulations, and equipment operating requirements. Our user-friendly factory asset tracking software automatically creates accurate records for each fixed asset to help manage maintenance timelines, ensure compliance with various standards and policies, and ensure standardization of practices across multiple work sites.
Automate Data Collection and Reporting
Streamline time and resources with the automatic generation of audit trails.
Every change made to assets in the RedBeam system is automatically date-, time- and user-stamped for audit control purposes, freeing up personnel to shift attention from manually tedious tasks to higher priority objectives. Store your asset data in a centralized, user-friendly platform where employees can access and customize reports efficiently.

Calculate Your Savings With
RedBeam's Asset Tracking

RedBeam’s comprehensive and automated approach to industrial asset management improves equipment reliability, optimizes production efficiency, provides safeguards to required maintenance and compliance tracking, and provides more accurate operational forecasting. Quickly assess your savings potential today with RedBeam’s ROI calculator.

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Why Thousands of Leaders Trust RedBeam for Asset Tracking

As a loyal RedBeam client, I appreciate how the software enables my company to effortlessly locate asset items, facilitating efficient reviews for depreciation considerations and evaluations of end-of-life equipment.

Gail N, Administration Supervisor, Oil & Energy

Tracking Made Easy®

Platform Features

Mobile Ready
Asset Tagging
Store & Forward
Smart Data Import
Custom Fields
Rest API
Detailed History
Role-Based Access
Web-Based
Secure Data
Unlimited Locations
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Why Industry Leaders Use
Asset Tracking Software

Every manufacturing process requires industrial equipment, which makes monitoring the condition and performance of each piece of equipment critical to manufacturing operations. With RedBeam’s industrial asset management software, manufacturers can improve the efficiency of their operations with automation and real-time insights into core business functions such as inventory management, preventative maintenance, and safety oversight.

RedBeam makes tagging and editing asset information effortless through laser scanners, smartphones, or tablets. The centralization of records makes it easy to see the specific location, condition, maintenance logs, and warranty information related to each asset. This includes equipment information like purchase dates, user manuals, hours of use, and maintenance schedules. Additionally, as employees check assets in and out, real-time tracking and log capture of each asset’s use, condition, and care routines are recorded. Maintenance recommendations and procedural guidelines can also be added to each asset record to provide automated care alerts. With this information readily available, manufacturers can quickly develop servicing schedules to ensure optimal performance and limit unnecessary downtimes.

Time constraints, large inventories, and poor visibility all lead to complications in the manufacturing industry, but fixed asset tracking can resolve these issues. Learn how we're helping the manufacturing industry accelerate audits by 70% while decreasing labor costs and operational expenses.

Fixed Asset Management 101: Best Practices for Success

May 5, 2023 · 1 minute read

The success of your organization depends on the people who make up that team. But to keep up with day-to-day operations, those people depend on a variety of assets like vehicles, computers, ...

Want to view more resources? View all of RedBeam's resources.

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Upgrade Your Industrial
Asset Management Software

RedBeam combines automation and best practices in asset tracking to improve the accessibility, reliability, and oversight of industrial assets. Contact us to learn how you can enable more effective resource management to enhance the production quality of your organization.

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Industrial Asset Management Software

Meet RedBeam

Explore RedBeam's Asset Tracking Features

Accelerate Productivity and Performance

Ensure Safety and Compliance

Automate Data Collection and Reporting

Calculate Your Savings WithRedBeam's Asset Tracking

Why Thousands of Leaders Trust RedBeam for Asset Tracking

Tracking Made Easy®

Why Industry Leaders UseAsset Tracking Software

Fixed Asset Management 101: Best Practices for Success

Trusted By

Manufacturing Equipment Tracking Software FAQs

Why Is Asset Tracking Important in a Factory?

How Does Asset Tracking Improve Asset Management?

How Is Real-Time Tracking Implemented in Operations?

Is RedBeam Capable of Supporting Preventative Maintenance Activities?

What Are the Key Elements of Industrial Asset Management?

Upgrade Your IndustrialAsset Management Software

Calculate Your Savings With
RedBeam's Asset Tracking

Why Industry Leaders Use
Asset Tracking Software

Upgrade Your Industrial
Asset Management Software