When organizations respond to a maintenance failure post facto it is not only more costly, but usually brings a certain amount of disruption with it as well. The ongoing pandemic has only accentuated these inconveniences. By utilizing predictive asset maintenance however, organizations are able to gain the necessary intelligence by recognizing events that might trigger potential failures or outages. By employing smart asset tracking and predictive maintenance they prolong the useful life of equipment and machinery while maintaining efficient business operations. The following article does an excellent job of describing how predictive maintenance and asset tracking strategies are actually being deployed.

Due to the high-risk nature of the oil and gas industry, asset management is critically important for energy companies. Faced with health and safety regulations, increasing competition, and decreasing margins, energy companies are seeking ways to improve operational efficiencies. These large-scale operations have equipment in multiple locations with rotating workers. Simply knowing the exact location of the equipment, let alone knowing what might go wrong with it, can be a challenge.

Today’s IoT-based asset tracking solutions enable companies to track all assets at any given time from a centralized location, even across multiple geographic areas. Asset tracking improves resource management and can save money. Further fueling the need for asset management software are regulatory restrictions designed to curb greenhouse gas emissions and the increasing pressure on energy companies to reduce their environmental impact. Asset management solutions can help ensure federal compliance.

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