Innovations in fixed asset management: Enhancing efficiency through advanced tracking and maintenance systems
1 Henry Jackson Foundation Medical Research International Ltd/Gte, Nigeria.
2 Independent Researcher, Abuja, Nigeria.
3 Ulster University, United Kingdom.
Review
International Journal of Science and Technology Research Archive, 2024, 07(01), 019–026.
Article DOI: 10.53771/ijstra.2024.7.1.0053
Publication history:
Received on 11 May 2024; revised on 28 June 2024; accepted on 01 July 2024
Abstract:
This paper explores the transformative impact of advanced tracking and maintenance systems on organizational efficiency and asset management practices. It examines key technological innovations such as RFID, GPS, IoT integration, AI-driven predictive maintenance, and CMMS platforms. These technologies enable organizations to enhance operational efficiency by reducing downtime, optimizing asset utilization, improving lifecycle management, and ensuring accurate tracking and reporting. Despite the benefits, implementing these systems poses challenges, including technical complexity, initial financial investment, and data security and privacy concerns. However, AI and machine learning advancements offer opportunities to mitigate these challenges by predicting asset failures and optimizing maintenance schedules.
Keywords:
RFID; GPS tracking; IoT integration; Predictive maintenance; CMMS
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0