CRITICAL ASSETS

Critical Assets

Businesses lose up to $600 billion annually in the United States due to challenges associated with monitoring critical assets.

(Source: Forbes)

A company's critical assets are assets that are crucial to its operations, revenue generation, or reputation. These assets can range from physical assets, such as machinery, vehicles, and buildings, to non-physical digital assets.

Critical assets are associated with the management and maintenance of assets that are essential for the functioning of a business or an organization. It's crucial to effectively monitor these critical assets to make sure that your business runs smoothly. Lack of adequate monitoring can lead to considerable financial losses, operational disruptions, and affect brand & company reputation.

According to MarketsandMarkets, the critical asset management market is expected to develop at a Compound Annual Growth Rate (CAGR) of 14.6% from $5.6 billion in 2020 to $11.0 billion by 2025.

Challenges Experienced.

The fact that in many cases a company's assets are not given the same priority as customer assets is one of the difficulties posed by managing critical assets. For example, the failure to monitor vehicles and pallets used to convey goods during transit could result in missing or damaged commodities that are costly and timely to replace. This lack of visibility can also lead to delivery delays and unsatisfied customers.

Solutions To Put In Place.

Smart technology may be utilized to monitor and secure crucial assets to address these issues. For instance, asset tracking sensors can be mounted on trucks, pallets, and containers to track their whereabouts and notify the business if violations of conditions are experienced. Client experiences can be improved by using this technology to give them real-time updates on the status of their shipments. Adapt Ideations' innovative asset tracking solutions can help provide real-time alerts about your assets to you and your customers.

Critical assets are essential for the successful operation of a company, and the loss or damage of these assets can have significant financial consequences. Smart technology can help solve the pain points associated with critical assets by providing greater visibility and improving the client experience.

How ADAPT Can Help

Real-Time Location Tracking.

Asset tracking solutions can enable real-time location tracking ensuring you always know where your assets are whether in the warehouse, in-transit, or arrived at their final destination.