Improve traceability and visibility with Location Solutions from VisionID
In 2016 Ibec reported that over the next three years 88% of manufacturing companies in Ireland would be investing in new technology and equipment. In 2019 we know that these investments come as a result of the new industrial revolution, industry 4.0 and emerging capabilities like; big data, IIoT, machine learning and AI.
The increasing value of tracking assets and collection of data for businesses will see a rise in the amount of businesses using location solutions. Gartner reports predict that by 2021, over 65% of enterprises tracking hardware assets will utilize more than three technologies.
What is a location solution?
The term Location Solution refers to technologies used to track the location of an asset, product or even a person in real, or near- time usually within a constrained area. This technology enables companies to improve business decisions based on the location data collected.
RFID tagging has become widely viewed as a key competitive advantage and business differentiator. RFID tagging has been seen to increase inventory accuracy by up to 99.9% and reduce inventory carrying costs by up to 59%.
Gartner reported that in 2017 85% of enterprises had more than one location project and 76% of respondents used the location information for more than one application.
- Full traceability and visibility of the business in real time.
- Reduces manual data collecting.
- Provides critical business context.
- Improves workflows and productivity.
- Increases revenue.
How does it work?
To achieve this hardware is paired with a location engine to collect data and deliver operational intelligence and context. The combination of hardware and the location engine may vary. Some users may require an extremely high level of accuracy, while others may only need to know the general location of an asset.
Location solutions fall under the category of IIot as they pair sensors with wireless network to gather data. Data can then be collected and analysed to make business processes more efficient. Data entry by Location Solutions, such as RFID data entry, is faster and more accurate than manual data entry. Data Entry by Location Solutions reduces the risk of human error but also frees time for employees to focus on other business activities. Tracking assets can also help to improve operational efficiency, by reducing time spent looking for misplaced equipment. In the evolving landscape of Industry 4.0, data is a core asset, enabling intelligent manufacturing and supply chains.
- Ultra-Wideband technology (UWB)
- Bluetooth Low Energy
- WIFI and GPS