Transforming Operations with Asset Intelligence: Enhancing Visibility, Efficiency, and ESG Compliance

Navigating the complexities of managing large-scale and often distributed assets is essential, and a top priority for healthcare, food operations, and other industries relying freezers, fridges, and industrial-grade storage capabilities. These often expensive and disconnected storage systems are critical for continuous operations since they often house important inventory, and play a direct and indirect important role in driving thriving operational ecosystems forward.

What is an operational ecosystem?

An operational ecosystem is an environment where people, process, and technology work together in an intelligent way. They are different than traditional operations which rely on outdated process and disconnected data in that they naturally connect, adapt, and evolve data and dynamic workflows with proprietary data models in order to provide optimize and actionable intelligence generated from assets, locations, and teams. In the era of AI, the most efficient, adaptable, and scalable teams will thrive, so ensuring your operational ecosystem is properly connected and optimized ensures you are maximizing the ROI of your operational budget and physical assets in a compliant, efficient, and sustainable way.

Why assets, process, and performance visibility matter

The challenge is these assets don't provide performance data in a useful way. They generate temperature at requested levels, and try and maintain them in an efficient way, although failure is often inevitable. As such, in order to comply with regulation in certain industries, temperature and time needs to be tracked. Sure, you can see the temperature or main data point (ideally in an automated and systematic way), but there's not a great way to get visibility into ongoing performance of the asset itself, especially at scale. This lack of insight ends up eventually creating other problems such as energy waste, asset failure, and non-compliance, many of which could be prevented. Such failures are not just costly and time-consuming to address but also pose significant threats to the inventory they protect and how that inventory adds value to the business. Furthermore, these issues can range from creating minor problems, such as needing to move inventory from one location to the next, to highlighting major ones such as threatening ESG or compliance efforts. 

Juggling responsibility, risk, and the right priorities

These are the multifaceted challenges faced by even the most innovative operational leaders, because it blends a balance of basic operational responsibility, risk mitigation and thinking about proactive innovation. While these assets are pivotal for operations and not easily replaced, they are often silent until a failure occurs. Since the probability of failure is high, and increases over time, it's a constant test of ones appetite for pushing the limits.

Addressing these problems ahead of time is ideal, but most unfortunately choose the reactive route because it's not an immediate priority or they simply don't recognize the potential implications. There's a lot to be done, and juggling priorities is a constant challenge, however, understanding the benefits and how they impact the bottom-line, regardless of whether it's an immediate need is the first step is establishing the broader business benefits.

The problem with waiting

This reactive approach when these problems arise is itself problematic. When assets fail, the cost and effort to replace them can be significant, impacting operations and continuity overall. A failure in temperature-controlled environments can compromise critical inventory, leading to potential losses and compliance issues, impacting staff, customers, and stakeholders, with the level of issue obviously correlated to the complexity and cost of the outage. Further downstream, unplanned asset failures can throw off budgets, leading to financial strain and operational instability. Furthermore, as businesses increasingly prioritize sustainability, the energy consumption and environmental impact of these assets come under scrutiny, so ensuring ESG compliance without compromising efficiency requires a delicate balance.

Reimagine your assets

Everything is getting smarter. People, process, and more productive ways to generate happy customers and revenue. Data is at the forefront of so many decisions, but historically has been limited to digital or contextual sources. Online experiences obviously provide an ocean of insights that can be cross-referenced, analyzed, and interpreted, but when it comes to running an efficient, streamlined, and intelligent operational ecosystem requires even more data, and the ability to go next level isn't as far away as you might think. Your physical assets consume energy, but also give off subtle signals into the performance of the system itself. Vibrations, fluctuations, and creative sources of insight go unnoticed, and even if they were consistently tracked, it's not immediately clear what could be made of this information in a useful or actionable way.

Discover a more innovative (and predictive) way

Asset Intelligence from Checkit leverages the data your assets naturally produce in a smart, efficient, and scalable way. By cross-referencing your data with Checkit's internal proprietary data models generated from tens of thousands of assets monitored, Checkit customers can get insights overwise not possible with traditional solutions. This data is analyzed to provide predictive intelligence with up to 90% accuracy, providing information into assets while also indicating when industrial assets are likely to fail. The solution is built on the foundation of automated temperature monitoring data from smart sensors installed with the assets, utilizing cycle times and temperature fluctuations to identify and forecast potential problems.

How Asset Intelligence improves strategic oversight

Oversight is a constant challenge, especially as companies evolve and more complexity is added to operational process. Being able to get more strategic with the data can unlock new opportunities.

• Visibility: Gain comprehensive visibility into all your assets across multiple sites, with real-time availability monitoring.
• Intelligence: Transform raw data into actionable insights, enabling more informed decision-making and strategic planning.
• Operational modernization: Utilize the data you already have to make informed decisions, modernizing your operational ecosystem for enhanced competitiveness, talent recruitment, and stakeholder satisfaction.
  
  

How Asset Intelligence improves asset management

When investments are more into expensive asset equipment, being able to maximize the ROI is often limited to the overall performance of the system itself. With Asset Intelligence, new ways of optimizing data and systems are now possible.

• Reliability: Assess the reliability of your assets based on the frequency of significant temperature fluctuations.
• Predictability: Understand the predictability of asset failures, enabling proactive maintenance and budget planning.
• Proactive Maintenance: By predicting asset failures, you can schedule maintenance before critical issues arise, reducing downtime and ensuring continuous operations.

How Asset Intelligence impacts ESG initiatives

ESG (Environmental, Governance, and Social) initiatives are top-of-mind for many executives, leaders, and investors because of the long-term impact the businesses of today are creating. Coming up with new and innovative ways to maximize those efforts in a tangible way can further highlight the commitment to cleaner, greener, and more efficiency models.

• Sustainability: By optimizing the performance of assets, the solution contributes to energy efficiency and reduced carbon footprint, aligning with ESG goals.
• Strategic Agility: With a modernized operational ecosystem, businesses can adapt more swiftly to market changes, technological advancements, and evolving customer expectations.
• Thought Leadership: Using innovative capabilities not yet mainstream, position your operational ecosystem as a leader in the market.
  
  

How Asset Intelligence improves your bottom-line

All roads lead to the bottom-lines of organizational financials, so by aligning operational strategy to tangible results can only further benefit and drive forward the work being conducted.

• Cost savings: Proactive maintenance and energy-efficient operations result in significant cost savings, directly impacting the bottom line.
• Risk mitigation: By anticipating asset failures, businesses can mitigate risks associated with inventory loss, compliance violations, and supply chain disruptions.
• Budget optimization: With predictive insights, you can plan for maintenance and replacements within your budget cycle, avoiding unexpected expenses.

Asset Intelligence is not just about artificial intelligence; it's about gaining intelligence from the assets you already own. By embracing this new approach, you can unlock a new wave of efficiency, ensuring your operational ecosystem is equipped to thrive in the fast-paced, ever-changing business landscape.  Asset Intelligence solution represents a paradigm shift in how businesses manage their physical assets. By harnessing the power of predictive analytics and automated monitoring, companies can unlock a new wave of efficiency, ensuring their operational ecosystem is not only sustainable and resilient but also primed for future growth.

Moving the future forward

Asset Intelligence represents a paradigm shift in managing physical assets. By embracing predictive analytics and automated monitoring, businesses can unlock a new level of efficiency, ensuring their operational ecosystem is not only sustainable and resilient but also primed for future growth. To explore how Asset Intelligence can transform your operations, consider scheduling a live demo with Checkit today.

To schedule a live demo of Asset Intelligence, book a demo today!