According to CGI’s annual global study, companies are focusing their digital transformation efforts on activities that deliver the highest return on investment (ROI). It’s no longer about blindly digitizing as many processes as possible, but about profiting from digitization and using it as a competitive advantage. To meet this need, we have created the Favendo Essential Asset Tracking package. A cost effective tracking system that helps increase your company’s ROI without a large investment.

Get your RTLS project ready to go

The Essential package includes the Favendo Commander to manage your RTLS project, the Favendo Location Engine to calculate the location data of the assets, the hosting of the software setup and an open push/pull interface to feed the location data into existing third-party systems. In other words, everything you need for reliable indoor tracking. Assets and people are located using Bluetooth Low Energy (BLE) to an accuracy of 3-5m and in real time. This accuracy is more than sufficient for most use cases in Industry 4.0 or production environments. And if centimetre-precise tracking is ever required, the system can be expanded flexibly and seamlessly. The same applies to outdoor tracking, e.g. in loading yards. But how exactly does a tracking system in the smart factory help to achieve a higher ROI?

Increase ROI with a real-time tracking system for industry

In theory, there are 3 ways to increase a company’s ROI:

• Increase sales while keeping costs the same
• Reduce operating costs for the same level of sales
• Reduce capital investment, in the best case, while increasing sales.

A real-time tracking system addresses all 3 points at once. Let’s take a concrete example to see exactly how this works:

Imagine that in a manufacturing company, workpieces are tracked along the entire production line with an RTLS. As well as forklifts, pallets or tools. Using the Favendo Viewer, employees can view the location of workpieces or vehicles in real time. This eliminates the need for time-consuming searches for parts, pallets or vehicles, and allows process steps to merge seamlessly and without delay. In addition, workers are no longer tied up in unproductive activities and can use their free time to prepare for the next step. In this way, you increase throughput and produce more. This, in turn, translates into more revenue.

A similar point, or rather […]