Friday, January 17, 2020
February 27, 2019

How the equipment rental industry is rethinking maintenance with IoT

As blogged on IoT Agenda, equipment rental companies can increase profits and enhance customer service just by gaining critical real-time insights into their asset performance. We’ve seen equipment rental companies flip the switch on IoT data and quickly improve asset uptime, longevity and performance. But while it’s important to match IoT solutions with the problem that needs to be solved, real-time visibility is not an IoT end game.

What if you could track rental equipment and anticipate issues that have yet to occur? Connecting your assets with an IoT strategy will help you predict problems and determine outcomes, delivering greater asset reliability and customer satisfaction. Consider these three key checkpoints as part of your predictive maintenance strategy:

Putting rules and workflows on your data

Managing maintenance is stressful on anyone responsible for trucks and other equipment. Equipment downtime leads to lost productivity, which has a devastating effect on the construction industry. One breakdown can bring an entire project to a standstill. With IoT, equipment rental companies now have the ability to automate preventive maintenance schedules, inspections and work order processes. It’s the best way to keep your operations running at maximum efficiency, decreasing time spent on diagnosing mechanical defects and evaluating equipment after repairs, maintenance and safety checks.

GPS tracking and telematics for vehicles and heavy equipment can provide accurate asset location, diagnostics and utilization data in near real time. You can configure your IoT application to put rules and workflows on this streaming data, for example, to automate fault alerts or create work orders when engine hours reach a threshold for maintenance. The value added is that you decrease unplanned breakdowns and service calls, maximize worker productivity, perform timely maintenance and alleviate pressure on mechanics and customers to identify equipment issues.

Keep reading this blog on IoT Agenda

 

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