Leased capital equipment such as fork trucks and AGVs are often under-utilized, a problem which causes increased equipment lease costs and labor inefficiencies.
This was the case with a global automotive manufacturer, with a fleet of approx. 2,000 fork trucks and AGVs spread out across dozens of sites in North America, who was unable to determine whether their fork trucks and AGVs were being utilized at 70%, a metric which had been set but never accurately measured.
One reason for this: the employee responsible for tracking and optimizing the utilization of these leased assets was based at one of the dozens of production sites and did not have a visibility solution to track this metric across his sites.
The employee was tasked with finding a 15% reduction in his leased capital equipment fleet. Not only would this provide lease cost savings but would also allow him to re-deploy labor capital to other areas of the business to increase productivity.
Deploying RedLore’s wire-free high-resolution RTLS provided visibility to track asset specific utilization metrics across all sites remotely. The employee was able to identify specific leased assets and sites which were underperforming, and ultimately reduce his leased equipment fleet.
The high-resolution RTLS also provided heat mapping for route and process optimizations and the ability to configure alerts based on geo-fenced areas (think of a situation where a fork truck which should be at a loading dock at a certain time is not present and an alert is generated).
One of the main decision drivers to deploy RedLore was the wire-free nature of the solution which meant no down time in operations and a set up time of only a few man-days. Since there was no need to run power or communication cables to install the system, the total cost of deployment was estimated at 85% lower than comparable solutions.