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A reliable and effective IoT asset performance monitoring solution is critical in keeping equipment connected, up-to-date, secure and at operating its fullest potential. Hexagon's Asset Management solution connects relevant systems and processes to maximise equipment effectiveness. 

Industrial IoT device monitoring enables manufacturers to deploy IoT and analytics applications in a very cost-effective way. The solution delivers fast payback by preventing unplanned downtime and the associated revenue losses.

Asset Management is designed to maximise overall equipment effectiveness (OEE) and operational excellence indicators, either for a single device or for a set of systems, whether in real time or reporting over a period of time. Investment in asset performance management can keep fixed costs lower. Even a small change in OEE can have tremendous effects on the bottom line. The solution offers data and metrics including: 

• Real-time asset dashboard showing machine status 
• Real-time notifications of critical events 
• Real-time and historic event logging 
• Availability = Operating time / Scheduled time 
• Performance = (Programs executed x Ideal execution time) / Operating time 
• Quality = Programs successfully executed / Total programs executed 
• Quality = Acceptable jobs / Total jobs done 

Analytical basis for decision making 

IoT monitoring technology brings direct benefits to the shop floor, but also empowers managers to make data-driven decisions, reduce paperwork, identify improvement areas and better track key performance indicators such as: 

• Quantitative indicators like OEE 
• Lagging indicators that present the success or failure post hoc 
• Input indicators that measure the resources consumed during the generation of the outcome 
• Average initial response time to respond to an incident reported on the shop floor 
• Average mean time between failure