The Challenge
The leading retail beverage and snacks store chain operates extensively across India, with 30,000 fixed assets distributed in 6 major cities and 25 to 30 small to remote site locations. These assets include tea and coffee machines, furniture, and TV screens. The lack of a robust asset management system posed significant challenges:
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- Asset Tracking :- Without a proper system, tracking the location, condition, usage, and ownership of assets was cumbersome, leading to asset loss, theft, misplacement, or duplication.
- Manual Work :- Auditing and managing assets manually was time-consuming and labour-intensive, increasing the risk of errors and inefficiencies.
The Solution
To address these challenges, Company implemented tag8’s Smart Asset Visibility Solution. This comprehensive asset management system offered several key features:
- Real-time Asset Tracking: The solution enabled continuous monitoring of the location, status, and condition of assets. QR code scanners were used to check in returnable assets, recording their location and assignment to employees.
- Digitalization of Asset Information: tag8’s platform facilitated complete digitalization of asset information, status, and utility, providing real-time visibility and reducing manual work during audits.
- Bi-directional Synchronization: The mobile app ensured that data remained updated, allowing for seamless synchronization between the physical assets and the digital platform.
Results
The implementation of tag8’s Smart Asset Visibility Solution brought about significant improvements for Company:
- Enhanced Visibility: Real-time visibility of assets on demand allowed for better tracking and management.
- Efficiency Gains: The digitalization of asset information reduced manual labour and saved time, making asset management more efficient and effective.
- Optimized ROI: With accurate asset tracking and reduced manual intervention, Chai Point achieved maximum ROI by minimizing asset loss and ensuring optimal asset utilization.
Conclusion
By leveraging tag8’s Smart Asset Visibility Solution, Company successfully overcame its asset management challenges. The solution not only streamlined the tracking and management of assets but also enhanced overall operational efficiency, enabling Company to focus on its core business of delivering exceptional tea experiences to its customers.
