OVERVIEW
This piece explored why visibility gaps persist, what’s at stake, and how industrial leaders (especially those leveraging AI and intelligent systems) are rethinking assets as their business-critical priority for resilience and efficiency. Asset visibility isn’t optional anymore.
Padmanabha “PSB” Bhatta | May 12, 2025
What’s the real cost of reactive asset management?
$50 billion lost annually. 42% of downtime caused by equipment failures (The Wall Street Journal). And businesses still rely on outdated, reactive maintenance that costs five times more than proactive asset lifecycle planning (Marshall Institute).
Tech Snippet
How are industrial IoT devices transforming asset data utilization?
IoT sensors rapidly collect real-time operational data from assets. Integrating this raw data with cloud platforms and AI empowers industrial companies to unlock deep insights, enabling proactive decision-making and transforming asset performance management.
Why does this gap persist?
The real issue is a lack of real-time visibility. Without the right asset data, employees are left scrambling as equipment breaks down unexpectedly, shipments go missing, and inefficiencies snowball. The result? Soaring costs, lost productivity, and operational chaos.
Digital tracking is a start, but the next big leap is letting intelligent systems and AI that makes sense of that data to predict asset behavior, spot anomalies, and even trigger action before things go south.
Unsustainable Load on Industries
A KPMG study revealed that 67% of tech leaders need scalable, agile solutions to drive operational efficiency. Yet nearly half of mid-market companies say their current technology requires costly upgrades just to meet data goals.
For manufacturers managing large inventories or distributed equipment, reactive maintenance can lead to financial losses. Logistics providers battle misplaced inventory, delayed shipments, and high operational costs. Without modern tools and the right technology, businesses can’t compete in a data-driven economy.
Biz Snippet
How does clear asset visibility empower workforce and operational leadership?
It frees operational teams from manual checks and high-pressure asset troubleshooting associated with blind spots. Leaders gain data confidence to optimize resource deployment, reduce operational stress, and guide teams with strategic foresight for optimal assets and personnel utilization.
Where should Asset Managers start to achieve effective asset management?
- Start with an audit: Identify inefficiencies, misplaced assets, and inconsistencies. Sync data from the factory floor with ERPs for accurate decision-making.
- Address Visibility Blind Spots: Gain full control over asset location, usage, and condition with automated alerts and real-time insights.
- Automate Physical Verification & Compliance: Streamline reconciliation records to meet industry standards with minimal manual effort.
- Leverage Smart Technology: Use IoT, cloud, and AI to turn raw data into strategic intelligence signals. Leverage dashboards that inform decisions and agents that can autonomously alert, flag, and route issues.
- Be Proactive: Shift to predictive maintenance and AI-powered systems that can forecast asset failures, and even recommend efficient actions to cut downtime, extend asset lifespan, taking the pressure off frontline operations.
Key Takeaways
Future-ready industrial operations demand proactive intelligence, not reactive fixes. Progressive leaders must leverage the right technology and AI to address these gaps and gain complete asset visibility. Strategic investments will drive operational efficiency, minimize downtime, and unlock new levels of productivity.
Expert Speak
Industrial transformation hinges on next-gen asset management. Prioritizing asset visibility and
AI/IoT adoption drives resilient operations, cost savings, and sustained business value across the supply chain.
Insights in Action: Related Case Study
Discover a real-life example of how business leaders are using composable business applications, rather than traditional ones, to meet the changing needs of their growing businesses, IT team, and demanding customers.
Smart Logistics Transformation Delivers 30% Cost Savings and Peak Business Performance.
Go to Case Study
Sources
- Wall Street Journal Unlocking Performance: How Manufacturers can Achieve Top Quartile Performance
- Marshall Institute: Preventive Maintenance – The Cost of Maintaining Equipment
- KPMG: Global Tech Report 2023
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