Browse Prior Art Database

SYSTEM FOR MANAGEMENT OF ASSET STORAGE AREAS

IP.com Disclosure Number: IPCOM000201007D
Publication Date: 2010-Nov-04
Document File: 6 page(s) / 55K

Publishing Venue

The IP.com Prior Art Database

Abstract

The invention described herein provides an inventory management system and technique that assists in decision making. Decisions can be made by the inventory management system regarding the movement of an asset based on its criticality, availability of space and other such useful parameters. The inventory management system helps an organization follow an improved asset management workflow by providing smart RFID tags. The RFID tags have displays which provide various information for guidance that otherwise would be manually performed. Additionally such an inventory management system assists in prevention of theft and damage to costly assets.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 38% of the total text.

Page 01 of 6

SYSTEM FOR MANAGEMENT OF ASSET STORAGE AREAS

FIELD OF INVENTION

The invention generally relates to asset management systems and more particularly to a system for management of inventory and storage areas.

BACKGROUND OF THE INVENTION

Effective management of moveable assets is an important requirement in modern industrial environment. Effective asset management makes assets available when needed and ensures efficient utilization. Asset management comprises activities such as locating assets, tracking the usage of assets and ensuring asset maintenance among others. More recently, advanced automatic identification technology systems based on Radio Frequency Identification (RFID) has added significant value to management of inventory systems. For example, RFID technology applied to inventory management notably provides an accurate knowledge of a particular asset.

Typically, conventional asset management systems help in allocation or reallocation of new or existing assets from a department with excess assets, to a department with shortage of assets. Some conventional asset management systems employed in a healthcare providing organization provide a workflow to simplify patient navigation inside hospitals using RFID with integrated display. However, in most of the conventional systems an asset state is updated only on moving a particular asset to the location that is categorized as belonging to a particular asset state.

Hence there is a need in the art for an improved asset management system that provides more accurate asset state for efficient asset management.

BRIEF DESCRIPTION OF THE INVENTION


Page 02 of 6

An inventory management system and technique that helps in decision making is disclosed. The inventory management system allows effective utilization of available assets and space.

DETAILED DESCRIPTION OF THE INVENTION

An inventory management system that facilitates decision making is disclosed. Based on the decision making ability of the system, decisions can be made regarding movement of an asset based on its criticality, availability of space and other useful parameters. The technique of decision making described herein ensures that a room space is utilized appropriately and also suggests which assets should go to which particular room based on certain valuable parameters.

A service request made via RFID tag to the inventory management system can be manual or automatic. On identifying the best possible destination for an asset of interest a space is blocked for the asset of interest based on a confirmation with an appropriate release period. The RFID tags help in getting the appropriate utilization time on all the identified states of an asset. It is critical that the utilization time is captured, as it is used extensively and is required for all algorithms associated with the inventory management system. Monitoring the utilization time helps in suggesting the best possible destination for an asset and helps in determining if a...