Asset Inventory Management
Ivy League Medical School Reduces Inventory Time By 75% With Audit-Proof Asset Inventory Management
Challenges Faced:
Universities face complex responsibilities when managing physical assets, from equipment and tools to technology and facilities. Accurate asset tracking is crucial to comply with federal regulations and avoid potential liabilities.
So, it was no surprise that one Ivy League Medical School faced considerable challenges in executing grant-mandated biennial asset inventories across 18 buildings, totaling two million square feet and 960 rooms.
Acknowledging the need for a more efficient asset inventory management approach, the Ivy League institution contacted Radiant to see how we could help. Our client came to us with:
– An arduous process of manually recording barcodes with pen and paper took at least 172 hours to complete.
– Concerns about the accuracy of the process with $18 million worth of grant-sponsored assets and millions more in non-sponsored assets unaccounted for during earlier audits.
The Solution: Radiant’s Passive RFID System
Upon consultation with the university, we knew Radiant’s Passive RFID Solution would streamline the inventory process and help audit-proof their asset register by ensuring accuracy.
Passive RFID tags, activated by an RFID reader, were deemed an ideal fit for the school, given that their assets tend to remain in use for extended periods. The long battery life offered by passive RFID technology, as opposed to active RFID tags or BLE beacons, made it the right choice.
The University ultimately chose Radiant’s Passive RFID Solution for its asset tracking needs because our system offers:
– Unique software that provides improved visibility into asset data
– Seamless integration with existing asset management systems
– Flexible approach to tracking assets that do not require line-of-sight
– Excellent customer support through deployment and beyond
Overcoming Unforeseen Obstacles with a Flexible Deployment
The transition required tagging existing assets with passive RFID-enabled barcode labels and applying the appropriate tags to over 270 new assets.
Despite the unforeseen challenge posed by the COVID-19 pandemic, which forced the campus to close temporarily, the University managed to adapt and continue with the Passive RFID implementation. Researchers were allowed to tag and inventory their equipment independently, demonstrating the flexibility and ease of use offered by the new approach.
Tangible Results and Award-Winning Impact
The implementation of Radiant’s Passive RFID Solution at the Ivy League Medical School led to several key benefits:
- Improved Efficiency: Total inventory time was reduced by more than 75%, saving time and resources
- Increased Data Quality: The passive RFID system offered better tracking accuracy, reducing the potential for lost and misplaced assets.
- Streamlined Transfers: The new system assisted in simplifying the movement of assets between labs and other campus locations.
- Industry Recognition: The successful implementation resulted in a nomination for the RFID Journal’s “Best RFID Implementation” award in 2021.
Client Testimonial
The Ivy League administration expresses their satisfaction with Radiant’s Passive RFID Solution, which has dramatically improved their asset tracking, data accuracy, and overall efficiency. By implementing this solution, the institution has transformed its inventory management operations, allowing staff to focus on other vital aspects of their work and ensuring that assets equating to millions of dollars are secure and accounted for within their extensive campus.
Is your campus ready to:
- Automatically monitor and manage campus assets?
- Quickly prove your institution meets all compliance requirements?
- Shorten the time it takes to do inventory?
- Increase the security of assets on your campus?
- Ensure worker safety?
If you answered “yes” to any of the above and want to learn more about our fixed asset tracking solutions or life safety solutions, please contact us or request a demo.