Accelerating the
Industrial Internet of Things

Asset Management helps NASCAR Drive Down Costs

Asset Management helps NASCAR Drive Down Costs
Asset Management helps NASCAR Drive Down Costs
Asset Management helps NASCAR Drive Down Costs
Asset Management helps NASCAR Drive Down Costs
Schneider Electric Schneider Electric
IEC
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OVERVIEW
Hendrick Motorsports wanted to coordinate information across 6 warehouses, track usage of approximately 150 components on each car and get the system up and running within four months.
Hendrick Motorsports, originally named All Star Racing, is a current American auto racing team created in 1984 by Rick Hendrick. The team currently competes in the NASCAR Sprint Cup Series.
Schneider Electrics provides a solution which includes Avantis Asset Management Software and Avantis Industrial Rapid Implementation Methodology (InRIM).

Software Components
- Avantis EAM solution
Race check, test configurations
M2M
Mature (technology has been on the market for >5 years)
OPERATIONAL IMPACT
Real-time Tracking - Multi-site asset management capabilities track inventory in all six warehouses.
Operational Cost Saving - SAP integrated with existing business and financial operations resulted in $100,000 savings.
QUANTITATIVE BENEFIT
Reduced cash outlay for inventory saves $400,000.
The solution saved $1,000,000 through reduced inventory by consolidating warehouse management.
Reduced overhead for single instance, multifacility management and saved $65,000.
IOT SNAPSHOT
The IoT ONE Radar indicates the mix of hardware, software and services used in an IoT solution.
Hardware
Hardware that enables dual directional communication for data collection and control message delivery. Examples include cellular, Ethernet, and Wi-Fi.
Technologies that enable legacy devices and other systems to connect to the IoT. They integrate technologies and protocols for networking.
Products used by end users that contain IoT technologies. Examples include enabled equipment, wearables, hand-held scanners, and tracking devices.
Software
Horizontal applications are standardized (e.g., asset tracking). Vertical applications are tailored to specific needs (e.g., delivery fleet management).
APIs are the market enabler for IoT. They allow users to manage devices, enable data transfer between software, and provide access capabilities.
IoT analytics includes real-time or edge computing and batch analysis. Analytics can be behavioral, descriptive, predictive, or prescriptive.
Visualization solutions use dashboards, alerts, events, maps, and other tools to present easily comprehensible data to end users.
Data management solutions capture, index and store data in traditional database, cloud platforms, and fog systems for future use.
Services
System integrators link IoT component subsystems, customize solutions, and ensure that IoT systems communicate with existing operational systems.
IoT data management consultancies help to make sense of big data, decide which data to maintain and for how long, and troubleshoot IT issues.
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