I.D. Systems, Inc. , provider of wireless solutions for the Industrial Internet of Things, has launched its latest generation of supply chain asset analytics software: PowerFleet IQ™ for fleets of forklifts and other industrial trucks, and VeriWise IQ™ for fleets of containers, trailers and other transportation assets.

PowerFleet IQ and VeriWise IQ provide a holistic view of asset activity across an enterprise supply chain. The systems generate asset performance metrics, site-by-site assessments, enterprise-wide benchmarks, and peer industry comparisons. The data benefits facility managers, fleet managers and corporate executives by identifying opportunities to improve asset management and measuring asset and system performance on an ongoing basis.

PowerFleet IQ and VeriWise IQ convey data through both Key Performance Indicator (KPI) dashboards and detailed reports that can be emailed to users automatically. The KPIs answer critical questions, including: How effectively are assets being managed? How efficiently are asset fleets being utilized? Are operations being conducted safely? Is asset management technology being used to its full potential?

I.D. Systems’ analytics software starts with high-level, strategic data elements, such as geographical distribution of asset utilization, asset performance trends, asset performance compared to the user’s enterprise average and peer industry, and asset management system health. The software also drills down to tactical details at the site and individual asset levels, pinpointing best-practice, average, and underperforming fleet facilities and assets.

“With our PowerFleet IQ and VeriWise IQ analytics platforms, we continue to improve the critical business intelligence we provide to customers on their supply chain assets,” said Kenneth Ehrman, I.D. Systems’ chairman and CEO. “Measuring asset performance against our unique database—encompassing hundreds of millions of asset activity hours across more than a decade of fluctuating economic activity—helps our customers gain unmatched insights, not only within their enterprises, but across their industries. We think the depth and quality of our supply chain asset data is a game-changer for any large enterprise with extensive material handling or trucking operations.”

“More specifically, I.D. Systems customers can use PowerFleet IQ and VeriWise IQ information to optimize the health of their asset management systems, quantify best-practices for managing industrial trucks and freight transportation fleets, identify inefficiencies in asset performance across sites and geographic regions, identify opportunities to improve asset utilization and reduce costs with full enterprise awareness, and help forecast future asset requirements. Collectively, these capabilities help management improve the speed and quality of their business decisions, and shed light on the outcomes of those decisions, to generate a greater return on investment from corporate assets.”