How is RFID Used for Offshore Oil Equipment Rental Tracking?
A large offshore rental equipment provider transformed its operations by integrating RFID tags to enhance tool tracking, inventory management, and operational efficiency. The adoption of RFID technology significantly improved asset visibility, reduced labor requirements, drastically shortened inventory cycle counts, and streamlined workflows, resulting in optimized utilization and cost savings.
Tagging Offshore Rental Assets
- Durable RFID Tags: Designed to withstand extreme environmental conditions, these tags can be affixed to a variety of rental equipment such as drilling tools, compressors and generators.
- Hazardous conditions certified tags: Provided intrinsically safe tag options with the following C1D0/1, ATEX, IECEx certifications.
- Lifecycle Tracking: Tags store detailed data on asset usage, maintenance history, and condition, enabling better management and timely maintenance scheduling.
Operational Automation
- Check-in and Check-out Processes: RFID automates rental workflows, allowing equipment to be quickly scanned and logged during deployment or return.
- Real-Time Visibility: RFID readers provide instant updates on asset locations, ensuring accurate inventory management and reduced downtime.
System Integration
- ERP and Inventory Systems: RFID tags integrate seamlessly with existing enterprise tools, enabling comprehensive tracking and management across multiple facilities.
Kathy Gannon, Strategic Sales Director, U.S.A.
Benefits of RFID for Offshore Oil Equipment Rental Tracking
Before RFID adoption, mandatory inventory cycle counts required a team of employees and several weeks to complete. Following implementation at their first site, the same tasks were accomplished by just two employees in a day, demonstrating significant labor efficiency. The oil and gas clients benefited from the faster check-in and check-out process when equipment arrived at the port. This efficiency reduced rental costs by minimizing idle time and avoiding unnecessary equipment charges.
The integration of RFID technology modernized rental tracking processes for the offshore oil equipment provider. By improving accuracy, reducing labor needs, and streamlining workflows, the company achieved operational excellence and enhanced profitability in a competitive industry. This case highlights how advanced asset management tools can drive efficiency and value in complex operational environments.
Key Outcomes
Enhanced Asset Visibility: Real-time tracking ensured all equipment was accounted for, reducing losses and improving operational transparency.
Improved Billing Accuracy: Automated processes eliminated errors in check-in and check-out, ensuring precise client billing.
Cost Optimization: By maximizing asset utilization, the company avoided unnecessary equipment purchases and minimized losses.
Informed Decision-Making: Access to accurate usage data enabled better forecasting, maintenance scheduling, and strategic planning.
“RFID technology revolutionizes oil equipment rental tracking by providing real-time visibility, automating workflows and enabling data-driven decision-making. It minimizes inefficiencies, reduces costs and ensures optimal utilization of assets—empowering companies to achieve operational excellence in a demanding industry.”