What Are Asset Tracking Systems?
Think of an asset tracking system as an upgrade on the cluttered and error-prone spreadsheets that some businesses are still relying on today.
They track and centralise all essential information about your assets, such as location, usage, and condition, on one system. This helps streamline workflows, improve efficiency, and, most importantly, save you time and money.
Asset tracking software is cloud-based and can be downloaded onto your devices of choice, so whether you're in the boardroom or the stockroom, you will have complete visibility on all key metrics.
5 Types of Asset Tracking Technologies
Not all asset tracking systems are created equal; some will be more appropriate for your company than others. Here is a quick rundown of the top 5 asset tracking system categories.
Barcode Asset Tracking
Similar to the barcodes you scan at the self-checkout of the supermarket before it tells you there is an unexpected item in the bagging area.
These are printed, attached to your asset, and then manually scanned in and out of the system.
A great advantage of these is that they are relatively affordable to implement and won't require any expensive additional hardware, as some systems will come with in-built scanners.
QR Code Asset Tracking
They work in the same way that barcodes do, where you manually scan your assets in and out of the system and are similar to the ones a lot of restaurants have implemented to view their menus.
One advantage that QR codes have over traditional barcodes is that they can still be read even if they are damaged, and for many of them, all you need is your phone.
RFID Asset Tracking
Radio frequency identification asset tracking devices come in two types.
- Active RFID asset tracking
- Passive RFID asset tracking
Both use radio waves to track your assets, but the main difference between the two is that active systems have built-in batteries, while passive ones rely on an external power source to keep going.
GPS Asset Tracking
Global positioning systems use satellites to track your assets, often in real-time and over a larger coverage area. These can only be used outside, which makes them perfect for vehicle-based assets.
You've most likely used the same technology in your car as a satnav - maybe you even changed the voice to Yoda for a laugh, only for it to become really, really annoying after a couple of minutes.
Bluetooth Low Energy Asset Tracking
These use Bluetooth technology to track and monitor your assets at highly accurate levels.
These asset-tracking devices have a problem with distance, but this can be easily solved by placing Bluetooth beacons around your premises.