Asset tracking includes adding sensors to the physical and mechanical assets of your company; that can range from small to large pieces of equipment. Asset tracking uses technology to track physical assets of any type and make. In any industrial and commercial application, asset tracking systems enable businesses to track high-value devices, equipment, inventory, or any other important assets. There are 4 central elements of an asset tracking system which include: Tracker, Platform, ERP, and Connectivity.

Asset tracking helps enterprises with greater visibility over their equipment and materials and leads to many benefits such as loss and theft prevention, greater operational efficiency, inventory control, and enhanced customer service.

How Does Asset Tracking Work?

Scanning technology is one of the most basic types of asset tracking and in these types of systems, RFID tags, barcodes, or similar sensors are connected to the products that are to be tracked. Location is reported when the product is scanned.

IoT asset tracking supports internet connectivity which offers real-time location insights regarding the assets that are being tracked. This feature helps in preventing lost inventory and generates enough data for the enterprises who are looking to measure the performance of their supply chain and warehouse.

Beyond location, the connected IOT asset tracking devices have the features to convey different types of information such as device condition or status, and to administer alerts if any product or object travels to a location that is not authorized.