If you want to know what asset tracking solutions are, you only have to analyse the words in the phrase to grasp the meaning. An asset is an object of a certain value that belongs to a person or a group. Tracking means that an object can be traced and located wherever it may find itself. Solutions can be many things, but in this context it refers mostly to the answer to a potentially problematic situation, and we can see someone who brings this type of solution as a “solution provider”. So, the phrase can, in basic terms, be defined as something that allows somebody to trace and locate a possession of a certain value.
Asset tracking solutions also have to do with being able to be assured of the location of an object without having to physically be in the same location. Asset tracking solutions are used to enable stakeholders to know at all times where their assets are located, and, in some cases, what the state of those assets are, e.g. are they standing still or moving? Are they active or passive? Advanced asset tracking systems can even monitor temperature and other conditions of an asset. This is particularly handy in a factory or distribution business, where it is necessary at all times to know more about product movements, storage availability and stock levels. This type of information can even be used for company performance reporting and health and safety checking.
In short, asset tracking solutions show us where our stuff is and what it is doing, and it can be applied to various types of asset. The most popular form of asset tracking used by individuals today is vehicle tracking, and businesses frequently used asset tracking for fleet management, location of transported packages, containers or products. This way you can minimise loss, maximise the performance of assets in different settings, control inventories and simplify checking of available assets or product.
Asset tracking is usually done electronically and in some cases it uses global positioning systems to pinpoint the location of the asset. Well known tracking technologies include barcoding, image-based tracking, and radio frequency identification. All these operate in different ways and they have various applications in industry.
If you want to know what an asset tracking solution is, we can help you with an answer. Our helpful and experienced consultants will be only too pleased to help you find the most suitable asset tracking solution for your business. Contact us today!