Asset movement refers to the tracking of any item, like equipment or inventory, as it changes location or possession within a company. This can involve several scenarios: transferring an asset between different offices, assigning an asset from storage to a specific employee, handing over equipment between employees for a project, and finally, returning a company asset from an employee back to its designated storage location.
By effectively tracking these movements, organizations can maintain control of their assets, improve utilization, and minimize loss or theft.
In this comprehensive guide, we will look into the significance of asset movement control and provide practical insights into how you can efficiently track and manage your assets. We will also explore the utilization of cutting-edge technologies, such as RFID, GPS, IoT, and BLE, to enhance asset verification and control.
Keeping Tabs on Your Assets: Why Movement Control is Key.
Here are some key reasons why asset movement control matters:
- Operational Efficiency: Effective asset movement control ensures that assets are available when and where they are needed, minimizing operational disruptions and delays.
- Cost Optimization: By closely monitoring asset movements and maintenance schedules, organizations can significantly reduce operating costs associated with asset management.
- Compliance and Risk Management: Controlling asset movement helps companies adhere to regulatory requirements and mitigates the risk of non-compliance, which can lead to legal and financial repercussions.
- Security and Loss Prevention: Asset movement control systems can detect unauthorized asset movements, reducing the risk of theft and asset loss.
- Improved Asset Utilization: Knowing where assets are located and who is using them allows for better planning and resource allocation. This prevents underutilized assets sitting idle and ensures critical equipment is readily available.
- Enhanced Decision-Making: Data gathered through asset movement tracking provides valuable insights into asset usage patterns. This information can be used to make informed decisions about asset purchases, maintenance schedules, and potential upgrades.
- Simplified Insurance Management: Proper asset tracking streamlines insurance claims by providing accurate documentation of asset ownership, location, and condition. This can lead to faster claim processing and potentially lower insurance premiums.
- Increased Employee Accountability: Knowing their movements are tracked can encourage employees to handle assets with greater care and responsibility. This can lead to fewer accidental damages and a longer lifespan for valuable equipment.
Since we’ve established the value of controlling asset movement, let’s delve into the essential features.
Also read: Asset Verification and Tagging – A Practical Guide
Must-Have Features for Tracking Your Assets:
1. Real-Time Tracking
A robust asset movement control system should provide real-time tracking capabilities. It should allow you to monitor the current location and status of assets as they move within your organization.
2. Geofencing
Geofencing is a valuable feature for asset movement control, especially for assets that need to stay within specific boundaries or zones. The system should enable you to define virtual geographic boundaries, and if an asset exits or enters these boundaries, it should trigger alerts or notifications.
3. Alerts and Notifications
Proactive alerts and notifications are essential for asset movement control. The system should notify you immediately when unauthorized movements are detected, allowing for swift action to prevent potential issues.
4. User Authorization
User authorization features ensure that only authorized personnel can move assets. The system should allow you to set permissions and restrictions on who can move specific assets and under what conditions.
5. Reporting and Analytics
Comprehensive reporting and analytics capabilities are critical for gaining insights into asset movements. The system should generate detailed reports on asset locations, movements, and usage patterns, enabling data-driven decision-making.
6. Integration
Seamless integration with other systems and software within your organization is vital. It should allow for easy data sharing and coordination with other business processes.
Now that we’ve explored the essential features of an asset movement control system, let’s check some of the technologies that can enhance asset verification and control.
Leveraging Technology for Asset Movement Control
The advancements in technology have introduced innovative ways to enhance asset movement control. Businesses can leverage various technologies to streamline asset verification and control processes.
Let’s explore some of these cutting-edge technologies and their applications in asset movement control:
1. Barcode
Barcode technology is a system for representing information in a visual, machine-readable format. It does this by using a series of bars and spaces of varying widths that can be scanned by a barcode reader and translated into data.
Here’s a closer look at how barcode technology works:
- Scanning: Barcode scanners use a light source, typically a laser, to illuminate the barcode. The reflected light is then captured by a light sensor in the scanner.
- Decoding: The scanner transmits the decoded data to a computer system, where it can be used for various purposes, such as tracking inventory, managing assets, or processing point-of-sale transactions.
Barcode technology is a mature and reliable solution for a wide range of asset tracking and data collection applications.
2. RFID (Radio-Frequency Identification)
RFID technology is a game-changer in asset movement control. It operates by using radio-frequency signals to track and identify assets. Here’s how RFID technology can be applied:
- Tagging: Assets are tagged with RFID tags or labels, each containing a unique identification code.
- RFID Readers: RFID readers are strategically placed at checkpoints or exit points. They communicate with RFID tags and capture data about asset movements.
- Automated Tracking: As assets move in or out of areas equipped with RFID readers, their movements are automatically recorded in real-time.
- Unauthorized Movement Detection: RFID systems can trigger alerts or notifications when unauthorized asset movements occur.
RFID technology offers precise and efficient asset tracking, making it ideal for industries where accurate control is essential, such as healthcare, logistics, and manufacturing.
3. GPS (Global Positioning System) and IoT (Internet of Things)
GPS and IoT technologies provide powerful tools for tracking mobile assets and controlling their movements. Here’s how they enhance asset movement control:
- Geofencing Through GPS: Organizations can implement geofencing using GPS technology. Virtual geographic boundaries are defined, and when assets equipped with GPS technology cross these boundaries, immediate alerts are generated.
- IoT Sensors: IoT sensors can be embedded in assets to monitor their condition and location in real-time. These sensors collect data on factors like temperature, humidity, and motion. If predefined thresholds are exceeded, alerts can be triggered, allowing for proactive maintenance.
GPS and IoT technologies are particularly valuable for businesses with mobile assets, such as vehicle fleets and equipment, enabling organizations to maintain control and optimize asset utilization efficiently.
4. BLE (Bluetooth Low Energy) Beacons
BLE beacons are increasingly used for indoor asset tracking and control. They emit low-energy Bluetooth signals that can be detected by nearby devices, such as smartphones or specialized receivers. Here’s how BLE beacons are applied in asset movement control:
- Indoor Navigation: BLE beacons are used to create indoor navigation systems, particularly in large facilities or warehouses where GPS signals may not be reliable. Employees or visitors can use their smartphones to navigate and locate specific assets within the facility.
- Security and Zone Control: In highly sensitive environments, BLE beacons can be attached to assets containing hazardous substances. Zones are designated within the facility, and BLE readers are installed at entry points. If unauthorized assets come too close to restricted zones, BLE readers trigger alarms and alerts.
5. RTLS (Real-Time Locating System)
Unlike GPS, which relies on satellites and works outdoors, RTLS is designed for indoor environments and provides real-time location data for objects and people. Here’s a breakdown of how it works:
- Tiny Tags, Big Impact: Small tags are attached to the items or worn by personnel you want to track. These tags transmit signals using technologies like radio waves (RFID), ultrasound, or even light.
- A Network of Listeners: Strategically placed readers or sensors throughout the area pick up the signals from the tags.
- Putting the Pieces Together: A central system receives the data from the readers, interprets the signals based on the RTLS technology used, and pinpoints the location of the tagged item or person.
- Real-Time Visibility: The location data is then displayed on software in real-time, giving you a clear picture of where everything is.
RTLS can be a valuable tool for optimizing operations, improving efficiency, and gaining valuable insights within your indoor environment.
Conclusion
Asset movement control is crucial for organizations to maintain control, optimize utilization, and prevent loss of valuable assets. By implementing a robust asset movement control system with features like real-time tracking, geofencing, and user authorization, businesses can achieve these goals. Furthermore, leveraging technologies like RFID, GPS, and BLE beacons can further enhance asset tracking and control.
In conclusion, effective asset movement control empowers businesses to streamline operations, make data-driven decisions, and safeguard their assets.
FAQs
Q1. Why is asset movement control important?
Ans. Asset movement control isn’t just about security, it’s about efficiency too. By tracking your assets, you ensure they’re readily available, minimizing downtime. This also helps optimize usage and maintenance schedules, saving money. Plus, it keeps you compliant with regulations and helps prevent theft or loss of your valuable equipment and inventory.
Q2. How can I get started with asset movement control?
Ans.
- Identify your needs: What assets do you need to track? What features are most important?
- Research different systems: Consider features, budget, and ease of use.
- Implement a pilot program: Test a system with a small group of assets before full deployment.
- Train your employees: Ensure everyone understands the system and procedures.
By implementing effective asset movement control, organizations can gain better control of their assets, optimize operations, and make data-driven decisions.
Q3. How can technology improve asset movement control?
Ans. Technologies like RFID leverage radio waves for automated tracking via tags and strategically placed readers. GPS and IoT provide real-time location data and condition monitoring for mobile assets through satellite and sensor integration. BLE beacons offer low-energy Bluetooth signals for indoor navigation and zone control, enhancing asset visibility within facilities. These advancements work together to create a comprehensive asset movement control ecosystem.
