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Investing in the right technology plays a crucial part in the success of an organization. We live in the era of digital transformation, where technology has improved every facet of businesses drastically, including asset tracking and management.
One size doesn’t fit all.
Struggling to find the best-fit tracking technology for your asset tracking purposes?
Upon understanding your tracking objective, the nature of your business, and the type of assets used, AssetCues helps you determine the tracking technology that works best for you.
Fixed assets tracking serves a different purpose for every client; in a nutshell, choosing the type of tracking technology depends on several factors. Therefore, identifying the tracking objective, whether to automate the inventory process or track the real-time location, must be met.
FACTORS OTHER THAN TRACKING OBJECTIVES INCLUDE
Tracking objective
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Nature of the assets
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Type of assets
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Asset mobility
if the asset is stationary and remains indoors, passive tracking works well. But, if the asset is mobile and needs tracking, then active tracking technology works better.
Frequency
The frequency of asset updates and tracking plays a role in determining the tracking technology. Questions like how often we need to track the asset and whether it is real-time or more periodic pings make a difference.
Cost
The cost of the asset is a major factor as well. Ensuring your tracking infrastructure is cost-effective is essential.
Depending on all these factors - you can either opt for a single tracking technology or combine different technologies to serve your tracking needs.
TRACKING TECHNOLOGIES
Essentially, two broad categories of tracking technologies are available - Passive and Active. The nature of tags and the reading technology dictate the difference between the two.
Active Tags
Active tags are smart and typically have a source of power to transmit information. Active RFID, GPS, and Beacons are examples of active tracking technologies.
Passive Tags
Passive tags do not store or transmit information. Some of the examples of passive tracking technologies are Barcodes and Passive RFIDs.
Barcodes
A cost-effective solution to automate asset inventory (physical verification) and reconciliation; barcodes are examples of passive tracking technology and help if the tracking objective is to automate the inventory process
RFID
Barring the hassles of scanning individual assets, RFID - both a passive and active tracking technology - helps automate asset inventory (physical verification), reconciliation within a limited distance range through mobile readers, and track the real-time location, depending on the tracking objective.
GPS
If you want to track assets spread outside of the company locations in real-time, GPS - an active tracking technology - will serve the purpose. It requires geofencing of assets but also helps track location-based analytics.
IoT
IoT enables the connection of fixed assets to a network that allows communication, data exchange, etc. You can know the asset location, status, and operating performance of assets across your operations in real-time using mobile devices and IoT-based equipment, and capital asset-tracking solutions. It will allow you to better monitor equipment, track inventory and service equipment, and increase employee efficiency.
WE LOVE TO SHARE OUR INSIGHTS
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