6 December 2018

With GPS technology advancing faster than many people imagined, we are only beginning to realise the value that this technology can add to a variety of industries and businesses. One of the most burgeoning uses of this technology is asset tracking.

What is asset tracking?

Asset tracking refers to the process of tracking your company’s physical assets as well as any information related to these assets such as location, status and due date of arrival of assets.

What is asset tracking used for?

It all depends on the type of business you have, but essentially, it can be used to track any physical assets that you have, including tools, vehicles, equipment, IT devices or even the tracking of people.

Why the need for asset tracking?

Managing a large amount of assets in a company can often prove to be an operational headache, especially as it is difficult to keep track of these assets on a consistent basis. Tracking company assets ultimately enables you to save valuable time and money as critical information about asset usage is relayed to managers, thereby empowering them to either make timely interventions or change structures appropriately. Asset tracking data supports decision making that will help prevent theft, losses and maximise asset utilization rates.

Which industries use asset tracking?

There are numerous industries that can use asset tracking and benefit from this technology. Here are some examples:

Courier companies: Packages and vehicles can be tracked

Healthcare: Medical equipment can be tracked

Construction: Commonly used tools across multiple work sites and warehouses can be tracked

Education: Tracking through geofencing will ensure that expensive laboratory equipment stays within a university campus area

How are assets tracked?

While there are numerous ways to track assets, many companies in the modern era are turning to sophisticated technology such as electronic tagging and GPS technology. There are vast options for asset tags, including QR codes, NFC, barcodes, GPS, and beacons. The tags, in turn, are used to identify assets and act as a link between physical items and the information of these items in the database.  Mobile applications further allow companies to easily check and update asset information on the go.

If you’re interested in asset tracking, then look no further than Cartrack. Our Asset Track product is a wireless and self-powered GPS/GSM tracking unit that helps you track and monitor the movement of virtually any movable asset.

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