Maintaining accurate asset tracking is no easy task, particularly when items are always on the move, being transported between warehouses and production facilities. Asset tracking devices help to monitor the location of specific assets in hospitals, logistics, manufacturing companies, farms, and other businesses. The application of the Internet of Things (IoT) can be an effective strategy in many fields. For example, factories depend on shipments of raw materials to keep their production lines running smoothly. Delays in shipments can severely hinder business processes. Using IoT asset tracking devices, in turn, allows factories to monitor these shipments remotely, connect to the drivers, cancel them, manage the routes or buy additional supplies when needed based on real-time data. This can help them avoid losing money and ensure their products are of the highest quality, and all of the physical assets are safe. Moreover, IoT can also help in avoiding accidents in the supply chain as connected devices send data in real-time, and provide all the necessary information for a quick reaction if needed.
IoT services can be a highly effective tool for tracking high-value assets. IoT-enabled asset tracking sensors in your inventory can help you monitor where your goods are at all times. They can also help you monitor your employees’ performance. You can use IoT asset tracking systems for tracking to protect your employees. It can also help protect your property from theft and damage. Real-time asset tracking systems can be life-saving for your company.
Areas of Applications
Advanced Smart Asset Tracking
There are numerous cases of asset tracking services in use in the today’s world. An asset tracking system can be used in many industries, including healthcare, manufacturing, and even education. First of all, IoT asset tracking devices can be embedded into items to prevent their loss. These IoT-enabled asset tracking solutions will help to prevent the items from being moved without authorization, and provide the exact location if they are lost or stolen. Currently, even some original equipment manufacturers and construction companies incorporate IoT technology into their products. Such a comprehensive solution is actually a great step towards better inventory management and preventing the loss of industrial assets.
IoT sensors also make the asset-tracking more efficient by automating the processes of asset administration. With the help of an asset tracking system, companies can eliminate manual tasks, save on replacement costs, and free up valuable resources for other tasks. IoT-enabled asset tracking systems can also be used to notify firms of major issues or alerts, which can be crucial in high-risk production factories, fleet management, and healthcare. With IoT asset tracking solutions, organizations can quickly and accurately respond to any problem or emergency, regardless of whether it is a natural disaster or human error, which will reduce the total cost of repairs and give a space for new revenue streams.
Additionally, real-time asset tracking systems are a great tool for educational institutions. Using IoT-connected devices, they can track the use of expensive electronics in real-time. They can also track access to labs and other equipment. Just one IoT-based asset tracking device in an educational institution can simplify the acquiring of real-time data on mobile assets’ location and equipment state, and improve connectivity within the institution.
This technology can also be used in logistics firms. For example, in logistics, thanks to global cellular coverage, IoT devices can provide reliable data on asset location. Example successfully implemented the LoRaWAN solution to a navigation app in Switzerland. This application has optimized customers’ and bus drivers’ experience on the road. With the use of IpinfraIOT solutions and gateways, bus drivers can connect to a network that provides data on occupancy, parking, best time route, and location information of critical infrastructure as gas stations, etc. This tracking solution applied in tourism is suitable for different industries and can make a lot of services more cost-effective.
Benefits of Asset Tracking
One IoT device can bring a lot of benefits and can be a platform for new services. Companies can use the data collected from IoT software sensors to make better decisions about their business, services they provide, improve control, connectivity, and productivity. The small investment required to implement Internet of Things technology will pay off in the long run since a company will significantly differ from its competitors in a good way. With so many applications for IoT, businesses will find it easy to justify the expense of an IoT device. That is why there is no need to wait for the next disaster to get started using tracking solutions and services in your market.
Additionally, asset management devices can help companies avoid losses and minimize their downtime. For instance, the system can detect when a specific asset is broken and not functioning properly, send a notification to a system engineer, check the availability of replacement parts, and send a purchase request to a supplier of heavy equipment. This way, with full connectivity between software, equipment, customers, and world suppliers, the entire process of asset management is automated, and businesses can reduce the amount of time that is spent searching for lost items. It will be a great benefit in a market race and help companies to manage all the processes in real-time.
Furthermore, IoT can be a highly effective tool for tracking high-value assets. Smart sensors in your inventory can help you track where your goods are at all times, which will help you to manage them in the supply chain or in the market in general. As you already know, the security of your business services can be compromised if you don’t have the right device to ensure this security. So, it is really important to keep an eye on operational data and manage the processes effectively based on customers’ preferences and updated information.