Assettracking

Asset tracking is a set of practices and technologies used to monitor physical assets throughout their lifecycle, from acquisition to disposal. The goal is to improve utilization, prevent loss, ensure compliance with regulations, and enable faster decision making in operations, maintenance, and finance.

Core components include tagging technologies such as barcodes, QR codes, RFID, NFC, and Bluetooth beacons, along with readers, mobile devices, and fixed scanners. For mobile or transit assets, GPS or cellular trackers may provide real-time location. Data from these devices feeds an asset management system or ERP.

Asset tracking finds wide use in manufacturing, logistics, healthcare, IT asset management, construction, and public sector applications. It helps locate equipment, monitor working condition, schedule preventive maintenance, track consumables, manage inventory levels, and verify regulatory or contractual obligations across sites and suppliers.

In operation, assets are registered in an asset registry, tagged, and continuously scanned or read as they move or change state. The data is collected, cleansed, and reconciled with records in an asset management system, CMMS, or ERP, enabling dashboards, audits, and exception alerts.

Benefits include improved visibility and control, higher asset utilization, reduced loss and theft, optimized maintenance intervals, and better budgeting and depreciation planning. Real-time location and status data support workflow efficiency, inventory planning, and regulatory compliance, while analytics support long-term capital planning.

Challenges include upfront costs, tag durability in harsh environments, data quality and integration with existing systems, and privacy or security concerns. Organizations must consider interoperability standards, data governance, and ongoing tag maintenance, along with training and change management.

Standards and best practices emphasize unique identification and interoperability, with GS1, ISO 15459, and EPC Global RFID standards guiding tagging and data exchange. Consistent naming, versioning, and lifecycle processes improve accuracy, provenance, and cross-system reporting.

Related topics include inventory management, IT asset management, and supply chain traceability.