How Does an Asset Tracking System Work?

Assets, such as equipment and vehicles, are the pillar of many businesses, and tracking asset-specific metrics is a crucial element of efficiency, productivity, and cost management. Asset tracking systems can help you gain better visibility of equipment in general, as well as ensuring that they are being used effectively.

Traditionally, asset tracking systems were manually logged on spreadsheets. This left room for human error and meant spreadsheets needed to be constantly updated. In this article, we will discuss the benefits of asset tracking systems that are fully automated and how they work, and how they can seamlessly integrate into your workflow.

What is an Asset Tracking System?

An asset tracking system is placed on high-value assets such as tools, mobile equipment, portable storage racks, and vehicles. These tags offer asset visibility by sending short bursts of data regularly over a wireless network. These data bursts transmit the status, location, and condition of the asset and they can be tracked in real-time using software on workstations or mobile devices. the automated process can significantly decrease the overall average search time.

The Key Benefits of Asset Tracking Systems

Asset tracking systems enhance efficiency, minimize downtime and reduce overall costs. Industrial sites have many elements involved to make them a success including people and tools. If a vital component of the manufacture goes missing, a significant hold-up in the process is triggered. This then has a knock-on impact on the entire system, rendering it inefficient. This inefficiency ultimately impacts operational productivity and the bottom line.

Asset tracking systems enable real-time or near real-time location of assets, decision-making optimisation, and enhanced security. This then enhances compliance and auditing and increases security.

Asset tracking systems also enable employers to assign key pieces of equipment to specific employees, giving them full responsibility for the equipment.

Asset Tracking Systems from Extronics

If a piece of equipment goes missing, manpower is required to locate that asset. If the equipment is not found, a replacement must be sourced. Using an asset tracking system completely rules out the need for frantic searching and does not decrease productivity. This also gives employees peace of mind to ensure that all their expensive equipment is in the right place at the right time.

Extronics offers a range of asset tracking solutions allowing businesses to get an accurate, up-to-date location and status update.

Products such as the iTAG500 range of UHF intrinsically safe passive RFID asset tags are a perfect solution for harsh and hazardous environments present throughout the process industries. Certified Intrinsically Safe to ATEX, IECEx and FM standards, the iTAG500 range of tags have excellent read signal on, off, and near metals and liquids.

Other asset tracking systems include Extronics iRFID500, a powerful handheld passive RFID reader that can connect to your smart devices via Bluetooth or work as a standalone device for operational flexibility, or Extronics range of iSCAN barcode scanners, designed for use in hazardous areas. Designed to increase efficiency, productivity, and accuracy to improve your asset tracking, inventory management, and regulatory compliance with options to read all standard 1D, stacked PDF, and 2D barcodes. Certified to ATEX / IECEx Zones 1, 2, 21, and 22 standards means the iSCAN range is an ideal solution for inventory management in hazardous or harsh environments. Our system also provides a historic location trail, offering precise insights into the route each asset took to reach its end destination. Planners and operators can use this information to optimize paths for efficiency and rule out unnecessarily complicated procedures.

To find out more about how to implement our asset tracking technology into your workflow, get in touch with us today.