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What is asset tracking and how does it work?
Asset tracking definition
Asset tracking involves the use of technology to monitor the location and status of physical assets. This process allows businesses to efficiently manage and safeguard their valuable resources, where they gain real-time insights into asset usage. By tracking assets the right way, companies can minimise losses, optimise operations, and improve overall productivity.
What is asset tracking?
Asset tracking is the systematic approach to monitoring and managing physical assets via technology. There are three main types of asset tracking: barcode, RFID, and GPS. Barcode systems track assets through scanning unique barcodes attached to items, while RFID uses radio waves to detect and monitor tagged assets.
GPS asset tracking, which Radius specialises in, utilises satellite signals to provide real-time location data. When using asset tracking with GPS monitoring systems, it offers superior accuracy and comprehensive monitoring - ideal for managing high-value or mobile assets.
How does asset tracking work?
Asset tracking works by attaching tracking devices to assets. These devices then transmit location and status data to a centralised system. For GPS tracking, they use satellite signals to offer real-time updates on asset locations.
This data is accessible via specialist software platforms – Kinesis in the case of Radius – which gives businesses detailed insights into asset movements and utilisation. By continuously monitoring assets, companies can enhance security, optimise usage, and streamline operations. Proactive asset management is also achievable by setting up alerts and notifications for the likes of unauthorised movements.
Why asset tracking is important
If your business operates with any valuable resources, it’s essential to use asset tracking. In summary, it helps prevent theft and loss, achieves optimal asset utilisation, and reduces operational downtime. That’s not all. By gaining real-time visibility into asset locations, your company can make informed decisions, improve maintenance schedules, and enhance overall efficiency.
There are also the financial benefits to consider. Along with greater efficiency and supporting recovery efforts in the case of theft, asset tracking can lower insurance costs for your business.
How to use asset tracking
First begin by installing GPS asset location tracking devices on your equipment. These devices, small in size and battery-powered, are easy to install and can be concealed to prevent tampering. Once installed, the devices can then be integrated with out user-friendly Kinesis software.
The software supplies real-time location data, utilisation reports, and maintenance schedules. With the information given, your business can manage its assets more effectively. Furthermore, you can take it a step further, setting up customised alerts and reports to further refine your asset management strategy.
Ways businesses utilise asset tracking
With outdoor asset tracking, trailers are one of the more common examples. They help businesses monitor trailer locations, optimise utilisation, and manage inventory effectively.
In construction, asset tracking is used to monitor expensive machinery and equipment across multiple sites. It enhances visibility, boosts security, and ensures construction assets are used correctly.
There are various benefits gained from tracking agricultural equipment like tractors and harvesters. It enhances asset management and prevents theft, aspects that improve overall farm productivity.
Company vehicles can be tracked for everything from usage monitoring to the optimisation of routes. This helps reduce fuel costs, improve productivity, and check vehicle availability when needed.
Why choose asset tracking from Radius
There are many reasons to choose asset tracking solutions from Radius. Your business can instantly benefit from cutting-edge GPS technology that’s built for accuracy and reliability. Our tracking devices are also robust and easy to install, where the real-time location data they provide enhances asset security and management. Furthermore, with our user-friendly software, you can enjoy in-depth insights into the likes of asset utilisation and maintenance needs.
Trust Radius for the finest asset tracking, which safeguards your valuable assets and optimises business operations.
Frequently asked questions
Can’t find an answer to your question? Talk to the Radius customer support team on 1800 723 487. We’re here to help you with any questions or concerns you may have.
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