“Leveraging RFID, barcoding, BLE, IoT technologies and making a clear plan to measure asset tracking metrics, correctly implementing asset tracking solutions, and continuous monitoring is required to maximize asset tracking efficiency.”
If you’re a business owner or warehouse manager in retail, supply chain, and logistics, or simply run an IT, healthcare, or educational institution, asset tracking and management plays a significant role in the entire business operation. Having complete visibility of assets all the time is crucial to productivity, sales, and customer experience at large and it is true for most businesses.
When it comes to asset tracking and asset management, there are various technologies to leverage starting with RFID (Radio Frequency Identification), Barcode, IoT devices and Sensors, BLE (Bluetooth Low Energy), etc. You’d be surprised to know that RFID technology has become the go-to choice for businesses in retail, supply chain, and healthcare. IT firms also employ RFID labels for tagging each IT asset and obtaining complete visibility through ITAM (IT Asset Management). In healthcare, RFID technology plays a crucial role in labeling medicines and vaccines, medical instruments, tracking patients newborns, and doctors through wristbands and ID cards, as well as ensuring the authenticity of crucial medical supplies. The use of BLE beacons has truly revolutionized indoor navigation, localization, and warehouse management. BLE beacons offer precision and a great read range, making them a suitable choice in inventory tracking and management.
Now that we’re clear on how significant the role of technology is let’s see how one can maximize asset-tracking efficiency while implementing these technologies.
Maximizing Asset Tracking Efficiency
Asset tracking and asset management can fetch desired results when driven by technology. Various technologies that can be leveraged to maximize asset tracking efficiency are as followings:
1.RFID technology
2.Barcoding
3. BLE
4. IoT
5. GPS
6. UWB, etc.
Apart from leveraging above mentioned technologies, making a clear plan to measure asset tracking metrics, correctly implementing technologies and continuous monitoring are also required. In most cases, availing the services of a firm with expertise in AIDC solution and RFID asset tracking and management solution benefits greatly. Ruddersoft Solutions Private Limited and EnCstore.com are the leading provider of RFID and barcoding supplies and asset tracking and management solutions in India, offering end-to-end asset tracking solutions.
Maximizing Asset Tracking Efficiency with RFID
Asset tracking is a critical aspect of modern businesses, as organizations are constantly seeking ways to optimize their operations and improve their bottom line. Leveraging RFID technology is a key strategy for maximizing asset-tracking efficiency. RFID technology utilizes radio frequency signals between RFID tags, RFID readers, and antennas to automatically identify and track tags attached to objects. It has revolutionized asset tracking by providing real-time visibility into the location and status of assets, leading to improved inventory management, reduced operational costs, and enhanced security.
RFID technology offers several advantages for asset tracking.
1.It enables automated data capture, eliminating the need for manual scanning or data entry. Such automation significantly reduces human errors and increases the speed and accuracy of asset-tracking processes.
2. Additionally, RFID tags can be read from a distance, allowing for quick and efficient inventory management. The ability to simultaneously read multiple RFID tags (some RFID readers can read over 1300 tags/sec) further enhances the speed and efficiency of asset tracking.
3. RFID technology supports passive and active tags. UHF Passive RFID tags do not require a power source and are activated by the RFID reader's electromagnetic field, making them ideal for tracking assets over long periods with minimal maintenance.
Moreover, the low cost of RFID labels, starting at INR 3 (4-5 US cents) also makes RFID technology a preferred option when it comes to asset tagging.
4. Active RFID tags can also be used for asset tracking. These tags have their own power source, enabling them to transmit signals over longer ranges (up to 100m) and provide real-time tracking capabilities.
This versatility allows organizations to choose the most suitable RFID tag based on their specific asset-tracking requirements. Retail firms like Walmart, Target, Zara, H&M, etc. are already utilizing RFID tags to tag their retail assets and orders, allowing for enhanced inventory visibility and order fulfillment.
Maximizing Asset Tracking Efficiency While Leveraging Bluetooth Low Energy (BLE)
In addition to RFID, Bluetooth Low Energy (BLE) technology plays a crucial role in maximizing asset tracking efficiency. BLE is a wireless communication technology developed on Bluetooth protocol and it enables devices to transmit and receive data with minimal energy consumption. When it comes to asset tracking, BLE technology offers benefits such as low power consumption, cost-effectiveness, seamless integration with smartphones and other devices, and efficient indoor navigation and tracking.
BLE beacons are commonly used for asset-tracking applications. These small, battery-operated devices emit BLE signals that can be detected by smartphones or other BLE-enabled receivers. Strategically placing BLE beacons throughout a facility or environment allows organizations to create a network of location-aware beacons that enable precise asset tracking and monitoring. Such a level of granular tracking provides real-time insights into asset movement, utilization, and environmental conditions, ultimately leading to improved operational efficiency and decision-making.
The low power consumption of BLE technology ensures extended beacon battery life (up to 5 years and more), reducing maintenance efforts and costs associated with replacing batteries frequently.
BLE's compatibility with modern smartphones allows for seamless integration of asset tracking data with mobile applications, empowering employees to access real-time asset information and take immediate action based on location-specific insights.
Maximizing Asset Tracking Efficiency Leveraging Barcoding Technologies
Barcoding technology has long been a cornerstone of asset tracking and inventory management systems. While barcoding technology may not offer the real-time tracking capabilities of RFID, BLE, and IoT, it remains a fundamental asset-tracking tool that provides simplicity, reliability, and cost-effectiveness and with QR Codes, the efficiency is far superior to UPC barcodes.
Barcoding technology enables organizations to assign unique identifiers to assets, products, and inventory, facilitating accurate and efficient tracking throughout the supply chain and within organizational facilities. Barcoded assets can be quickly scanned using handheld or fixed barcode readers, allowing for rapid inventory counts, asset verification, and location tracking. Thus barcode-streamlined process enhances asset visibility and reduces the likelihood of errors associated with manual data entry.
In addition, barcoding technologies can be seamlessly integrated with enterprise resource planning (ERP) systems, inventory management software, and other business applications, enabling organizations to maintain accurate and up-to-date asset tracking records. The simplicity and widespread adoption of barcoding technology make it an indispensable asset-tracking tool, particularly for organizations looking to maximize efficiency while leveraging existing infrastructure and resources, in a cost-effective manner, for example; libraries and retail departmental stores.
Maximizing Asset Tracking Efficiency with IoT
The Internet of Things (IoT) is another powerful tool for maximizing asset tracking efficiency. IoT generally refers to the network of interconnected smart devices and sensors that collect and exchange data over the internet. In the context of asset tracking, IoT enables organizations to deploy a vast array of sensors and connected devices to monitor assets in real-time, gather environmental data, and automate asset management processes.
IoT-enabled asset-tracking solutions leverage a combination of sensors, RFID tags, BLE beacons, GPS tags, and other IoT devices to create a comprehensive asset-tracking ecosystem. These sensors can capture data related to asset location, temperature, humidity, motion, and other relevant parameters, providing a holistic view of asset conditions and facilitating proactive maintenance and decision-making.
IoT platforms and cloud-based asset tracking systems enable centralized data management and analysis. Data nowadays plays a great role in comprehensive asset management and aggregating and analyzing asset data from diverse sources allows organizations to gain valuable insights into asset utilization patterns, predictive maintenance requirements, and performance optimization opportunities. Such a data-driven approach to asset tracking empowers organizations to make informed decisions that drive operational efficiency and cost savings.
In conclusion, maximizing asset tracking efficiency requires a comprehensive approach that leverages a combination of RFID, BLE, IoT, and barcoding technologies. Each of these technologies offers unique capabilities and advantages. The use of these devices and sensors to measure asset metrics, and monitor asset location and utilization as well as asset lifecycle complements the asset tracking and management operations, maximizing efficiency and productivity.
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