Who needs asset tracking?
Asset tracking software is important to all types of organizations, but especially within companies that rely heavily on assets for operations. Airlines, construction companies, fleet companies, and manufacturers, for instance, all need to track and maintain complex equipment.
What is asset management tracking?
A Definition of Asset Tracking Asset tracking, sometimes referred to as asset management, is the method you use to track your physical assets, whether you scan barcode labels attached to them or you use GPS or RFID tags that broadcast their location.
What is RTLS asset tracking?
A real-time location system (RTLS) is a precise positioning system that can be used to track, protect, secure, and manage a wide variety of objects (assets, equipment, and people) in real-time within a broad range of industrial, commercial, and healthcare environments.
What are the benefits of asset tracking?
Benefits of Asset Tracking Software
- Extending the life of assets. When an asset is purchased, it is obvious to expect revenue generation from the asset.
- Reduce maintenance expenses.
- Streamlining audit & daily operations.
- Scheduling & tracking asset maintenance.
- Increase productivity.
- Check-In/ Check-Out.
How do companies keep track of assets?
Asset tracking, also referred to as asset management, is a method of tracking a company’s physical assets. This process captures the vital information by scanning barcode labels attached to them or using RFID (radio-frequency identification) tags or GPS (global positioning system) to broadcast their location.
What are the actual risks associated with assets?
The author suggests that there are at least five such risks that primarily contribute to an organization’s failure to optimally manage their assets: 1) not knowing what they have; 2) over or under maintenance; 3) improper operation; 4) improper risk management; and 5) sub-optimized asset management systems.
What is an asset strategy?
Asset strategy management is a systematic approach to the production, organization, planning, and maintenance of all assets within an organization. A key part of asset strategy management is analyzing the risks of downtime or outside threats like energy shortage or natural disasters.