What are asset tracking devices?

Asset tracking devices are devices that track physical assets, either by scanning barcode labels or by using tags that rely on GPS or RFID tracking systems to broadcast their location.

With the asset tracking market expected to be worth $32 billion by 2024, it is evident that more and more industries are recognising the benefits of precision location services. From construction companies to hospitals, having total visibility of your assets can transform business operations; saving time, money and resources.

Here is a quick round-up of some of the ways asset tracking devices are transforming traditional industries and a look at some of the most advanced asset tracking devices available on the market today.

Asset tracking in the automotive industry

In automotive technology, asset tracking devices can offer multiple benefits, such as roadside assistance, airbag navigation, stolen vehicle tracking services and more. By integrating a control unit such as a ‘black box’ module, businesses are able to gather diagnostic information from sensors which can significantly improve connectivity solutions.

One such example of automotive asset tracking comes from Tracks360’s Orion Data Network. Our asset tracking devices have proven to significantly increase the recovery rate of stolen vehicles. With bespoke asset tracking solutions that are quick to install and easy to integrate into your existing system, your business will benefit within just a few hours. Reports and alerts are sent straight to your mobile – giving you total visibility and control over your businesses’ automotive assets.

Asset tracking in the construction industry

Contractors are constantly traveling between jobs – which can significantly increase the opportunity for mistakes to be made. Tools can end up at the wrong job site, in the back of a truck or van, or even left behind in a dusty warehouse. With this in mind, it is no surprise that asset tracking devices are becoming an essential requirement in the construction industry and it is estimated that as many as 42% of contractors will be tagging their equipment by 2022.

Our construction solutions make use of smart tags that can monitor, track and recover your construction site assets. These asset tracking devices also have the capability to send instant alerts if your plant, assets or site is subjected to tampering or uninvited visitors.

Asset tracking in the manufacturing industry

Asset tracking devices have revolutionised the manufacturing industry. By deploying wireless sensors on machines throughout a factory, managers are able to detect when a certain piece of equipment is beginning to malfunction well before it actually does.

These devices also use smart sensors to automatically track parts as they move through the assembly process, providing a real-time view of production output and helping to identify and resolve bottlenecks.

Asset tracking in the supply chain logistics industry

Supply chains are another industry that has benefited hugely from the solutions offered by asset tracking devices. This is because asset tracking devices allow companies to monitor events across their supply chains, delivering access to real-time data of assets such as trucks, shipping containers, and even individual products.

Manufacturers are able to use these smart sensors to track and monitor inventories as they move from location to location in the chain. That includes shipments of supplies needed to make products and the delivery of finished goods. Asset tracking also gives manufacturers the benefit of increased visibility into product inventories, which provide more accurate schedules for the availability of materials and the shipment of products to customers.

Tracks360’s RFID tags attach directly to items, or their packing, or their containers, and can be used to monitor and manage the movement of the products throughout the entire supply chain. These tag readers can provide real-time data to enable more frequent, accurate and cost-effective inventory counts.

Asset tracking in the pharmaceutical and healthcare industry

Hospitals and other healthcare facilities typically need large inventories spread across large, multi-floored sites. Staff searching for misplaced or lost assets can cost the healthcare sector millions of pounds each year which is why asset tracking devices can help in the management of these assets. By placing RFID labels on equipment such as stretchers, wheelchairs, ECG machines and more, assets can be traced through RFID readers and monitored on mobile-based software, available on employees’ devices.

Tracks360’s smart tags and sensors can provide your business with a simple and cost-effective asset management and access control system that considerably improves asset visibility and asset utilisation.

Asset tracking solutions from Tracks360

The award-winning Orion Data Network, designed by Tracks360,uses a combination of RFID and GPS tracking systems to provide real-time asset tracking on a bespoke dashboard that is quick to install and easy to integrate into your existing system. These devices can be utilised by a number of industries that include, among others, breweries and distilleries, canine tracking, cash in transit, container and pallet tracking, farm, machinery and livestock security and much more.

The benefits of Tracks360’s asset tracking devices

These devices help your business to save time, money and resources by minimising waste and maximising productivity. They enable predictive and preventative maintenance scheduling which can dramatically reduce operational costs and they not only reduce risk, but reduce your businesses’ carbon footprint.

We’ve mentioned just a few of the limitless use cases of Tracks360’s asset tracking devices. Contact us today to speak to one of our experts who will advise you on the most efficient and cost-effective asset tracking solution for your business’ needs.