Asset tracking is the practice of monitoring the location and condition of physical assets in real-time or at specific intervals. It leverages various technologies like sensors, RFID tags, GPS trackers, and cellular connectivity to provide businesses with valuable data about their assets.
In this article we discuss five categories representing the most common applications of asset tracking with IoT in commercial and industrial settings.
High-Value Equipment
This includes anything from expensive machinery on a factory floor (industrial robots, CNC machines) to heavy equipment used in construction (excavators, cranes) or transportation (trucks, trailers). Tracking these assets helps ensure their utilization, prevent theft or loss, and optimize maintenance schedules.
Inventory and Supplies
Businesses often track raw materials, finished goods, and other inventory items to maintain optimal stock levels, avoid inventory shortages, and streamline logistics. This can be particularly important in warehouses, retail stores, or manufacturing facilities with just-in-time production processes.
Mobile Resources
Delivery fleets, service vehicles, or even mobile workforce personnel can benefit from tracking. This allows for real-time route optimization, improved dispatch efficiency, and enhanced customer service by providing accurate delivery ETAs.
Reusable Assets: Pallets, containers, and other reusable items used in supply chains can be tracked to optimize their usage, ensure timely return, and minimize loss.
Environmental Sensors
While not technically an "asset" in the traditional sense, sensors deployed to monitor environmental conditions (temperature, air quality, vibration) within a facility are increasingly being tracked and integrated with overall asset management systems. This data provides insights into potential equipment malfunctions or safety hazards.
The specific types of assets tracked will vary depending on the industry and the nature of the business.