Traditional asset tracking methods, such as manual tracking and barcode systems, often struggle to keep up with the demands of modern businesses, lacking the real-time visibility, accuracy, and efficiency required for optimal operations. These outdated methods can lead to inefficiencies, increased costs, and a lack of control over valuable assets.
Key Limitations of Traditional Asset Tracking Methods
- Lack of real-time visibility: Manual tracking and barcode systems often rely on periodic checks or manual data entry, making it difficult to obtain real-time information about asset locations and status. This can lead to delays in locating assets, inefficiencies in workflows, and increased costs associated with searching for missing items.
- Inaccurate data: Manual tracking and barcode systems are prone to human error, which can result in inaccurate data entry and discrepancies in asset records. This can lead to incorrect inventory counts, misplaced assets, and financial losses.
- Time-consuming processes: Manual tracking and barcode systems require significant time and effort to maintain, especially for large organizations with numerous assets. This can divert resources away from core business activities and reduce productivity.
- Limited scalability: Traditional methods can struggle to scale as businesses grow and the number of assets increases. This can make it difficult to manage and track assets efficiently, leading to inefficiencies and increased costs.
- Lack of data analysis capabilities: Traditional methods often do not provide the data analysis capabilities required to gain insights into asset usage patterns, identify areas for improvement, and make informed decisions.
How To Boost Efficiency with Indoor Asset Tracking?
Digital advancements have transformed asset tracking, making it more accessible and affordable than ever before. Smaller, longer-lasting, and more affordable sensors enable businesses of all sizes to implement indoor asset tracking solutions. Real-time location systems (RTLS) provide managers and employees with real-time visibility of critical assets, enabling them to realize a wide range of practical benefits.
Key Benefits of Indoor Asset Tracking
- Improved asset visibility: Real-time location data provides instant access to information about asset whereabouts, eliminating the need for time-consuming searches.
- Enhanced operational efficiency: Streamline workflows, reduce search times, and optimize resource allocation by knowing where assets are at all times.
- Increased productivity: Empower employees to locate assets quickly and efficiently, reducing downtime and improving overall productivity.
- Reduced costs: Minimize losses due to misplaced or stolen assets, and optimize asset utilization to reduce maintenance and replacement costs.
- Improved decision-making: Access real-time data on asset usage, location, and performance to make informed decisions and identify areas for improvement.
- Enhanced security: Monitor asset movements, set up alerts for unauthorized access, and reduce the risk of theft or loss.
- Improved compliance: Ensure compliance with industry regulations and standards by tracking asset usage, maintenance, and location.
Until recently, these IoT-enabled asset tracking platforms were limited to large enterprises. Today, however, remote asset management is available across industries and use cases, enabling businesses of all sizes to reap the benefits of indoor asset tracking.
How Indoor Asset Tracking Transforms Businesses?
IoT-enabled solutions are transforming how businesses operate. Imagine the efficiency of Walmart or Amazon’s inventory management or how transportation and logistics companies seamlessly track vehicles and drivers. Their secret Sauce? Efficient asset tracking! Recognizing the value of organization, they invested heavily. Now, these same industrial asset tracking solutions are available to everyone. Just as the internet transformed the way we do business, IoT asset tracking solutions are poised to revolutionize the way we manage our assets.
How Does IoT Asset Tracking System Work?
IoT asset tracking systems work by attaching sensors or tags to assets, which collect data about their location, movement, and other relevant information. This data is then transmitted to a central platform or cloud-based system, where it is analyzed and processed to provide real-time insights and visibility.
Components of Indoor Asset Tracking Systems
The key components of an indoor asset tracking system include:
- Sensors or tags: These devices are attached to assets and collect data about their location, movement, and other relevant information.
- Gateways: These devices receive data from sensors and transmit it to the cloud or central platform.
- Network infrastructure: This includes the network connectivity (such as Wi-Fi, Bluetooth, or cellular) required to transmit data between sensors, gateways, and the central platform.
- Central platform or cloud-based system: This system collects, stores, and analyzes the data transmitted from the sensors or tags. It also provides a user interface for accessing and visualizing the data.
- User interface: This allows users to access and visualize data, generate reports, and receive alerts.
- Analytics and reporting tools: These tools enable users to analyze the data and generate reports on asset usage, location, and performance.
Key Considerations for Implementing IoT Asset Tracking
Before starting on an IoT asset tracking project, it is essential to carefully consider the following factors:
- Choosing the right technology: The choice of sensors, tags, and communication networks will depend on the specific needs of the business and the types of assets being tracked.
- Data security: Protecting sensitive asset data is crucial, and organizations must implement robust security measures.
- Scalability: The IoT asset tracking system must be scalable to accommodate future growth and changes in business needs.
- Integration with existing systems: The system should be able to integrate seamlessly with other enterprise systems, such as ERP and CRM.
- Return on investment: Businesses should carefully evaluate the potential benefits and costs of implementing an IoT asset tracking system to ensure a positive ROI.
Maximizing the Value of Asset Tracking Platforms
Asset tracking platforms offer a robust enterprise IoT solution. From high-value equipment to key personnel, these platforms enables workers to locate assets quickly using small tags and an accompanying app. However, the true power lies in the IoT cloud. The platform gathers and analyzes usage data to reveal valuable trends. Stakeholders can leverage these insights to optimize business productivity.
For example, the platform can track employee movement throughout the day. Data analytics can reveal potential bottlenecks impacting mobility. Additionally, location data can provide insights into how individuals spend their time, enabling management to improve efficiency by strategically redistributing tasks.
Technologies Behind Indoor Asset Tracking
Numerous technologies work together to achieve indoor asset tracking, with complexity varying based on specific business needs. Generally, two main categories exist: wide-area outdoor tracking and precise indoor location tracking.
Outdoor Asset Tracking: Most are familiar with GPS technology for outdoor asset tracking. The gig economy thrives on connecting individuals using GPS-based apps.
Indoor Asset Tracking: However, GPS accuracy plummets indoors. This is where indoor asset tracking comes in. It’s more intricate and typically requires a combination of technologies, each with its own advantages and limitations.
- Bluetooth Low Energy (BLE): Ideal for asset tracking due to its small, lightweight tags with long battery life. However, receivers are larger and power-hungry due to constant searching for low-power tags. Additionally, BLE offers a shorter range compared to other options.
- Low Power Wide Area Networks (LPWAN): Emerging network technologies specifically designed for large-scale IoT platforms. LoRa is a well-suited LPWAN option for indoor asset tracking due to its long range and ability to penetrate buildings. Its low interference offers a significant range advantage over Bluetooth and even Wi-Fi. As LPWAN caters to IoT devices, it often excels in asset-tracking use cases.
- Ultra-Wide Band (UWB): This cutting-edge technology offers high-precision, three-dimensional asset tracking with low-power tags. However, its novelty makes it the most expensive option.
Which Industries Benefit from IoT Asset Tracking?
IoT asset tracking can benefit a wide range of industries, including:
- Manufacturing: Track equipment, inventory, and work-in-progress to improve efficiency and reduce costs.
- Healthcare: Track medical equipment, patients, and staff to improve patient care and optimize resource allocation.
- Retail: Track inventory, store assets, and customer movement to improve store operations and enhance customer experience.
- Logistics: Track shipments, vehicles, and drivers to improve delivery efficiency and reduce costs.
- Construction: Track equipment, materials, and personnel to improve project management and safety.
Choosing the Right Indoor Asset Tracking System
When choosing an indoor asset tracking system, it is important to consider the following factors:
- Your specific needs: What do you want to track? What level of accuracy do you require?
- Your budget: How much are you willing to spend on the system?
- Your existing infrastructure: Do you have any existing systems that need to be integrated?
- The scalability of the solution: Can the system grow with your business?
- Ease of use: How easy is it to set up and use the system?
- The security of the data: How secure is the system against unauthorized access?
By carefully considering these factors, you can select the indoor asset tracking system that best meets your needs and helps you optimize your operations.
Making Informed Decisions about Indoor Asset Tracking
Business decision-makers don’t necessarily need to become technical experts. Having a general understanding of available solutions is often sufficient. Bridgera works with businesses to recommend indoor asset tracking solutions that align with their vision. Previously exclusive to industry giants, IoT asset tracking is now accessible to any business seeking to optimize operations.
Enhancing Visibility with Bridgera Indoor Asset Tracking
In asset management, having a precise and adaptable tracking solution is crucial. Bridgera’s Indoor Asset Tracking Solution stands out by offering unparalleled flexibility and ease of use. Here’s how it transforms your asset tracking:
- Custom Floor Plan Creation: Bridgera allows you to create your floor plan, tailored specifically to your space. This personalized approach ensures that the tracking system aligns perfectly with your operational environment.
- Upload Unique Floor Plans: If you already have a floor plan, Bridgera makes it simple to upload your unique layout. This feature eliminates the need for re-drawing or adjusting to generic templates, saving you time and effort.
- Virtual Asset Dragging: With Bridgera, you can virtually drag and position your assets on the floor plan. This intuitive interface makes it easy to manage and organize assets according to your specific requirements.
- Enhanced Asset Visibility: Once positioned, assets become easy to spot on the floor plan. This enhanced visibility ensures that you can quickly locate and manage your resources, improving operational efficiency.
- Customer-Centric Approach: Bridgera’s IoT solutions and services is designed with the customer in mind. The ease of creating, uploading, and managing your floor plan and assets ensures that you can focus on your core business activities without getting bogged down by complex tracking processes.
Key Benefits of Partnering with Bridgera
Bridgera’s team of experts can help you navigate the complexities of indoor asset tracking and select the right solution for your business. We work closely with our clients to understand their unique requirements and recommend tailored solutions that deliver maximum value.
- Comprehensive assessment: We conduct a thorough assessment of your business needs and challenges.
- Tailored recommendations: We recommend asset tracking solutions that align with your specific goals and budget.
- Expert implementation: Our team provides expert guidance and support throughout the indoor asset tracking system implementation process.
- Ongoing support: We offer ongoing support and maintenance to ensure the success of your asset tracking solution.
With Bridgera’s Indoor Asset Tracking Solution, you can gain greater control and visibility over your assets, leading to more efficient and streamlined operations.
Explore the possibilities of IoT-enabled indoor asset tracking solutions. Contact Bridgera today for a free consultation and discover how to gain real-time visibility, streamline operations, and boost your bottom line.
About Bridgera: Bridgera effortlessly combines innovation and expertise to deliver cutting-edge solutions using connected intelligence. We engineer experiences that go beyond expectations, equipping our clients with the tools they need to excel in an increasingly interconnected world. Since our establishment in 2015, Bridgera, headquartered in Raleigh, NC, has specialized in crafting and managing tailored SaaS solutions for web, mobile, and IoT applications across North America.
About Author: Gayatri Sriaadhibhatla is a seasoned writer with a diverse portfolio spanning multiple industries. Her passion for technology and a keen interest in emerging IoT trends drive her writing pursuits. Always eager to expand her knowledge, she is dedicated to delivering insightful content that informs the audience.