Asset Management Innovations: New Methods And Technologies To Streamline Your Operations

The world of asset management is evolving at breakneck speed. Stay ahead of the curve with the insights into the latest innovations transforming how we track, manage, and optimize assets.

Technologies That Help You Automate Asset Tracking

Automate Asset Management With Bluetooth Low Energy (BLE)

In a world where time is money and every item holds value, the ability to pinpoint the exact location of assets in real-time is a game-changer. Enter Bluetooth Low Energy (BLE) asset tracking – an innovative technology that's transforming how various industries from construction to manufacturing to healthcare, track their assets and employees.

Bluetooth low energy (BLE) is a wireless communication technology that allows you to automate asset tracking, using either smartphones or IoT gateways. This is a relatively new technology that is constantly evolving, providing more ways to effectively track assets for all needs and budgets.

The only hardware that you need for the system are BLE tags. You can use smartphones or tablets for transfering BLE signals to the cloud, and review location of your assets remotely on all monitored sites via a single web dashboard. You can use smartphones and tablets for bulk scanning, or as IoT gateways that monitor assets location automatically - no humans required.

More and more companies are implementing BLE-based asset management due to the BLE tags convenience (long battery life, cost effective, easy to install), system automation and accuracy, and ability to use existing devices and infrastructure. Learn how your company can take assets under control by using BLE technology.

❱❱ More On BLE Asset Tracking.

Track Assets In Real Time Anywhere With GPS

In the hyper-connected landscape of modern business, where assets constantly shift between locations, the ability to monitor their whereabouts in real time has become indispensable. GPS asset tracking, a technology that leverages the Global Positioning System (GPS), is revolutionizing how companies safeguard and optimize their valuable equipment.

At its core, GPS asset tracking involves attaching a battery-powered device (GPS tag) to an object. A GPS tags communicates with satellites to obtain its latitude and longitude coordinates, and transmits location data to the remote cloud server. A software residing on the cloud server produces human readable reports and maps that can be viewed on the computers or smartphones.

The applications of GPS asset tracking are vast and varied. Businesses utilize it to optimize fleet management, track construction equipment across the job sites, and streamline logistics operations.

❱❱ GPS Asset Tracking Guide

RFID Asset Tracking: A Classic Technology Still Delivering Results

Radio Frequency IDentification (RFID) asset tracking is a time-tested technology that continues to offer valuable solutions for businesses. It was the first of many radio frequency technologies available now that allowed for the bulk scanning of assets, as well as automated tracking with RFID receivers, or gateways.

Bulk scanning and automated asset tracking ability of RFID streamlines processes and reduces labor costs compared to manual methods. While newer technologies, such as Bluetooth Low Energy (BLE) and Near Field Communication (NFC) are gaining popularity, RFID remains a viable choice for certain scenarios.

Like the other radio-frequency based asset tracking technologies, RFID requires a tag that broadcasts asset ID, and a receiver that can read data from the tags. Unlike newer technologies (BLE and NFC), RFID is not supported by smartphones, tablets or computers, so you need a dedicated scanner or gateway. This is a drawback of using RFID for many companies.

The advantage of RFID is that it offers both passive and active tags. Passive tags do not need batteries, they are activated by the scanning device. Therefore, their design is very simple and they are very inexpensive. Passive tags can be read from a distance of 1-10 meters, depending on the tag type, that works well for bulk scanning. If you have thousands of assets that you need to track at the short distance, RFID technology would be your best choice. It will be much more cost efficient than BLE, which only has more expensive active tags, and will have better scanning range than NFC, which requires a scanning distance of less than an inch.

Real Time Location System (RTLS) With BLE or RFID

In many business scenarios knowing asset location in terms of a zone in the warehouse, or a specific area of a job site, is all that is required. However, there are scenarios when you might need a more precise asset position. That's when you need a Real Time Location System (RTLS).

RTLS is a new method of asset or people tracking that can determine asset position with the precision of several meters, rather than giving a broader area. Radio-frequency technologies, such as BLE or RFID, can all be used for RTLS.

The RTLS system uses a triangulation method, which involves measuring distance of the tagged asset from several receivers to narrow down asset location. The more precise you need this location to be, the more gateways, or receivers you will need to install.

RTLS is more expensive and harder to deploy than asset tracking systems that give you a broader asset location area. However, it may be necessary in the situations when you need to track medical equipment or patients in the hospitals, track assets through the production line, or locate a high value equipment.

Streamline Asset Tracking With NFC Tags: The Faster Alternative to QR Codes

NFC technology offers a powerful yet underutilized solution for asset tracking. As compared to other asset tracking technologies, such as BLE / RFID or QR codes, NFC strikes the perfect balance between efficiency and cost.

NFC (Near Field Communication) is a wireless technology similar to RFID, but with a much shorter scanning range. Unlike BLE and RFID, where you can bulk scan assets at a distance, with NFC you need to touch an asset with the scanning device to register it. If you are looking for bulk scanning or a fully automated asset tracking system, NFC is not your choice.

However, for businesses mindful of their budget, NFC presents a compelling alternative to RFID or BLE. NFC systems offer similar cost-effectiveness to QR code-based solutions, yet they offer a major advantage over QR codes in terms of speed. With a simple tap of your smartphone, you can instantly scan an NFC tag, drastically improving the efficiency of the high-volume asset transactions.

❱❱ More on NFC Inventory Management

IoT Gateways for Automated Asset Tracking

Ever wonder how your business can track hundreds or even thousands of assets in real-time? The answer lies in IoT gateways.

IoT gateways is an essential part of the automated asset tracking infrastructure. Many asset tags and sensors are based on the short range wireless technologies, such as BLE, Zigbee, or Thread, and do not have capacity to connect to the internet directly. Gateways act as the bridge between local IoT devices and remote cloud servers.

One gateway can collect data from hundreds of devices. This info is processed, filtered, and transmitted to a centralized cloud platform, where it is transformed into actionable insights.

One of the key advantages of modern IoT gateways is their edge processing capabilities. This means that data is processed locally on the gateway, filtered, batched, and only then transmitted to the cloud server. This approach reduces load on networks and cloud servers, lowers data storage costs, and improves responsiveness.

It's important to choose an IoT gateway that's compatible with the specific sensors and tracking technologies you're using, as well as the software on your cloud platform. Some gateways can be customized to fit into your existing system, while others come as part of a complete IoT asset tracking solution.

IoT gateways enable real time location tracking and condition monitoring, empowering businesses to optimize operations, minimize losses, and make data-driven decisions that improve their bottom line.

❱❱ BLE Asset Tracking With IoT Gateways

Track Assets With Precision - Ultra-Wireband Technology (UWB)

Ultra-wideband (UWB) technology is a game-changer in the realm of asset tracking, offering unparalleled precision for pinpointing the exact location of assets. Utilizing radio waves across a wide spectrum of frequencies, UWB measures the time it takes for signals to travel between devices, enabling accuracy down to a few centimeters.

This exceptional precision makes UWB ideal for applications where knowing the exact location of assets is critical. These applications may include locating medical assets and patients in the hospital, manufacturing production lines and work in progress tracking, or locating high value assets in the warehouse or on the job sites.

UWB can be a viable replacement for the more established Real Time Location System (RTLS), that uses multiple gateways and triangulation method to determine a precise asset location. UWB technology will require less anchors (same as gateways for BLE or RFID asset tracking), and still can provide higher precision than RTLS based on BLE or RFID.

By providing real time, highly accurate location data, UWB asset tracking empowers businesses with granular visibility, streamlining operations, improving asset management, and ensuring the security of valuable assets.

Long Range Asset Tracking With LoRaWAN

LoRaWAN (Long Range Wide Area Network) is a wireless communication protocol designed for low-power, wide-area networking. In the context of asset tracking, LoRaWAN shines where other technologies fall short. Unlike Bluetooth Low Energy (BLE), which has limited range, LoRaWAN can transmit data over several kilometers, making it ideal for tracking assets across large facilities, outdoor areas, or even entire cities.

Compared to RFID, which often requires close proximity for reading tags, LoRaWAN offers superior range and penetration through obstacles. Additionally, LoRaWAN devices are battery-powered and can operate for years without needing replacement. It reduces maintenance costs and ensures uninterrupted tracking.

Its low power consumption, long range, and ability to penetrate obstacles make LoRaWAN a compelling choice for asset tracking applications where wide area coverage and minimal maintenance are essential.

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