How Does IoT Help Asset Management

What Are Benefits Of IoT Asset Tracking System?

An IoT (Internet of Things) asset tracking system has the following key benefits:

Real Time Assets Visibility

IoT asset tracking gives you a real time, 24 / 7 visibility into the location and status of assets. You can review assets location and movement history for all your field sites via a single cloud software web dashboard. Real time asset data help you optimize equipment utilization, make better purchase and rental plans. You can instantly find missing or misplaced assets, reduce losses or theft.

Enhanced Efficiency and Accuracy

Automated IoT asset management system does not require manual labor. Company employees can spend all time on their main jobs, rather than doing asset tracking tasks. IoT asset tracking system does not rely on humans, and thus eliminates errors and mix ups.

Better Asset Utilization

With the real time data on asset usage you can plan asset allocation better. You can make sure that assets are being used to their full potential, there are no idle or over used assets.

Reduced Assets Loss And Theft

With the IoT asset tracking software you can make sure that assets are not taken or moved without authorization. You receive an instant alerts on all missing or misplaced assets, and can act on it quickly.

Reduced Asset Downtime

An IoT asset tracking system with the conditions monitoring give you a full view of assets performance and possible issues. You can address any small problem immediately and prevent assets damage or breakdown.

Who Should Use An IoT Asset Tracking System

An IoT asset tracking system is a good fit for you if:

• You have assets moving between dispersed field locations and have a hard time keeping track of what do you have where.
• It is critical that your assets do not leave a certain area, or do not appear in a certain area.
• Your assets are lost on the regular basis and you do not know whom you should hold responsible.
• You have sensitive assets for which you need to monitor conditions 24/7.
• You cannot rely on company employees to track assets using other asset tracking methods, such as QR code or barcode scanning.

Specific IoT asset tracking use cases include:

• Construction Use IoT system for real time tracking of construction equipment and tools between the job sites and the yard or warehouse.
• Warehousing and logistics Use IoT for real time tracking of goods flow in and out of the warehouse.
• Manufacturing Use BLE tags and gateways for tracking work orders through the production process in real time.
• Hospitals. Use IoT systems to track medical devices and monitor patients.

In summary, an IoT asset tracking system is a good fit for you if:

• you have moving assets that you need to keep track of
• for your business situation it is not practical to use traditional asset tracking methods, such as barcode scanning.

BLE-Based IoT Asset Management In Action - Case Study

How IoT Asset Tracking Works In The QR Inventory Software

Gain complete control over your mobile assets with the QR Inventory system's flexible asset tracking options. Choose the right combination of smart tags (QR codes, barcodes, NFS or BLE), trackers (a smartphone or IoT gateway), and technologies to fit your needs and budget. Whether you require manual scanning or fully automated tracking, the QR Inventory system has a solution for you.

Questions related to IoT asset tracking in the QR Inventory system

How can we use IoT technology for asset tracking?

Asset tracking is one of the most popular applications of IoT. Here is how it works:

• Attach a BLE tag to your asset..
• BLE tag transmits signals to a nearby IoT gateway.
• The gateway sends asset data (location, status) to secure cloud software. You can choose to host this software with us or on your own company network.
• Access real time asset info from anywhere 24/7 through a web browser. This gives you a complete picture of your assets across all your sites.
• Set up location alerts to be notified immediately if an asset goes missing or moves outside of a designated area.

Optionally you can use an employee with a smartphone instead of an IoT gateway. The employee can audit asset on the job site with one click in the mobile app, and send data to a cloud software with another click.

Which IoT technologies does QR Inventory software use for asset tracking?

A QR Inventory software uses Bluetooth low energy (BLE) technology for IoT asset tracking. BLE technology is ideal for IoT asset tracking due to:

• low power consumption, which translates into a long battery life
• cost-effective devices
• ability to communicate with the smartphones and computers, which expands your scanner options
• well defined stadards and vendor interoperability
• a good scanning range, that can be regulated based on specific needs

What kind of reports do we get in the IoT asset tracking system?

The following reports are available:

• List of assets in all locations.
• Current location for all assets in the trackable areas.
• Detailed asset movement history (where, when and for how long each has been).
• List of assets missing for more than pre-set number of hours.
• Assets utilization report (idle vs working).
• Asset movement through the gates.
• You can tag trucks or employees, and will receive a report on which assets were on which truck when they left the facility or were returned.
• You can establish discrepancies between assets leaving and returning, if any.
• All received alerts on misplaced assets.
• If the problem with the misplaced asset was corrected, and when.

In summary, you get all current and historic info on your assets, plus statistical and analytical data. You can link asset to a person or a truck, which increases assets accountability. You can quickly identify missing or misplaced assets. Analytical reports help you make better planning and informed business decisions.

What is involved in deploying an IoT asset tracking system?

You will need to do the following to set up an IoT asset tracking system:

• Attach BLE tags to the assets.
• Enter or import assets into the QR Inventory system.
• Install IoT gateways and register them with the QR Inventory system.
• Configure gateways scanning parameters.
• Set up alerts if needed.

After the above steps are done the asset tracking is fully automated. Field technicians and job site employees do not need to do any extra work for asset tracking. Asset data are delivered to the cloud software via IoT gateways, and you get real time reports.

What kind of alerts can we receive?

You can receive alerts if:

• An asset is detected in the area where it is not supposed to be.
• An asset left the are where it should be located.
• An asset is missing from all locations.

You can set up these alerts for the individual assets or asset groups.

Which asset tracking parameters can we control?

You can control the following asset tracking parameters:

• How often an IoT gateway scans for the assets.
• How often asset updates are sent to a back end cloud software.
• You can set different time intervals for the working hours and non-working hours.
• You can set work hours for each day of the week.
• You can set up a gateway to monitor assets in the location, or to monitor exits and entrances to the facility.

Batching asset tracking data on the gateway is beneficial and reduces the load on the cloud server. No mater how often asset tracking data are sent to the cloud software, alerts for the misplaced assets are sent to you right away without any delay.

What kind of BLE asset tracking tags do you offer?

BLE tags that come with the QR Inventory software are weather-proof, can withstand harsh outdoor conditions, have a long battery life and a decent scanning range. You can find more details on the BLE tags here.

IoT Temperature And Humidity Monitoring For Assets And Inventory

Protect your assets with real time condition monitoring

In addition to location tracking, the QR Inventory system offers optional IoT sensors for temperature and humidity monitoring. This is especially valuable for businesses managing temperature-sensitive inventory or assets that can be damaged by environmental conditions. By monitoring these conditions remotely, you can:

• Detect potential problems early before they cause damage or spoilage
• Take proactive measures to adjust storage conditions or schedule maintenance

Questions related to IoT temperature and humidity monitoring for assets

What IoT hardware is used to monitor temperature and humidity conditions for assets?

The QR Inventory software utilizes BLE temperature and humidity sensors that connect to the Bluetooth IoT gateways used for asset tracking. This eliminates the need for additional hardware. One gateway can collect data from all sensors within its range.

You can find more information on the IoT temperature and humidity monitoring system that comes with the QR Inventory software here.

Do we need to use IoT asset tracking system for monitoring asset conditions?

If you are not interested in the asset tracking you can use an IoT temperature and humidity monitoring system as a stand alone product. There are benefits of using an IoT asset tracking system together with the conditions monitoring though. A stand alone IoT temperature and humidity monitoring system gives you conditions in the area controlled by each sensor. You do not necesserily know which assets are currently located in this area. An asset tracking system knows where each asset is. Therefore, you can establish acceptable temperature and humidity conditions for each asset group. You can then get an accurate data log for each asset, based on its location and movement between locations.

Do we need to attach an IoT sensor to each asset?

You do not have to attach a sensor to each asset that you want to monitor. You can install one sensor per zone. A QR Inventory system keeps track of where each asset is and its movement between zones. It also knows temperature and humidity conditions in each zone. An IoT asset tracking system puts this data together to produce a temperature and humidity log for each monitored asset.

What aspects of the IoT temperature and humidity monitoring system can we customize?

You can set the following parameters for the IoT temperature and humidity monitoring system:

• How often temperature and humidity are measured.
• How often batched data are sent to a back end cloud software.
• If you only want to detect changes in the conditions, you can set a value step at which data are reported. This will reduce the amount of redundant data sent to the cloud server.
• Min and max values for both temperature and humidity. You can set these values for the areas monitored by a sensor, for individual assets or asset groups.

You receive an instant alert if temperature or humidity conditions go out of range.

What happens if a connection between a sensor and an IoT gateway is lost?

Temperature and humidity measurements are stored on the sensor, and can be retrieved later when connection is restored. The same is true with regards to the connection between the IoT gateway and a cloud server.

What reports do we get from the IoT asset conditions monitoring system?

You get the following reports:

• Digital temperature and humidity logs for any selected time interval. You can get this report for the individual assets and for the monitored zones.
• If and when asset conditions went out of range, and when the problem has been corrected.

IoT Asset Tracking Hardware And Software

An IoT asset tracking system requires both hardware and software that work together. A hardware include asset tags and gateways. You also need a gateway software that communicate to the asset tags and to a back end cloud software, linking them together. Finally you need a cloud software that collects data from the gateways, processes data and produces human readable reports. A QR Inventory system includes all hardware and software components that are required for the IoT asset tracking.

Questions related to IoT asset tracking hardware and software

What hardware do we need for the IoT asset tracking?

You need the following hardware components:

• Ble tags for the assets
• Bluetooth IoT gateways
• Iot sensors (optional)

Optionally you can replace an IoT gateway with an employee who will record assets using a smartphone. If you opt for the gateway, you have options as well. You can have a dedicated IoT gateway. You can also purchase a gateway software from us and install on the devices you already have. The devices can include iPads, Android tablets or Linux based computers.

Can we use a smartphone instead of an IoT gateway

Yes, you can use a smartphone if you prefer. In this case a human with a smartphone will need to take a record of the assets in all locations. He can do it one or several times per day. A person taking an assets record won't need to locate and scan each asset. A single click in the mobile app will find all nearby assets and add them to the batch. Another click will submit the batch to the back end cloud software for processing.

Using a mobile phone as an IoT gateway will reduce the overall cost of the IoT asset tracking system. The drawback is that it will require some, although very minimal, human participation.