Do you need to gain better visibility into your assets? Are you wasting time and money with inefficient asset tracking strategies?
Using the power of IoT, businesses now have a variety of options when it comes to advanced asset tracking technologies. Combining different IoT technologies can give businesses powerful insights into their asset movement while increasing operational efficiency.
In this blog post, we’ll explore the various benefits enabled by combining IoT asset tracking technologies and provide advice on how to leverage them for added value.
Read on to learn how to increase efficiency and profitability through better insight into your assets.
What Is IoT Asset Tracking?
IoT asset tracking is a revolutionary technology that is changing the game for businesses across industries. This technology enables organizations to track their assets in real-time, giving them the ability to make informed decisions on inventory control and asset utilization.
With the advent of IoT asset tracking technologies, companies can now get a bird’s eye view of their entire asset inventory, from raw materials to finished products, providing valuable insights into their supply chain management.
By implementing IoT asset tracking, businesses can avoid costly losses due to theft, misplacement, or inventory issues, and optimize their operations to ensure maximum efficiency.
The uses and benefits of smart asset tracking technologies are endless, making it a must-have for any forward-thinking organization striving for success in the modern business landscape.
IoT Asset Tracking Technologies Explained
As the Internet of Things (IoT) continues to grow, asset tracking technologies have become an essential component for businesses. These technologies enable companies to track and monitor their assets in real-time, providing them with valuable insights into their operations.
From GPS tracking devices to RFID tags, there are several cutting-edge tracking technologies, each with its own pros and cons, that businesses can use to stay on top of their assets:
Radio Frequency Identification (RFID)
RFID, or Radio Frequency Identification, is a technology that uses radio waves to identify and track objects. Active RFID tags are typically attached to objects such as pallets, containers, or individual items, and each tag contains a unique identifier that can be read by an RFID reader. RFID technology is used in a variety of asset tracking applications, including inventory management, supply chain tracking, and security.
Near Field Communication (NFC)
Near Field Communication, or NFC, is a technology that enables two devices in close proximity to communicate with each other over a short range. NFC tags are typically embedded in devices such as smartphones or smart cards, and they can be used to trigger various actions, such as making a payment or transferring data. NFC tags can also be used for asset tracking, as they can be used to store information such as the location of an asset or the identity of the owner.
Global Positioning System (GPS)
GPS, or Global Positioning System, is a technology that uses satellite signals to determine the location of a device. GPS tracking devices are typically used to track long range assets like vehicles, but they can also be used to track assets such as containers or trailers. GPS tracking systems typically use a combination of hardware (e.g., GPS receivers) and software (e.g., mapping applications) to provide real-time asset tracking.
Bluetooth Low Energy (BLE)
Bluetooth Low Energy, or BLE asset tracking, is a wireless IoT technology that allows devices to connect to each other over short distances with optimal power efficiency. Bluetooth-enabled devices can exchange data wirelessly, and Bluetooth tags can be used for asset tracking. BLE beacons can be used to track critical assets such as returnable containers, tools, equipment, or inventory items.
WiFi
WiFi is a wireless technology that allows devices to connect to the internet or each other without the need for cables. WiFi-enabled devices can exchange data wirelessly, and WiFi networks can be used for asset tracking. WiFi networks typically have a read range of up to 300 meters (980 feet), and they can be used to track assets such as laptops, tablets, or smartphones.
Cellular Networks
Cellular networks are wireless networks that use cell towers to communicate with mobile devices. Cellular networks can be used for voice calls and data communications, and they can also be used for asset tracking. Cellular-based asset tracking systems typically use a combination of hardware (e.g., cellular modems) and software (e..g., mapping applications) to provide real-time asset tracking.
What sets these technologies apart from traditional asset tracking methods is the level of detail they provide. IoT tracking technologies can provide businesses with information on the real-time location, condition, and even usage of their assets. By providing this level of insight, IoT asset tracking technologies enable companies to save time and money, while also improving overall efficiency.
The Key To Combing IoT Asset Tracking Technologies
When it comes to tracking assets, there’s no doubt that having access to the right technologies can make a world of difference. That’s why many businesses today are turning to IoT asset tracking technologies, which enable them to monitor the locations and movements of their assets in real-time using advanced sensors and network connectivity.
But did you know that with the right combination of these technologies, businesses can unlock even more value?
By leveraging complementary asset tracking technologies such as RFID, GPS, and Bluetooth Low Energy, businesses can gain even greater insights into their operations, streamline their workflows, and boost their bottom line.
The key is choosing the right combination of technologies and deploying them in a way that meets your specific business needs and goals. So, if you’re looking to elevate your asset tracking capabilities, it’s worth exploring how you can combine these cutting-edge technologies for added value.
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Use Cases For Combining IoT Asset Tracking Technologies
Here are a few key areas where businesses can benefit from a comprehensive IoT asset tracking solution that leverages multiple technologies:
- Identifying Assets Throughout the Supply Chain
As supply chains become increasingly complex, the need for efficient and effective asset tracking technologies has become more important than ever.
IoT asset tracking technologies provide an array of solutions, including BLE (Bluetooth low energy) and GPS (Global Positioning System) capabilities. By utilizing these tracking technologies in combination, businesses can easily identify and track assets at every stage of the supply chain.
From indoor positioning in warehouses to transportation hubs, IoT asset tracking technologies provide real-time information about the location, condition, and status of assets. Through seamless integration with existing systems, companies can streamline operations, reduce costs, and optimize their supply chain.
- Increasing Visibility and Control Over Assets
With the emergence of IoT, enterprises can now combine multiple asset tracking technologies to gain real-time visibility and increased control over their assets.
The integration of IoT-enabled sensors, RFID tags, GPS-enabled devices, and cloud-based platforms offers a comprehensive view of each asset’s location, status, and maintenance needs. This holistic approach not only provides real-time data but also offers predictive maintenance capabilities to prevent downtime, reduce costs, and enhance asset utilization.
By leveraging the power of IoT-based tracking technologies, organizations can streamline their operations, increase productivity, and gain a competitive advantage in the marketplace.
- Reducing Losses Associated with Unmanaged Assets
By combining different asset tracking technologies, businesses can significantly reduce losses associated with unmanaged assets.
With the advent of IoT, asset tracking technologies such as WiFi, cellular, NFC, and RFID have become more advanced, allowing for real-time tracking and monitoring of assets. WiFi and cellular technologies allow for remote tracking of assets, while NFC and RFID technologies enable tracking of assets with physical proximity.
By integrating these technologies, businesses can gain better visibility of their assets, from manufacturing plants to supply chains. This enables them to quickly locate misplaced or stolen assets, prevent loss, and optimize business processes.
With the growing importance of asset management, it’s clear that these technologies will continue to play a critical role in reducing losses and improving business performance.
- Improving Compliance with Regulations and Standards
IoT asset tracking technologies have paved the way for businesses to keep up with the latest compliance regulations and standards. With the ability to track, monitor, and analyze data in real time, businesses can now make informed decisions that align with industry best practices.
Combining these tracking technologies improves location data accuracy, increasing operational efficiency and reducing the risk of non-compliance. In addition, IoT technology provides businesses with the ability to automate manual processes, saving valuable time and resources.
In sum, by leveraging comprehensive IoT asset tracking technologies, businesses can gain even greater visibility and control over their assets while ensuring compliance and standardization across their operations.
The Overall Benefits of Combining IoT Asset Tracking Technologies
As businesses continue to seek ways to streamline operations and maximize efficiency, the benefits of combining IoT asset tracking technologies cannot be understated.
The ability to track valuable assets in real-time, monitor usage patterns, and collect data on maintenance schedules allows companies to make more informed decisions about their operations. This technology ensures that companies are not only able to track their assets with greater accuracy, but the data collected feeds into detailed reports that enable informed decision-making about inventory, maintenance, and financial planning.
By combining asset tracking technologies, companies can gain unprecedented visibility into their operations, create a more streamlined workflow, improve productivity, and ultimately save time and money.
Explore Radiant’s Tech-Agnostic IoT Asset Tracking Solutions
In conclusion, combining IoT asset tracking technologies offers superior accuracy and reliability in tracking assets. It enables organizations to leverage the full potential of their investments and optimizes asset visibility.
However, integrating multiple technologies requires an advanced IoT platform that can support a wide range of protocols. Radiant’s technology-agnostic solutions are designed for this purpose, allowing companies to use the right networks and combine them in a way that meets their unique needs.
With Radiant’s expertise and experienced innovation team, finding useful technologies has never been easier. So don’t wait any longer. Take action now and explore our IoT asset tracking solution or request your demo below.
Are you ready to learn more? Request a demo.
Last Updated on May 24, 2023 by Radiant