Imagine a future where you never have to worry about losing an important asset again. A future where you can track your assets in real-time, from anywhere in the world. Thanks to the latest advancements in Internet of Things (IoT) technology, this future is closer than you think.
With traditional infrastructure-based asset tracking solutions no longer feasible for many operating in today’s modern, mobile world, more businesses are turning to IoT-based solutions that don’t require any additional infrastructure investment. So what are the benefits of going infrastructure-free? Keep reading to find out!
The Rise of Infrastructure-Free IoT Asset Tracking Solutions
In recent years, asset tracking solutions have undergone a seismic shift. Where once these solutions were reliant on costly and complex infrastructure, they are now moving towards a more cutting-edge, IoT-based approach. This shift is being driven by the need for more supply chain visibility and the advantages that an infrastructure-free asset tracking solution can offer.
By leveraging the power of the IoT, these asset tracking solutions can provide real-time data on the location and condition of assets, without the need for expensive hardware or ongoing maintenance costs. As the demand for asset tracking solutions grows, so too does the number of IoT platforms that are emerging to meet this need. These platforms are helping to drive down costs and make asset tracking more accessible than ever before.
How Infrastructure-Free IoT Asset Tracking Solutions Work
By definition, infrastructure-free IoT asset tracking solutions do not require any pre-existing infrastructure in order to function. This is opposed to traditional tracking methods that rely on technologies like GPS, barcodes, and RFID, which all require at least some additional infrastructure in order to work. Instead, infrastructure-free solutions harness the power of IoT based technologies which can be easily implemented into existing devices with internet connectivity at no extra cost.
These asset tracking solutions typically make use of asset tags enabled with Bluetooth Low Energy (BLE) technology, allowing them to communicate with nearby IoT devices, such as smartphones and tablets, that have been equipped with a mobile application. When an asset moves out of range of one IoT device, it connects with the next closest device and reports its new location. This information is sent to a cloud-based IoT platform, which then updates the asset’s location in the mobile and web applications. As a result, users can always see where their assets are, without needing to install any expensive tracking infrastructure.
The asset tags used are low-cost, battery-powered devices that can be easily attached to or embedded in the asset. They typically have a long battery life of up to several years, meaning they can be deployed without the need for ongoing maintenance costs. They also often come equipped with sensors that can collect data on the asset’s condition, such as temperature, humidity, and vibration. This data can be used to trigger alerts if an asset is being moved outside of its ideal conditions or is at risk of damage.
The asset tracking software used in this approach is designed to collect data from asset tags and other IoT devices in order to provide real-time visibility into the location and condition of assets. This data can be used to improve asset utilization, optimize maintenance schedules, and prevent loss or theft. In addition, asset tracking software can also be used for device management, providing a central platform for managing all of your organization’s IoT devices.
Benefits of Infrastructure-Free IoT Asset Tracking Solutions
The benefits of infrastructure-free IoT asset tracking systems are many and varied. Here are just a few of the advantages that these solutions can offer:
- Improved Visibility and Control: One of the biggest benefits of using an infrastructure-free IoT based asset tracking solution is the improved visibility and control that it can offer. By being able to see the location and condition of assets in real-time, businesses can gain greater control over their inventory and operations. This can help to improve efficiencies and reduce the risk of costly mistakes.
- Increased Flexibility and Scalability with IoT Asset Tracking Solutions: Another key benefit of infrastructure-free asset tracking solutions is their increased flexibility and scalability. With no need for costly hardware or ongoing maintenance, these solutions can be easily scaled up or down to meet the changing needs of your business. This makes them ideal for businesses that are growing or have seasonal fluctuations in demand.
- Reduced Costs: As infrastructure-free asset tracking solutions do not require any upfront investment in hardware or ongoing maintenance costs, they can offer a more cost-effective solution than traditional asset tracking methods. This makes them an attractive option for businesses of all sizes.
- Simplified Implementation: Another advantage of infrastructure-free IoT based asset tracking solutions is that they are typically much easier to implement than traditional tracking methods. This is because there is no need to install any additional infrastructure, which can often be complex and time-consuming. As a result, you can get up and running with an asset tracking solution more quickly and easily.
- User Experience: The asset tracking software used in infrastructure-free IoT based solutions is often designed to be user-friendly and easy to use. This can help to reduce training costs and ensure that your team is able to get the most out of the asset tracking solution.
- Enhanced Accuracy with IoT Asset Tracking Systems: Infrastructure-free asset tracking solutions can also offer improved accuracy over traditional tracking methods. This is because they use IoT based devices that are equipped with sensors that can provide real-time data on the location and condition of assets. This information is then sent to a cloud-based platform, which can provide up-to-the-minute updates on the whereabouts of your assets.
- Improved Security: Infrastructure-free IoT based asset tracking solutions can also offer improved security for your assets. This is because the data collected by the IoT devices is stored in a secure cloud-based platform, which can only be accessed by authorized users. This helps to protect your data from being hacked or stolen.
There are many other benefits that infrastructure-free IoT based asset tracking solutions can offer businesses. However, these are some of the most significant advantages that these solutions can provide. If you are looking for a more efficient and effective way to track your assets, then an infrastructure-free asset tracking solution may be the right choice for you.
Real-World Applications of Infrastructure-Free IoT Asset Tracking Solution
Despite being a relatively new approach to asset management, infrastructure-free IoT asset tracking solutions are already proving their worth in optimizing visibility into the supply chain and business operations.
For example, leaders in the automotive industry have found success in implementing Radiant’s solution in order to ensure shipping containers that carry car parts from suppliers to the assembly plant are not delayed or lost en route. With the ability to monitor the location of these containers in real-time, they expect to save $15 million annually in reduced container loss and diminished expedites. Additionally, the solution is empowering automotive manufacturers to address accountability challenges by providing visibility into work-in-progress as production parts move through the manufacturing process. This helps to ensure that the right parts are being used in the right order and that there are no delays in the production line.
Results such as these aren’t limited to the automotive industry either. Manufacturers of consumer goods have also been able to reduce delays and improve inventory management by implementing infrastructure-free IoT asset tracking solutions to monitor the location of product containers and pallets as they move through the supply chain.
As these examples illustrate, infrastructure-free IoT asset tracking solutions are already making an impact in the real world. And as the technology continues to evolve, we can expect to see even more businesses benefiting from the improved visibility and control that these solutions provide.
Determining the Right Asset Management Approach for your Business
The benefits of infrastructure-free IoT asset tracking solutions are clear. By providing businesses with improved visibility into their assets, they can save money, improve efficiencies, and address accountability challenges.
However, there remain certain instances where more traditional approaches to asset management make sense. In these cases, it’s important to weigh the pros and cons of each approach to make sure you’re making the best decision for your business.
If you need help in doing so, feel free to reach out to us. Our team of experts is available and happy to discuss your specific business needs so that you may determine the best approach to asset management for your company.
Last Updated on January 26, 2023 by Radiant