How Crucial Is It to Include Real-Time Asset Tracking System?

Anxious about your parcel being delivered? Waiting for your Amazon Package and Tracking its Arrival Position? Impatient for your package to arrive?

This anxiousness and impatience normally happen with everyone, when your ordered stuff is on its way of arrival. Technology has made everything easy and sorted.

However, just a few years back, we were only able to get notified through SMS and E-mails about the of our parcel i.e., after 8-10 days your package will get delivered at your provided address.

But as the technology has evolved, today we not only get notified at different platforms but can also track our package at all stages i.e.,

• Once it is dispatched from the manufacturer.
• And when it is received by the shipment company.
• Then, when it gets dispatched from the shipment company.
• Later, When it is received at your nearer delivery service.
• And finally, When it gets dispatched to head to your home.

Real-time tracking has become a choice of need.

It is not only concerned with our daily household shopping, but it also creates a huge impact on big organizations in order to run their business efficiently.

Also Read: How Can Asset Tracking Software Boost Your Business Efficiency?

What is Real-Time Asset Tracking?

Real-time asset tracking is the asset tracking system implemented to track the physical assets that an organization owns either by scanning barcode/QR code labels or using tags on the assets like BLE, NFC, RFID to broadcast their location.

Real-time asset tracking is important for organizations as it provides an overview of all the operations occurring inside the premises of any industry.

How is Real-time Asset Tracking Beneficial?

There are several benefits of real-time asset tracking for every industry, including calculation of asset ROI, improving asset management, and many more.

Let's explore them all.

1. Track Assets in Real-time

You can track your assets in real-time i.e., you will be able to identify the details and information of your asset in real-time, such as:

• Where is the asset located?
• To whom is the asset assigned?
• For how much time it is assigned?
• What is the current status of the asset?
• If the asset is placed indoor or outdoor of the premises?

2. Inventory Tracking in Real-time

Keeping track of inventory is also of the same importance as to track high-value assets. Inventory in a single quantity might not show high value but in bulk, it can cost a massive amount.

Inventory might be small or little items but if they get misplaced or not right time and place, then it can cost you a heavy amount.

Therefore, keeping a record of your inventory in real-time is much more beneficial so that, you can track them from anywhere you want at any time.

3. Search for Assets in Real-time

It is difficult to search for a specific asset in your organization premises, physically. This situation gets more critical when you want to know about the status of an asset that is somewhere outside (or at a different location).

In this, real-time asset tracking helps you a lot with its real-time updated information. Your search for assets also ends here.

If you want to search for an asset in your organization, you just have to look for it, in the software application and you will get to know all the details such as:

• Bill Details
• Warranty Period
• Manufacturer Details
• Acquired Details
• Assigned Person, Assigned Department along with Assigned Time Period (if any)
• Current Working Condition
• Maintenance Schedules (acquired & pending)
• Depreciation Value
• Shelf Life
• Expiry Date or Disposal Date (if any)

Also Read: Major Advantages & Importance of Fixed Asset Tracking Software

4. Asset Management in Real-time

Asset Management includes the monitoring and maintaining of high-value assets for an organization in a systemized manner. The monitoring and maintenance of assets entirely depend upon the updated information about them.

The accuracy of this information will depend on how frequently the data has been updated. Therefore, to avoid any confusion or dearth/lack of any information, the data nowadays is updated in real-time.

So that, real-time asset tracking shall provide you with the utmost accurate data and information.

5. Less Manual Processes & Downtime

As the whole data is updated frequently in real-time with the help of a few manual entries. Real-time tracking decreases the load of manpower in your organization. Also, each and every detail does not require manual entry.

Hence, with reduced manual processes, downtime will automatically decrease and maintain your track of assets with more ease.

6. Improved Workflow

With real-time asset tracking and reducing manpower & downtime, the workflow of the organization has improved a lot. Now, you need not to:

• Search for lost/misplaced items
• Kill excessive man-hours
• Improve asset availability
• Wait for manual updates

7. Save Time & Money

As real-time asset management software assists you in all the above workflows and operations. It saves you a lot of time and money.

The system also ensures the availability of assets regardless of where and when they are needed and in working condition.

Moreover, the asset's visibility reduces the loss of assets on a great scale.

What is a Real-time Location Tracking System (RTLS)?

An asset tracking system with real-time location proves to be an efficient method for locating assets and equipment with high value, quickly and easily.

The real-time information decreases the chances of equipment misplacement and improves its security.

Real-time location tracking system provides you with the most accurate tracking through geo-location of your assets, equipment, and inventory.

Additional Benefits of Real-Time Asset Tracking System

Supported by Web Application

The real-time asset tracking system is supported by the asset tracking software's web application. The feature of real-time tracking is accompanied along with the software application, you need not install it time and again.

Supported by Mobile Application

The asset tracking software application is supported by a mobile application of asset management software. The Mobile application gives you more exposure to operating the software with handy and easy configuration.

Meticulous Information

The real-time tracking system always provides you with accurate information. It gives you visibility towards critical assets, productivity, and efficiency.

This accurate information conveys and allows smarter decisions & faster optimization of assets.

Also Read: Powerful Asset Management Features Provided by Asset Infinity

Conclusion

Asset Infinity provides real-time asset tracking solution, which is fully customizable, for installation and maintains your list of requirements.

Asset Infinity provides asset tracking through various techniques like Barcode, QR Code, RFID, NFC & BLE.

There are more features such as asset auditing & physical verification, maintenance management, utility monitoring, and report on the equipment which you can use from anywhere, at any time. Asset Infinity offers a free 14-day trial - no credit card required!