What is asset tracking? How?

What is asset tracking?
Asset tracking is the process of tracking a company's physical assets and their information (location, status, deadlines, and so on) through Internet of things technology.Depending on your business, physical assets may refer to different types of equipment, such as IT equipment, tools, or vehicles.Asset tracking is often compared to asset management.
Why asset tracking?
The ultimate goal of asset tracking is simple: to save time and money.Tracking company assets provides valuable information on asset usage (who is using what equipment, when and where), maintenance and calibration schedules, and new equipment requirements.Data collected through asset tracking can be used to guide decisions, prevent losses, and maximize asset utilization.
In what industries is asset tracking available?
All industries can benefit from asset tracking.However, specific use cases may vary from business domain to business domain.Such as:
Construction: a common tool for tracking multiple sites and warehouses.
Healthcare: indoor tracking of medical equipment.
Education: ensure that expensive laboratory equipment is located within university campus areas (electronic geo-fencing).
Lease: keep the record of the leased equipment and generate the customer fee information according to the actual usage.
How to asset tracking
There are many ways to do asset tracking.Some companies use pen and paper or Excel worksheets for manual registration.However, the most effective way to track corporate assets is to use Internet of things technology and asset tracking software.
There are better ways to manage assets, such as using mobile apps and scannable asset labels, which allow you to easily check and update asset information while on the go.Tags are links between entity assets and their information in the database that can be used to identify assets.There are many options for asset tagging: bar codes, QR codes, NFC, GPS, beacons, etc.