![]() Asset tracking technology is crucial in reducing the problem of missing items as it enables fast search based on usage history, last location, and purpose. Tag filtering capability can be used to prove ownership of assets as it is easy to integrate seamlessly into a database for clear inventory control. Besides, with the asset tracking IoT platform, if any asset tracking processes go in a non-standard way, responsible employees will be immediately reported.Īpart from theft prevention, the use of asset labels can also help locate equipment on construction sites. ![]() They can also provide the owner with a record, keeping asset information, movement history, and history of tracking maintenance performed. IoT tracking applications provide real-time data, which can help owners identify theft before it happens. With such a high risk for assets to be stolen, IoT tracking devices and monitoring systems are more than necessary to mitigate the problem. Only a quarter of stolen equipment is ever noticed to be lost, making it a prime target for thieves. The theft of construction equipment can affect hundreds of millions of dollars each year and initial investments will not pay off. At Construction SitesĬonstruction companies face similar issues. Scanning technology also reduces costs by eliminating mistakes, damage, and losses. IoT tracking system can help deter theft and increase efficiency of an organization. Moreover, asset-tracking IoT devices require minimal power consumption and are easily hidden in the interior. It can alert asset managers to lost valuable assets or devices that are being used during the unauthorized time period. Businesses can utilize geofence alerts to reduce the impact of theft as they will be able to instantly locate missing tools and determine if they need replacements.Īsset management suit software can also help protect large or medium businesses from loss. IoT tracking sensors also provide valuable documentation for theft investigations. IoT-based GPS tracker, in turn, can be used to monitor the most valued assets and receive location updates at pre-determined intervals. Assets often lack adequate physical security, making thefts more likely at insecure work sites. Helps Prevent Theft At Office and Stock EnvironmentsĬomputerized asset management software is a vital tool in the fight against theft, particularly when off-site equipment is being transported. You can optimize inventory levels, order specific equipment, and even optimize orders with such an asset usage system. The information it gathers in the centralized system can be analyzed for insights that can improve business efficiency and be handy in the need for asset recovery. It can also manage assets that have been disposed of or should be replaced, sending an immediate alert to the end-user and giving the necessary insight to business assets. After that, the asset management system gathers data on portable devices and physical assets, creating a virtual perimeter, which includes asset-specific metrics and asset performance information to centralize data for future use. The software automatically processes these signals to determine where assets are, the signal strength, and time-stamping information. As a rule, it uses APIs to gather sensor data streams from different locations. The technology behind automated managing assets is simple and easy to use. These benefits are not all immediately apparent, though, and in order to understand the benefits of asset-tracking systems, you need to get to the point of how asset-tracking IoT solutions actually work and how they can affect the entire asset lifecycle. ![]() With very accurate information on existing asset management systems, enterprises can improve asset usage limited reporting capabilities, and maintenance costs. It can help prevent theft of physical and virtual assets (invgate assets, powered down assets, or simple equipment pieces), improve operational efficiency, and ensure compliance with managed assets in physical and desktop workspaces. There are many benefits asset tracking can bring to different areas of inventory processes and they vary widely depending on the field.
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