Asset tracking: the benefits

Asset tracking is the method by which a company tracks their physical assets.  It is a broad term covering everything from the scanning of barcode labels on arrival and departure of goods, to the use of technology to track an item’s entire journey across the supply chain. An asset is usually considered to be of profitable value or importance, and therefore keeping track of such items can increase efficiency and reduce consumption, lower costs and reduce waste. 

On an average day, a company’s asset may pass through multiple sets of hands and conveyor belts, and travel across several locations, so the risk of loss and damage is high. Tracking assets is not new; inventory management and stock level monitoring have long been part of business.  However, utilising modern technology far exceeds what manual tracking can offer, and in this blog post we’ll take a closer look at some of the benefits smart asset tracking brings using connected devices can bring.

Asset tracking benefits  

Lower costs – The larger the organisation, the more complex asset tracking can become, and manual methods like spreadsheets are more prone to causing error. A robust tracking software solution minimises the need for manual record keeping, and in turn reduces human error, lowering the risk of loss and wastage.   

Fewer losses – A reliable tracking solution  greatly reduces the chance of loss, whether from human error or theft. It also improves storage and movement of perishable goods or items with expiry dates.  

Improved customer service – Asset tracking systems provide up-to-date information on the whereabouts and stock levels of goods.  Reliable data helps inform employees who in turn can be more efficient.  This lowers the risk of customer complaints and improves the chances of return business. 

Temperature controlled – Monitoring the temperature of stock whilst in transit ensures food and beverages stay fresh all the way from the supplier to the restaurant and ultimately to the consumer. Temperature monitoring sensors can send alerts to the driver if the temperature of the refrigerated trailer goes below a set threshold, ensuring proper food safety procedures are being met. 

Efficiency – Tracking assets helps businesses anticipate their needs and requirements. Facilities Managers can gain a better understanding of how spaces are used, whether that is office space or warehouse storage. Trackers are also able to assist with predictive maintenance, so the chances of equipment being out of use are reduced.  

Accuracy – The better your data, the better your business decisions.  It is far easier to plan and make choices when you have detailed information to hand. The software accompanying asset tracking hardware allows easy access to information, wherever the asset is located. 

Global Connectivity Solutions 

Reliable connectivity is an essential part of asset tracking management. Accessing a global connectivity solution is a key component of ensuring that fleet management, product tracking, and data analysis continue to be successful anywhere in the world. Stay tuned to learn more about how Arkessa’s global connectivity can make asset tracking simple, efficient, and scalable.  

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