In today’s business environment, organizations are continuously seeking ways to optimize their operations and improve overall efficiency and productivity. One area that often poses challenges is tracking and managing assets within indoor spaces.
From warehouses and manufacturing facilities to hospitals and office buildings, the ability to locate and monitor valuable assets is crucial for streamlined operations. This is where indoor asset tracking comes into play to better understand your assets.
In this blog, we will explore the various IoT asset tracking technologies, and the advantages of combining them, and provide advice on how to use them effectively.
Table of Contents
What Is IoT Asset Tracking?
Indoor asset tracking involves the use of technology to monitor and locate assets within indoor spaces.
Organizations can track assets in real-time with this technology, allowing them to make informed decisions about inventory management and asset utilization.
With the advent of IoT asset tracking technologies, companies can gain valuable insights into their supply chain management by gaining a birds-eye view. It typically utilizes a combination of hardware and software components, such as RFID (Radio Frequency Identification), BLE (Bluetooth Low Energy), or RTLS (Real-Time Location Systems).
Smart asset-tracking technologies are a must-have for forward-looking organizations in today’s business world.
IoT Asset Tracking Technologies that Revolutionizing Asset Management
Bluetooth-Low Energy — BLE
With Bluetooth’s improved range, power efficiency, and data throughput, it is increasingly suitable for the IoT. Due to their coin cell batteries, BLE tracker tags can serve as location beacons for several years.
It is possible to triangulate a location by using a Bluetooth gateway to locate those beacons. A gateway can relay data to a cloud-based solution, or it can reside on the device running the app.
Retailers can, for instance, place BLE beacons throughout a store to make it easier for customers to find items. After that, shoppers can use their phone’s BLE gateway to detect the beacons and display the location of the item on a map.
Similarly, warehouses can use BLE beacons to track assets indoors. This solution requires gateways throughout the warehouse since there are no shoppers with smartphones.
A centralized platform then communicates with these gateways. A beacon’s relative strength is triangulated by at least three nearby gateways. BLE has a short range, so the location is fairly accurate.
A BLE tag is low power and broadcasts a beacon continuously, but gateways are usually not. It still only reaches about 40 meters indoors even though BLE 5.0 quadruples the distance over BLE 4.0. Bluetooth technology is also susceptible to interference.
Radio Frequency Identification — RFID
RFID is one of the most commonly used technologies for indoor asset tracking today. RFID tags are very low-cost and don’t require batteries, and a powerful receiver acts as a checkpoint. The anti-theft tags used at retail stores’ entrances that beep if a tag is not properly deactivated are a familiar example of RFID.
At the start of a manufacturing process, RFID tags can be attached to products. There are a number of quality control checkpoints where the receiver can be placed.
At milestone locations, some logistics providers even scan RFID tags. Even if not, these low-cost tags are disposable once they have completed their journey through the warehouse.
The main application of RFID is to determine whether an asset is in a room or a closed location. Asset tracking can be done using this technology, but it may not be the most cost-effective or accurate solution.
Near Field Communication (NFC)
NFC (Near Field Communication) enables two devices in close proximity to communicate over a short distance.
Smartphones and smart cards typically feature NFC tags, which can be used to make payments and transfer data, among other actions.
An NFC tag can also be used to track assets since it can store information such as the location of an asset or its owner. The process is simple: an NFC-enabled device, such as a smartphone or a dedicated NFC reader, is used to scan the NFC tags attached to the assets. This enables real-time visibility into the asset’s whereabouts and provides valuable data for asset management purposes.
Global Positioning System (GPS)
Satellite signals are used to determine the location of devices using GPS, or Global Positioning System. It consists of a network of satellites in space, ground control stations, and GPS receivers that are commonly found in devices such as smartphones, cars, and handheld GPS units.
Tracking devices use GPS to locate long-range assets like vehicles, as well as containers and trailers. The majority of GPS tracking systems rely on a combination of hardware and software to provide real-time asset tracking.
Ultra-Wide Band (UWB)
UWB is one of the newest technologies on the market. It is unmatched in terms of precision indoors. We can see all kinds of smartphone-based indoor asset tracking if it becomes a next-generation standard. Turn-by-turn navigation indoors to extremely precise keychain tags.
Apple’s introduction of UWB into the mainstream will undoubtedly lead to a reduction in the cost of the technology. For now, this is still a niche solution for early adopters who require a very precise location for their solution. As an early option, the hardware may change, allowing for earlier upgrades than more established alternatives.
How IoT Asset Tracking Technologies Can Benefit You?
Implementing an indoor asset tracking system can bring numerous benefits to businesses across various industries. Let’s explore some of the key advantages:
Real-Time Asset Visibility
IoT-based asset tracking provides real-time visibility into asset location and status. With real-time asset information, businesses can make informed decisions, optimize workflows, and respond to issues and delays quickly.
Enhanced Operational Efficiency
Automating asset-tracking processes with IoT technologies reduces manual effort and improves operational efficiency. When assets can be located and tracked with minimal human intervention, employees can focus on more value-added tasks. It improves productivity, streamlines workflows, and reduces errors.
Improved Asset Utilization and Cost Savings
Businesses can optimize asset utilization with IoT asset tracking. Data on asset availability and usage patterns can help organizations identify underutilized assets, eliminate redundancies, and allocate assets appropriately. It leads to cost savings and maximizes asset return on investment (ROI).
Streamlined Maintenance and Compliance
Tracking IoT assets facilitates proactive maintenance and compliance management. Businesses can schedule preventive maintenance, detect anomalies, and ensure compliance with regulatory standards by monitoring asset conditions, such as temperature, humidity, or performance metrics. The result is a reduction in downtime, a reduction in asset failures, and an increase in operational reliability.
Discover HashStudioz’s IoT Asset Tracking Solutions
Combining IoT asset-tracking technologies offers superior accuracy and reliability when tracking assets. As a result, organizations can maximize the value of their investments and improve productivity.
However, integrating multiple technologies requires an IoT platform that supports a wide range of protocols. HashStudioz offers technology-agnostic solutions to meet this need, allowing companies to select the right networks for their unique requirements and combine them in a way that meets those needs.
It’s easier than ever to find useful technologies with HashStudioz’s expertise and experienced innovation team. So don’t wait anymore. Explore our IoT asset tracking solution or give us a call.
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Manvendra Kunwar