Asset Tracking: What It Is And How It Works?

This article was published on: 05/29/24 by the Robert Hall

The need for efficient management of assets has become critically important, especially in the ever-evolving area of business and technology. Asset tracking has emerged as a major tool for organizations across any number of industries to simplify operations, increase security, and make the most of resources. 

Together, let’s look into the use of asset tracking, exploring its importance, and shedding light on the workings of GPS asset tracking systems and devices.

Understanding Asset Tracking

Asset tracking is a process that involves monitoring and managing physical assets within an organization. These assets can range from vehicles, equipment, and tools to inventory and even personnel. The primary goal is to gain real-time visibility into the location, condition, and use of assets, allowing organizations to make good decisions, prevent losses, and improve overall operational efficiency.

The Role of GPS Asset Tracking Systems

One of the biggest advancements in asset tracking technology is the use of Global Positioning System (GPS) technology. GPS asset tracking systems use satellite signals to determine the precise location of assets in real time. This innovation has revolutionized asset management by providing accurate and up-to-date information about the whereabouts of their valuable resources.

How do GPS Asset Tracking Systems Work?

GPS Technology Basics

The fundamental principle behind GPS asset tracking is the use of a network of satellites orbiting the Earth. GPS tracking devices installed on assets communicate with these satellites to determine their exact location. The devices receive signals from satellites, allowing them to triangulate their position with remarkable accuracy.

Data Transmission

GPS tracking devices not only receive signals but also transmit data such as: location coordinates, speed, and direction to a central database or server. This information is then accessible to authorized personnel through a user-friendly interface, usually in the form of a web-based application or software.

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Real-Time Monitoring

The real power of GPS asset tracking is in its ability to provide real-time monitoring. Users can track the movement of assets as it happens, allowing them to respond promptly to any deviations from planned routes or unexpected incidents. This real-time visibility improves decision-making and assists with a proactive approach to asset management.

Geofencing and Alerts

GPS asset tracking systems can incorporate geofencing capabilities. Geofencing allows organizations to define virtual boundaries on a map. When an asset enters or exits these predefined areas, alerts are triggered. This feature is invaluable for increasing security, preventing unauthorized use, and assisting route planning.

Historical Data Analysis

Beyond real-time tracking, GPS asset tracking systems store historical data. This historical information can be analyzed to identify usage patterns, assess asset performance, and make data-driven decisions for future planning and resource allocation.

Benefits of GPS Asset Tracking

Increased Security

GPS asset tracking increases security by providing real-time alerts for unauthorized access or movement of assets. In case of theft, the precise location of the asset can be quickly determined, helping with its recovery.

Operational Efficiency

Organizations can optimize their operations by tracking asset use, identifying inefficiencies, and simplifying workflows. This leads to better resource use, less downtime, and better overall efficiency.

Cost Savings

GPS asset tracking helps users reduce operational costs by minimizing fuel consumption, maximizing route planning, and preventing losses due to theft or misplacement.

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