Next-Level Asset Tracking Intelligence: Revolutionising Tracking Systems
Asset tracking is the systematic process of monitoring and managing valuable physical assets throughout their lifecycle. From inventory items to equipment, vehicles, and even high-value goods, asset tracking enables organisations to maintain a comprehensive record of their assets, ensuring their visibility, security, and optimal utilization. Leveraging advanced technologies such as barcode scanning, radio frequency identification (RFID), and global positioning system (GPS) tracking, asset tracking solutions provide real-time insights into the location, condition, and movement of assets. This information empowers businesses to streamline operations, prevent loss or theft, minimize downtime, and make informed decisions based on accurate data. By implementing effective asset-tracking systems, organisations can maximize their efficiency, reduce costs, and gain a competitive edge in today's dynamic business landscape.
Avnet Silica and its leading suppliers are supporting a number of businesses across EMEA to revolutionise their asset tracking systems and procedures, making their business smarter, more profitable and giving them an advantage over their competition.
Speak to our Asset Tracking experts today to learn more.
The Technologies Revolutionising Asset-Tracking
Miniaturisation of electronic devices, such as embedded processors and transceivers, and advanced power-management techniques are enabling the creation of low-cost, battery-operated asset-tracking devices. Using these devices, asset-tracking applications are delivering real business benefits across a wide spectrum of applications in multiple sectors, including transportation and logistics, manufacturing, healthcare, and retail.
This article takes a closer look at asset tracking, describing ongoing and future market trends, and highlighting the technologies enabling this market growth. It concludes by discussing how asset-tracking technologies are also contributing to other emerging technological trends, including smart cities and the Industry 4.0 factory.
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Optimising Asset-Tracking Solution Designs
The rapid growth of the IoT has driven the emergence of a range of innovative technologies which are increasingly being adopted in asset-tracking systems. With such a wide spectrum of options, it can sometimes be difficult to choose the optimum combination for a given application. This article describes the main technologies currently available to support asset-tracking solutions and discusses how to choose the optimal technology for a specific application.
As a leading global technology distributor and solutions provider, Avnet Silica has the product portfolio and solutions expertise to ensure that their customers optimise the design of their asset-tracking solutions. This article concludes with an examination of selected technologies within the extensive Avnet Silica portfolio.
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Asset Tracking Technologies
There are many factors to consider when choosing an asset-tracking technology. Just some of these include:
- Level of accuracy needed for location data
- Location update rates
- Dimensions that need to be tracked
- The number of assets you'll be tracking
- Value of the assets
- The physical environments the assets will be in
- Ease of deployment
- Budgets
| Technology | Advantages | Disadvantages |
|---|---|---|
| Bluetooth Low Energy (BLE) |
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Wi-Fi |
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Cellular Positioning |
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GPS |
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RFID |
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NFC |
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LPWAN |
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| Ultra-Wideband (UWB) |
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Common Asset Tracking Applications
Asset Tracking has been widely adopted in a number of different industries and sectors. If a business has valuable assets that are moving around or need to be delivered to an end user then said business can adopt asset tracking to minimise asset loss, provide more regular updates, spot potential issues, and gather data.
Recent developments in technology within Asset Tracking even allow businesses to monitor the health of a particular asset and be notified if assets become damaged or exposed to external threats.
Application
High-Value Items / Security
Asset tracking for high-value items involves using GPS, RFID, or other tracking technologies to monitor their location, status, and movement. It deters theft, enables real-time tracking, enhances security measures and better ensures accountability.
Application
Warehouse and Inventory Management
Asset tracking in warehouse and inventory management involves using barcode or RFID technology to track the location and movement of items. It improves inventory accuracy, reduces manual errors, streamlines operations & enables efficient restocking.
How IoT and AI are revolutionising Asset Tracking
The combination of the Internet of Things (IoT) and Artificial Intelligence (AI) is revolutionizing asset tracking by introducing advanced capabilities and transforming traditional asset management practices. Here are just a few examples:
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Real-Time Tracking: IoT-enabled sensors and devices can be attached to assets, providing real-time location updates. This allows businesses to track assets continuously, improving visibility and enabling quick response to changes or incidents.
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Predictive Maintenance: IoT sensors embedded in assets collect data on parameters like temperature, vibration, or usage patterns. AI algorithms analyze this data to identify patterns and anomalies, enabling predictive maintenance. By proactively addressing maintenance needs, organizations can minimize downtime, optimize asset lifespan, and reduce maintenance costs.
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Enhanced Security: IoT-based asset tracking systems provide enhanced security features. Real-time monitoring and geofencing capabilities can trigger alerts if assets deviate from predetermined routes or locations, helping prevent theft or unauthorized use.
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Optimal Utilization: IoT and AI-powered analytics enable organizations to gain insights into asset utilization patterns. By analyzing usage data, businesses can identify underutilized or overutilized assets, make informed decisions about deployment and allocation, and optimize asset usage across their operations.
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Data-Driven Decision Making: The vast amount of data collected from IoT devices and sensors can be processed and analyzed using AI algorithms. This enables organizations to derive actionable insights, make data-driven decisions, and optimize asset management strategies.
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Intelligent Asset Allocation: AI algorithms can optimize asset allocation based on historical data, demand patterns, and other relevant factors. This helps organizations determine the most efficient distribution of assets, reducing costs and improving operational efficiency.
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Streamlined Inventory Management: IoT-enabled asset tracking systems automate inventory management processes by providing real-time visibility into stock levels, locations, and movement. This improves accuracy, reduces manual effort, and streamlines inventory replenishment workflows.
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Integration with Enterprise Systems: IoT and AI technologies can be integrated with existing enterprise systems such as Enterprise Resource Planning (ERP) or Customer Relationship Management (CRM) software. This allows for seamless data exchange, automated workflows, and improved overall asset management efficiency.
The combination of IoT and AI in asset tracking offers unprecedented levels of automation, accuracy, and intelligence. It empowers organizations to optimize asset utilization, enhance security, reduce costs, and make data-driven decisions that drive operational excellence.
Our market-leading Asset Tracking Suppliers
Asset Tracking content and resources
Asset Tracking Experts
Better connected through LinkedIn
Connect with Harvey Wilson, Systems Engineer Professional and Asset Tracking expert at Avnet Silica, on LinkedIn.
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IoT Solutions
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Solution
Smart Tracking Labels from Renesas
Renesas' Smart Tracking Label design is optimized with ultra-low power devices and several standby options for minimal current draw.
Markets
AI/ML Solutions
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On-demand webinar
Asset Tracking Discovery Days
Join Avnet Silica’s Asset Tracking webinar to learn more about the latest solutions on the market from our leading manufacturers and find out how asset tracking can help you optimise your business.
Technologies
Wireless & Connectivity
See all of Avnet Silica's Wireless and Connectivity solutions, including Cellular Connectivity, LoRa Gateways and much more
Solution
MYSUPPLY - Supply Chain Management
Learn more about building a more resilient and fluid supply chain with Avnet Silica's supply chain management solution, MYSUPPLY.
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