Things to Know About Asset Tracking

Asset tracking is more than just inventory control. The system typically combines hardware and software to provide data about physical objects and monitor their location.

Older asset tracking systems often use hand-held scanners or wearable technology to locate items in a facility. Some could provide data such as when the item arrived at the location and when it was last touched. Emerging technology like real-time location systems (RTLS) can autonomously collect and distribute information about an item’s movements.

For more information on how a 3PL provider could help you set yourself apart from the competition by staying up to date with advancements in warehouse technology, contact Brown West Logistics today.

Tracking System Technology

The technology that allows facilities and individuals to monitor location is developing rapidly. Early forms often used global positioning systems (GPS) to track items, but GPS could have been more reliable indoors. Bluetooth tags and beacons offer accuracy but at a high cost for buying and installation.

Passive radio-frequency identification (RFID) is a popular choice in many warehouses, especially facilities that engage in direct-to-consumer sales and e-commerce. Other systems use Augmented Reality technology to allow workers to locate an item within a facility.

Benefits of Modern Asset Tracking Systems

Although inventory control is a primary function of asset tracking systems, today’s technology offers other significant benefits.

Track Non-Inventory Assets

Modern warehouse operations include expensive equipment like robots, forklifts, drones, tablets, and wearable tech. Keeping track of these costly resources is essential.

An asset tracking system could monitor employee use of valuable tools. Systems can also be programmed to track an item’s performance and usage history, which could help ensure adherence to maintenance schedules.

Identify Areas of Low Efficiency

Asset tracking with an RTLS system provides motion history, allowing users to evaluate how long workers take to complete tasks. The data can identify chokepoints in your operations and provide helpful information to help you eliminate bottlenecks.

These systems also help evaluate the performance of individual employees by comparing the time a particular worker requires to complete a task to completion timelines amongst the workforce as a whole. The systems allow for customizable metrics to suit the user’s needs.

Makes Errors Visible Immediately

Errors will occur anywhere humans work, and asset-tracking systems will not eliminate them. However, an asset tracking system, especially with RTLA capability, could allow users to identify misplaced items immediately instead of after the error causes inconvenience or expense.

Improve Customer Satisfaction

Asset tracking reduces the likelihood of running out of stock, losing sales opportunities, and paying for express shipping to fulfill orders. Delivering customer orders promptly and reliably enhances the business’s reputation and engenders customer loyalty.

Reduce Expired Stock

Asset tracking systems know when a product arrives at the warehouse and when it needs to leave to be saleable. An asset tracking system can ensure that perishable items move out of the warehouse before expiration.

Identify Safety Hazards

Some items pose safety concerns when stored near each other. Asset tracking allows users to identify and rectify safety hazards before a problem develops quickly.

Consider Using a 3PL Provider to Enhance Your Asset Tracking Capabilities.

Identifying the right asset tracking system for your operation could require a significant investment in time. Teaming up with a 3PL provider ensures access to technology and expertise to strengthen your operation while allowing you to focus on your customer relationships.

Contact Brown West Logistics today to learn more about a personalized supply chain solution for your facility.

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