{"id":13218,"date":"2022-02-09T16:00:17","date_gmt":"2022-02-09T14:00:17","guid":{"rendered":"https:\/\/elainnovation.com\/asset-tracking-a-step-by-step-guide\/"},"modified":"2023-03-03T13:10:29","modified_gmt":"2023-03-03T11:10:29","slug":"asset-tracking-a-step-by-step-guide","status":"publish","type":"post","link":"https:\/\/elainnovation.com\/en\/asset-tracking-a-step-by-step-guide\/","title":{"rendered":"Asset tracking : a step-by-step guide"},"content":{"rendered":"\n

Asset tracking<\/strong> holds the promise of significant economic opportunities for various fields such as health, security, industry and transportation. What is asset tracking?<\/strong> Asset tracking is a technology that allows precise tracking and geolocation<\/strong> of an object. Are you wondering what this technology<\/strong> is all about? Or what it could bring to your company?<\/p>\n\n\n\n

In this article, we explain everything there is to know about asset tracking.<\/strong><\/p>\n\n\n\n

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Asset tracking: what is it?<\/strong><\/h2>\n\n\n\n

Asset tracking<\/strong> can be described as a method of tracking physical asset<\/strong>. An asset can be a moving vehicle, a part on an assembly line or a logistic machine. To understand what asset tracking is, let’s start with its definition.<\/p>\n\n\n\n

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What is the definition of asset tracking?<\/strong><\/h3>\n\n\n\n

Asset tracking can be defined as a process for tracking the movement of one or more assets<\/strong> in an environment or within an organization, in the context of information technology. It is also called positioning or geolocalization.<\/p>\n\n\n\n

Indeed, the objective is to allow us to track digital data<\/strong> produced or linked to an object. Asset tracking technology is therefore based on the use of tools or IT solutions.<\/strong><\/p>\n\n\n\n

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Asset tracking and the Internet of Things: the combination of all possibilities<\/strong><\/h3>\n\n\n\n

When combined with what is known as the Internet of Things<\/strong>, or IoT for short, asset tracking now offers possibilities that were not possible with satellite or GPS tracking.<\/p>\n\n\n\n

Indeed, a connected object collects local data<\/strong>. This data can be outside (outdoor tracking) or inside a building (indoor tracking). In this case, we also talk about indoor localization.<\/strong><\/p>\n\n\n\n

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An indoor or outdoor tracking system<\/strong><\/h3>\n\n\n\n

A tracking system<\/strong> will therefore rely on one or more connected objects. First, the object will collect data. Then, it will transmit these collected data to the company’s computer server.<\/p>\n\n\n\n

An exchange of information will then take place between the server and the connected object. It will thus be possible to track an object indoors.<\/strong> This is the principle of an indoor positioning system<\/strong> or IPS.<\/p>\n\n\n\n

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What are the advantages of asset tracking?<\/strong><\/h2>\n\n\n\n

Because it is possible to connect any object to a computerized management network, there is a lot of interest for companies that are taking the digitalization turn.<\/p>\n\n\n\n

The first advantage of asset tracking is undoubtedly that it can be adapted to the company’s objectives and operations.<\/strong> But that’s not the only advantage.<\/p>\n\n\n\n

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Better security against loss or theft<\/strong><\/h3>\n\n\n\n

On construction sites or even within the company’s premises, the loss or theft of equipment or tools is unfortunately a risk. Thus, the replacement of one or several equipments can quickly represent a significant cost and unbalance the company’s finances.<\/p>\n\n\n\n

This is why an asset tracking solution is an investment that can quickly pay for itself: geolocation allows you to know in real time where your equipment is located.<\/strong><\/p>\n\n\n\n

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Optimization of the equipment fleet and traffic flows<\/strong><\/h3>\n\n\n\n

To optimize your movement<\/strong> flows<\/strong>, for example if you want to improve the management of your equipment fleet, requires having precise factual elements to identify the movements of its equipment. This way, anomalies can be identified and areas for improvement can be found.<\/p>\n\n\n\n

Indeed, to gain in efficiency, the control of flows is essential. And this can also apply to internal<\/strong> logistics flows,<\/strong> i.e. production flows, and to external<\/strong> logistics flows<\/strong> linked to supply or distribution.<\/p>\n\n\n\n

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Finer predictive maintenance<\/h3>\n\n\n\n

Predictive maintenance<\/strong> consists in anticipating as accurately as possible the next maintenance operations to be performed. The goal is to prevent technical failures, to limit the risks of breakdown and also to foresee future replacement needs.<\/p>\n\n\n\n

How does asset tracking make predictive maintenance easier?<\/strong> Once again, thanks to the travel history, you can identify the causes of deterioration more efficiently. This works for your equipment, but also for your goods.<\/p>\n\n\n\n

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Improved processes and employee confidence in a safer work environment<\/h3>\n\n\n\n

Good management of your equipment fleet naturally contributes to better working conditions.<\/strong> Because predictive maintenance increases safety and reduces the risk of accidents. Employees can have confidence in their work tools and no longer waste time looking for them. You know where they are.<\/p>\n\n\n\n

Inventory work is also made easier.<\/strong> Indeed, taking an inventory requires a lot of time and resources. It is therefore time that is not devoted to production, but which costs the company. And like all physical manipulations, the risk of error is unfortunately high. An asset tracking solution can easily compensate for this.<\/p>\n\n\n\n

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An easier accounting follow-up and a faithful image of the economic reality of the company<\/strong><\/h3>\n\n\n\n

In France for example, accounting rules require annual tracking of inventories, tracking of fixed assets and calculation of their depreciation. As we have seen, thanks to asset tracking you have precise knowledge of your inventory<\/strong> and the value of your assets.<\/strong> Your accounting is therefore simplified and more accurate in terms of the economic and financial reality of your company.<\/p>\n\n\n\n

Let’s go further and see how asset tracking works.<\/p>\n\n\n\n

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How does asset tracking work?<\/strong><\/h2>\n\n\n\n
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Typical architecture of an asset tracking solution<\/h3>\n\n\n\n

There are many asset tracking solutions on the market and they are often sold as “turnkey<\/strong>” solutions to facilitate their implementation and daily use. However, it is important to take a look at the architecture behind these solutions to understand how they work.<\/p>\n\n\n\n

A tracking solution is composed of a set of geolocation beacons,<\/strong> also called “tags” embedding a chip<\/strong> and a battery<\/strong> to be completely autonomous. These connected objects are attached to the equipment to be tracked.<\/p>\n\n\n\n

Then, there is the network or wireless communication protocol,<\/strong> which will allow to collect the beacons data. The choice of the technology used will depend on different criteria that we will explore later.<\/p>\n\n\n\n

The raw data is centralized by a gateway<\/strong> that will send the information to an indoor positioning tool<\/strong> to process the data. Usually the data is stored on the cloud or on the client’s server.<\/p>\n\n\n\n

The last component of asset tracking solutions is the business application<\/strong>. This application, generally available on PC and mobile, will allow end users to visualize data<\/strong> in the form of charts, plans, dashboards, etc.<\/p>\n\n\n\n

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Asset tracking: which technology to choose?<\/strong><\/h3>\n\n\n\n

Until recently, geolocation relied solely on satellite technologies and was limited to outdoor use. The IoT has revolutionized geolocation by making indoor positioning<\/strong> possible without a satellite network<\/strong>. That’s why other wireless communication technologies have emerged. The choice of one or the other of these technologies must be made according to different criteria such as: the type of environment (factories, offices, etc.), the number of objects to be located, the expected level of accuracy or the acquisition cost.<\/p>\n\n\n\n

To help you see things a little more clearly, here are some key characteristics of 3 wireless communication technologies used by ELA Innovation:<\/p>\n\n\n\n

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Wirepas Mesh geolocation technology<\/h4>\n\n\n\n

Perfect for locating and inventorying medium-sized equipment such as pallet trucks and other logistics equipment.<\/p>\n\n\n\n