Asset tracking is a crucial but sometimes overlooked part of business operations that can provide many benefits for a company. Theft alone costs companies a staggering $50 billion each year in the United States. That number does not even calculate the money lost in searching for equipment or equipment that is permanently lost. Asset trackers have proven to help companies operate more efficiently, optimize the usage of assets, and save companies money.
Questions to Consider When Selecting a RTLS
Now that you understand why asset tracking is necessary, you are probably asking yourself, “What location system will best satisfy my needs?” Below we have outlined vital questions that you should be able to answer before choosing which real-time location system to use.
1. Will I Be Tracking Indoors or Outdoors?
Depending on the use case, your company will need to decide whether they need indoor tracking, outdoor tracking, or both. Some location systems do not have the ability to track from indoors to outdoors, and vice versa. Understanding your location tracking needs will be an essential part of your decision-making process.
2. How Often Will I Need Location Updates?
The next question you should be asking is how often you need location updates. Some RTLS solutions are updated every couple of minutes. Some systems can update every few seconds. The question is, how often do you need to know the location of your assets? Being able to customize your asset tracking solution to meet your location update needs ensures you never lose sight of what you’re trying to locate.
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- Innovation. Organizations can be freed up to innovate and bring more impactful products and services to market.
- Profitability. Increased profitability provides new opportunities to innovate and improve valuation.
- Digital Transformation. Discover competitive advantages, new revenue opportunities, improved customer relationships and increased efficiency.
3. How Accurate is the Asset Tracking System?
Depending on your asset tracking needs, accuracy can be a deal breaker. Some location systems have pinpoint accuracy, while other systems provide accuracy within a certain range. Understanding the different variations that RTLS solutions provide is key in meeting use case-specific needs. For example, let’s say you only need to know the general area of a piece of equipment. Implementing a system that can get as granular or as broad as you need ensures you’re getting exactly what you need for tracking and monitoring equipment.
4. How Long Do The Batteries Last?
Battery longevity plays an important role when deciding on an asset tracking system to implement. After a time, the cost of replacing batteries will impact the system’s ROI. Some solutions may have greater location accuracy but compromise battery life. Finding a balance between both battery life and accuracy ensures both of your needs are met.
5. How Far of a Range Does The RTLS Have?
Because of satellite technology, some location systems can find assets anywhere in the world. Other systems can only track assets within a few meters. Depending on your needs, either may suffice.
6. How Much Does it Cost?
The final question many companies want to know is how much the location system costs. There are multiple costs associated with RTLS systems. The previous five questions have an influence on cost. Battery replacement costs and installation costs are two factors to consider. Link Labs’ AirFinder solution uses off-the-shelf tags to lessen cost constraints. Along with AirFinder’s long-lasting batteries, many companies are finding the ROI impact immediately upon implementation.
Why Choose AirFinder?
Link Labs’ AirFinder solution is revolutionizing the real time location system industry. AirFinder tackles all of the biggest concerns when making the decision to implement an asset tracking solution. From affordability, to location accuracy, tracking anywhere you need it, and battery life, many companies are either making the switch or implementing an AirFinder pilot to find relief in their workplace challenges. For more information, book a demo today.
