The use of real-time visibility on equipment, inventory, and personnel is not a new idea. In the early 21st century, one could manage assets through spreadsheets and manual locating processes. But with ever-changing technology, asset tracking has evolved significantly in recent years.A Look at Asset Tracking in the Past
As previously mentioned, asset tracking has been a necessary part of businesses and organizations for decades. The earliest means of asset tracking included companies manually inputting information into spreadsheets. As equipment moves and maintenance dates expire, manual inputting can become laborious and quickly irrelevant, while opening the risk for human error. The information becomes invalid as fast-paced companies continue their activities, leaving the spreadsheet out of date. It is not that these processes were incorrect or meaningless, but companies began to realize a major opportunity for improvement.
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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.
A Look at Asset Tracking in the Present
Because of the room for improvement, asset tracking processes have evolved in the digital age. There are now software programs and hardware products that allow companies to revolutionize asset tracking processes from laborious tasks to seamless tracking. Asset tracking technology has allowed companies to know not only where their equipment is but also how long it was in a certain location, usage data, and more – all in real-time. For logistics purposes, buyers and sellers can monitor the progression of shipment. For manufacturing, asset tracking helps to prevent or eliminate bottlenecks and equipment loss. Healthcare industries can keep track of expensive equipment and monitor upcoming maintenance needs for life-saving equipment. These added benefits show why the technological advancements in asset tracking have been so helpful to companies all over the world.
A Look at the Future of Asset Tracking
Technology changes every day. Advancements in the IoT world are constant. Asset tracking has now become a technology driver that is constantly bringing process improvements to a wide range of industries. With the adaptation of AI and cloud computing, most asset tracking responsibilities will soon be technologically controlled. Continued growth in customization and optimization of asset tracking technology will remain, along with new and exciting advancements. The world of IoT is ever-changing, and the future of asset tracking is limitless.
Link Labs’ Asset Tracking Technology Solutions
Curious to learn more about how Link Labs can provide asset tracking solutions for your company? Book a demo with us today to learn more about AirFinder to stay ahead of the industrial revolution in your workplace.