The Future Of Equipment Management And Industry Trends To Watch

July 28, 2023 • 3 min read
The Future Of Equipment Management And Industry Trends To Watch
Home 5 Equipment Management 5 The Future Of Equipment Management And Industry Trends To Watch
When you run a business you need to know that you can take good care of it. One of the easiest ways to do this is to take control of your assets. Using the right office equipment management software can make life so much easier. Incredibly, there are still a lot of businesses that are not managing their equipment properly, if at all. The good news is that such businesses seem to be growing few and far between.

The latest office equipment management software and indeed any equipment management software for any industry no doubt works well. It has a lot to offer and as we have already seen, can make life easier. But what is going to happen in the future? What equipment management trends and indeed industry trends do we need to watch out for?

Let’s take a look at some of the trends now.

Prolonging Asset Life

It’s highly likely that asset life will be prolonged. These days, we are more concerned about throwing away equipment that we no longer need to use. With a desperate need to improve how we treat the environment, equipment may last much longer. Predictive maintenance could help with this side of office equipment management. Additionally, being able to purchase spare parts with ease can help to prolong asset life. This is a trend that seems to have increasing priority.
Business Asset Tracking

Boosting Inventory Tracking

When you boost inventory tracking, you know where everything is, all of the time. You also know who has your equipment and why. A direct result of this is that less of your inventory is likely to go missing. It also means that you can have even deeper knowledge about your equipment. This may be thanks to AI and machine learning or simply better office equipment management software availability.

Managing Maintenance Remotely

More and more people work from home. In addition to this, more people work in an office that is not perhaps in the same city or country as the associated warehouse. The pandemic is likely to have had a large impact on this, however, remote work is still very popular. This is likely to be due to the fact that remote work can be less expensive than other types of work. In any case, the trend may continue long into the future.

One future office equipment management trend is likely to be related to remote maintenance management. In other words, managing the status of your equipment from elsewhere. This is something that will need to be effective in order to be successful. However, the right tools and the right software now exist to make this possible.

Increasing Safety

By using predictive maintenance, the safety of equipment, tools, computers, fleets of vehicles, and even buildings can be improved. Health and safety laws are likely to become even more stringent, resulting in a safer workplace for all. With the ability to identify potential hazards and other issues, predictive maintenance could further increase safety in the workplace. This is something that everyone wants, regardless of what type of business they’re in.

Reducing Downtime

If you want to make the most out of office equipment management software, you could use it to reduce downtime. Future trend information suggests that reducing downtime will be of major importance.

With the use of predictive maintenance, consistently good performance could boost efficiency in all areas and reduce downtime. What this means is that many important targets could be met and exceeded. Additionally, increased efficiency ensures that customers remain happy. Reducing downtime is, therefore, a future trend that almost every business should consider.

AI And Machine Learning

It is very likely that AI and machine learning will keep evolving. This continuous evolution may allow for better insights into how your equipment is performing. It may also create reliable predictions which could show you when some equipment is likely to break down. AI and machine learning are already something of a trend in many industries around the globe. However, this trend may continue as technology develops and becomes better at predicting future outcomes.

There are many future trends that we all need to keep an eye on. Many of these trends already exist, but they haven’t completely developed into something magnificent. There are also likely to be trends that we have no knowledge of yet. As machine learning and AI continues to develop, new and exciting trends that we can only dream of may come to fruition. The best thing for all industry leaders and business owners can do right now is to keep an eye out for such trends. When we do, future trends may catch our attention and allow us to understand our equipment in better ways. This can only be a good thing.

 

Wish to chat with an expert about office equipment management and trends? Contact us now at team@itemit.com.

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Beyond money saved, good inventory tracking makes operations smoother:

  • Faster picking and packing
  • Less time hunting for missing items
  • Better use of warehouse space
  • More productive employees
  • Smoother workflows between departments

These operational improvements create competitive advantages that make the inventory tracking process excellence a strategic asset.

Article by

Dr. Alex Wong is the CEO & Co-Founder of RedBite Solutions, a spin-out from the University of Cambridge and creators of itemit. For more than 2 decades, Alex’s innovations have disrupted industries and reimagined traditional solutions, delivering breakthrough results. A pioneer of the RFID EPC Network and IoT, Alex has shaped modern tracking technologies. RedBite powers the world’s largest RFID deployment across 60+ countries and launched itemit, a leading barcode, QR code, GPS & RFID SaaS tracking platform. Dr. Wong holds a PhD in Engineering from Cambridge and remains an embedded researcher, leading EU & Innovate UK projects to bridge research with real-world applications.

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Home 5 Equipment Management 5 The Future Of Equipment Management And Industry Trends To Watch

Asset tracking providers often present customers with two primary options: GPS technology or QR codes. These technologies frequently compete for market share, with many businesses unaware that they can serve similar functions. However, QR codes typically outperform GPS in versatility and functionality.

For businesses maintaining ICT asset registers or monitoring vehicle fleets, understanding the strengths and limitations of each system matters.

Let's examine these technologies alongside newer options like RFID and NFC to help you make better decisions about asset management.

GPS Tracking Technology Explained

GPS has become commonplace for drivers navigating unfamiliar routes. This satellite-based technology constantly transmits signals to your device, pinpointing your exact location. For asset tracking, GPS functions similarly by showing where specific items are located.

An interesting historical note: GPS was first developed for military applications before becoming available for civilian and commercial use.

Companies typically deploy GPS tracking for vehicle fleets, though many organisations also use it to monitor warehouse assets that move between locations. For complete information about managing physical business property, our guide on Fixed Assets provides valuable insights.

GPS for Business Asset Tracking

GPS tracking offers several distinct advantages for business asset management:

  • Real-time monitoring: GPS provides location data without requiring staff intervention, reducing human error while enabling 24/7 surveillance.
  • Geographic precision: Modern GPS systems achieve accuracy within 3-5 meters, sufficient for most commercial applications.
  • Theft recovery: According to insurance industry data, the ability to track stolen equipment improves recovery rates by up to 85%.
  • Movement history: Most GPS platforms store historical movement data, allowing businesses to analyse usage patterns and optimise asset deployment.
  • Geofencing capabilities: Companies can establish virtual boundaries that trigger alerts when assets leave designated areas, enhancing security protocols.
GPS technology

However, GPS technology brings notable limitations for comprehensive asset management:

  • Update frequency constraints: Standard business GPS systems refresh every 10-15 minutes, creating blind spots in high-speed movement scenarios.
  • Battery dependency: Active GPS trackers require power sources, necessitating regular maintenance or charging cycles.
  • Signal interference issues: GPS performance deteriorates inside buildings, underground locations, or areas with heavy concrete or metal infrastructure.
  • Implementation costs: Quality GPS hardware typically costs $50-300 per unit plus ongoing subscription fees ranging from $10-25 monthly per device.
  • Size and attachment challenges: GPS trackers remain too bulky for smaller assets and require secure mounting systems to prevent removal.
  • Limited data capacity: Unlike tag-based alternatives, GPS primarily delivers location data without storing extensive asset details.

These constraints explain why many operations managers complement GPS with alternative asset tracking tags that address these limitations. For stationary assets or equipment housed primarily indoors, passive tracking systems often deliver better value and functionality.

QR Code Technology

QR (Quick Response) codes resemble traditional barcodes but store significantly more information in their square matrix pattern. Nearly any smartphone or tablet can scan and interpret QR codes within seconds, making them highly accessible.

QR codes have quietly integrated into daily life—restaurants place them on tables for digital menus, theatres use them for seat-based ordering, and marketers embed them in advertisements for instant website access.

Like GPS, QR codes help monitor asset registers and track locations. However, they offer expanded functionality beyond simple location data. For those building IT equipment inventories, What is an IT Asset Register? explains key implementation concepts.

QR Codes in Practice

For businesses implementing QR code asset management, several key advantages emerge:

  • Information density: A single QR code can store up to 4,296 alphanumeric characters, enabling comprehensive asset profiles including serial numbers, purchase dates, warranty information, maintenance histories, and responsible departments.
  • Cost efficiency: QR labels cost between $0.05 and $0.30 per unit with no recurring fees, representing 70-95% cost savings compared to active tracking technologies.
  • Implementation simplicity: Deployment requires minimal technical expertise—standard label printers generate QR codes that attach via adhesive backing or cable ties.
  • Device compatibility: Over 97% of modern smartphones can scan QR codes without additional hardware or specialised apps.
  • Customisation options: Enterprise QR solutions allow for custom branding, colour-coding by department, and tamper-evident features.
  • Dynamic updating: Cloud-connected QR systems enable real-time information updates without replacing physical tags.

Integration capabilities: Modern QR systems integrate with ERP, CMMS, and accounting software through standard APIs, creating unified data ecosystems.

QR system

However, QR technology presents several notable limitations:

  • Scan dependency: QR codes remain passive—they require manual scanning rather than automatically broadcasting locations.
  • Line-of-sight requirement: Tags must be visible and accessible to be scanned, which can be challenging for assets in hard-to-reach locations.
  • Environmental vulnerabilities: Standard QR labels can degrade from UV exposure, abrasion, or harsh chemicals, though industrial-grade options mitigate this issue.
  • Security considerations: Public QR codes can be replaced or duplicated without sophisticated tampering detection, creating potential security vulnerabilities.
  • Process reliance: Effectiveness depends entirely on consistent scanning protocols and staff compliance.
  • Location triangulation limits: Without supplementary technologies, QR codes cannot provide autonomous location data.

To address these limitations, many organisations implement hybrid systems where QR codes work alongside checkpoint scanners at entry/exit points or integrate with Wi-Fi positioning systems for approximate indoor location data. This approach balances QR's information richness with improved location awareness without the full cost of active GPS or RFID asset tags.

RFID and NFC: Advanced Asset Tracking Alternatives

RFID vs NFC technologies represent sophisticated alternatives to traditional tracking methods, each with distinct operational characteristics:

RFID Technology Specifications

RFID asset tags operate through radio frequency identification in three primary frequency ranges:

  • Low Frequency (LF, 125-134 kHz): 10cm read range, slower data transmission, excellent performance around metals and liquids, commonly used for animal tracking and access control
  • High Frequency (HF, 13.56 MHz): 10-30cm read range, moderate data speeds, used extensively in library books, pharmaceuticals, and payment cards
  • Ultra-High Frequency (UHF, 856-960 MHz): 3-15m read range, fastest data transmission, susceptible to interference from liquids and metals, widely deployed in supply chain tracking and retail inventory

RFID implementation offers distinct advantages:

  • Batch scanning capability: A single reader can simultaneously capture 200+ tags per second, reducing inventory time by up to 95% compared to barcode methods
  • Non-line-of-sight reading: Tags function even when covered, dirty, or embedded within products
  • Durability: Industrial-grade tags withstand temperatures from -40°F to 400°F, chemical exposure, and mechanical stress
  • Data security: Enterprise RFID systems employ encryption standards like AES-128 to prevent unauthorised access
  • Automated inventory: Fixed RFID portals at entry/exit points create autonomous tracking without human intervention

Hardware costs present the primary barrier to RFID adoption:

  • Tag costs: $0.10-$0.50 for passive paper tags; $2-$25 for hardened industrial tags
  • Reader costs: $500-$2,000 for handheld units; $1,500-$5,000 for fixed portal readers
  • Infrastructure costs: Enterprise implementations typically require middleware ($5,000-$25,000) plus integration services

NFC Technology Applications

RFID asset tags operate through radio frequency identification in three primary frequency ranges:

  • Low Frequency (LF, 125-134 kHz): 10cm read range, slower data transmission, excellent performance around metals and liquids, commonly used for animal tracking and access control
  • High Frequency (HF, 13.56 MHz): 10-30cm read range, moderate data speeds, used extensively in library books, pharmaceuticals, and payment cards
  • Ultra-High Frequency (UHF, 856-960 MHz): 3-15m read range, fastest data transmission, susceptible to interference from liquids and metals, widely deployed in supply chain tracking and retail inventory

RFID implementation offers distinct advantages:

  • Batch scanning capability: A single reader can simultaneously capture 200+ tags per second, reducing inventory time by up to 95% compared to barcode methods
  • Non-line-of-sight reading: Tags function even when covered, dirty, or embedded within products
  • Durability: Industrial-grade tags withstand temperatures from -40°F to 400°F, chemical exposure, and mechanical stress
  • Data security: Enterprise RFID systems employ encryption standards like AES-128 to prevent unauthorised access
  • Automated inventory: Fixed RFID portals at entry/exit points create autonomous tracking without human intervention

Hardware costs present the primary barrier to RFID adoption:

  • Tag costs: $0.10-$0.50 for passive paper tags; $2-$25 for hardened industrial tags
  • Reader costs: $500-$2,000 for handheld units; $1,500-$5,000 for fixed portal readers
  • Infrastructure costs: Enterprise implementations typically require middleware ($5,000-$25,000) plus integration services

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