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Asset Management

How Best To Utilise An Asset Tracking System

By Dr. Alex Wong
July 21, 2022 • 3 min read
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Businesses small and large depend on their assets for their everyday operations and decision making. To do this businesses need clear visibility over where their assets are and how they are behaving. An asset tracking system empowers businesses to do just that by tracking and managing assets, as well as the data associated with them, all in one place. Setting up your own asset tracking system can feel like a daunting task at first. It’s all about laying the right foundations, after that you can enjoy enhanced visibility and control over your assets.


What Is An Asset Tracking System?

An asset tracking system allows users to track their assets throughout their life cycle. The system retains records of usage, maintenance, and history of assets. Data such as location or assigned person is logged via asset scanning and automatically updated in the asset register. Keeping a historical data trail for each asset helps to locate assets when needed, reduces disruptions in operations, and avoids the expense of purchasing unnecessary replacements.


How to Use An Asset Tracking System

To get the most out of your asset tracking system it’s important to put the right infrastructure in place. The How to track an asset can be broken down into three steps:

 

  1. Attach a tag to the asset.
  2. Create an asset database.
  3. Assign assets to users.
  4. Equip your team with the right devices.


Tag Assets

Setting up your asset tracking system begins with tagging your physical assets. Choosing the right tag for your application is key to ensuring full functionality of your asset tracking system. It’s important to get to know which tag is right for your environment and needs. But regardless of which one you choose, they all achieve the same outcome: letting you know the location of your asset. With itemit’s asset tracking software you can simply tag assets and scan, and photograph them for instant recognition within an asset register.


Create a Database

It’s a good idea to begin by creating a database of your assets so you can store all the necessary information associated with them in one centralised place. You can use the database to add relevant documentation such as user manuals and insert descriptions of your assets so your employees or clients can view associated data in-app after each scan. Plus, every time you scan an asset its record of location will be automatically updated.


Assign Assets to Users

Assigning important assets to appropriate users can help to protect your assets. An asset’s importance can be based on a number of factors, including its sensitivity, criticality, value, or the compliance requirements placed upon it. Important assets should be assigned to responsible people within your team who can then establish and maintain appropriate safeguards for those assets. This also helps to establish accountability and minimises the risk of loss, theft or unauthorised usage. With itemit’s check-in and check-out functionality you can ensure your assets are where they need to be and with the right people. When your team checks a piece of equipment in or out the asset manager is automatically notified.


Equip Your Team With the Right Devices

After you have established who is responsible for your assets the next step is to equip those people with devices they need. Often it is the Information Technology team who are actually receiving and/or installing the assets. Putting portable scanners in the hands of these people can greatly speed up the asset tracking process.


itemit’s Asset Tracking System

With itemit’s sophisticated asset tracking systems data audits and asset tracking can be done within one, easy-to-access space. The simplicity of managing and storing your data from a single location leads to great simplicity and ease of use. An asset tracking system also streamlines forecasting by maintaining precise inventory counts in a central database, along with historical data, previous orders and other information. Every bit of data is at your fingertips, enabling you to identify trends and make more accurate predictions to meet demands.

itemit’s cloud-based system offers low set up and implementation costs combined with greater accessibility thanks to its mobile app. Our asset tracking software solutions eliminate the cumbersome and unreliable manual methods, giving you back the time you need to invest in you business.

If you would like to learn more about itemit’s asset tracking software, contact our friendly and helpful team today. You can reach them at team@itemit.com. Alternatively, you may want to consider signing up for our 14-day Free Trial to find out just how well itemit’s software can work for you. We’re confident that you will love the software’s features and how it can improve the day-to-day running of almost any business.

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Dr. Alex Wong

Article by

Dr. Alex Wong

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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