An asset tracking system is used to identify and track the movements of various items (such as stock, equipment, products, raw materials and so on) within an organization. It generally involves the use of labels or devices (such as barcodes or RFID chips) on each item that can be scanned to provide data about their location and movements and the number of items available at any given time.
Asset tracking systems solve various business challenges associated with managing assets and enable companies to become more efficient by providing a unified view of their assets which can be used to make business decisions. In a production environment, for example, raw materials can be tracked during the production process and re-ordered when levels become low. Assets can also be items such as tools and equipment which can be tracked to locate them, see who is using them, whether they require maintenance or whether they have been returned after use.
