Reduce equipment loss with an asset tracking solution

What is Asset Tracking?

Asset tracking allows businesses to maintain knowledge about the where abouts of there assets. Generally, this means keeping tabs on the location of equipment and inventory so that when it is needed it can be quickly and easily found without wasting valuable time.

DornerWorks can help you keep track of your assets
Asset tracking can reduce loss and increase efficiency.

Asset tracking benefits both users of the system and their customers. Depending on the industry it could mean cost savings, increased efficiency, greater revenue generation for the business or better customer care, quicker service, and interacting with a more knowledgeable staff on the customer’s side.

One example of these benefits is described in our Precision Medical Asset Tracking blog. In a hospital, respirators, medical carts, and other specialized medical devices are the difference between life and death. And when one goes missing or someone forgets where it was left the consequences can be catastrophic.

In response to these problems, DornerWorks has created the technology to use set anchors throughout buildings that pick up a signal from the device in question and measure its distance away. Using multiple reference anchors, the technology triangulates the precise location in real time allowing anyone with a mobile device and application to see the exact location. This will reduce the time it takes to find missing items, hopefully reduce shrink and theft, and allow better monitoring of inventory. Taken together these factors reduce time and contribute to a better customer experience.

DornerWorks can help you develop a quality asset tracking system.
DornerWorks can help you develop a quality asset tracking system.

For the medical industry, knowing exactly where devices and tools are down to a few feet or even inches could be a necessity. In other industries like retail, simply knowing which room or warehouse inventory is stored is enough. Similar to the wide range of precision needed, the overall tracking area also widely varies. One asset tracking system may need to only cover a single room where another may need to span the state or country. For the various needs of asset tracking systems, there are various technologies to accomplish them with each having its own advantages and disadvantages.

Determining the Right Asset Tracking System

To begin we must first identify the benefits of asset tracking that are desired and the specific uses that are needed. Next, we must consider some additional main points:

  • Mobility: How much the asset moves?
  • Accuracy: How precise does tracking need to be?
  • Frequency: How often is it necessary to know the location of the asset?
  • Location: How large is the area the system needs to cover and are there multiple floors?
  • Quantity: How many assets do you want to track?
  • Industry Requirements: Are there certain extra requirements of the industry?
    • For example – In the medical industry, asset tracking technology cannot interfere with other devices using x-rays, Wi-Fi, Bluetooth, etc.
DornerWorks enables you to know where your assets are at every moment
DornerWorks helps innovators turn their ideas into reality.

Finally, we can start to picture which technology will be the best to use. Below are a few of the more common asset tracking technologies that can help you accomplish your goal.

Type Method Advantages Accuracy
RFID/QR Code Check-in Check-out Large area Limited to check-in locations
Bluetooth Low Energy Uses Proximity to Wi-Fi Networks Easily connectable to mobile devices High Accuracy
Wi-Fi Uses Proximity to Wi-Fi Networks Larger range than Bluetooth Moderate Accuracy
Ultra-wide Band Uses anchors and signals to triangulate Accuracy Extreme Accuracy
Long Range Technology Use GPS tracking with various relaying systems Long Ranges Lower Accuracy

In addition to simply tracking assets, systems can now be paired with analytics, big data, IoT, AI, and other systems. This can allow you to analyze where things are going missing, who might be responsible, where equipment spends the most time, frequency of use, scarcity of resources, and more. The possibilities are endless.

Navigating all of these considerations and technologies, advantages and disadvantages can be confusing. We are here to help. If u have questions, concerns, or want help choosing the right tech and building it into your product let’s talk. Allow us to use our expertise to bring your business to the next level.

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