Asset Tracking is a system of managing equipment (generally high-value assets such as generators, tools or OHVs using GPS tracking devices, barcodes or RFID tags. It is used to improve security and utilisation of a company's assets.
Assets tracked using a GPS tracking device are easiest to manage and offer a greater depth of data than barcodes and RFID tags. Barcodes and RFID tags require specialised scanning equipment and are generally used solely to track assets for accounting or storage purposes.
Assets that are tracked using GPS can transmit their location using the cellular or satellite network, or a combination of the two (known as dual-mode) to make sure reporting is not interrupted when an asset moves outside the cellular network.
GPS tracking devices can be self-powered (with batteries lasting up to four years depending on their reporting rate) or hard-wired into the asset's power source.
Industries that commonly use Asset Tracking include construction, farming, oil, gas and mining. AEMP is a data standard that is adhered to by equipment manufacturers such as Caterpillar, John Deere and Komatsu. It means someone who is managing assets from several different manufacturers can use an AEMP-compatible fleet management system to see all their assets tracked on the same screen.
Asset Tracking can be used to improve the accuracy and efficiency of maintenance by reporting their current mechanical health and status (e.g. engine hours).