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).