Identify and locate any asset - any time, anywhere
Asset tracking is the process of monitoring and managing physical assets. These assets can range from various types of Returnable Transport Items (RTIs) or Unit Load Devices (ULDs), to equipment, tools and vehicles to products and high-value goods. The primary goal of asset tracking is to ensure accurate and real-time visibility of the location, status and condition of your assets, enabling you to prevent loss, optimize utilization, enhance asset management and improve overall operational efficiency.
Asset tracking involves two key concepts: asset identification and asset localization.
Asset identification
Asset identification refers to the unique tagging of individual assets to distinguish them from one another. Each asset is assigned a unique identifier, such as a barcode, RFID (Radio-Frequency Identification) tag, QR code or serial number. This identifier is associated with specific information about the asset, such as its type, manufacturer, model, purchase date, maintenance history and other relevant data.
Asset identification enables you to:
- Keep a digital record of each asset's characteristics and attributes
- Easily access detailed information about an asset by scanning its identifier
- Prevent confusion or errors by ensuring that assets are accurately identified and differentiated
- Streamline maintenance and repairs by tracking an asset's usage and maintenance history
Asset localization
Asset localization involves tracking the real-time location and movement of tagged assets. This is achieved through sensor-based technologies, such as RFID (Radio Frequency Identification), BLE (Bluetooth Low Energy) and GPS (Global Positioning System). By collecting and analyzing data from these technologies, you can pinpoint the current location of your assets, as well as the additional information recorded in the asset’s identifier.
Asset localization enables you to:
- Monitor the movement of assets throughout warehouses, distribution facilities and in the end-to-end supply chain
- Optimize asset utilization by identifying assets' proximity to tasks or operations
- Respond promptly to asset deviations or unexpected movements
- Enhance security by preventing unauthorized asset movements
- Conduct inventory reviews and audits using accurate asset identification and localization data
Asset identification and localization work together to provide you with increased visibility and control of your assets, minimizing the risk of loss or mismanagement and enabling more efficient operations.
How asset tracking brings value to your business
Asset tracking provides many benefits for your business. Here are some of the primary advantages of asset tracking in the industries we are proud to support at Lyngsoe Systems.
Supply chain and logistics
Variable cost reduction
Asset tracking in the supply chain leads to significant reductions in variable costs. Enhanced visibility into asset movement and location results in fewer assets being lost or misplaced, reducing the need for replacements and minimizing associated expenses. Automated asset tracking also reduces the reliance on manual processes, lowering labor costs.
Informed decision making
Supply chain asset tracking provides businesses with real-time visibility into the movement, location and condition of assets, allowing for data-driven decision making. This enhanced insight empowers companies to make informed choices regarding inventory management, resource allocation and operational efficiency.
Improved operational efficiency
By optimizing procedures based on accurate information, businesses can reduce errors, minimize waste and improve quality, leading to enhanced overall performance and a competitive edge in the market.
Postal
Transport optimization
Asset tracking in postal operations minimizes costs through transport optimization. By tracking container usage and availability, postal operators can avoid unnecessary transportation of empty containers, including pallets, roll cages, RTIs (returnable transport items) and ULDs (unit load devices), helping to optimize resources and reduce expenses.
Optimized procurement of containers
Asset tracking enables effective container management through asset localization and insights into usage patterns. Postal operators can strategically procure containers based on demand, preventing overstocking and wastage while ensuring a steady supply for shipping needs.
Enhanced delivery accuracy
Real-time asset tracking enables postal operators to accurately plan routing and scheduling, as well as track packages. This provides more accurate delivery estimations, reduces delivery errors, and enables customer requested rerouting, leading to improved customer satisfaction.
Healthcare
Optimized patient care
Accurate asset tracking in hospitals and healthcare facilities ensures medical equipment is readily available for patient care. It helps healthcare professionals quickly locate essential medical devices, resulting in improved response times and better patient outcomes.
Enhanced maintenance efficiency
Real-time monitoring of medical equipment streamlines planned preventative maintenance and reactive repairs, reducing the risk of equipment failures and ensuring that devices are in optimal working condition to provide reliable patient care.
Regulatory compliance and record keeping
Asset tracking aids healthcare providers in adhering to regulatory requirements. Accurate records of equipment usage and maintenance history are easily accessible, ensuring compliance during audits.
Airports and airlines
Improved baggage handling
Asset tracking aids airports and airlines in the monitoring of passengers’ luggage from check-in to the destination. This improves baggage routing efficiency, reduces mishandling and potential delays, and allows a quicker turnaround for flights.
Increased asset utilization
Asset tracking data enables planned preventative maintenance of critical airport assets. This reduces the amount of time assets are out of service, improves resource allocation, and minimizes disruption to airport operations.
Enhanced passenger experience
Asset tracking is a crucial part of passenger baggage management. It ensures the timely, efficient routing of baggage and reduces instances of lost luggage. As a result, travelers' confidence in their belongings' safety grows, improving passenger satisfaction and loyalty.
Which asset tracking technology fits your business?
Many different technologies can be used for asset tracking, including RFID, BLE, LPWAN, GPS and barcode. Each technology has distinct benefits and limitations.
RFID can read multiple tags simultaneously and offers a higher read range than barcodes, but it can be costly, and the read range might lead to unintentional tag reads if not managed properly. BLE is suitable for real-time tracking and can be read by smartphones, yet it is limited in range compared to some other technologies like GPS, and in some cases LPWAN. Barcodes are cost-effective and easy to implement, but they require direct line-of-sight, manual scanning, which is time-consuming and more prone to errors. GPS utilizes existing mobile networks, but it is constrained by cellular coverage and has higher costs.
At Lyngsoe Systems, our asset tracking systems use a combination of these technologies to form a solution that is suited to your requirements. We assess your specific use case, budget, existing infrastructure and the operational processes of any third-party partners to specify the combination of technologies to best meet your tracking needs.
Lyngsoe LIVE Logistics™ – for scalable end-to-end tracking
At Lyngsoe Systems, we offer a unique, adaptable RTLS (real-time locating system), Lyngsoe LIVE Logistics™, which specializes in turning data into valuable insights for your business.
Lyngsoe LIVE Logistics™ is a technology agnostic platform that collects, governs and transforms complex identification and localization data from various sources, including RFID, BLE, barcode, GPS, LPWAN (Low Power Wide Area Network) and LoRa (Long Range). The refined data is delivered to your existing applications, such as Warehouse Management Systems (WMS), Transport Management Systems (TMS) or Enterprise Resource Planning (ERP) systems in a standardized format based on the GS1 reference architecture. You can use these insights to enhance your business decision making and optimize your operations.
Lyngsoe LIVE Logistics™ is designed to accommodate the growth of your business, ensuring that, as your company expands, the tracking capabilities can effortlessly scale in tandem. This scalability ensures that the system can handle increased data volume, integrate new data sources, and support various infrastructures, making it a comprehensive and adaptable solution for businesses of all sizes. The platform can be deployed as a cloud-based or on-premises solution, or in a hybrid infrastructure based on your preference and budget.
Swiss Post, which is renowned for its innovation, aims to consistently meet ambitious customer satisfaction goals. Aligned with its core values of reliability, value enhancement and sustainability, Swiss Post continuously seeks to invest in cutting edge technology.
To optimize processes, improve quality and reduce costs, Swiss Post collaborated with Lyngsoe Systems. We provided an advanced, automated, RFID-based material management solution comprising 600 quick mount RFID portals across 47 sorting centers, reading RFID tags on containers and barcodes on mail trays. The end-to-end track and trace solution handles
The system provides improved visibility of mail and the ability to identify bottlenecks, enabling Swiss Post to improve service quality, substantially reduce costs, meet strategic targets, and achieve better customer satisfaction.
Lead the way with asset tracking today
At Lyngsoe Systems, we are specialists in asset tracking and have been delivering automated tracking solutions for over 40 years. We collaborate with you to provide a solution tailored to your business requirements and goals. We offer an end-to-end service, from consultation and installation to deployment and ongoing support.
Get in touch with our expert team to discuss how we can work with you to achieve higher efficiency and performance, helping you to stay ahead of your competition.
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