What is an Asset Management system_

1. What is Asset Management Solution (AMS)? The Internet of Things (IoT) and several other asset management solutions are transforming several industrial verticals. Asset management systems have become the new norm for businesses eyeing greater expansions and technological advancements. Most essentially, if you equip your business with the right Asset Management system (AMS), rest assured, your business is going to benefit greatly from optimal asset tracking and management. The positive outcomes also extend to enhanced asset utilisation, improved productive uptime, and significantly lower operational costs for the business. The current article will focus on more details on what an asset management system is and how RFID tracking solutions help transform businesses. Asset Management Solution (AMS) :

2. An asset management system is something that is used by a company or organisation to track its assets put to use in day-to-day business operations. Simply put, asset management solutions refer to a combination of software, hardware, and services. It can be understood as a process used for managing the wide gamut of assets of a business. Wondering what these assets can be? Well, they can be anything from being tangible or intangible. Examples include working personnel, software, buildings, hardware, inventory, money, monetary assets, etc. Technology under Asset Management Systems (AMS) Advanced technologies are used to their full potential. These include barcodes, RFID, RTLS, sensors, etc. End to end solutions are provided to the customers. How is an Asset Management System (ASM) different from a manual tracking system? The manual tracking system involves writing the unique item identification manually on every item. Otherwise, it can also be printed using adhesive stickers. The data manually collected by the people incharge is then entered into the tracking system. The system processes all this information to record the location of each of the items. Functioning of an Asset Tracking System RFID tags are embedded into every item utilising IoT based Asset Management Solutions. These tags serve as electronic radio transmitters that are equipped with a microchip and antenna. They have a battery installed and are attached to the items. Each tag has a unique identification number. The tags send radio waves to the computer system attached. The computer system serves as the receiver device that clearly interprets the identification number.

3. Let us go into some more details about this process - - Multiple detection points are set up and placed with controllers. When the asset passes through choke points, the device detects the signals and the unique ID. This ID is received by the computer system. The system will use this information for further processing. Several asset analytics are then applied. Many of the manual stages and processes are streamlined. - - Benefits of asset tracking Here is a list of some of the many benefits associated with the use of asset management solutions for asset tracking - ● User friendly interface ● Maintenance tracking and planning ● Lifecycle management ● Real-time tracking of assets (tangible and intangible) ● In-depth reporting ● Seamless workload distribution ● Compatibility with mobile devices Contact a trusted and reliable provider of RFID asset tracking services, asset management solutions, etc. They are equipped with the right technologies, materials, devices and skill set to support businesses and companies. For more information about asset tracking system contact Trakaid or call us at +1 203-925-8388