How to Choose the Best Asset Tracking Solution for Your Business

Asset tracking is a vital process for any business that owns or manages physical assets. It can help you improve your business efficiency, costs, security ,and compliance. It can also help you optimize your asset utilization ,maintenance ,and lifecycle. But choosing the best asset tracking solution for your business can be challenging. With so many options available in the market,you need to consider various factors,such as types ,features ,costs ,and benefits .That’s why we created Shelf - Asset Tracking Infrastructure for Everyone,a flexible and user-friendly platform that supports multiple types of asset tracking solutions and integrations.

How to Choose the Best Asset Tracking Solution for Your Business
Written by
Carlos Virreira
Published on
May 25, 2023

How to Choose the Best Asset Tracking Solution for Your Business with Shelf

If you run a business that owns or manages physical assets, such as equipment, tools, vehicles, or inventory, you know how important it is to keep track of them. Asset tracking is the process of monitoring the location, condition, and status of your assets using various technologies and methods.

Asset tracking can help you improve your business efficiency, reduce your operational costs, enhance your asset security, and comply with industry regulations. It can also help you optimize your asset utilization, maintenance, and lifecycle.

But how do you choose the best asset tracking solution for your specific needs and goals? With so many options available in the market, it can be hard to decide which one is right for you.

That’s why we created Shelf - Asset Tracking Infrastructure for Everyone, a flexible and user-friendly platform that supports multiple types of asset tracking solutions and integrations. Whether you want to use barcode, QR code, RFID, GPS, or IoT, Shelf can help you do it in a simple and visual way.

In this blog post, we’ll show you how Shelf can help you choose the best asset tracking solution for your business by providing an overview of the different types of asset tracking solutions, comparing their pros and cons, giving some examples of how they can be used for different use cases, and providing some tips on how to evaluate and select the best option for you.

Finding the percect asset tracking solution

Types of Asset Tracking Solutions

There are five main types of asset tracking solutions that you can use for your business: barcode, QR code, RFID, GPS, and IoT. Let’s take a look at each one and see how they work.

Barcode

Barcode asset tracking is one of the most common and widely used methods of asset tracking. It involves attaching barcode labels to your assets and scanning them with a barcode scanner or a mobile device to record and update their information.

Barcode asset tracking is relatively simple, low-cost, and easy to implement. It can help you identify and locate your assets quickly and accurately. However, barcode asset tracking also has some limitations, such as:

  • Requiring line-of-sight scanning
  • Being prone to damage or wear-and-tear
  • Having limited data storage capacity

QR code

QR code asset tracking is another method of asset tracking that uses a type of 2D barcode that can store more data than a regular barcode. It involves attaching QR code labels to your assets and scanning them with a QR code scanner or a mobile device to record and update their information.

QR code asset tracking has some advantages over barcode asset tracking, such as:

  • Not requiring line-of-sight scanning
  • Being more durable and resistant to damage or wear-and-tear
  • Having higher data storage capacity

However, QR code asset tracking also has some drawbacks, such as:

  • Being more expensive than barcode labels
  • Having potential readability issues with low-quality scanners or cameras
  • Requiring internet connection to access some data

With Shelf, you can easily use QR code asset tracking for your business. You can print or order QR code labels from within the app and attach them to your assets. You can then scan them with your smartphone or tablet camera and update their information on the spot. You can also view and edit your asset information on any device with an internet connection.

Shelf offers QR codes for all your assets and use cases

RFID

RFID (radio-frequency identification) asset tracking is another popular method of asset tracking. It involves attaching RFID tags to your assets and using RFID readers or antennas to capture and transmit their data wirelessly.

RFID asset tracking has several advantages over barcode or QR code asset tracking, such as:

  • Not requiring line-of-sight scanning
  • Being more durable and resistant to harsh environments
  • Having higher data storage capacity

However, RFID asset tracking also has some drawbacks, such as:

  • Being more expensive than barcode or QR code labels
  • Having potential interference issues with other devices or materials
  • Requiring more complex installation and maintenance

In Shelf, you can use NFC Stickers for asset tracking. You have to order them via our website or app. We will create them and deliver them to your door!

NFC is a subset of RFID technology that was initially designed to support short-range communication for mobile devices. Through magnetic field induction, NFC enables two devices to send messages when they're near one another. To read more about this technology, please check this blog.

GPS

GPS (global positioning system) asset tracking is a method of asset tracking that uses GPS satellites to determine the location of your assets. It involves attaching GPS trackers to your assets and using a web-based or mobile platform to view their location on a map.

GPS asset tracking is ideal for tracking assets that move frequently or across long distances, such as vehicles or containers. It can help you monitor your asset movements, routes, speed, and performance in real-time. However, GPS asset tracking also has some challenges, such as:

  • Being dependent on network coverage and signal strength
  • Being affected by weather conditions or obstructions
  • Having higher power consumption and battery drain

IoT

IoT (internet of things) asset tracking is a method of asset tracking that uses IoT devices and sensors to collect and transmit data from your assets over the internet . It involves connecting your assets to a cloud-based or on-premise platform that analyzes and displays their data .

IoT asset tracking is the most advanced and versatile method of asset tracking . It can help you track not only the location but also the condition and status of your assets in real-time . It can also help you automate your asset management processes , optimize your asset performance , and prevent potential issues or failures . However , IoT asset tracking also has some challenges , such as :

  • Being more complex and costly to implement and maintain
  • Requiring high-level security and privacy measures
  • Having compatibility issues with different devices or platforms

Examples of Asset Tracking Use Cases

Depending on your industry and business needs , you can use different types of asset tracking solutions for different use cases . Here are some examples :

Warehouses and Data Centers benefit greatly from Asset Management
  • Inventory management: You can use barcode ,QR code ,or RFID asset tracking to track your inventory levels , locations , and movements across multiple warehouses or stores . You can also use IoT asset tracking to monitor your inventory conditions , such as temperature , humidity , or expiration dates . This can help you improve your inventory accuracy , availability , and quality.
  • Equipment maintenance: You can use barcode ,QR code ,or RFID asset tracking to track your equipment usage , maintenance history , and warranty status . You can also use IoT asset tracking to monitor your equipment health , such as temperature ,vibration ,or pressure . This can help you optimize your equipment maintenance schedules ,reduce downtime ,and extend equipment lifespan.
  • Fleet management: You can use GPS or IoT asset tracking to track your fleet vehicles’ locations ,routes ,speeds ,and fuel consumption .You can also use IoT asset tracking to monitor your fleet vehicles’ conditions ,such as tire pressure ,oil level ,or engine status .This can help you improve your fleet efficiency ,safety ,and compliance.

Tips on How to Choose the Best Asset Tracking Solution for Your Business

Now that you have an idea of the different types of asset tracking solutions and how they can be used for different use cases , how do you choose the best one for your business ? Here are some tips :

  • Define your requirements: Before you start looking for an asset tracking solution , you need to define your requirements clearly . What are the types , quantities , and values of assets that you want to track ? What are the goals and objectives that you want to achieve with asset tracking ? What are the features and functions that you need from an asset tracking solution ? What are the challenges or pain points that you want to solve with asset tracking ?
  • Set your budget: After you define your requirements , you need to set your budget accordingly . How much are you willing and able to spend on an asset tracking solution ? What are the initial and ongoing costs involved in implementing and maintaining an asset tracking solution ? What are the expected returns on investment (ROI) from using an asset tracking solution ?
  • Research the market: Once you have your requirements and budget in mind , you need to research the market and compare different options available . What are the pros and cons of each type of asset tracking solution ? What are the reviews and ratings of each asset tracking solution provider ? What are the customer testimonials and case studies of each asset tracking solution provider ?

With Shelf , you don’t have to spend hours researching the market for an asset tracking solution . Shelf is the best asset tracking solution for your business , as it has many advantages over other options , such as :

  • Being simple and user-friendly
  • Supporting multiple types of asset tracking solutions and integrations
  • Being customizable and scalable
  • Being secure and reliable
  • Being affordable and flexible

Don’t just take our word for it - check out what our customers have to say about Shelf on our website or social media . You can also read some of our success stories or case studies to see how Shelf has helped businesses like yours achieve their goals and overcome their challenges .

  • Test and implement the solution: Finally, you need to test and implement the solution that best suits your needs and goals. How easy or difficult is it to install and configure the solution? How user-friendly or intuitive is it to operate and manage the solution? How reliable or accurate is it to track and report your assets?

With Shelf, you don’t have to worry about testing and implementing an asset tracking solution. Shelf is easy to install and configure, as you just need to download the app or access the web dashboard, sign up for an account, and start adding your assets. Shelf is also user-friendly and intuitive, as you can use any device to scan, view, and edit your assets, and use simple gestures and commands to navigate the app or web dashboard. Shelf is also reliable and accurate, as it uses advanced technologies and methods to track and report your assets in real-time, and alerts you of any changes or issues.

  • Measure and optimize the results: Lastly, you need to measure and optimize the results from using the solution. How well does it meet your expectations and objectives? How much does it improve your efficiency,costs ,security ,or compliance ? How much does it add value to your business?

With Shelf, you don’t have to worry about measuring and optimizing the results from using an asset tracking solution. Shelf helps you measure and optimize the results from using an asset tracking solution, by providing you with real-time data and insights on your assets. You can use various metrics and reports to see how well your assets are performing and impacting your business. You can also use various tools and features to optimize your asset management processes and outcomes. For example, you can use filters, categories, tags, etc. to organize your assets better; you can use alerts, notifications, reminders, etc. to stay on top of your assets; you can use integrations, APIs, webhooks, etc. to connect your assets with other platforms and systems; etc.

Conclusion

Asset tracking is a vital process for any business that owns or manages physical assets. It can help you improve your business efficiency, costs, security ,and compliance. It can also help you optimize your asset utilization ,maintenance ,and lifecycle .

But choosing the best asset tracking solution for your business can be challenging. With so many options available in the market,you need to consider various factors,such as types ,features ,costs ,and benefits .

That’s why we created Shelf - Asset Tracking Infrastructure for Everyone,a flexible and user-friendly platform that supports multiple types of asset tracking solutions and integrations.

Shelf helps you keep track of what you own, where it’s located ,and what condition it’s in. You can also effortlessly create product pages for each item by simply taking a photo of it and adding relevant tags and information .

If you’re ready to start choosing the best asset tracking solution for your business with Shelf ,sign up for a free trial or a demo today .You’ll be amazed by how much easier and better your business will be with Shelf.

If you have any comments or questions about this blog post or about Shelf ,please feel free to leave them below or contact us for more information. We’d love to hear from you.

Article by
Carlos Virreira

Founder / Vision Lead at Shelf.nu

Table of contents
How to Choose the Best Asset Tracking Solution for Your Business
Carlos Virreira
Co-Founder Shelf

Founder / Vision Lead at Shelf.nu

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