Days are long gone when IoT was considered all futuristic unheard of pieces of technologies that were like modern-day unicorns of the technology world, there are over 10 Billion IoT devices spread across the globe, and businesses from small to industrial level are incorporating them to resolve their everyday problems from tracking the health of the products using IoT tracking to track the location of the product itself with asset tracking system the IoT is making its foot stronger in every sector.
Why won’t this happen anyway? As the IoT offers limitless opportunities to drastically cut down the business expenses and helps to make more informed decisions in the cheapest way possible compared to the conventional methods. The IoT sector is expected to grow up to up to 1.5 Trillion Dollars by the end of 2025 firing up the industrial revolution 4.0 Yet most people near about 87 % haven’t heard of the term IoT.
IoT tracking devices for cars and trucks for both industrial and personal use are one of the most popular sectors where IoT is used today. The IoT asset tracking system operates with the help of IoT-enabled tracking devices embedded in the assets and sensors that are supported by the asset tracking software that uses the data according to its program. Now let’s discover how IoT asset tracking can help you as well.
What Is IoT Asset Tracking System?
IoT enabled Asset Tracking System or Smart asset tracking system is a group of connected devices used for tracking valuable property with the help of GPS and GNSS (Global navigation satellite system) it offers almost pinpoint accuracy of the properties location.
As every business from the owner of manufacturing equipment to the fleet of vehicles and animal husbandries wants to protect and look after their assets the IoT tracking devices come as a great rescue especially for non-mechanical assets. It not only tells the location but also the condition of the asset and also suggests how it can be taken care of better using analytics for example it can remind when to feed the livestock and when to give the required medicines.
4 Features IoT Tracking Device Must Have
The Connection Needs To Be Always Available From Any Distance
No tracker is good if it loses its connection every now and then and keeps you lingering in the last place where it was in. It needs to be active and attentive always. This is why it’s the first and foremost feature it must have.
Long-Lasting Battery Life
Most of the time the IoT trackers stay connected to the certain thing for months and for even years. You can’t just go routinely to test and recharge their battery levels so it’s the second must-have feature it needs to have. It needs to have long battery life.
Needs To Process Data
Showing the data is not enough it needs to have a complete processed understandable format and also the analytics to make more informed decisions. It’s the third feature it needs to have.
Needs to be secure
The IoT devices hold and control a large amount of data of the organization that is using them. It’s the reason IoT is more prone to hacking activities. The data in the wrong hands can put the organization at risk. So it’s a must that it has an extra level of security to prevent hackers.
How IoT Tracking Devices and IoT Applications Can Help Businesses
Reduce Supply Chain Disruptions
Assets that are non-mechanical or non-electrical and cant have an IoT-enabled tracking device into them, things like meat and beverages that need to be tracked to ensure delivery and supply in the proper time can be easily tracked with IoT tracking devices attached to them. It can help to control the temperature and humidity in the trucks while transporting.
Even when transporting livestock in a vehicle the IoT can ensure their safety on the way and also show the locations to ensure nothing gets lost in the process of transporting.
Info From Everyware
If you are an owner of a growing business you have a clear idea of how hard it is to track everything, traditionally you needed to be present in the business to get the data of the warehouse stocks, what have been dispatched and what needs to be restocked. Another advantage of IoT is the availability of data from any time anywhere on a website or mobile app.
For example, if you have an e-Commerce store for the food and grocery store and at night people orders 50 kilos of raw chicken the IoT can show you that you need to restock chicken while ensuring your customers are getting fresh stock in the scheduled time.
Better Business Discussions
The IoT can offer analytical help which is unheard of in conventional systems, It can bring you insights and data telling you what you need to know for better business decisions. As we already stated before IoT is a group of connected devices that can analyze data, it uses the data to tell you what decisions will make your decisions easier.
For example, if in a specific time of a year something gets sold more and more next year your IoT system will be reminding you to keep that specific thing in your stock more.
Improve Inventory Management
The analytics also help you to manage your inventory with the help of analytics it tells you what products bring you the most sales, what gets spoiled easily, what does not get sales at all, and what is the most profitable for you.
If you a store of musical instruments and people near your area likes to play guitar and most of your sold products are electric guitar and it generates minimal business from drums and flutes, the system will restrict you from investing any more on flutes and drums and tell you to put more money into different kinds of electric guitars and comparatively smaller stock for acoustic guitars to make your inventory more attractive to customers.
Locate And Identify Lost Equipment
With the growing size of warehouses and e-Commerce, another concern of lost or stolen items is increasing, Sure conventional CCTV Cameras were proven enough until now but people are coming up with new ways to evade those, they are Real-Time but they cannot detect hidden things.
On the other hand, a small IoT asset tracking chip or tag can tell the location of that certain thing from anywhere it is. It can also alert you when someone is trying to tear that out without permission. This can be extremely beneficial for tracking if something is getting stolen and coupled with traditional CCTV or Modern IoT CCTV it can show you who is trying to steal that thing.
Reduce Other Costly Problems
If your customer suffers doing business with you sooner to later your business will suffer too. Any incident that is other than a normal IoT tracking device can identify and inform by the admin to ensure a smooth path from the time of manufacturing to the end product where it is received by the customer.
This can maximize customer satisfaction and reduce and problems that can happen in the process of manufacturing minimizing any chance of costly malfunctions.
IoT is the new technological invention that has already spread its wings in almost every sector of business from warehouses to hospitals. IoT asset tracking systems commonly known as IoT tracking devices can completely change the business world as we know it today. From customer satisfaction to the security of the business it can improvise things like any other.
If it happens to grab your attention and you are thinking about having one IoT System for yourself don’t forget to check here on our services page we will be pleased to help you for free over a phone call.