Asset Tracking Technologies and Their Role in Industry 4.0

Published on : 12 March 20235 min reading time

Industry 4.0 technologies are creating efficiencies for businesses and increasing productivity. These technologies also learn about smart factory technology that is changing the manufacturing landscape. One of the most essential Industry 4.0 technologies for businesses to consider is asset tracking. Asset tracking is vital to record and monitor the movement of assets within a facility or during transports. Asset tracking technologies enable companies to improve inventory control, reduce theft, and boost production quality.

Importance of Asset Tracking in Industry 4.0

Asset tracking is a critical component of Industry 4.0, as it provides essential data to businesses that help them make informed decisions in real-time. The data collected can improve communication within a business and streamline asset-related operations. Asset tracking data detailing the asset’s location, status, and usage can be uploaded to a cloud-based system for access from anywhere, enabling companies to make more efficient decisions, track inventory, and reduce waste.

Types of Asset Tracking Technologies

Asset tracking technology comes in various forms, but two types stand out: active and passive tracking. Active tracking uses battery-operated devices attached to products or assets, transmit data every few seconds or minutes. Passive tracking, also known as “stick-on” tracking, relies on RFID stickers or barcodes to monitor assets. While active tagging technology is expdient for realtime tracking, passive tracking technology is less expensive and useful for tracking in larger areas.

Active vs Passive Tracking

Active tracking is beneficial when it comes to tracking outdoor equipment or shipment inventory while being transported from one location to another. Active tracking devices can be useful for fleet management and ensuring compliance with safety regulations. The downside is that this type of tracking technology is more expensive, and the tracking range decreases depending on its battery life.Passive tagging technology relies on RFID or barcodes to track assets. The tags placed on assets transmit their information to receivers or fixed readers. Passive technology is less expensive, and the hardware used for tracking is cheaper than active technology. It is suitable for inventory tracking and equipment in large areas, though it has limited mobility and range.

Barcodes vs RFID vs GPS: Pros and Cons

Barcodes remain the most common form of asset tracking technology. They are easy to use and inexpensive, but they do have some limitations. One is that they require a direct line of sight between the scanner and the barcode, so it can sometimes be challenging to read them. Another is that they have limited data capacity, and data retrieval is slow.

RFID utilizes radiofrequency to communicate information to its reader. RFID tags do not require a line of sight as the radio waves penetrate the objects containing RFID tag. They are available in different types depending on the range of the device, the volume of the data, and the application environment. They’re a bit expensive than barcode scanning, but they offer better tracking and inventory management capabilities.

GPS is a satellite-based global tracking technology that captures location data. It widely used in shipping and transportation fields to track fleets’ movement and real-time updates. They are also perfect for tracking outdoor assets like large trucks, heavy manufacturing equipment, or bulk shipments. They are expensive and limited to outdoor usage, making them less ideal for asset tracking in confined spaces.

Integration with Other Industry 4.0 Technologies

Asset tracking technology is central to various Industry 4.0 technologies. An integration with other processes opens up endless possibilities to improve efficiency within an organization. By combining different sensor data into one system, the information provides insights into how assets are utilized and can help businesses reduce waste, reduce maintenance costs, and improve planning and production.

RFID for Asset Tracking

RFID technology enables organizations to track and manage assets across their entire supply chain. Asset tracking in real-time ensures that companies have a clear picture of where their assets are and how they operate. RFID technology streamlines the monitoring of assets, reducing the chance of miscommunication or lost inventory. The data generated by the RFID system can help businesses track bills of materials, inventory levels, and performance metrics.

GPS for Asset Tracking

GPS is a powerful technology employed for asset tracking, especially in logistics and transportation. GPS provides real-time data on the distance covered, location, operational status, and speed of moving assets. This technology helps organizations to visualize their assets clearly while reducing risks, improving efficiency, and increasing productivity.

IoT for Asset Tracking

IoT is the latest asset tracking technology that enables product monitoring at a granular level. With IoT, businesses can monitor equipment and machine performance by deploying sensors that track whether routine maintenance checks are met. IoT provides easy and accessible tracking of assets with a comprehensive view of machines to track real-time data. IoT technology can give companies insights into their business process, initiate predictive maintenance checks, and prevent asset downtime.In conclusion, asset tracking is an essential component of any business that operates under Industry 4.0. This technology provides businesses with an efficient way to track and monitor assets across the supply chain, reduce the incidence of theft, cut maintenance costs, and boost production quality. Whether businesses utilize active or passive tracking, RFID, GPS, or IoT, it’s critical to select the right technology that fits into their processes’ needs.

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