Tracking is a form of deterrence required to achieve physical security. When talking about assets, a business needs to employ a tracking system to help prevent losses. If not monitored, losses can balloon up until the business suffers a sudden plummet in revenue.
Asset is a broad term used when referring to someone’s possession or property behind debts and other responsibilities. In retail, the products being sold and the tools used are considered asset. In construction, asset may refer to the equipment such as the crane, drills, welding machine, etc. It may also pertain to financial matters, including investments and revenues. Computer software and application are also considered as forms of asset since they have considerable value not only for the owner but also for others who might have use for it.
In recent decades, barcode systems are often a costeffective and one of the most widely used asset tracking system today. It’s a data capture technology that enhances processes in almost every industry and market. Bar code system still gains the trust of businessmen in different industries around the world. It utilizes radio frequency identification (RFID), a technology that reads and transfers data through radio waves. The bar codes contain significant data about a specific unit of product used during a transaction.
For large assets such as vehicles and other live loads, an asset tracking system based on global positioning system (GPS) provides a great deal of physical security. This is often used in the automobile industry, specifically car rental and auto financing. Car dealers can use the GPSreliant tracking system to track the location of the vehicle sold through financing option in case of default payment.
Sometimes, a customer intentionally or unintentionally sneaks out a product from the store without letting it pass through the bar code system. However, a device set up at the entrance or exit automatically scans the RFID tag of the stolen product and alarms the immediate security guard. Barcode asset tracking systems characteristically save companies money while improving quality, ontime performance, and other key business factors.