Asset Tracking Sensors
As technology has improved in recent years, asset tracking has become a crucial part of any global supply chain strategy. Internet of Things (IoT) technology has made it easy for companies to track exactly where shipments are and what condition they are in with the help of a sensor.
Asset tracking offers a range of unique benefits for your organization. At Unilog, we help our clients implement a comprehensive tracking system using our Logivice technology, which allows them to monitor shipments all over the world. In this article, we’ll talk about how asset tracking sensors work and why they should be a part of your supply chain strategy.
What are asset tracking sensors and how do they work?
The Internet of Things is a network of interconnected devices that use the internet to share data. Asset tracking sensors leverage the IoT to collect and share data automatically as your products move through the supply chain.
These sensors are attached to your products in the warehouse. As they move through your distribution network, IoT-equipped devices register the location of the sensors. This data is then aggregated in a software program, which allows supply chain managers to view all of their shipments in one place.
There are a few different ways to approach asset tracking. In some cases, shipments will need to be scanned at specific checkpoints. Other asset tracking systems use zone-based tracking. This will register when a product is in a specific ‘zone’ in your supply chain.
The most accurate forms of asset tracking use either GPS trackers or RFID trackers. GPS trackers provide highly accurate location data in real time using a network of satellites. This strategy is most popular for high-value assets, as it is costly to implement.
RFID tracking uses radio frequencies to track the location of your asset. RFID sensors are placed in warehouses and at key points throughout your supply chain. Each product or shipment contains an RFID tag. The sensors use radio waves to communicate with the RFID tags, typically via a scanner. This approach is very effective for transporting large volumes of product.
Benefits of asset tracking sensors for supply chain management
There are many benefits of using asset trackers as part of your supply chain strategy. In addition to helping your business run more smoothly, asset tracking also creates a better experience for your customers.
Asset tracking sensors reduce costs in many ways across your supply chain. First, asset tracking can help businesses minimize lost, stolen, or spoiled items, therefore reducing the costs associated with lost inventory.
Additionally, asset trackers can help reduce labor costs across your supply chain. Your team will spend less time overseeing and tracking down shipments manually. Asset trackers also provide invaluable real-time data that you can use to make your supply chain more efficient, which reduces costs even further.
Asset tracking sensors give you better control and visibility of all your shipments worldwide. This helps you reduce the number of lost or stolen items across your supply chain by providing increased security. Many types of sensors will even send out automatic alerts about your shipment’s location, so you’ll know right away if your products are in an abnormal location.
Fewer expired items
If your organization works with food or biomedical products, you know just how important it is to get shipments to their final destination before their expiration date. By tracking your items, you can take steps to ensure that your products are stored properly and that they make it to their destination in time.
Improved customer satisfaction
Today’s customers have very high expectations when it comes to delivery times. By using asset tracking sensors, you can offer faster delivery times to customers, therefore improving your customer satisfaction and loyalty. Additionally, your asset trackers will enable you to provide more accurate delivery information for your customers, reducing confusion.
Better regulatory compliance
There are various compliance standards that you’ll have to adhere to across your supply chain depending on your industry and location. Asset tracking sensors will give you detailed information about your products and shipments as they move across the world. This makes it much easier to prove regulatory compliance if necessary.
More supply chain transparency
Prior to the development of IoT asset tracking, it was very difficult to monitor shipments between warehouses and their final destinations. Asset tracking sensors provide full transparency for the entire supply chain. Employees can log on and see all of their tracking information in one place, rather than having to spend extra time and energy chasing down shipment information.
Efficient inventory management
Asset tracking sensors don’t just track shipments once they’re put out for delivery. You can also use them to track your products in the warehouse for inventory management purposes. Asset tracking sensors provide data that you can use to determine exactly how much product you have and when you need to order more product. You can then compare this information to your supply and demand metrics to develop a more sophisticated inventory management strategy.
Provides valuable real-time information
Developing a reliable supply chain strategy is an ongoing process. Global trends and events can change the way the supply chain works, and organizations will need to adapt. Asset tracking provides highly valuable information about your shipments in real time. You can use this information to identify problem areas and develop more efficient supply chain solutions.
At Unilog, we help our clients develop comprehensive global supply chain solutions. One aspect of that is implementing asset tracking sensors and using our Logivice software to aggregate data. This gives clients the ability to access all of their location data in one place.
As a 4PL provider, we work with a network of shipping partners to help our clients develop the most efficient shipping solutions possible. In particular, we provide supply chain solutions for clients with sensitive or high-value products that require innovative shipping networks. If you’re in need of custom supply chain management, contact us today to learn more about our services.