How Can Beacon Asset Tracking Help Your Business?

As business asset values skyrocket, companies have turned to digital tracking strategies that incorporate IoT, RFID, GPS tracking and much more. Bluetooth beacons are a relative newcomer to asset management that incorporates location data, real-time monitoring and analytics to reduce losses and improve operational efficiency.

Before, managing the movement and deployment of valuable assets across multiple locations to execute large-scale operations was challenging. Beacon technology now provides a reliable solution for achieving high levels of accuracy in asset tracking. For instance, beacons are useful in monitoring several valuable assets like IT equipment and industrial tools. Due to the constant flow of location data through beacon networks, these assets remain protected from theft or misuse by organizations. We’ll explore how businesses can incorporate this cost-effective solution into their asset tracking strategy.

What is beacon asset tracking?

Before understanding beacon-based asset tracking solution, it‘s necessary to learn about Bluetooth beacons. BLE beacons, also called tags or trackers, are small, battery-powered Bluetooth devices that can transmit uniquely identifiable Bluetooth Low Energy signals. These signals can be detected by smart mobile devices (eg, smartphones) or dedicated receivers (eg, gateways) within a specific range, typically 100-200 meters.

A beacon tracking solution is composed of a set of low energy beacons. Typically, beacons are attached or installed on movable assets (eg, forklifts and other types of vehicles) to provide real-time location and status information. In such cases, it’s better to choose Bluetooth beacons + gateway tracking solutions. Once the gateway collects and transfers the data to the cloud, asset location data will appear on the end application with visualized real-time data. It’s now a cost-effective location-based tracking technique.

How can businesses use beacon asset tracking

The retail business was the first to adopt beacons in proximity marketing. Now, various other industries are leveraging beacon technology to enhance efficiency, obtain valuable insights and reduce losses.

1. Manufacturing businesses use beacons to track equipment and reduce losses.

Manufacturers use beacons to monitor equipment location, such as tools, machinery, inventory and supplies, while assets move throughout the physical facility. Here are some examples:

• Personalized asset alerts: Analytics data can provide each asset’s usage frequency and movement history to help manufacturers personalize asset monitoring. For example, say a critical machine tool was frequently moved between departments but went missing. The manufacturer could use a beacon to transmit an alert when that tool moves outside designated areas.
• Track assets and prevent theft: Apart from monitoring, manufacturers can utilize beacon tracking solutions to track valuable assets and prevent theft. For example, you can set up beacon alerts when expensive equipment moves outside the designated facility area.

2. Healthcare facilities use beacons for medical equipment convenience.

Hospitals where critical care occurs, especially emergency departments, hold plenty of potential for location-based asset tracking. Consider the complex logistics medical staff may face when locating equipment like ventilators, wheelchairs and monitors for massive patient loads. The healthcare staff need to manage equipment availability, maintenance schedules, cleaning protocols, and so on.

Beacons can help streamline the entire workflow. With beacons attached to medical equipment communicating with staff mobile devices, personnel can locate items and check availability status through their app.

Apart from streamlining equipment location, hospitals can use beacons to monitor the facility environment. An integrated beacon tracking system can further enhance patient and staff safety.

For example, a large hospital in Thailand uses the MOKO M1 coin beacon to track hospital medical equipment.

3. Construction companies use beacons for equipment alerts and theft prevention.

Construction sites in major cities are an excellent deployment of beacon implementation in asset tracking. Beacons are installed on equipment so that managers receive theft alerts during off-hours, which usually involve high-risk periods.

Bluetooth tracking networks cover major construction sites, making the theft prevention coverage enormous for beacon-based monitoring. Some asset tags even integrate with GPS for wide-area tracking.

Beacons can also be used for worker management, preventing access to dangerous zones.

MOKOSmart offers various robust beacons for tracking construction tools and equipment, in IP67 and equipped with a large battery.

4. Beacons bring convenience to warehouses and logistics operations.

In logistics operations, beacon technology can boost asset visibility for warehouses and streamline inventory management. These are some potential uses:

– Alerting staff of equipment and tool location or availability

– Providing real-time tracking features to busy operations to cut down on search times

– Allowing managers to monitor forklift and equipment utilization through your app

– Enabling pallet and container tracking

An South Africa supermarket adopts our M2 asset beacon for managing warehouse cart tracking.

5. Beacons can improve schools and educational facilities.

Beacons can provide tracking of technology equipment, laboratory instruments and facility assets, showing staff where items are located in relation to their current position. They can also communicate crucial information at universities, such as directing staff to equipment with the highest availability.

6. Beacons can track event equipment and attendees.

Convention centers and trade shows are another great example of beacon implementation in the event management. Beacons are installed on high-value assets like audio equipment, lighting rigs, and display materials. Event organizers use beacons to track the real-time location of these assets throughout the venue.

A shoe company in Belgium, one of MOKO’s customers, uses beacons to collect visitor engagement metrics. They tied our M4 Lite Tag (with built-in 3-axis accelerometer) into the shoes, and each time a visitor picked up the shoe, the M4 would detect the status and gather preferences of clients. It’s an innovative way to identify the most popular shoe styles.

Key benefits of beacon technology in asset tracking

Implementing beacon technology in asset management brings a whole new level of operational control of equipment and other valuable resources. Given their location-based capabilities, beacons help managers track the most valuable assets at the right time and place. Key advantages of beacon asset tracking include the following:

• Real-time Asset Visibility: Beacon technology enhances asset visibility by providing instant location updates for tracked items. It also monitors asset movements, usage patterns, and sends timely alerts in case of unauthorized access or movement.
• Precise Indoor Location Tracking: Organizations can monitor the whereabouts and positioning of their assets, equipment, and inventory in real time through beacons. It assists managers in overseeing vast facilities that may span multiple floors or buildings. They can track the asset’s movement from one location to another without requiring physical presence.
• Inventory Management and Monitoring: When assets are tracked via beacon-connected tracking systems, it’s more efficient for staff and businesses require fewer manual inventory processes.
• Asset Security and Loss Prevention: Beacon trackers help companies quickly identify and locate missing assets through instant notifications. Geofencing capabilities enhance security by warning managers when assets move beyond designated zones, minimizing the risk of loss.
• Cost Reduction and Operational Efficiency: Companies can determine asset utilization data and indicators of operational performance. It increases profitability through optimizing asset allocation, reducing search time, and the proper use of equipment.

Do beacon trackers pose any privacy considerations

Highly targeted asset monitoring during facility operations considerably improves efficiency metrics and provides staff with enhanced operational experience. However, will this solution pose any ethical or privacy considerations?

Fortunately, asset tracking techniques, including equipment monitoring and inventory management, focus on business assets rather than personal items or personal locations. Unwanted tracking only creates staff concerns, so it’s in any manager’s best interest to follow digital privacy practices to stay compliant.

How to add BLE beacon tracking to your operations

Follow the steps below to add beacon tracking to your asset management strategy:

1. Assess your asset tracking needs: Your asset tracking requirements are vital and it varies by industry and business size. It would be better if your system is scalable and give staff access to asset information and alerts they otherwise wouldn’t have. Evaluate which assets provide the most value when tracked and prioritize those for initial implementation.
2. Choose a beacon supplier or beacon tracking solution provider: Next, choose a reliable beacon provider, such as MOKOSmart, we provide a variety of Bluetooth beacons and gateways for monitoring assets, personnel, and equipment.
3. Deploy your beacon tracking system: The next step is to define exactly how you will use beacon tracking technology. Will you track asset real-time location and movement, monitor utilization patterns, or send alerts for unauthorized movement? Use your in-house operations team to configure the system and decide when and how alerts should appear. Install the beacons and gateways and configure your requirements on the app and you are ready to reduce losses and improve asset visibility.

READ MORE ABOUT:

• What You Must Know About Asset Tracking Tags Before Purchasing
• Top 7 Real-World Use Cases for Beacon Technology Solutions
• Tagging Heavy Equipment vs Consumables: Best Practices for Asset Tracking