Organizations face a significant challenge to track the location, quantity, condition, and maintenance of their assets. The management of assets (their selection, maintenance and inspection) determines the operational performance and profitability of organizations.
Asset Management is the art and science of making the right decisions and optimizing these processes. The Asset tracking is to track what assets a company owns, where each is located, who has it, when it was checked out, when it is due for return, when it is scheduled for maintenance, and the cost and depreciation of each asset and giving Alerts and Alarms accordingly. With the use of RFID technology, the following asset management functions can be implemented effectively.
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