But broadly speaking, the term describes the processes and systems used to track an organization’s physical assets. As a result, there is improved efficiency as well as the added benefits of increased revenue and profitability.Īn asset tracking definition can vary depending on what products and services companies offer and how they operate. Efficient tracking techniques ensure maximum oversight and minimal asset losses. Asset tracking is just as important as inventory tracking because it allows fleet managers to monitor the location, status, and maintenance schedules of their vehicles and equipment. Inventory refers specifically to items that are intended for sale or distribution.
#Fixed asset tracking software in automobile industry software
Intangible assets are nonphysical resources like software licenses, trademarks, operator licenses, and contracts.Īssets are often confused with inventory, but their definitions are different. Fixed assets (also referred to as tangible assets) include vehicles, computers, tablets, and dashboard cameras. Asset tracking can also help optimize the utilization of vehicles by helping spread out workloads to prevent vehicles from being overused and racking up high maintenance costs.Īssets are company resources that hold an economic value and can be described as either fixed or intangible. In fleet management, asset tracking can help prevent theft and loss of equipment because fleet managers can monitor where their assets are in real-time.
Asset tracking is a method used by companies to locate physical assets like vehicles, products, equipment, and more.
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