RFID asset tracking is the method of tracking and managing your physical assets (such as computers, equipment, tools, furniture, etc.) by using either a barcode or RFID tag. You can capture important information about the asset, such as the status or location, simply by scanning the asset tag. When a change is made, assets can be easily updated in a centralized catalog using a RFID asset software cloud based service, such as High Frequency RFID.
A ghost asset is a fixed asset that is on a general ledger that cannot be accounted for because it is either physically missing or deemed unusable. In a Gartner study, it is found that an average company will have anywhere from 15% - 30% of ghost assets in their inventory. The best way to eliminate ghost assets is by performing physical asset inventories on a regular schedule using fixed asset tracking software.
Every business needs to understand what assets they have purchased, where their assets are, and the status of their assets. Many businesses are constantly searching for assets or losing assets which results in wasted productivity, duplicate purchases, and unnecessary purchasing which increase costs. Your goal is to get the most out of each asset you purchase.
Barcodes require line of sight, meaning you must physically find and scan each individual barcode with your mobile device’s camera.
RFID asset tracking does not require line of sight. You can capture multiple tags at once if you are in range of the RFID tag. This is very useful when conducting inventory audits with RFID asset management tracking software. Walk into a room, scan everything in seconds, and move onto the next location. RFID scanning does require an additional piece of hardware that Bluetooth connects to your mobile device.
The best RFID asset tracking software gives you the ability to scan both RFID and barcode asset tags.
To track your fixed assets successfully, you will need three main components.
First, you need the proper RFID tag with a unique serial number to affix to the asset.
Secondly, you will need a Bluetooth handheld RFID reader that will Bluetooth connect to your mobile device, either Android or iOS.
And finally, you need the High Frequency RFID app to be able to make sense of the data you are scanning in the High Frequency RFID asset tracking software database. When taking an inventory, you will be asked to choose the site and location that you will be doing an inventory. After you scan, the RFID software will provide a quick audit with what you found, what is missing, what is misplaced, and any new assets not in the database.
