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A popular approach to tracking fixed assets uses serial numbered asset tags, which are labels often with bar codes for easy and accurate reading. The owner of the assets can take inventory with a mobile bar code reader and then produce a report. Off-the-shelf software packages for fixed asset management are marketed to businesses small and large.
When a product is in a warehouse or store, it can be tracked via its barcode and/or other tracking criteria, such as serial number, lot number or revision number.Systems for Business, Encyclopedia of Business, 2nd ed. Nowadays, inventory management software often utilizes barcode, radio-frequency identification (RFID), and/or wireless tracking technology.
More sophisticated mobile asset management companies use the most advanced means of tracking assets available today, such as radio-frequency identification. RFID automatically captures data on each individual container and can indicate container contents without ever having to open the container.
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Inventory management is a broader term pertaining to the regulation of all inventory aspects, from what is already present in the warehouse to how the inventory arrived and where the product's final destination will be. [2] This management involves tracking field inventory throughout the supply chain, from sourcing to order fulfilment.
Asset tracking apps for smart devices had been used as a means of personal tracking and rescues. For example, Find My iPhone is an app and service provided by Apple; it was used in rescuing a missing person in deep ravine from a car accident [ 3 ] after other attempts failed.
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