How Asset Tagging Systems Streamline Business Operations

Running any bricks and mortar business successfully inevitably requires a process to keep track of physical assets. What began as a series of logbooks and spreadsheets has now been simplified by technology. It doesn’t matter whether you run a hospital, higher-education facility or a manufacturing plant, managing all the associated tools, equipment and resources can be a complicated endeavour. Enter asset tagging, a tech solution that helps businesses keep track of their assets in real time. Asset tagging system, is a game changer, whether you’re trying to cut down on lost items, minimize downtime or just make operations a bit more efficient. To dig deeper let’s break it down: what is asset tagging, what type of technologies are involved and why every business should be thinking about it.

What Are Asset Tagging Systems?

Asset tagging systems help businesses easily label and track their assets, providing an organized way to manage equipment, resources and other valuable items. Businesses can attach these small devices, known as tags, to just about anything — hospital equipment or factory machinery — and boom you can track those items on your premises in real time. Knowing where things are and how they’re doing can save businesses a ton of time and energy. Constant updates on the location and status of your assets make operations go smoother, downtime shorter and your business just runs better all around.

Asset tagging isn’t just an additional feature, especially for businesses with lots of equipment or expensive or time-critical gear, it is a necessity. Look at the numbers: In 2023 alone, the global asset tracking market reached $21.25 billion and it is predicted to almost triple by 2032, expanding at over 12 percent annually. It’s a sign of how asset tagging has become essential as businesses rely more on data to do better and keep their valuable assets safe.

Different Types of Asset Tracking Technologies

Not all asset tags are the same. Each asset tagging and tracking system has pros, cons and capabilities. So, let’s look at a few of the main types of asset tags, starting with one of the most advanced options out there:

1. Mapsted Tags

Put simply, Mapsted’s indoor Tag series is cutting-edge asset-tracking technology you can get for your business. What makes this series stand out? Accuracy with minimal hardware required. Precision tracking within 1-5 metres. Plus, they’re scalable. These work as your business grows, you don’t have to reinvent the wheel with a ton of new infrastructure. That’s why they’re perfect for companies that are expanding but don’t want to deal with a bulky setup. These tags also have the longest battery life on the market. Feel secure knowing that Mapsted tracks your assets, easily viewable on a user-friendly dashboard.

2. Radio Frequency Identification (RFID)

Manufacturing and warehousing industries are known to use RFID tags as equipment tagging systems. RFID systems work if your business works with large-scale operations. The catch is that they need a lot more infrastructure and hardware to run, and operations implementing this technology can get complicated and expensive.

3. GPS Tags

GPS tags work well for long-distance tracking. They’re used to track vehicles or equipment that are always in motion. They’re great for keeping an eye on things from afar, but they aren’t cheap and their accuracy indoors is not reliable. GPS tags are also fairly power-hungry, so they aren’t great if you need something that lasts longer and is primarily only for indoor tracking.

Let’s dive deep into asset tracking the Mapsted way and figure out how it can transform your business.

Mapsted Asset Tag Types and Applications 

1. Mapsted Tag – Compact

Meet Tag – Compact, your reliable everyday asset tracker. Designed to be small and sleek, its size doesn’t get in the way of performance and it has a long battery life so you don’t have to worry about constantly replacing it. It’s perfect for tracking smaller tools and equipment that often get lost in busy environments. The best part? It’s so sleek that people will never notice it’s there, so it won’t get in the way of your operations.

Application: For use in a corporate setting, you can apply Tag – Compact to, for example, laptops, phones, monitors and other personal devices. It’s discreet and can fit into any fast-paced workspace.

2. Mapsted Tag – Mini

Built for tougher conditions, Tag – Mini. Super durable, it’s compact and is great for industries where things can get rough. It handles dust, moisture and other environmental challenges perfectly, making it ideal for an industrial warehouse or hospital. It has a long battery life, so you can rely on it without constant maintenance, it functions for up to four years on an easy-to-replace CR2477 battery.

Application: The Mini Tag is perfect for keeping track of medical equipment in hospitals. No more time wasting searching for tools when your staff needs to care for patients. It’s also a nice choice for workshops where gear is constantly moving around and durability plays a big role.

3. Mapsted Tag – Supreme

Tag – Supreme is built for extreme environments. This tag can take what you throw at it whether you’re working in extreme weather, in heavy industrial settings or anywhere that requires ruggedness. It’s built to last, has a battery life of up to eight years and is completely waterproof. Tag – Supreme is great for high-value assets you can’t afford not to be watching.

Application: This tag is a great fit if your business involves a construction site or managing a massive manufacturing plant. It watches over expensive machinery, even in rough conditions, so workers can concentrate on getting the job done.

Benefits of Asset Tagging for Business

Asset tagging solutions are a total game changer for businesses across most industries. It makes your business more efficient and the perks are way more than just knowing where things are. Here are some reasons why investing in an asset tag tracking system is a no-brainer:

1. Shorter Operational Cycles

Is your workforce devoting their precious working hours looking for misplaced equipment? If yes, asset tagging is essential to your business. Whether you run a hospital, factory or corporate office, tracking your assets in real time equals no delays from lost or misplaced tools. For instance, hospitals can locate vital equipment such as ventilators or diagnostic tools quickly to expedite patient care and minimize wasted time.

2. Improved Efficiency

In business, efficiency is everything. If your team knows where to find the tools and equipment they need, you don’t have bottlenecks and everything runs smoothly. For example, nurses in the US lose around 6,000 hours every month looking for medical equipment. With asset tagging, that wasted time is eliminated, allowing staff to focus on what matters most: patient care.

3. Less Asset Loss and Theft

Does your business have recurring instances of losing expensive equipment or dealing with theft? It’s a nightmare for any kind of business. Asset tagging means you always know where your high-value items are so that there’s a clear picture of what the company has and where, whether it’s construction equipment, medical gear or IT assets.

4. Better Asset Utilization

Asset tagging or inventory tracking tags aren’t just about knowing where things are—it’s about knowing how they are being used. It will tell you which tools are being used the most and which are being used the least. It helps you deploy your assets more effectively and makes sure you’re using everything to its full potential.

5. Cost Savings

Asset tagging saves you money in the long run. This helps you save on replacement costs because you avoid lost or stolen items. It also reduces the downtime due to missing equipment that can slow down your operations. By tracking how your assets are being used, you can in turn extend their lifespan, saving you long-term capital costs.

Why Mapsted Tags Are the Smart Choice

When you’re looking at asset tagging, Mapsted steps up for a few reasons:

• Minimal Hardware Needed: While most traditional asset tracking setups involve lots of bulky equipment, Mapsted’s Tags cut all that down. With no need for extra gear, they provide a much simpler solution that makes the whole setup process faster and less expensive on your wallet.
• Easily Scalable: Mapsted’s system grows with you as your business grows. That’s designed to scale without a huge overhaul of your infrastructure. Expanding? No problem. Whether you’re starting a new wing in a hospital or scaling operations in a factory, adding more tags is effortless. No headaches.
• Market’s Longest Battery Life: This is a big one. Mapsted Tags are famous for their extreme battery life. No matter which Compact, Mini or Supreme Tags you’re using, you won’t need to worry about changing batteries for a long time. In fact, these can be run for years without having to swap a battery, saving you time and hassle in the maintenance department. You can rest assured your operations will keep on running without interruption.

Now, Where Can You Use Mapsted Tags?

• Manufacturing and Warehousing: Track tools, machinery and inventory facility-wide. With Mapsted Tags, you can be ensured that everything is in the right place at the right time, so it doesn’t delay production and keep the process moving.

• Corporate Offices: With a lot of laptops, projectors and other shared devices roaming about your office, managing office equipment can be tricky. Using Mapsted Tags, you can track these valuable assets, reduce losses and ensure everything is available when it’s needed.
• Retail and Hospitality: Retail and hospitality businesses use real-time asset tracking to stay on top of equipment inventory and improve customer service.
• Transportation and Logistics: Whether you are managing on-site vehicles, containers or delivery equipment, Mapsted Tags provide a low-cost and reliable solution to stay updated with what keeps things moving.
• Education: Mapsted Tags can also be used in schools and universities to track educational tools and maintenance equipment to ensure that they are in the right place and well maintained.
• Healthcare and Hospitals: In healthcare, there is nothing more important than having critical medical equipment on hand. Using Mapsted Tags to monitor related equipment such as IV pumps, monitors and diagnostic equipment makes it easier to locate the equipment, improve patient care and ensure availability of some critical equipment.

Wrapping It Up

Asset tagging is essential to help your business run better, reduce losses and keep everything moving smoothly. Mapsted’s Tags are truly unique in that they only require minimal hardware, are unbeatable in scalability and have an incredible battery life that lasts longer than anything else available. At Mapsted, we help you track your assets whether you’re running a hospital, factory or corporate office. If you are ready to get a handle on your assets, Mapsted is the name to remember.

If you found this blog helpful, don’t miss our blog post on Mapsted Tags vs Bluetooth Asset Tracking Tags or watch our video on Discover Mapsted’s New IoT Division to learn more.