asset tracking is the act of compiling information about an organization’s physical assets, such as location, status, condition, who is using what, when, and where, calibration and maintenance schedules, and requirements for new or upgraded equipment. Physical assets can include heavy machinery and equipment, vehicles, tools, and IT devices, among other things. The goal of asset tracking is to improve business efficiencies and save time and money. Assets are tracked using asset-tracking software or by a mobile app with scannable asset tags.
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