Asset Tracking
Asset tracking is the process of monitoring the location, status, custody, and condition of physical assets throughout their lifecycle. It combines identification technologies (QR codes, barcodes, RFID, GPS) with software to maintain a real-time or near-real-time record of where assets are and who is responsible for them. Asset tracking applies to tools, equipment, plant, fleet, IT hardware, and any other tangible items of value.
Why it matters
Organisations that lack asset tracking suffer from lost and stolen equipment, duplicate purchases, underutilised assets, and an inability to locate items when they are needed. Effective tracking reduces capital expenditure by improving utilisation of existing assets, prevents theft, and supports compliance by proving that the right equipment was available and maintained at the right time.
How MapTrack helps
MapTrack provides end-to-end asset tracking using QR codes, barcodes, GPS, and integrations with IoT devices, giving teams a single source of truth for every asset’s location and status.
Frequently asked questions
What are the main methods of asset tracking?
The most common methods are QR codes and barcodes (scanned with a smartphone), GPS trackers (for real-time location of vehicles and high-value mobile assets), RFID tags (for hands-free scanning at checkpoints), and Bluetooth beacons (for indoor proximity tracking). Most organisations use a combination based on asset value, mobility, and tracking requirements.
What types of assets should be tracked?
Any asset with meaningful financial value, safety significance, or operational importance should be tracked. This includes major plant and equipment, vehicles, powered tools, safety-critical items, test and measurement instruments, and hired or rented equipment. The tracking method should be proportionate to the asset’s value and risk profile.
Related terms
QR Code Tracking
QR code tracking uses Quick Response (QR) codes affixed to assets that can be scanned with a standard smartphone camera to retrieve or update asset information. Each QR code links to a unique digital record containing the asset’s identity, location history, service records, and compliance status. QR codes are durable, inexpensive, and do not require specialised scanning hardware.
Barcode Tracking
Barcode tracking uses printed barcodes (typically Code 128, Code 39, or similar linear formats) attached to assets to enable identification and data retrieval through scanning. When scanned, the barcode links to the asset’s digital record in the tracking system. Barcodes have been the standard identification method for inventory and assets for decades and are widely supported across industries.
GPS Tracking
GPS (Global Positioning System) tracking uses satellite signals to determine and record the real-time geographic location of assets, vehicles, or equipment fitted with GPS receivers. Tracking data is transmitted to a central platform via cellular or satellite networks, providing continuous visibility of asset movements, routes, and dwell times. GPS tracking is fundamental to fleet management and high-value mobile asset monitoring.
RFID Tracking
RFID (Radio-Frequency Identification) tracking uses electromagnetic fields to automatically identify and track tags attached to assets. Passive RFID tags are powered by the reader’s signal and work at short range, while active RFID tags have their own power source and can transmit over longer distances. RFID enables hands-free, multi-item scanning without requiring line-of-sight to each tag.
Asset Register
An asset register is a comprehensive database or record of all physical assets owned, leased, or managed by an organisation. Each entry typically includes the asset’s unique identifier, description, category, serial number, purchase date, cost, location, assigned custodian, warranty details, and current condition. The asset register serves as the single source of truth for what the organisation owns and where it is.
See how MapTrack handles asset tracking