ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Industry Standards for Asset Tracking

Updated on July 8, 2020
tamarawilhite profile image

Tamara Wilhite is a technical writer, industrial engineer, mother of two, and published sci-fi and horror author.

What Is Asset Tracking?

Asset tracking involves the tracking of assets like servers, laptops, trucks and machinery. Asset tracking may be passively done, such as using a spreadsheet to track who was assigned which computer or recording their locations via a paper log book. Or asset tracking may be active, such as using RFID systems to track the location of every pallet in a warehouse in real time or tracking the locations of trucks in the fleet via GPS.

There are several goals of asset tracking. One goal is to track inventory real time, both in location and quantity. Another goal of asset tracking is to determine when something leaves an approved chain of ownership, such as tracking the location of an item as it leaves the store with a non-paying customer or noticing when a team leaves the worksite but leaves a generator behind by mistake.

Asset tracking is required by a variety of industry standards and even laws, depending on the item. For example, breast implants and other medical devices must be tracked in case of recall or tracking when they are linked to health problems, and hospitals track many other items of their own accord simply to minimize theft and misplaced items.

Asset tracking applies to everything from major tools to personal computers and servers.
Asset tracking applies to everything from major tools to personal computers and servers. | Source

Benefits of Asset Tracking

Asset tracking may be necessary to receive lower insurance rates. Businesses that track company cars, construction vehicles, boats, barges and industrial equipment can receive lower business insurance rates.

Asset tracking can be done using Global Positioning Satellite tracking devices, radio transponders, Radio Frequency Identification (RFID) chips or a host of other methods. Once a company agrees to asset tracking to receive lower insurance rates, removing or cheating with the devices can constitute insurance fraud.

Asset tracking can speed up the process of locating misplaced inventory and putting it back on the shelves.

What ISO Standards Apply to Asset Tracking Systems?

ISO 24730 involves the real time location systems used to track assets.

ISO 15693 is the standard for vicinity cards read at three to five feet. These cards can be used in shipping labels or employee badges.

ISO 17364 is the standard for supply chain uses of RFID for returnable transport items. RFID tags used for asset tracking must meet ISO 18000-6.

When is Asset Tracking Legally Required?

Government contracts frequently require asset tracking of materials and equipment paid for by the government. When a company is done building product for the government, they must return all parts and materials that were purchased with contract money.

Subcontractors must use asset tracking to track vehicles, manufacturing equipment, test equipment and validation and verification units supplied by the government. Asset tracking helps maintain separation between the contractor’s equipment and the government’s equipment. Asset tracking speeds up periodic inventory audits and speeds up its return at the end of the contract.

ISO standards can be contractually required by your customers. When the company agrees to meet these standards, they must implement policies and procedures in accordance with these standards.

ISO 9001 standards are voluntary unless contractually agreed to by the manufacturer or service provider. ISO 9001 suggests inventory management. This involves tracking material as it is received, assembled and shipped. However, ISO 9001 does not mandate inventory management. ISO 14000 environmental standards are also voluntary.

ISO 14000 standards require an environmental management system that tracks material used and the volume of waste produced. Asset tracking in this case can apply to pallets of material to ensure that it doesn't expire prior to use as well as making sure that material isn't accidentally discarded.


This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

Show Details
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
ClickscoThis is a data management platform studying reader behavior (Privacy Policy)