Market Trends

Small Asset Tracking

Small Asset Tracking
Joe Frigo
Founder & CEO
As the size and price per tracker go down, companies can start tracking an entire inventory of equipment. However; care needs to be taken, because as the number of items tracked climbs, so does the complexity of managing these devices in a system. In order to succeed in this new paradigm, small asset tracking needs to rely on advanced scheduling capabilities and workflow automation.
Small Asset Tracking

Small Assets

The market is saturated with IoT tracking devices for both fleet and large non-fleet assets such as tractors, trucks, trailers, generators, and the like. These devices are large, expensive, and transmit a wealth of data that help companies understand how their equipment is operating. However, companies aren't just made up of large expensive components.

The idea of a "small" or "low-cost" assets can be further defined as: Any piece of equipment that is critical to an organization's operations where a traditional IoT tracking device would not make sense regardless of component size, cost, or use-case. This can be for a variety of reasons:

  1. The device has a unique shape or operation where an existing IoT tracker is too large and wouldn't install correctly.
  2. The device has a low book value and the current cost of existing IoT devices are cost prohibitive due to onboard gateways and other internal components.

This is where Ribbiot comes in.

Ribbiot's sensors use Bluetooth, ultra-wideband locations, and near-field communication to update position. Using Apple's, Samsung's, Google's, and other FiRa compliant devices near your Ribbiot sensors will give the exact location of the item you are looking for and the directions to get there. This means customers don't need costly infrastructure in place to track thousands of items. It also means it is a truly deployable solution that can expand outside the yard to any jobsite.

And that's where the competition stops.

It's not enough to just track all of your equipment. The addition of thousands, if not tens of thousands, of equipment would be chaotic to track in a single platform without a platform centered around scheduling and workflows. That is why Ribbiot isn't simply a tracking platform, but helps customers schedule and interact with equipment.

It starts with organization.

Ribbiot allows a level of granularity with organizing devices that is unrivaled in the industry. With the ability to add metadata to each component, equipment can be easily sorted and analyzed. Then, we take it a step further with assemblies. Think of assemblies like a menu item and components as the ingredients. If you order food online or at a restaurant, you don't order each individual ingredient. Instead, you can create customizable assemblies and easily switch components in and out, attaching multiple assemblies and components to a job to easily interact with components regularly, with respect to time for advanced scheduling to ensure your equipment isn't double-booked or offsite when you need it.

It exceeds with workflow.

To ensure adoption across your enterprise, Ribbiot allows customizable workflows to be deployed around equipment to maintain the entire equipment utilization lifecycle. From planning to dispatching, operations to maintaining, workflows can be utilized alongside electronic document submission to remove paper processes, create enterprise transparency, and ensure operations are conducted the way they are supposed to be. Not only will this strengthen operational efficiency, but the transparency will also improve customer and insurance relations.

Tracking alone isn't enough. With the increase in items tracked, the complexity to manage and reliance on workflow is paramount.
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