With GPS and wireless technologies, companies have more tools at their disposal to manage assets effectively regardless of how big those assets might be or how far they may be scattered around the globe. Remote monitoring of assets is possible through the use of these technologies. However, there is need to be careful about maximizing the benefits of technology. Even though all suppliers speak the same language, different capabilities can be achieved with a combination of vendors. For example, when companies have a need to not only track assets in transit but to manage those assets as well, companies need to work with both RFID (radio frequency identification) and GPS technologies. But working with a GPS vendor for fleet tracking and then working with a separate vendor that offers RFID may lead companies to a solution that is considerably more costly and therefore defeat the purpose of maximizing asset management technology in the first place.
Source: Integrated Solutions