November 20, 2011

What Are Asset Management Techniques?

By Owen Jones


How does one go about taking care of one's property - one's worldly possessions? Well, the majority of people put their money in the bank, put the jewellery in a safe and insure the rest. But insurance is not really taking care of your possessions, is it? It is taking care of yourself so that you do not have renew them with your own money.

In the old days, and even now, I suppose in some countries, you would employ a boy to watch over your sheep or cattle or bring them in at night for fear of lions, wolves or thieves. These were an early kind of security guard and indeed wealthy people had and frequently still do have private body guards.

What if you had a substantial office with a hundred laptop computers - laptops because people had to do field work too? How would you keep track on all those? A car is another good case in point and construction site machinery is being stolen all the time even from under the watchful gaze of (or with the compliance of) private security companies.

So what can you do? Get dogs? That works sometimes, but they can be poisoned. Get video cameras and passive infra-red movement sensors linked to a control centre? That works and many firms and private houses have it, but it is very expensive.

As a cheap alternative, the police were handing out free pens in the UK, which wrote in invisible ink. The idea was to put your postcode and house number. This ink became visible under a certain kind of light. That is all very well if you have a suspect or found property.

Bar codes are not practical, the pen is better. It all comes back to insurance or security.

However, there is another technique that is becoming affordable. The concept has been around for about 85 years, but it was too pricey to use on anything less significant than an airplane or a battle tank.

I am talking about radio frequency identification or RFID for short. The concept is the same one that aircraft have been using since during the Second World War - a transponder emits precoded information in response to a request from an RF reader.

Information concerning ownership and particulars of what the object is can be written to an RFID chip also called a tag and the tag can then be glued inside the item that it is to protect.

There are two varieties of tag: the passive and the active. Passive tags will only respond if information is asked for by a reader, whereas an active tag is always on.

Many entrepreneurs use RFID tagging to keep track of their assets. In the instance of livestock, most cattle are tagged these days. Most big offices have their IT devices tagged as well and we all know that clothing stores have been tagging garments for years, although maybe you did not know what that button was that they were taking off at the checkout.

Individuals are already tagging their dogs, cats and cars and it will not be long before these asset management techniques will be employed extensively at home too. Insurance companies may demand on it.




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