Automated NFC-Based System for Management and Tracking of Assets in sharing Economy

Physical Assets management is a critical issue for any business or organization and tracking those assets can be one of the most time-consuming tasks of the entire workday. Asset management and tracking tools can simplify the work and make it more efficient and more productive. In this paper, we present a smart way to manage and track the keys of assets by developing an automated system that combines hardware with software. It is customary to have a dedicated person within the institution to manage borrowing process of assets. The problems related to borrowing could be losses, destruction or theft. Such problems might cause disturbance for the institution and this issue motivated us to find a solution by developing a system that aims for asset protection and tracking. Using near field communication technology (NFC), our solution answers the question whether the asset is available or someone borrowed it. For an asset, the system informs us whether it has been returned back on time or not. We designed an electronic circuit combined with NFC tags to discover the presence of keys of assets. The system is not restricted to educational institutions or hospitals rather, this solution is suitable for business owners. An example could be the hotel industry where it can be used to facilitate the process of giving the guest the room’s key in a safe and simple way. Another example is in the field of car rental, which needs to be tracked and protected periodically. In general, it has a potential in sharing economy resources.