the present disclosure relates to an asset tracking system for tracking assets configured to be rack mounted in at least one of a plurality of shelf locations of an equipment rack . the system may have a plurality of radio frequency identification tags each secured to a separate asset and encoded with information concerning the asset to which it is secured . a plurality of antennas may each be secured adjacent to specific shelf locations . this uniquely associates each antenna with at least one specific shelf location . a subsystem selectively obtains information from the antennas , one by one , to determine when assets are positioned in specific ones of the shelf locations . the rfid tags may also supply information on an identity of each asset present in each shelf location .