This paper introduces an innovative asset-tracking system driven by the Internet of Things (IoT), revolutionizing the landscape of asset management through the seamless integration of advanced hardware and software elements. Central to this system is the ESP32 microcontroller, serving as the orchestrator of a sophisticated ecosystem. Indoor asset tracking leverages Radio Frequency Identification (RFID) technology, utilizing RFID tags for accurate asset identification and localization within indoor environments. Conversely, outdoor tracking exploits the Global Positioning System (GPS) module, ensuring precise asset positioning even beyond facility confines. Real-time updates of asset locations are seamlessly transmitted to cloud storage through WiFi communication, ensuring up-to-date and accessible data. The intuitive Blynk smart application interface facilitates user interaction. The system's reliability and accuracy are assessed through two scenarios: indoor and outdoor experiments, each conducted 50 times over an hour. The findings reveal an 80% reliability rate for indoor tracking and 70% for outdoor tracking. Notably, the developed system exhibits impressive reliability in both indoor and outdoor contexts, with the lower reliability of outdoor tracking attributed to the GPS module's sensitivity to obstacles. The fusion of these technologies signifies a transformative shift in asset management, characterized by exceptional dependability and precision, poised to redefine practices across various industries.