Abstract: A real time asset tracking system and method is described including a plurality of mobile units (e.g., fobs) which are capable of communication with a network. The plurality of mobile units being configured to determine the presence of a contact event, e.g., when a first mobile unit is within a predetermined distance from a second mobile unit for a predetermined amount of time. If the first mobile unit is in a contact event, then the first mobile unit may be configured to alert the user (visual, vibration, sound) and report the contact event data to the server.