A method for tracking an object includes associating a beacon with a responder; transmitting a polling signal from the beacon to the responder; receiving a response from the responder; entering a low power state on the beacon for a predetermined duration; and transmitting an alert from the beacon responsive to a subsequent signal from the beacon failing to result in receiving a subsequent response from the responder. Embodiments also include a system in which the beacon and responder are configured to perform the described functions. In various embodiments, the duration during which the beacon remains in the low power state is predetermined based either on a default factory setting or a user adjustable setting.