The present invention provides an automated system for asset tracking and management and utilizes near field Radio Frequency IDentification (RFID) technology. RFID tags are attached to the assets, and RFID antennas (and corresponding readers) are strategically located in close proximity to read the tags. As applied to a rack or cabinet, near-field antennas are mounted along one of the mounting posts at each rack unit location such that when a piece of equipment (rack mounted or rail mounted) is installed at a particular rack unit space, the tag will be read and registered in an RFID management system. A magnetic field shaping arrangement ensures that crosstalk between adjacent rack positions is prevented. Ferrite elements are used to control the magnetic field.