Field ID has an optional field called 'Location' that is searchable through both 'Search' and 'Reporting'. It comes in two instances; Freefrom Location and Predefined Locations. Field ID support can enable this feature for you.
Freeform location allows you to simply type the location of the asset. When performing searches, adding or editing asset or performing events the location field will appear as a text box for you to enter your data into.
Predefined location is an expansion of the plain text location field that appears by default on every asset and event. This feature allows you to define a location hierarchy with as many levels as needed in the setup and allow your users to select the location they want to add to an asset or event by browsing the tree. It helps to keep spelling and structure consistent. You can also assign predefined locations to specific owners. This allows you to filter certain locations so that they will only appear when the asset or event owner match the one assigned to the location(s).