1. A location system for determining the location of a tagged item in a facility, the location system comprising: a plurality of room transmitters capable of being located throughout the facility, each room transmitter having a unique, modulated signature; at least one item tag operable to be associated with an item and having an identity, a receiver operable to receive the signatures of the room transmitters, and a transmitter to send a signal having information related to the signature of a room transmitter within the reception range of the item tag and information related to the identity of the item tag; and at least one locating receiver tuned to receive the signal of the at least one item tag and to determine the identity of the item tag and the likely location of the item tag within the facility.