Distance tracker module

Hi all
I'm working on a project that requires a robot to move towards a specific point/follow a tracker.
My question is how to do this!!
Basically I would like my arduino to know the modules position relative to it, as a vector, not just the direction.
I was considering having three beacons spread around the area, of known positions, then having them all send an ultrasound/rf signal and from the time it takes for each to reach the arduino and tracker, their positions could be calculated - a kind of local GPS.
Any ideas/thoughts welcome.
Thanks :slight_smile:

(deleted)

0.01469334978 seconds.
Scrap that - momentary increase in stupidity.
Other ideas...?

The approach is entirely feasible, but not particularly simple to implement. As a google search will reveal (for example "ultrasonic beacon positioning system"), lots of people have working prototypes.