It’s really important for every company to keep a track of its assets. A company’s assets are owned by the company, so contribute to the overall value of the company. However, if you hire equipment or rent out equipment to customers there is a likelihood that you may not get that equipment back, or may get equipment returned to you which has been tampered with.
Due to the current economic conditions there are many organisations who are trying to reduce business expenses. There are quite a few ways a company can go about doing this, but one ideal way is by using asset tags to track your assets.
If you decide to use asset tags you may have to spend a little money upfront to set the system up. But when fully running, you will find that an asset tracking system can save your company thousands of pounds every year.
Asset tags are an essential tool to keep track of any inventory or stock you may have. The tags come in many forms but are essentiality a way of identifying the difference between items you own or stock you have. They are usually fastened onto the items either using an adhesive or are fixed to an item using a plastic tie.
Their use by private companies
Stock taking is the process by which you can verify the quantity and condition of your assets or stock within the business. This may need to be completed as an audit of current stock valuation or to provide valuable information relating to stock levels and possible discrepancies.
Despite its obvious benefits to an organisation, performing a complete stock take can be a time consuming and consequently costly exercise for any business. It may be performed as an annual intensive review, or an ongoing process.
It doesn’t matter if you are a large company or an independent small to medium enterprise (SME), if you use asset tracking technology you can easily keep track of all the items you own.
Introducing asset tags
Asset tags are a type of label which is generally made from either paper, plastic, polyester or aluminium. The tags are a way of identifying a product or labelling a piece if equipment. You can even add your company name on an asset tag to improve company branding. Asset tags can also be weather proof and highly durable, so the information on the tag is always readable.
Many people have started to tag the products they own to keep them organised and safe from theft. Asset tagging has been happening for years in business establishments as a way of tracking inventory and stock items. However, the way this was done in the past led to items still going missing and lots of time being taken up.
Asset labels are being used with increasing regularity in business, as many companies realise their importance. Asset labels and asset tags let you identify individual products quickly and easily. The barcodes on the labels can be read by a barcode scanner and the numbering on the labels can be referenced against a database so you can see the condition and location of any asset when needed.
Asset labels prevent theft
If you are the manager of a business, you will know that your business will hold many assets. These assets might be things such as computer equipment, desks, machinery or even tools. It’s your company assets which makes your company tick, so without them your company may struggle to function. Because of this, many businesses want to know where their assets are and how much money they have tied up in their assets.
There are a huge variety of barcode labels and asset tag solutions currently available to the general user. And whilst the majority of these vary in size and design there are a few other things which can determine the usability of the label in question. Things such as the durability of the label, the material the label is made from and the tamper-proof qualities the label has can really make the difference between the label being used in one environment and not in another.
Barcodes don’t have to be printed onto a product when it is manufactured, they can also be printed on labels which can be stuck onto a product at a later date. The black lines that you see on a barcode label are converted into alphanumeric data when read by a barcode scanner.