The Benefits of Asset Tracking Labels and Tags
Asset tracking labels, along with tags and asset tracking software, can assist businesses of all sizes to better manage and monitor assets.
What are Asset Tracking Labels and Tags?
An asset tag is a unique identifier, such as a serial number or barcode, that relates to a particular asset. Whereas an asset tracking label is simply a self-adhesive label containing the unique asset tracking identifier, making it ready for sticking onto whatever asset it relates to.
From a visual perspective, asset tracking labels can be customised so that they tie in with a company’s branding.
They can contain logos, colours, and fonts, for instance.
Asset tracking labels are commonly used with scanning devices and asset tracking technology, which provides a centralised directory of asset information. Tracking technology can include RFID, GPS, WIFI and Bluetooth.
An asset directory might include real-time data on geographical locations, whether it’s available for use and the current stock levels of that particular item.
But, depending on what you need to track, it may also include performance monitoring and work history. As well as an asset’s purchase price and current value.
Whereas manual asset tracking systems, such as spreadsheets, can leave room for human error; asset tracking software doesn’t. Instead, it can automate various processes and eliminate the need for manual data entry.
How Durable and Effective are Asset Tracking Labels?
Generally speaking, asset tracking labels usually hardwearing and made to last. They can also be available in a range of various materials. For example, foil labels, which are often used both outdoors and indoors for IT equipment or machinery.
The graphics are sealed below the top layer of the label so that they can withstand harsh environments, rough handling, and even some chemicals.
With high-value assets, it’s best to use tamper-evident labels. These help to prevent theft, as it can be easy to tell when they’ve been interfered with.
For example, some tamper-evident labels break apart while others leave behind telltale letterings, such as the word ‘VOID’, upon being peeled away.
Another label material often used is polyester. A polyester asset tracking label is sometimes used for office furniture and fixtures. It has a transparent polyester film overlay for protection against spillages from water, cleaning fluids, and mild chemicals.
6 Benefits of Using Asset Tracking Labels in Business
Asset tracking solutions, such as labels and software, are already used in a wide range of industries, from manufacturing and warehousing through to healthcare and education.
If a business has any type of assets that need tracking and monitoring, it’s worth considering asset tracking software.
There are a vast array of benefits when it comes to implementing an asset tracking system, including:
1. Geographical asset monitoring.
Businesses can use asset tracking to gain a better understanding of physical assets, even when they’re on the move.
Asset tracking labels will help to monitor where and how each piece of equipment is being used.
2. Asset availability and performance monitoring.
Perhaps a business has multiple laptops, printers, AV equipment, and mobile devices within an organisation. Asset tracking tags could be assigned to each one.
This would help to identify which assets are currently usable, which employees have access to them, and where assets are located in real-time.
3. Maintenance scheduling.
Machinery and plant assets may require routine inspections or need maintenance work done to them from to time.
Some asset tracking solutions include features to schedule preventative or reactive maintenance work and thus provide a record of any action or servicing carried out.
4. Inventory control.
Knowing where assets are at all times helps to avoid unnecessary reordering and wastage. In the case of consumable supplies or spare parts, asset tracking software can alert an asset manager when stock levels are running low.
5. Better asset protection.
Another benefit of asset tracking software and labels is that it helps to reduce the chances of loss or theft.
Valuable equipment that is asset tagged can be easily tracked.
6. Helps eliminate ghost assets
Ghost assets appear when an asset is rendered unusable or no longer existing, yet it remains in your asset register. This can happen when assets are upgraded, broken, lost, or sold.
Asset tracking labels and software helps to identify ghost assets, so you can avoid including in your asset register. In turn, you can avoid unnecessary taxes and insurance premiums.
Finding the Right Software
Asset tracking is a valuable resource for any company, big or small. Implementing an asset tracking system is, of course, an investment.
However, it could save your business money in the long term while increasing the efficiency of your day-to-day operations.
So, the next thing to do is to compare and shortlist the right asset tracking software for your business needs with our free questionnaire.