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Asset tagging is important for all organizations. As they help organizations in delivering productive work. For example, in huge warehouses employees do not know where assets or inventory is kept. If you do not know its exact location, then it can be time-consuming & employees' productivity will decrease. Assets tags help retrieve the exact location of assets In this blog, we will know a few major & best practices of asset tagging but before that, it is important to know what is asset tag?? So, let us begin!
What Are Asset Tags?
Asset tags are attached to assets and inventories which an organization wants to keep track of. There can be several behind it as this asset can be expensive or it can be essential for daily operations and so on.
Asset tags are helpful in providing the real-time location of the asset. Moreover, they are helpful in identifying each asset specifically. For effective asset management assets, tags are significant.
Overall asset tags assist the organization in asset tracking, asset-related costs, tracking maintenance expenses, reducing downtime, eliminating theft, loss, or misplacement.
What Are the Best Practices for Asset Tagging?
Best practices for asset tagging are discussed below:
1. Ensuring Critical Assets Are Tagged
All essential assets must be tagged so that they can add value to the organization by providing crucial information about assets. Assets are expensive & they are vulnerable to loss or theft that is why tagging critical assets is the most basic and important asset tagging best practice.
You also must ensure while tagging assets that what is the purpose! Tags are helpful in the check-in & check-out process, and they are helpful in keeping track of assets in the same way and so on.
2. Store Essential Asset Information
Due to limited information storage, it is incredibly significant that you choose only to put information that will be helpful in the future. You can put information such as asset identification number, department, asset maintenance, location, etc.
Some organizations put organization names, some do not as you can customize tags & put organization names as in watermark style. You can store some other information in the tag.
3. Choose Asset Tag Type Carefully
There are several types of assets tags available and as per the environment, you must choose asset tag type carefully. For instance, in rainy areas, you cannot use paper-based tags which will be torn up easily.
The best option will be waterproof plastic-type tags. There are several other types of tags that are helpful in different weather such as polyester tags, aluminum tags, tamper-evident tags.
In simple words, they should be usable for the long term because substandard quality tags will be no good for your business. It is one of the important assets tagging practices.
4. Choose Suitable Asset Tagging Technology
For effective asset tracking, there are a lot of asset tracking techniques available such as:
Barcode - Barcode is a simple technology and cost-effective as well. This is a major advantage of barcodes. The disadvantage is that it needs to be scanned in a straight line otherwise it will not be scanned.
QR Code - QR (Quick Response) Code technology was first used in the automobile industry then it became quite famous and now it is one of the main asset tracking technologies.
RFID - RFID (Radio-frequency identification) has a small electronic device consisting of a chip and antenna which is why RFID tags are expensive.
These are the most used technologies. However, other technologies are expensive such as NFC (Near field communication) tags, GPS (Global positioning system), BLE (Bluetooth low energy), IoT (Internet of Things). But you must choose as per the budget and requirement.
5. Asset Tagging Must Be Done with Software
The most important asset tagging best practice is to do it with asset management software. When you use software with asset tagging the work becomes quite simple and the complexity level decreases.
Moreover, you get lots of valuable information that helps you manage your assets more efficiently and makes assets more productive.
Furthermore, this data also gives you analytics to boost asset performance and take informative decisions and just make decisions on assumptions.
Conclusion
Asset tagging is an essential part of effective asset management. To optimize asset performance, asset tagging, and asset management software are both important. This software will help you in growing your organization by making strategic decisions.
Another benefit of using asset management software is that it comes with cloud-enabled technology which means you can access it from anywhere.
Frequently Asked Questions (FAQs)
What are the benefits of asset tagging?
The benefits of asset tagging are given below:
1. Asset history, maintenance activities, utilization tracking is simplified.
2. Tags provide accurate data that helps in making strategic and informative decisions.
3. Tags are helpful in retrieving asset information quickly.
4. Asset theft & misplacement is eliminated.
5. Asset tags are helpful in delivering productive work.
What are the advantages of cloud asset management software?
The advantage of cloud asset management software is that you can access data from anywhere across the world. All you need is a good internet connection, and you can access and make changes to the workflow. It eliminates the utilization of spreadsheets that are not accurate.
Another benefit of cloud technology is data security. As they keep the data secured and provide multiple level data security. Cloud technology gives you the flexibility to work from anywhere. When you are inspecting assets, you can schedule maintenance or schedule work as per the inspection.
Does asset management software come in a mobile application?
Yes, Infizo's asset management software comes with a mobile application, and you can access its web application & webpage as well.
Can asset tags be scanned via mobile?
Yes, nowadays all smartphones come with mobile scanners of asset tags.
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