Effective Guide On Asset Tracking for Small Business

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Every business has certain assets that are required for day to day tasks. Without these assets, business around the world cannot function. Therefore, businesses need efficient IT asset management, and for it, asset tracking is primarily an effective method to manage and track physical assets. You can know the status, location, maintenance schedule, and other information related to your business’ physical assets. Issues like missing equipment and improperly maintained equipment during emergencies can be avoided. Not to mention, lower administration is another advantage. Track missing equipment or equipment that has reached the end of their maintenance cycle can also be accessed with asset tracking methods.

Assets Tracking System

There are numerous ways for effective IT asset management. One of which is asset tracking through barcodes, serial numbers, lot numbers, revision numbers and more. Asset tags are attached to each piece of the equipment for the tracking system. RFID and GPS can also be used to ensure physical assets are in their respective place.

Asset tags help to monitor assets as they move through the organisation and provide automated data collection about asset utilisation, documentation, maintenance, and repair tracking. It can also be used for loss or theft prevention as it ensures your office equipment does not leave the office premises. Asset tags are a safeguard against the loss for the departments who share the equipment amongst each other.

There are numerous types of asset tags designed to be durable and for preventing theft. Options include metal asset tags, tamper-evident tags, barcode labels, foil asset tags. These tags when connected with all the necessary details; description, purchase date, lifecycle end date and more, helps in the management of the physical assets. The tag when scanned, the details of a particular product are easily accessible.

Asset Tagging Benefits

Whichever tracking system you choose, your organisation will gain a lot of benefits. Some of them are:

  • Improve cut costs
  • Inventory management
  • Locate assets in real-time
  • Improved asset utilization
  • Lower asset loss
  • Lower administrative costs
  • Identify which items are where, allowing you to create a better structure for your physical system
  • Scale your asset tracking as company growth dictates

How To Set-up Asset Tracking

Before you choose the best asset tracking solution, consider the requirements and needs for your business. Choose a software solution that caters to your needs and ensure your goals can be achieved through implementing the software. Setting up the asset tracking system will require you to create an inventory and then attach the inventory tags. Connect it with all the necessary information that you want to see on the tags, along with current status and location. After the complete set-up, track your physical assets as you get asset tags.

Attaching and tracking tags on every asset might be a headache at the beginning, but as your business keeps growing, the benefits become even more rewarding.