The 101 on Fixed Asset Inventory Tags

By June 7, 2018Asset Tracking, Blog

Keeping up with all of your inventory can be a daunting process. It can take a lot of time and effort to enter each and every item once it comes into your place of business. But what if you could find a quick and easy way to enter inventory and assets into one central location? What if you could see the entire lifecycle of an asset from your own smartphone or tablet and pull up detailed, in real-time reports in a matter of minutes? If your company is using fixed asset inventory tags in combination with an asset tracking and management platform then you can do all this and more.

How accountable are you really?

Businesses and their employees have a greater calling more than ever to be more accountable. Accountable for the equipment they use. Accountable for the time it takes to do his/her respective job. Accountable for their contribution to the company and its bottom line. There are ways to make this easier, especially when it comes to asset and inventory tracking.

4 basic questions

Ask yourself these 4 questions when thinking about your company’s assets and inventory:

  1. Do you know what you own?
  2. Do you know where your assets are?
  3. Do you know who has them?
  4. Do you know what condition they are in?

If you can’t confidently answer, then that’s where fixed asset inventory tags come in. Used in tandem with asset tracking software that utilizes a built-in mobile barcode scanner, fixed asset inventory tags are a key component every company should have in use in order to identify and track their valuable assets and inventory necessary to the successful operation of a business.

What fixed asset inventory tags tell you

Fixed asset inventory tags can identify so much about each asset in your inventory beyond just the basic serial number. You can access information such as:

  • Comprehensive directory of all of your vital assets in inventory
  • Look up the complete history of assets
  • Track assets by vendor
  • Track inventory as it comes in/out of your business
  • Check-in/out – you know where your assets are at any time
  • Notify technicians of lease expirations
  • Schedule routine maintenance
  • No additional hardware/software needed – use the mobile devices you already carry

Fixed asset inventory tags are instrumental in preventing lost/misplaced items as well as theft. If an item is lost or misplaced, labels help identify the product should it be recovered. Of course, there is the aggravation of losing a valuable asset with theft, but there is a greater risk of a potential data breach if an item like a laptop was stolen where critical customer data is stored. Thieves may be more wary of taking an object that can be traced with an asset label.

And for items that are constantly on the go, fixed asset inventory tags always stay with its assigned piece of equipment over its lifetime. By affixing the label, it aids in equipment requests and potential users know where the equipment is, who has it and when it’s expected to return. Employees can manage their workflow more efficiently and are more aware of where the inventory is and when/how it can be utilized.

Benefits are plenty

The majority of users who implement some sort of tracking software using fixed asset inventory tags with barcode scanners see measurable results such as:

  • Significant time savings
  • No more lost items – look up assets/inventory and find their locations immediately
  • Eliminate the guesswork from repair and replacement decision-making
  • Reduced taxes
  • Savings on property insurance
  • Reduced asset losses
  • Fast audits
  • More accurate reporting
  • Store all information related to an asset in one central location

Asset Panda is the go-to when it comes to finding the right asset tracking product. Asset Panda offers users everything they need to track the entire lifecycle of every one of their vital assets. Our free mobile iOS and Android apps sync with the cloud and include a mobile barcode scanner. From the custom dashboard, custom fields and custom notifications and alerts to custom security settings, sortable columns and custom asset listing views, you have control over how your data is displayed. And the app is flexible enough to incorporate additional technologies as they become available in the future.

Click here for more details on Asset Panda and how this revolutionary asset tracking and management platform can boost your business.

 

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