Barcode Management Software: An All-in-One Solution for Asset, Inventory Management

By December 28, 2018Asset Tracking, Blog, Use Case

Barcode Management Software: An All-in-One Solution for Asset, Inventory ManagementBarcode management software allows companies to carefully track and monitor the whereabouts and condition of their vital fixed assets and inventory.  Using barcode management hardware, you can scan an item’s barcode, which is then processed by the software. The data attached to the asset then appears on a barcode scanner screen, smartphone or tablet. The efficiencies of barcode management software immediately become obvious when you consider that, without such software, you have to manually key in the serial numbers for your fixed assets and inventory. Typing in each of those serial numbers almost assures that you’ll have a typo in your records, which then results in frustration and the inability to track down vital assets and inventory when you need them. With barcode management software, you enjoy much greater accuracy.

Asset tracking

With respect to asset tracking, it’s easier than ever to order durable asset tags that affix to your assets. Once you scan a barcode and your data appears, you then can determine the exact location and condition of an item, plus its complete maintenance history, insurance policy, lease/purchase information, warranty information, depreciation, check-in/check-out status, maintenance schedule, and so much more. You’re able to create work orders, customized reports, determine where assets are needed and where they’re sitting idle, and establish equipment refresh schedules based on real-time data.

Inventory management

With respect to inventory management, once you’ve scanned your barcode, you then have instant access to such details as your current inventory levels, the exact location of items, their respective values, delivery timelines, receiving, and the condition of those items. You can better plan for seasonal variations and avoid carrying either too much or too little inventory. And you can determine where there are shortages and surpluses and make the necessary adjustments.

Far too often, companies and organizations suffer from a communication vacuum. Items fall through the cracks, are lost and unreported. Employees spin their wheels trying to track down assets and inventory. In the most egregious examples of waste, companies may be paying insurance for ghost assets, or assets they don’t have in their inventory anymore but which haven’t been reported as missing.

In addition to time savings, the additional benefits of barcode management software are numerous. More efficient operations result when you’re not forgetting the routine maintenance your equipment often requires. Machines aren’t breaking down, causing production to stall and morale to dip. You’re also able to maximize the lifespans of those machines and plan your budget for their replacement. Customer service is everything – especially given the power of online peer recommendations — so it’s vital to ensure that you not only always have what your customers need, it’s also in perfect condition. From a compliance standpoint, barcode management software is a safeguard for your accuracy, so you have the peace of mind that comes from knowing you’re providing your accounting and compliance teams with correct figures.

Finally, with barcode management software, you become a more agile company, better able to anticipate and prepare for change across your entire organization.

From the warehouse to corporate headquarters and everywhere in between, barcode management software delivers bottom-line benefits for your organization, regardless of your size or industry sector.

Learn more about what Asset Panda can do for your company when you try our barcode management software free for 14 days.

Asset Panda has been named #104 in the inc. 5000 list, #9 in the software industry, and #4 overall in Texas. To start your free 14-day trial, visit assetpanda.com

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