Giving Asset Inventory Labels Another Look

By February 28, 2018Asset Tracking, Blog

Giving Asset Inventory Labels Another LookThink about one item you see every single day. Labels probably weren’t the first thing to pop into your mind, but now think about it … labels are everywhere. On virtually every product you see or come into contact with. Labels tell you so much about a product. When it comes to managing assets and inventory, asset inventory labels contain some of the most important information and are very valuable.

Every company that tracks assets and inventory needs to be using asset inventory labels. These small but powerful tools help identify and track the assets and/or inventory needed to operate a business. On the most basic level, labels identify equipment using a unique serial number or barcode. This one of a kind identifier can hold a wealth of information about an asset, which is useful to each person who needs to use it.

Labels have been instrumental for so many businesses when it comes to tracking their expensive equipment. Most companies don’t have loads of cash readily available to instantly replace an item when it is misplaced or goes missing. That’s where the combination of a good asset tracking platform and coordinating asset inventory labels come into play. Used in tandem with an asset tracking system’s built-in barcode scanner, employees have the entire lifecycle of an asset in the palm of their hands. They can instantly access check-in/check-out data, track costs, see where an asset was used last and by whom, and view maintenance records.

The use of a barcode scanner with asset inventory labels saves employees vast amounts of time that used to be spent manually entering data in a ledger or on a shared spreadsheet. This dynamic duo has been proven to speed up data entry and reduce costly entry errors.

Theft is, unfortunately, a big issue in many businesses these days. The use of asset inventory labels is helping to deter it. When an asset is labeled and consistently tracked, it can be more easily identified should it be recovered. Thieves are less likely to take an object that can be tracked or located. Many asset tracking systems have GPS capabilities, which means it can be found much more easily. When an item is recovered, if the asset label on the stolen item matches the asset label recorded in an asset tracking system, then the asset inventory labels are doing exactly what they are supposed to.

Asset inventory labels also help companies when it comes time to plan for yearly budgets, audit asset inventory, and evaluate what they use, how they use it and if an asset is performing up to task. If an asset is not making a positive contribution to the bottom line, companies can see that thanks to data stored in asset inventory labels. Maybe an item has been in for repair too many times, or it’s not being used at all. Seeing an active, up-to-date report on how items are used (or not used) can really shed light on how and what a company uses to be successful.

Asset tracking can be complicated and costly if not handled correctly. Thanks to advances in asset tracking and management – including asset inventory labels and the amount of data they can store — companies now have quick and easy access to information they need, enabling everyone in the organization to work smarter.

Asset Panda is a powerful, highly intuitive mobile ecosystem that tracks assets and equipment throughout their respective life cycles and closes the communication loop among stakeholders. Powered by free Android and iPhone/iPad apps that sync with the cloud, Asset Panda gives clients a quick, easy and on-demand access to their data anywhere they are – and on devices, they’re already using.

To go along with their robust, user-friendly mobile asset tracking system, Asset Panda has launched Buy Asset Tags, an online store designed to give clients of every industry a means to manage their assets and inventory with durable, secure asset tags and labels.

Buy Asset Tags is a one-stop shop for custom tags and labels best-suited for the specific needs of your business. Products are available in a variety of materials like foil, aluminum, metal, plastic, polycarbonate, and polyester and include options like tamper-evident, destructible, hanging and rearview mirror tags. Tags and labels are built to withstand harsh conditions including chemicals, solvents, abrasion and high temperatures.

Whether your assets are in an office, manufacturing or production plant, a construction site or someplace else, having the right asset tracking software combined with the right asset inventory labels will enable you and your employees to track vital assets in a simple, easy-to-use way. Give Asset Panda a try free for 14-days. Visit www.assetpanda.com to get started.

 

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