One of the primary advantages of using asset tags is increased productivity, often encompassing all facets of your organization – and, it’s a benefit that extends across all industries. If you’re wondering if asset tags can enhance your company’s efficiency, here’s how.
Streamline Your Inventory Management
Clearly, asset tags and tracking systems can reduce the manual strains on inventory management. Instead of physically counting assets and monitoring them throughout the lifespan, asset tags automate the process.
A simple scan of a barcode can transfer an asset’s known location from one department to another, reducing the likelihood of human error in continuous tracking. This is especially useful in industries which have shipping and receiving needs or a continuous flow of assets throughout geographically diverse areas.
Optimize Processes through Efficient Resource Allocation
Project planning is far more efficient with asset tags. The accurate and up-to-date nature of records obtainable with an asset tracking system makes the job of a project manager much simpler. You can easily see which assets are available, track current locations, and get a broad overview of how efficiently your organization is utilizing its assets. Technology makes the otherwise tedious task of manually planning out asset needs for a future project, drastically reducing project planning time and reducing planning errors.
Eliminate Excessive Assets
Typically, standard inventory control procedures result in excessive assets from time to time, which ties up capital and physical inventory space. Because inventory processes are much more efficient, it’s easier to identify excessive assets and plan orders more efficiently. This is most commonly applied to the warehousing industry, when physical storage space is the catalyst for increased revenue. When your inventory control managers can more efficiently plan space utilization, you can accommodate more stock – and thus boost the bottom line.
But it’s not just the warehousing industry which can benefit from a reduction in excessive assets. Enterprises often maintain additional assets to compensate for inefficient allocation processes. Because asset tags improve resource allocation, this need is also frequently reduced when a company adopts an asset tagging system.
Up-to-Date Information at Your Fingertips
Using asset tags means finding the most accurate information isn’t a matter of searching through various files or finding the most recent documentation. The seamless scanning process can automatically update company-wide records. An employee searching for the status of a single asset in a different location will be able to obtain accurate data without the need to make phone calls and uncover the location of a particular resource.
Proper Asset Identification Ensures Accurate Pricing, Reduces Counterfeiting
B2B and B2C retailers can drastically enhance productivity and reduce loss using asset tags and barcode labels to properly identify assets. Asset tags create a unique identifier which is assigned solely to a single asset, meaning once that particular asset is sold, it’s out of the system. No more over-selling inventory or under-allocating resources. The cost savings for retailers can also be significant – not only are inventory processes more streamlined, but coupons using barcodes make counterfeiting practically impossible.
Asset tags enhance productivity across all industries. Whether you work in utilities, warehousing, health care or another industry, asset tags can provide the foundation for successful operations and streamlined processes – making your organization leaner and more efficient.