Asset Tags – Color Coding vs. Asset Labels
Color coding of Asset Tags & Security Labels is sometimes done to distinguish assets visually on quick inspection without the need to get close enough to read sequential numbers or scan barcode stickers. Reading those tags very quickly by color could save significant time for departmental, limited, or small-scale inventories.
Some examples: Color code assets for accounting department green, facilities maintenance department purple, while sales department assets are color coded red. Choose colors to represent the year of asset acquisition and rotate through colors representing assets acquired each new year. Types of assets could also be distinguished by color with computer equipment carrying blue asset tags, furniture with yellow tags and fixtures, black tags.
Black asset tags are most resistant to fading outdoors. Red asset labels are seen quickly against most machinery and silver asset tags are least noticeable on publicly viewable assets.
Color coded assets tags can also be used in conjunction with barcoding to distinguish barcoded items scheduled for scanning of individual groups of items by department, year of acquisition or type of asset.
Benefits of assets tags? Substantial cost savings for large enterprises:
- Speed up data collection by tracking assets with barcode scanners/readers while eliminating transcription errors.
- Reduce data entry time with barcode scanners to record asset data instantly. Data entry by skilled typists averages one error in three hundred keystrokes, while barcode readers average about one in three million scans error rate.
- Reduce losses caused by data collection errors, which is a benefit that sometimes exceeds the savings in data entry expenses.
- Managing inventory and tracking assets efficiently saves money.
Inventory Accounting Asset Tags
Yearly asset inventory can be a tedious process without barcode stickers applied to each asset. But with portable barcode readers it is possible to quickly and easily take physical inventory of all company assets. Color coding assets tags can be used for quick visual identification, sequential numbering to facilitate unique identification and finally, barcodes to allow fast and full asset inventories. Data from portable barcode scanners is easily uploaded to a central computer system for tracking and tally. Reducing the time taken to collect data for annual inventories.