Asset tagging: Fast track to higher productivity for small businesses
Small businesses tend to overlook the importance of a robust asset tracking software. It happens because they already have enough merchandise to fit in on a small budget. Doing this, you can have serious drawbacks for your business. Whether you are a small or multinational organization, asset tracking should be considered a critical aspect of inventory management. Tagging your assets enables you to run smooth work operations and maximize utility from your tools. This process doesn’t have to be complicated. It’s pretty straightforward if implemented in the correct manner.
For starters, let’s begin by talking about which assets should you be tagging? Inventory labels can be designed for both fixed and movable tools. If you want to shortlist items for asset tagging, you can divide your inventory items into two main categories: High-value equipment which has a depreciation rate and requires maintenance and repair. Followed by assets in transit which needs constant supervision. After deciding what needs to be tagged, you need to focus on what to expect from an asset tracking software.
By deploying a sophisticated software for your company, you will be able to access valuable information regarding all your assets. Having detailed data, being instantly updated by the minute, leads you to devise smart business strategies. Streamlined management processes mean an increase in asset optimization which ultimately raises workplace productivity!
Eager to gain all these objectives simply through a small business asset tracking tool? Here are a few ways you can simplify asset tagging for your organization:
1. Create customized tags to increase workplace efficiency
Every institution has its share of unique assets. Similarly, business inventory contains numerous tools and machines which require special attention. After huge capital investments, it is only practical that a company gears its asset management routines to generate substantial profits. While having a large asset base is definitely a plus point, its management, however, can be challenging. You would not want your tools to be misused and lost every time they are checked out for use. For this reason, it is essential that you tag them to give unique identifications.
Asset tracking software comes with the ability to help you create customized barcodes for all your inventory items. Sounds like a great solution doesn’t it? And it’s very easy to implement as well! Asset tags can be custom-made to include details about the particular tool or machinery. This allows employees to quickly scan and figure out where an asset is supposed to go. Such mechanisms are extremely helpful at large events and official meetings held at various venues. Comprehensive asset labels speed up work operations and boost up overall efficiency!
2. Generate service tickets to track asset activities – Go mobile
Perishable inventory items can pose a threat if you fail to devise the appropriate asset management routines. Why is this so? For starters, most inventory is time-sensitive and has an estimated useful lifespan, after which it would break down. In order to make the most of such assets before their expiry dates, it is important that you track them for depreciation and maintenance. Doing so will help you avoid unnecessary repair and overhead costs. All this sounds pretty complicated, but it doesn’t have to be. If all your assets are tagged, you can easily monitor consumption rates and that too all through your smartphone.
So, how does this work? Asset tags can be designed to contain all sorts of information. Lucky for you, you can also store maintenance schedules and vendor details in the asset barcodes. Every time you want to check for the next service session, you simply have to scan the barcode from your smartphone and you will have all the details you require in no time! By using asset tracking software, you can organize your inventory tags for streamlined maintenance practices. When you have a sophisticated tracking mobile app, you can easily keep your assets in good shape for an improved performance.
3. Instantly update asset information for faster retrievals
Companies end up spending hundreds of dollars trying to attain a safe and secure asset database. While your asset information should not be compromised in any way, you can do this without going bankrupt. The ideal solution would be to have a cloud-based asset tracking software which monitors all inventory items through barcodes. Tagging all your assets allows you to enter accurate information without the risk of human error.
Your database can also be instantly updated without long intervals, simply by scanning the asset barcodes. Doing this allows you to constantly monitor asset status at all times. This data can be easily accessed by everyone in the office. Whether you need updates regarding maintenance schedules or vendor details, all you have to do is simply access your database. A comprehensive information system lets employees meet their deadlines faster and achieve their daily objectives.
4. Monitor asset movements across locations
If you are a business on the move, you realize how difficult it can be to manage your tools on the go. Small or big, your inventory is a valuable business asset which needs to be constantly supervised. When employees go out for work projects, they tend to take along portable devices as well as other office tools and machines. How can you keep a track of what is going where and when will it be back? You can do all this and much more with barcode technology through asset tracking software.
Start off by simply tagging all your assets. Make the most of these tags by enabling asset check-ins and checkouts. This way, every time an employee takes out a tool for use, your database will be instantly notified of an asset’s new location. Whether your employees are outside the office, they can simply use their mobile phones to scan asset tags for entering updated asset location during transit. Doing this helps lower risk of theft and fraud!
EZOfficeInventory is the leading asset tracking software, which enables small businesses and institutions to monitor performance. The software lets you carry out streamlined asset activities to boost up productivity.
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