Assets owned by organizations are often transferred across multiple locations such as warehouses or job sites per business requirements. For example, in the construction industry, tools and equipment are continuously being checked out to the field site for multiple projects. Without efficient tracking, companies lose and misplace their expensive equipment which has a serious impact on their bottom line.
Implement a robust asset tracking system for your business
Businesses can improve visibility of items and control movement across multiple sites with the help of a mobile asset tracking system. The system is connected to a tracking software and can be installed on any electronic device and carried to various remote locations and project fields where assets are being used.
Here are three key problems you can solve with the help of a mobile asset tracking system:
- Ineffective manual tracking: As assets are majorly utilized on remote sites, they cannot be tracked effectively with an Excel spreadsheet. Employees using such systems have to remember all information so that it can be entered in the data files later.
- Limited barcode scanning: While barcode scanning eliminates chances of human error in tracking assets, it does have a few limitations. Barcode scanners need to be connected to a computer or be in close proximity to an office system to work. Such a situation is not ideal when working on remote job sites.
- High costs: One way to track assets is to use wireless computers or laptops. Investing in laptops for employees on the field is a costly and inefficient solution.
Using a mobile application for tracking items enables companies to stay updated with item movements in real time. This ensures transparency and lowers risks associated with missing assets.
Here’s how you can get started:
1. Pick the right asset management system
First up, pick the right system. The right system should enable employees on the field to carry out the following tasks.
- Take mass actions: Employees working on the field need to check in small tools and inventory items in large quantities. A tracking system should allow mass actions on check ins, checkout, service and maintenance events. This not only saves time but improves efficiency on the field as well.
- Verify custodianship: With multiple ongoing remote projects, it is common to lose track of items on the field. A mobile tracking system with the ability to verify custodianship helps maintain accountability for field workflows.
- Update work logs: Without a proper system in place, it becomes tough to track progress of remote tasks. For instant updates, staff members should be able to log in labor hours directly from the tracking app. This way it becomes easier for admins to monitor work orders even on the field.
2. Collect, label and analyze assets
To implement a successful mobile asset management strategy, it is important to have all your data uploaded in a tracking software. Start by labeling assets with a barcode. Doing this will help you easily track assets when employees check them out across multiple locations.
Once you have assets entered into the system, data is automatically updated for events like maintenance, service and check ins. Having an asset database on the cloud allows employees in the field to receive the latest asset status information and plan daily projects accordingly. Also, creating an asset register also helps admins track custodianship on the field. This way assets only remain with authorized individuals.
3. Utilize a variety of tracking mechanisms
Invest in a tracking app that supports multiple different types of tags. Having the option to utilize asset suitable tags enables streamlined business performance. Companies can choose from the following options to label their mobile assets:
Barcodes: The cheapest option available on the market and a good choice for mobile asset tags. Usually barcodes are used to track consumer goods, inventory and goods in production.
QR codes: An advanced form of barcodes, QR codes are a suitable option for security related mobile assets. Deploying QR codes can help prevent counterfeit in the supply chain industry.
RFID tags: A popular implementation of RFID tags is materials management for industries like construction and manufacturing. Mobile items and materials can be difficult to locate on large job sites and RFID tags can be useful in retrieving them.
Maximizing ROI with mobile asset tracking system
The key to get the most benefit from your mobile tracking system is to invest in a long term solution that adjusts according to the needs of your business. When choosing a mobile tracking app, consider the following factors:
- Scalability: A software solution may be the best fit for your business this year, but does it have the capability to grow as your assets grow? As you expand your business you will have more employees using the app. The tracking system should be scalable and able to cater to the company’s growing requirements.
- Customization: Many companies have industry specific requirements that need to be added to tracking software programs to achieve maximum efficiency. Look for a system that can be customized to suit your needs on the field.
- Hardware compatibility: In order for a mobile asset tracking system to work properly in the field, there should be seamless hardware compatibility. Develop checkpoints to ensure that relevant electronic devices are compatible with the app.
EZOfficeInventory is a leading asset tracking software. It allows you to track, maintain, and report on inventory from anywhere, at any time.