What is Asset Tracking and why is it essential!?

William Franks
March 22, 2017
481 Views

Asset tracking is a |strategy for monitoring both fixed or transportable assets. Occasionally referred to as asset management. Asset tracking streamlines the monitoring, managing, and allocating of physical assets by way of the use of barcode labels or asset tags, which are affixed to the assets and scanned by barcode or RFID readers.

Barcodes and/or RFID Tags enable each and every asset to be assigned a special identification number, making it effortlessly recognize a particular asset, pull up servicing schedules for products, record movements or inspections, figure out the status of an asset or group of assets over all the other potentials to report on your total population of assets.

Because barcodes and RFID tags remove the need to have manual documentation and information entry, asset tracking eliminates human error that can result in costly errors and delays. Whether your organization is big or small, organisations that apply efficient asset monitoring solutions reap several rewards, such as improved efficiency, better accuracy in record keeping, streamlined documentation specifications coupled with significant time and financial savings and much more.

Key Advantages of Asset Tracking:

Monitoring Assets

The most evident use of asset tracking solutions is monitoring assets as they move throughout the organisation or are transferred amongst departments. This provides you with a much better view of the organization comprehensive physical asset portfolio, enabling you to determine any demands and eradicate wasteful, pointless duplication through a much better resource management.

Automated Stock Management

Effective asset management leads to productive and precise stock management whilst eliminating several headaches usually connected with stock control. For instance, taking periodic physical stock counts is still required for most organisations, but when assets are tagged or labelled they can be swiftly scanned rather than manually verified to match identification numbers to records. Overall, it’s a significantly easier method.

Streamlined Servicing Management

For businesses that handle assets requiring periodic or ongoing servicing, mail tracking solutions are a lifeline. Typically, servicing management is a procedure that falls behind when businesses depend manual documentation to maintain servicing schedules. With asset tracking solutions, asset management application such as Asset-i can supply|give alerts to make sure scheduled servicing is never ever an afterthought.

Avoiding Loss

In your day-to-day business, it’s easy to misplace essential assets. Products, tools and other things that regularly move during an organisation might not usually be accurately documented. When the very same asset is required once again, the most current information don’t reflect the asset’s existing location and are unable to be found. It’s this shortcoming that leads to numerous organizations unnecessarily duplicating assets. Asset tracking can remove this issue.

Regulatory Compliance

Organizations are serving heavily regulated industries; therefore, these organizations should be outfitted with productive processes to capture and report on information to demonstrate compliance. Not only does asset tracking allow organizations to remain on top of regulatory specifications such as product testing, inspections, calibration, and servicing, but when coupled with extensive asset monitoring software solution such as Asset-i, it can totally streamline your reporting demands. Several organizations can produce comprehensive reports in just minutes, whereas compiling the exact same information manually would take days or even weeks.

Tracking your assets with Asset-i – Asset Tracking Solutions, will not only deliver the advantages, but will also offer a basis for seamless workflows and management of numerous organization functions across your company.

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