Companies need to keep track of their assets so they can control valuable property and protect it from loss or damage. To keep track, each asset needs to be tagged with a unique code or number.
When assets move from one location to another, the code ties each move to the right asset, along with its status and condition. With this coding system, the owner can keep a movement history for each specific asset.
Why Do Assets Need a Unique Code?
A business may deploy several types of assets in its workplace. Each has its own function, and together they help the company earn revenue. Some may look very similar. If similar assets share the same code or identification number, there may be confusion when retrieving them.
For example, your company has several air conditioners stored together in the warehouse. Some were purchased recently and are in good condition. Others are several months old and are not working properly.
Imagine that these air conditioners have the same asset code. When the organization wants to retrieve the new ones, the code would point to both the new and the old ones.
Also Read: Barcodes/QR codes vs RFID tags for asset tracking
This creates confusion over which air conditioner is which. The organization may have to call in a technician to identify them.
The assets can only be moved out once identification is complete. A situation like this slows down the business.
Enterprise Asset Management System to Identify Your Assets
With the spread of the internet and new technologies, most companies now use a digital enterprise asset management system to secure their assets. A digital system outperforms a paper register or spreadsheet in almost every part of asset management.
Asset Infinity is asset tracking and management software with which you can code and track your assets to prevent loss. With this asset tracking software, asset coding and tracking are simple and accurate.
Its label designer lets you create and design label templates for the assets in your business.
You can design and generate barcodes or QR codes for one asset or many using the asset tagging feature. A barcode is a machine-readable code printed on a label as numbers and lines. It is used to monitor assets or stock. You can scan the barcode in the app to retrieve all the information about the asset.
Monitor Your Property with the Asset Tracking System
Asset Infinity’s asset management software gives users full control over many assets. You can check the movement history of one asset or many, with all the information recorded in the application.
That information includes data such as the type, name, use and condition of each asset. When assets are allocated, you can see each movement with its date, time and user details.
Simplify Your Allotment Process
Asset Infinity keeps an accurate record of who holds what. With barcode asset management, you can issue one asset or many to users in different departments at different workplaces.
You can set a due-back date when assets are issued to people, and you will be alerted when an asset is overdue.
The software also lets you take back one asset or many from users in different departments. You can add information such as type, name, use, condition, status, attached files and more.
When an asset is moved, you can print a handover note or gate pass as a record of the transfer.
Stay Updated with the Assets Tracking Software
When asset transactions are complete, you can export movement history and reports to a spreadsheet. Asset Infinity also lets you place an asset under a parent asset, so components are kept together with the equipment they belong to.
When you dispose of an asset, you record the reason, such as sold, scrapped, lost, donated or transferred.
Why a Unique Code Matters for Every Asset
Every asset needs to be tracked properly, and every asset needs its own asset code. The code works as the unique identification of that asset. It is especially helpful when you have many similar assets, such as laptops or pen drives.
A unique asset code supports both asset tracking and asset management. Asset tracking technology then gives each asset its own identity.
If assets are not given separate codes, identifying them individually becomes a tough task and accuracy suffers. Using a unique asset code is essential for an organization’s productivity and for keeping track of each asset.
Recommend To Read: A Complete Overview of Asset Labeling in the Asset Tracking Software
Frequently Asked Questions (FAQs)
1. What Is Asset Tracking Technology?
Asset tracking technology helps organizations keep track of each asset and its location. It works through asset tags or labels, each carrying a unique asset code that identifies the asset individually. Several asset tracking technologies are available, such as barcodes, QR codes, RFID, GPS, BLE, IoT sensors and NFC.
2. How Does Asset Tracking Technology Work?
The asset label carries a unique asset code. The label is attached to the asset, and the code is entered into the asset tracking software. Whenever the code is scanned, the software fetches all the information related to that asset.