We are pretty much acquainted with barcode scanners thanks to our round-trips to the local convenience stores. However, there is so much more a barcode scanner can do other than cataloging and quoting product prices in a store. Businesses, big or small, can benefit by using barcode scanners and asset tags for inventory management and tracking. All you need is barcode asset tracking software integrated into your existing system. But first, let’s understand how barcode asset tracking adds more value to your business.
Barcode Asset Tracking & Asset Tags
Every organisation owns fixed assets like furniture, industrial equipment, IT devices (hardware and software), etc., to operate and earn revenue. Barcode asset tracking allows these businesses to organize and track their fixed assets, streamlining inventory and life-cycle management. It is done by generating barcode asset tags for each asset.
Barcode asset tags also known as asset inventory labels are machine-readable codes, attached to fixed assets as an identifier. Asset tagging, on the other hand, is the process of labeling a fixed asset with these barcodes, so assets are easier to track throughout their lifecycle. You can access all details about a particular asset, such as:
Present condition
Asset maintenance history
The person an asset is currently assigned to
Assigned location of the asset
Asset’s check-in/check-out status
Asset depreciation details, etc.
This gives you a well-rounded view of the asset usage and lifecycle, enabling you to make more-informed business decisions.
How Barcode Asset Tracking Works
Conventionally, you need only three things for barcode asset tracking, which are:
Barcode asset tags
Barcode scanner
Asset tracking software
There are four steps to the process:
Step 1: Use a barcode generator to create the barcode.
Step 2: Assign the barcode to a device.
Step 3: Use either a mobile device or scanner to scan the barcode and extract asset data.
Step 4: The asset tracking software allows you to quickly find the asset data assigned to a specific barcode.
Barcode asset tracking comes in handy as its facilitates:
Faster collection of asset data
Accuracy in inventory management
Controlled spending on asset tracking
Simple and accurate record-keeping and updating
It’s simple, fast, and efficient!
Advantages of Asset Tracking with Barcodes
Fixed assets depreciate over time through regular usage and lose value. Eventually, there are no more updates to be made to the device, as the asset reaches the end of its lifecycle. Thereafter these devices are either discarded or replaced. Now, in the absence of a proper system for recordkeeping, organisations have a hard time knowing about;
All the assets they own
Condition of those assets
Assigned asset locations
This lack of information can lead to stolen/misplaced equipment and ghost assets, along with audit, accounting, and tax errors. It ends up costing time, resources, and money.
You can prevent all that with barcode asset tracking software:
It allows you to capture and record of a massive amount of information about each asset within the system.
The enhanced recordkeeping of asset data, including check-in/check-out details, improves data integrity and accountability.
You don't have to spend hours manually typing the asset IDs and serial numbers into the system. This, along with the other time-saving aspects of barcode asset tracking reduces cost and time of inventory data entry.
You can track every detail of the asset down to its present assigned location.
It eliminates any scope of missed maintenance schedules, warranty lapses, license renewals, etc.
Businesses get a better grip on asset data and lifecycle management, which yields financial and operational benefits.
Barcode Asset Tracking Software by AssetRemix
Asset tracking with barcodes is essential to present-day asset management needs of businesses, especially the ones that manage an extensive fleet of IT equipment. Using AssetRemix’s custom barcode generator, generate and print custom asset tags to label your fixed assets. The in-built barcode scanner help in tagging and scanning assets easily. AssetRemix can read asset tags from other apps; hence there is no need for retagging. If you have assets that have been pre-tagged, AssetRemix can import and read them easily. Start using our barcode asset scanner today by signing up for a free account and upgrade anytime you want. You can contact our experts for a consultation & book a demo.