How Using Inventory and Asset Tags Properly Can Save Your Company Money

Inventory and Asset TagsDid you know that if there is a flaw in your inventory and tracking system, you stand to lose quite a bit of money? Not being able to keep track of your assets as well as the things you employees consume can essentially burn a hole in your pocket. One way you can reduce the possibility of such a thing from happening, or to eliminate such a problem, is to use inventory and asset tags properly.

How do you use such tags the right way? There are quite a few methods that can be utilized in order for you to properly keep track of your assets and inventory, and here are some of those ways:

Color Coding – you can color code your tags to show which items were obtained during a specific period of time, or you can use the color coding method to help you determine which items are high-ticket assets and which ones are not as valuable. You can also use color coding to indicate where specific equipment belong in your workplace.

Barcoded tags – having barcodes on your tags can actually make your asset tracking efforts more efficient and less of a strain on your employees. This is because you can go through the process quickly and effectively with the help of a portable scanner and a laptop computer. Scan your items one by one, and encode what needs to be encoded when you acquire these. When inventory taking comes around, a simple scan of the barcode on these tags will tell you a lot about the item – when it was purchased, when maintenance was done on it, how much it cost, and even who did the first inventory on it.

Numbered tags – you can have your tags printed with numbers in sequential order, or you can have whoever is in charge of acquisition to write down the asset number of each item that your company acquires. You can also choose to use a stamping tool and metal tags when you do this to make the numbers on your assets more difficult to tamper with.

These are just a few of the methods that can help you keep better track of your company’s assets. Of course, in order for these to work, you need to have a systematic and efficient record keeping run from the very start. You need to carefully tag and take note of each item that is tagged, whether these are barcoded or not, and keep a detailed record of each asset. When you have a clean record of everything your company owns from the very start, you won’t find keeping track of your assets a problem. 

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