5 Industries That Use Asset Tags the Most and Why
Asset tags help in efficient asset management. If you don’t want to use printed labels on polyester stock or vinyl, you can invest in metal asset tags. They’ll not only let you stand apart from your competitors but even help in successful asset management. These metal asset tags will have serial numbers, barcode labels, id labels, QR codes, or RFID tags. Thus, placing them on your assets would improve how you track assets. Different industries use these asset tags to collect, categorize, and maintain a large amount of information about their assets. Such information would facilitate you to exercise control on how your company obtains, uses, maintains, and disposes of its assets. Thus, they’ll enable better inventory control and asset management.
Here’s a look at the top five industries where metal asset tags are used the most. Let’s delve deeper and try to decode even the reasons behind such usage.
1. Utility Companies
These companies need to maintain equipment that’s continually exposed to unforgiving outdoor environments and chemicals. Since such conditions are difficult to withstand for usual asset tags, extremely durable products like metal asset tags are preferable.
If you’re part of a utility company, you already know how important it is to monitor your assets’ condition. Such monitoring needs to be done correctly over the assets’ lifecycle. With metal asset tags, you can track the number of assets you own and where they’re located. You could even find the last time the maintenance team had worked on them. Such information would help you evaluate the present condition of these assets and their life expectancy.
Knowing how long they would last or when they should be repaired or replaced would help in better preventive maintenance. This is especially important when you’ve to meet state or local regulatory requirements for service quality. Assets not maintained or serviced well could offer less-than-optimal service or be a threat to the local climate. Thus, they could jeopardize your company’s future. However, with metal asset tags, you could steer clear of such situations by ensuring your services comply with the laws
2. Healthcare Companies
One of the key objectives of tracking assets is to maximize asset efficiency while minimizing operational loss. Healthcare companies use a lot of hi-tech equipment that’s costly. These include patient monitors, blood bank refrigerators, scales, ultrasound units, ECG monitors, mobile X-ray units, respiratory machines, diagnostic equipment, etc. But that’s not all. There’re laptops, examination tables, and several consumable items like medicines, masks, gloves, oxygen cylinders, sheets and covers, and more. To minimize equipment/asset loss, healthcare companies need to track them with metal asset tags.
With RFID tags or asset tags barcoding, crucial asset information can be tracked. This includes the asset’s current state, its present owner, existing location, and much more. You could even get regular updates for the functional maintenance of your asset or equipment. This would enhance asset efficiency and help extend their lifespan. Additionally, when you stick to a maintenance schedule, the chances of sudden breakdown of your assets and equipment would reduce. This would boost your assets’ functional efficiency.
From better inventory control and efficient location monitoring to tracking asset condition and oversight of maintenance, asset tags can help. They could even facilitate depreciation for business-critical and high-value assets. Perhaps all these reasons make metal asset tags so popular with healthcare companies.
3. Manufacturing Companies
The manufacturing industry is highly competitive. To stay ahead of your competitors, you’ll need to ensure your assets are optimally utilized. Additionally, since the equipment required for manufacturing are extremely expensive, you need to track their whereabouts in real-time. With metal asset tags, you can do these with ease. These tags make your asset management easier by providing you with real-time data and location of your assets. This enables you to have better and accurate information about the entire production chain. This helps in better inventory control and management. Thus, you can avoid the non-availability of inventory, which would trigger reduced productivity, business loss, and delayed delivery.
When you’ve got an efficient asset tracking system, you can ensure proper maintenance of your assets and reduce wastage. This would decrease sudden breakdowns or failures, which would have otherwise adversely affected production and business reputation.
4. Telecom and Cable Companies
These companies use a lot of assets that are often widely dispersed. Such assets include a wide range of utility poles and cables, equipment, and tools, among others. Many of these assets are located outdoors and have to weather a harsh environment. As a result, they need durable and sturdy asset tags for tracking purposes. That’s why metal asset tags are favored by telecom and cable companies. If you’re part of such a company, you already know the importance of exercising proper control over numerous assets. At the same, you’ll also need to maintain them well to ensure they work optimally. You can do all that with metal asset tags.
These tags let you know where your assets are located and how frequently they’re serviced. You can even track when they or their parts need to be reordered or replaced. This would help in effective asset management. Additionally, when situations like equipment malfunction or power outages occur, you would be able to respond quickly. Thus, you could ensure your services remain unaffected and your industry reputation unblemished.
5. Educational Institutions
Schools, colleges, and universities need to track their supplies, textbooks, laboratory equipment, computers, library books, exam papers, and more. Knowing the location of their assets is especially important if they have large campuses or those spread across different locations. For your educational institution, you could even use RFID tags on students’ school bags and bikes. This would facilitate the traceability of students. The tracking data could be made available to parents, teachers, and school administration simultaneously. To meet such tracking needs, metal asset tags are a cost-effective option, which explains their growing popularity.
If you belong to any of these industries and find asset management difficult, you should invest in metal asset tags. For cost-effective options, you can get in touch with Foison Metal to discuss your needs.