5 Key Reasons to Use Asset Tags for Your Business
When you’re running a business, whether a start-up or an established one, certainly some assets are there in the facility. And tagging or labeling them may sound like an additional expense to you. But do you know the exact locations of all your assets? Most likely, your answer will be “No”. And this is exactly where the importance of metal asset tags comes into the picture. Metal asset tags are metal asset labels that are attached to physical assets. Assets being the backbone of a business, asset tagging is one of its extremely important aspects.
Here, we’re going to discuss five major reasons to use asset tags to help you understand their importance.
1. Fast and Easy Identification of Physical Assets
Imagine you’re looking for some products that need to be delivered to your customers immediately. Can you afford to spend hours searching for them especially when it comes to your reputation and your company’s bottom-line? But with an asset management system that uses advanced RFID tags or traditional barcode labels, you’ll spot them instantly. When assets are moved between departments or are transferred between locations, you may fail to track them. Your recent records don’t show their current location. It sometimes leads to their unnecessary duplication, which means additional cost to you. However, by using metal asset tags you’ll be able to properly monitor the movement of all your physical assets.
2. Simplified Inventory Management
For many businesses, inventory control is one of the most time-consuming processes. If you need to take inventory counts regularly, the use of asset labels would save you from lots of headaches. Would it be possible for you to take the counts manually and correctly by matching ID labels to the records? But if you’ve attached RFID tags to the assets, you could’ve tracked them instantly, which makes the process much easier. The utilization of metal asset tags in conjunction with an asset management system will help you manage the inventory easily.
Using a centralized database, you’ll also be able to review the inventory data instantly and make informed business decisions. When it comes to the procurement of major assets, reviewing clean and accurate inventory data is a must. And you simply cannot acquire that data without having a proper asset tagging system in place.
3. Loss Prevention
When you’re busy with day-to-day business operations, it isn’t uncommon for the assets to get misplaced. For example, when your employees move items like laptops, cell phones, etc regularly, they might not get registered correctly. Sometimes those items get completely lost and hence, you’ve to buy them again. When asset labels like barcode labels, serial numbers, or custom asset tags are used, it becomes easy to track assets. Another major reason to use asset labels is you can track your assets’ warranty status. Most of the assets that are used in a business setting come with some kind of warranty. But when you aren’t tracking the assets accurately, how can you check their warranty status? It often leads to warranty leakage, which will cost you significantly in the form of unnecessary repairs.
Additionally, tamper-evident asset labels have the ability to display that tampering has been performed, which prevents attempts to theft. Even if your assets get stolen, custom asset tags can help you claim your authority easily. All you need to do is some personalization such as adding your logo, phone number, etc to the asset labels. It’ll help you identify them easily if they get mixed up with other company’s assets.
4. Regulatory Compliance
In today’s business landscape, you may have to comply with various regulations with regard to your physical assets. You need to meet those regulatory requirements before concerned authorities flag them. With the right utilization of metal asset tags, you can perform processes like equipment maintenance, testing, etc easily. By using a good asset management system, you can generate detailed reports almost instantly. But without it, you may need to invest days, or sometimes weeks. Even if you aren’t directly accountable, these reports can help you identify issues quickly. And you can take immediate actions to rectify them.
5. Easy Maintenance of Assets
Some kinds of physical assets have to be maintained on a periodic or ongoing basis. Depending on manual documentation to perform those maintenance tasks sometimes leads to inadvertent omissions. If delays to scheduled maintenance happen, you may have to pay unnecessary additional costs. These could happen in the form of replacement or the downtime cost. Using the right asset tagging and an asset management system, you can easily streamline the maintenance tasks.
It’ll help to increase asset efficiency, which will help you generate more revenue. Additionally, using asset labels will help you capture all the essential data that are required to make asset-related decisions. This will also help you get a clear picture of the asset needs of your business. You’ll have an understanding of the assets that need to be upgraded and the ones that need to be discarded. And you’ll be able to make the best decisions without any assumptions or guessing.
Apart from these, improved customer satisfaction is another notable benefit of using asset labels. When you can properly track all your assets, you can allocate those resources appropriately and timely. It’ll help your employees to complete projects on time and within the budget, which will generate a positive customer experience. This will help you earn a competitive edge and boost your brand loyalty.
Closing Thoughts
While an asset management system that uses metal assets tags is surprisingly easy to implement, it offers some great benefits. And if you’re concerned about the cost, there’re several cost-effective asset labels are available as well. Among the commonly used types of labels, tags made with anodized aluminum are a relatively cost-effective option. This is one of the frequently used tag materials that are lightweight and can withstand harsh environments. Asset tags barcoding is also another highly effective yet cost-effective option that you can use for asset management. Just be sure to choose the right form of metal asset tags depending on your use and specific requirements.