Companies use special labels with unique codes and descriptions to create asset tags for equipment tracking, especially if that equipment is being regularly used or moved to different locations within or outside of its main office or crib. These tools are part of a larger asset management system that companies employ for the sake of costs and safety.
Benefits of Having Asset Tags for Equipment
Better inventory control: With asset tags, companies can better trace inventory levels and take preventive measures to ensure a popular product is regularly stocked before it gets critically low. Being this proactive prevents businesses from slowing or even stopping their sales momentum.
Ongoing maintenance and compliance: One of the most common issues in inventory management is human error. Asset tags streamline the process by simplifying record keeping. With the proper information, companies have a better idea of asset health and life expectancy, giving them ample opportunity to schedule repairs or buy a replacement.
Reduce theft and loss costs: Trackable asset labels help businesses keep a digital eye on where their equipment is or has been. The type of register means equipment that’s critical to a business’s bottom line has an audit trail that can be evidence for insurance claims.
Simplify cost tracking: From the crib to the project site or from the warehouse to the shipping line, tagging business assets saves time and money. If an asset has reached the point where it’s a depreciation, it can be properly adjusted in the company’s ledger.
Assets That Need to Be Tagged
There are three general categories of assets that need labels.
Movable assets that can be shared across locations need to be tracked for the sake of accountability when it comes to damage or equipment losses. Some examples include heavy machinery used on construction sites or various types of office equipment that may reside at a single location but are handled by many people.
Fixed assets may not be mobile but need to be serviced regularly to avoid unexpected and hazardous future breakdowns that can seriously impact business function. Manufacturing machinery such as turbines or power units are a couple of examples of equipment that’s necessary for daily operations.
High-value assets may be expensive or may have sensitive company data. While they could belong to either of the previous categories as well, these are the types of high-value equipment that would be a struggle to replace if anything happened to them.
Types of Asset Tracking Tags Available
There are several different options available for the types of tags for your assets.
Barcodes are the most abundant and basic type of asset label that almost everyone in the world has encountered. While there are several types of 1D barcode labels, there are two widely used types: Code 39 and Code 128. Code 39, also known as the 3 of 9 Barcode, allows uppercase alphabet and numbers, along with a few special characters. Code 128 uses the ASCII character set, making it capable of more characters than Code 39 and more precise.
QR codes are more advanced than barcodes. These are black modules in the shape of a square that can include any information. It’s really easy to create custom asset tags with QR codes that are scannable by cameras on smart devices.
RFID tags use radio waves to transmit the necessary information. Companies that use this require a special type of equipment that’s pricey but demonstrates that they aren’t afraid of more advanced technology. The beauty about RFID tags is that they don’t have to be visible to be scannable, making them a good option for tracking high-value assets.
GPS asset tags are the most expensive and difficult to set up but they are also advanced. They provide real-time records of times and locations. This is one of the ways companies keep track of vehicles that transport cargo or passengers.
Material for Your Custom Asset Labels
When choosing the right asset tags for equipment, there are a few options. Polyester asset labels work well on curved or uneven surfaces. They have a permanent adhesive on the back and can contain any information, including the company logo, name and other material information.
Out of all the possibilities, metal asset tags are the best type of labels available. Not only are they weather-resistant, but they stand up against the type of abrasion that can damage tags and make them unscannable.
There are several types of anodized aluminum tags, including foil asset labels and rigid aluminum asset tags, which are mostly used on manufacturing or industrial equipment. Metal tags stand up to harsh environments, chemicals and solvents that can eat away at the vital information they hold.
Whether you’re looking to secure office equipment or heavy-duty equipment, Metal Marker Manufacturing can customize your metal tags and decals for your business, no matter the quantity. Call us to see how we can get the job done.