Here’s What Asset Tagging Can Do for Your Business
Your company’s electronics, business equipment, tools, supplies, machinery, and furniture are all assets that need to be tracked and monitored. Asset tags can help you get it done. Without asset tags, you might not know where your tools, equipment and machinery are when you need them. Yopu could even be more vulnerable to theft of inventory and equipment if you’re not even trying to keep track of your company’s stuff.
You need asset tagging to protect your company equipment and inventory from theft and loss. You can even use radio-frequency identification (RFID) asset tags to monitor the whereabouts and maintenance needs of company vehicles. With asset tags on all of your stuff, you’ll be poised to track the whereabouts and condition of your equipment even as your company grows. You’ll reduce shrinkage and save much of the time you would have spent relocating lost equipment, tools, and other assets.
Protect Your Inventory and Equipment from Theft
One of the most important reasons you should use asset tagging in your company is to protect your inventory and equipment from theft. Tracking your assets with tags and labels, especially asset tags that have RFID capabilities, can give you real-time insight into where things are and let you know immediately if someone tries to walk off with something.
Job site theft can be a huge source of lost revenues – job site theft at construction sites alone amounts to losses of $1 billion a year. Company equipment like telephones, TVs, computers and peripherals, tools, spare parts, and even some appliances and machinery are vulnerable to theft by employees and stock that’s out on the sales floor is vulnerable to theft by both customers and employees. Retail shoplifters stole $69 billion worth of products in 2019. Many asset tags are alarmed so that if someone tries to take a tagged item off the sales floor, everyone will hear about it.
Track Your Equipment as Your Company Grows
When you’re a small company, it might not make sense to asset tag all of your equipment, especially things like furniture that don’t get swapped around and won’t be moved, because you only have one location. But as your company grows, you’ll hire more people, buy more equipment and furniture, and maybe even open new locations. You need to have a solid asset tagging strategy in place to keep track of all of your assets as your company gets bigger.
Affix asset tags to all of your company’s assets. That way, if you end up moving some of your old furniture and equipment to a new location, you’ll have a record of that movement. As you hire new employees and buy new stuff, you can add your new assets to the system as soon as they arrive.
Monitor Maintenance Schedules and Repair Needs
Much of your company’s equipment and machinery is going to need to be kept on a maintenance schedule. Company vehicles, tools, equipment, and machinery will need to be repaired or even replaced from time to time. Asset tagging is a great way to keep track of maintenance schedules and repair needs. Of course, you can also use it to monitor the useful life of a piece of equipment, so you’ll know when it’s nearing replacement territory. You can even pull up a vehicle’s or piece of equipment’s entire maintenance history just by scanning the asset tag.
Save Time Relocating Lost Equipment
Misplacing things can be just as much of a drain on your company’s resources as having them stolen outright. For example, around the United States, nurses waste about 6,000 hours a month looking for misplaced medical equipment so they can treat their patients.
That’s a lot of time that could be spent administering care instead, and if you don’t use asset tags in your company, you’re bleeding time and money that could be spent working instead of looking for misplaced equipment. It’s easy to know who things belong to, and to put equipment and tools back where it goes, when items are tagged. You can even buy an RFID asset tagging system that will show you exactly where things are in real time – no more hunting fruitlessly for lost equipment.
Asset tagging is a valuable tool to keep track of your company’s equipment, furniture, computers and electronics, inventory, tools, and more. With the help of an RFID asset tagging system, you can reduce theft, prevent lost items, and take better care of your company’s assets than ever.
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