Monday, July 15, 2024 | Blog
When you hear "assets," you might first think of your bank account. However, "assets" actually refer to the physical things you own. For a company, assets are essential things like machines, vehicles, tools, or office supplies. These assets are vital for daily operations, so tracking them is crucial. It helps you monitor all the equipment, tools, and materials you own. Let's look at asset tracking, operation, and advantages, particularly with cloud-based asset management software.
In business, asset tracking means knowing where your physical assets are and their current status. It helps organizations make the most of their equipment and supplies. Asset management system software tracks these items efficiently using tools like barcodes, QR codes, RFID tags, and specialized software. It is required to minimize breakdowns, reduce repair costs, and ensure factories run smoothly.
Whether your organization is just starting or has been around for a while, managing your assets well brings many benefits:
A cloud-based digital asset management system does more than make things run smoothly. It helps your organization plan better and grow wiser.
Tracking the correct information helps you manage your assets better. Here are some essential details to keep track of with simple asset management software:
It is the name you use for the asset, whether a technical name or a simple label.
Know where the asset is located, which is easy for fixed assets. For movable assets, keep track of where they are and where they are expected to be.
Know what the asset is used for and how it fits into your organization's operations. It helps you plan and use it effectively.
Track who has access to the asset and who is responsible for it. It includes who uses it and who maintains it. Knowing this helps in accountability and proper usage.
Monitor how well the asset is working. Keep an eye on maintenance to ensure it runs efficiently.
Record past maintenance activities, including what was done, when, and by whom. This helps you better plan future maintenance.
Note any times when the asset doesn't work correctly and why, which helps find patterns and prevent future problems.
Track the asset's expected life and when it might need replacement or upgrades. This is important for managing the asset's lifecycle.
Estimate the asset's length before needing replacement for proper budgeting and future planning.
Using simple asset management software to track these details ensures you can manage assets efficiently, save money, and improve productivity.
Various methods are available to track your essential equipment and tools depending on your needs. Here's an overview of common ways:
Many more significant assets already have barcode labels. Mobile scanner apps or QR code scanners can manage these items digitally. This method allows easy access to information, ideal for businesses with multiple locations or field workers.
Many more significant assets already have barcode labels. Mobile scanner apps or QR code scanners can manage these items digitally. This method allows easy access to information, ideal for businesses with multiple locations or field workers.
RFID tags use radio signals to broadcast asset locations automatically. This method is reliable but requires handheld scanners. Consider how many scanners you need for effective use.
Attach GPS devices to assets to track their locations via cellular networks or satellites. This system provides real-time updates over long distances and includes features like geofencing alerts. GPS trackers can be mobile or hardwired into more extensive equipment, offering a user-friendly dashboard for fleet management
Choosing the right asset management software features like barcode, RFID, or GPS tracking depends on your asset tracking needs. These tools simplify monitoring, ensuring efficient management and reducing the risk of asset loss or misuse.
While they may sound similar, asset management and asset tracking are different concepts. Asset tracking can be done independently or as part of asset management.
Think about any organization—a company that makes things, moves goods, or builds stuff—they all depend on physical things like trucks and tools to do their daily work.
These assets must work well throughout their lifespan. That's where the best digital asset management software comes in. It sets up a systematic way to oversee these resources, including keeping track of important information about them. Get in touch to know more.
2024
