Inventory and asset tags have been used by many companies for a variety of reasons, primarily of which is to keep track of assets and inventory, as the name suggests. Tracking your company’s assets can be rather challenging if you do not use these tags, and even when you do have these tags, if you do not have a system in place. As a tracking tool, these tags are essential since these are what carry the vital information you need to enable accurate tracking.
Some companies have tags that are simple enough to use but when tracking is needed, may be somewhat complicated. These tags are those that only have a space for an alpha-numeric tracking code. Usually, these tags have these codes written in them by the person in charge of acquisition and property tracking in the company. These codes are written in these blank spaces and are gained from a list of inventory codes that the custodian already has.
This is an old-fashioned method of inventory and asset tracking, but is effective in small companies. If you have a bigger company and you have more assets and inventory to keep track of, this method may prove to be not only ineffective but also rather tedious since people doing the tracking will have to do things manually and check records slowly.
For your inventory and asset tags to be very effective and easy to use, it might be a good idea to have barcodes or UID codes added to these. It is also a good idea to have tags made in advance, with sequential coding added to each tag, and spaces left for notes on them, if needed. You should also consider having different tags made for different things to enable ease of tracking and use as well.
Color coding your tags as well as having these carry barcodes can help you keep track of your assets faster and better. For instance, if a new piece of machinery comes in, you can attach a machinery tag on this (color coded and with a sequential numbering made specifically for such a type of item your company acquires), scan it with a barcode scanner, then encode the details into the computer, and you now have a record for this item. You can reference the history of this piece of machinery easily by scanning the code again, and you can easily see when it was acquired, when the maintenance schedule for it is, what repairs have been made, and so on.