A key cost saving step any business in today's corporate climate can take is to track their assets and put into place a good asset management solution. Now, asset management solution in this context does not refer to monetary assets. The reference here is to manage and track fixed assets, possibly even inventory and consumable items.
There is a growing need to manage fixed assets more efficiently than ever before, because business competition has become so fierce, not only in the continental US, but abroad. Given the sheer volume of assets a company can have, from a dozen tables to 5 dozen chairs, to projectors and media equipment, to assets that aren't even known - providing realtime locations and status on any given item at any given time is a serious challenge. Studies have been done about identifying the buried costs of managing fixes assets and inventory control, and the results were astounding. If a company uses barcode labels, or even RFID tags, the ROI payback to a company can easily be 3 to 6 months - or less!
Okay, yes there are challenges to tracking assets and inventory control using any tool - barcode software isn't a one-step wonder. The location of the asset or inventory item must be taken into account - is it in-premise or in Singapore. The asset tracking solution has to be on time and confirmable. One can't release a new item out to the staff media room, then not follow up on it's use or whereabouts for 6 months. By then, "Not Me" has already appropriated or damaged it and there's no "do over". Next, determine not only what is tracked, but how the asset is tracked, what information needs to be available, and to whom. And, remember, everyone knows that data multiples when no one's looking, but a myriad of miscellaneous reports is unnecessary. Just because the data is available doesn't mean it's of real value - Just the Facts M'am!
Here are some suggestions to implement a solid, reasonable and useful Asset Tracking and Business Management Solution:
• Maximize your asset utilization by re-cycling usable or excess equipment when purchase requests are made for new assets or tools. EX: Pull in similar barcode label hardware (barcode printers, barcode scanners, barcode computers, mobile handheld RF terminals) from multiple facilities, and implemenet their usage in a single facility. Then deploy new barcode hardware, if needed as each additional need arises.
• Make employees, staff and contractors accountable for the assets they're assigned, or ask to use. Lost and missing tools and assets account for a large portion of lost revenue. Reduce the opportunity for loss - barcode label everything of significant value that can be barcoded. Implement a good barcode software solution and track assets - who got them, where they are, what condition they are in. Don't think something is too small to barcode - barcode micro dots can attached to surprisingly small items, and items can also be "binned" for ease of asset tracking.
• Pay serious attention to IT assets - routers, PCs, mobile drives, wireless components - are a major investment for every contemporary business. From the US Government, to Law School, to the Retirement Village in sunny Florida, businesses have to find a way to save money, increase security for their assets, and lower the sheer burden of administering all of this asset and inventory control. IT assets can often contain proprietary or privileged information - this can translate to lost or stolen intellectual property, stolen identity or Social Security information. These "assets" can't be replaced, and losing them puts not only an individual, but an entire business in jeopardy. With IT assets, the bar is higher, but the barcode doesn't have to be. Consider RFID as an option.
• Go Green, it's the IN thing now. It's probably not so much the concept, as that everyone is really tired of constantly dealing with paperwork. The more we generate, to more labor, time and effort it takes to deal with it. And, really, it's just not necessary. Remember, asset tracking can yield lots of data, but just because the data's there doesn't mean it's relevant or that it needs to become hardcopy. A good barcode software solution for asset tracking and business management gives you online information when you need it. Print out only what you really need, and save the general inquiries in the Ether.
• Inventory control management using barcode, and asset tracking barcode applications, are proven to yield less errors in data. If you eliminate the need for handwritten information, then to transpose that handwritten information, data integrity improves. A good barcode software system can easily provide this.
• Identify assets whose cost of owership increases with age. As items age, they fail to provide the performance they once did (much like carbon units). They need tune-ups and repairs more frequently (again, like carbon units). Technology items have the additional downside in that their performance specifications no longer meet the requirements of the task at hand (like that PC we paid quite a sum of money for 2 years ago, but each OS upgrade simply makes it slower and slower). With asset tracking software and business management solutions, you'll know what an item's life cycle is ended, prompting retirement and replacement in a timely manner. If it's a critical tool, this may also prevent liability and the risk assummed with unplanned asset failure.
• RealTime asset tracking and inventory control mean there'll be no surprises when a job comes up or the tax man cometh. Barcode tracking and asset management provide for reduced labor costs and complete reporting - depreciate assets in a timely manner, and avoid overpaying or underpaying taxes.
Businesses that know business know that asset tracking is a need, not a want. They also know the best way to streamline this process is to use barcode labels, barcode hardware and a good barcode asset tracking and business management software. Most likely, your business can derive benefits as well or better than most. At GigaTrak Barcode Solutions, we specialize in barcode software solutions, barcode hardware systems, asset and inventory control management, and expert customer relationships. Our basic asset tracking software solution, complete with barcode hardware, starts at less than $3000. In order to offer a low cost option to help users begin their asset tracking solutions, we also offer a starter software version for $495. Our GigaTrak team is dedicated to making the world a better place through barcode tracking innovation - quickly, and at a reasonable cost. Call your GigaTrak representative at 877-204-9237 to set up a free online webinar today - you'll see why asset tracking is a must implement solution for today's business.
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