Any organization is always concerned about their assets that should be maintained and managed properly to enjoy the expanded life cycle. In order to manage them accurately and effectively, you must keep them tracking regularly. Asset tracking is one of the most important tasks in managing an asset that needs to be performed by a manager regularly. But the concern is, how to keep tracking them all at the same time flawlessly is a hurdle. Asset managers must have some solution that should be handy and hassle-free.
All Asset managers are looking to have a solution that helps them manage their assets with their mobiles or tablets or laptops to perform Asset tracking activity from anywhere, anytime they need.
What is Asset Tracking?
Asset Tracking is an activity where you keep tracking the physical assets of your company. This activity gives you a detailed idea of your asset’s current location, the current status of assets, history of any issues that happened with the particular asset, how soon that was solved, current usage pattern, and inventory level of any particular asset.
Asset tracking gives you relief from all the manual tasks and laborious efforts that eventually save your time and energy, which you can channelize on some other relevant task that really needs your focus and energy. Well executed asset tracking can save your a good amount of money by eliminating unnecessary expenses and investment in inventories.
What is Bar-code or QR-code Tracking?
A barcode is a set of digits or line motifs, readable by machines to represent the data in visual form. These barcodes are attached to the products for their quick identification. A well-created barcode can show you the inventory details of the products as well as the pricing and any other customized information that you attached.
In the early days, barcodes belonged to only linear barcode systems or 1-dimensional barcode systems, scannable by an optical barcode scanner to decode the information stored with barcodes.
Later on, a 2-dimensional version of the barcode was introduced with rectangle, dots, hexagons and other geometrical patterns popularly known as QR- codes (Quick Response code), which can be readable or decoded with mobile cameras or some dedicated software or mobile apps.
Why should you use QR-code for Asset Tracking?
Most organizations nowadays have understood and accepted the viability of using QR-code in asset tracking software as it makes tracking easy and seamless. With QR-codes assets can be tracked anytime, anywhere even if the asset is not available physically. With this technology, you can track the asset in real-time whether it’s moving from one location to another, or lying in the stock-room, the inventory level, the scheduled maintenance of that particular asset, and so on. All these and many other
QR-code benefits make it more viable and valuable to use for asset tracking. Let’s see some of the benefits given below:
- QR-code has the capacity to store 100times more data than other barcodes
- QR-code offers 360-degree scanning from any angle to make it easy to operate.
- QR-code can be Easily Readable and Decoded by Smartphone camera or any install app scanning
- Minimal possibility of background interference
How are QR-codes important for Asset Management and Tracking?
In this digitally growing world, applying Bar-code Scanning became super easy with Smartphones and easy-to-use software.
Faster Tracking
With easy to use with any handy device that can scan the barcode, tracking of assets can be done faster than manual tracking activity.
Cost-effective
With RFID technology, producing barcodes in large quantities is very cost-effective for organizations.
Minimal Errors
Bar-codes can save a large number of data attached to any specific assets. The information they can save and share is most accurate due to the large amount of database it can store, providing all needed information regarding the asset.
Simplified Tracking activity
With real-time tracking of assets from the place where its produced, it has been sold. It helps track the location, current status of the assets, condition of the asset in each stage and can be easily tracked by the barcode system through large data storage capacity.
Cloud capabilities
Barcode solutions nowadays are developed on cloud facilities hence no need to have company-owned storage or server. It eventually reduces the cost of ownership. Even its cloud capability allows the asset manager to fetch the information anytime, anywhere by just scanning a barcode.
Also Read: Difference between On-Premise and Cloud Asset Management Software
Tag Management for Assets
Barcodes are available in different sizes, colors, dimensions, so you can manage your barcodes based on your industry and the product belongs to the respective industry.
Depreciation Tracking
Barcode tracking can help you understand what’s exact life of the asset, old or new, how much time it has passed within the organization, what’s the initial cost of the asset and what’s the current value, whether an asset is degraded during the usage time period and depreciated or not.
Improved Response Time
With quick response of Bar-code and QR-code as soon as it’s scanned, response towards an asset, any issues reported against any asset, any scheduled maintenance or repairs on-going issue, everything can be scanned and solved on an immediate basis. This can help organizations to improve their response time.
Quick access to Asset History
With QR codes, you can get in and out history from day 1 when assets are purchased and enter into the organization till the day it’s been tracked. You can access every detail relevant to that specific asset.
Easy Complaint Management through QR-code
Using the QR-code of the given assets, complaints can be easily created, tracked and controlled by the manager and his team. You can get every single update happening on that created complaint by using the QR-code.
Manage your To-do for the given Asset with QR-code
By using the QR-code of that specific asset you can create and manage every task you need to perform in regards to that asset, like purchase, maintenance, depreciation, repairs, etc, and their scheduled date and time-wise and which task will be managed by whom.
Accurate and Easy Audit of Assets
With QR-codes assigned to the asset, which can store a lot of information about the asset, you need not gather all the information and related documents while carrying out the audit. Every single piece of information and documents can be traced and checked by scanning the QR-code.
Endnotes
With a digitally growing world, asset tracking can be fast-tracked and made easy and cost-effective by using QR-codes for tracking all the assets in real-time, irrespective of their location. To know more about how TeroTAM’s QR-code feature can help you excel in your asset tracking activity, contact our team of experts at contact@terotam.com now.
