What Is the Importance of Unique Asset Code in Asset Tracking?

Companies need to keep track of their assets so that they can control their valuable properties and prevent them from loss or damage. In order to keep the track, the assets are required to tag with unique code or numbers.

When the assets are allocating from one location to another, the code will indicate their status and condition. With the help of this coding system, the rightful owner can keep a moving history of the specific assets.

Why Assets Need a Unique Code?

A business organization may deploy several types of assets in their workplace. Each of the assets has its own unique function. They are the mechanism to bring revenue to the company. Some of them may look similar to one another. If the similar assets have the same code or identification number, there may be confusion at the time of retrieving them.

For example, your workstation has several air conditioners kept together in the warehouse. Some of them were purchased in recent time and they are in good condition. Meanwhile, the others are several months old, but they are not functioning properly.

Imagine that these air conditioners have the same asset code. When the organization wants to retrieve the new ones, the code would indicate the status of both new and old ones.

Also Read: Barcodes/QR codes vs RFID tags for asset tracking

This may create confusion over the identification of the air conditioners. In this scenario, the organization may engage a technician's help to identify the assets.

They can move out of the assets only after the identification process is over. This kind of situation could slow down the workflow of the business.

Enterprise Asset Management System to Identify Your Assets

After the invasion of the internet and the advancement of new technologies, most of the companies have been using the digital enterprise asset management system to secure their assets. This digital system has dominance over any other paper-based register or spreadsheet data entry in every aspect of asset management activity.

Asset Infinity is the effective cloud-based asset tracking and management software with which you can code and track your assets to prevent loss. With this asset tracking software, asset coding and tracking process are performed in a simple and accurate method.

The dynamic barcode asset software allows you to create and design multiple barcode sticker templates for the assets in your business.

You can design and generate barcodes or QR codes for single or multiple assets using an asset tagging feature. A barcode is a machine-readable code printed on an asset in the form numbers and lines. It is used for monitoring assets or stocks. You can scan the barcodes in the application to retrieve all the information of the assets.

Monitor Your Property with the Asset Tracking System

Asset Infinity has an asset management software that gives the users the full authority to control and manage multiple assets. With this tool tracking system, you can check the movement history of single or multiple assets with all the information recorded in your application.

The information may include various data such as type, name, utility, and condition of the assets. During the allocation process, you can check the movement history of single or multiple assets with all information and date-time and user details.

Also Read: Importance of Barcode & QR Code Asset Tracking in Different Industry

Simplify Your Allotment Process

Asset Infinity has a potential property that gives the accurate calculation in the asset tracking system. With this barcode asset management, you can deliver single or multiple assets to users of different departments located at a different workstation.

You can define an expiry date to the assets while being allotted to different persons. You will get reminders for returning the assets.

The asset tracking management software allows you to return single or multiple assets from users of different departments. You can add information - type, name, utility, condition, status, additional files or any other information.

On this dynamic application, you can create PDF documents while allotting assets for sign-off sheet or delivery receipts. The procedure has quick, fast, and simple pop-ups for allotment and returning process of the assets.

Stay Updated with the Assets Tracking Software

When the transaction of the assets is completed, you can export movement history and summary reports of the assets into an excel sheet. Asset Infinity allows you to link one asset to another. All the linked assets will move automatically with the parent asset when the process of allotment or return is completed.

In case you want to discard the assets from the dashboard, you can define your own reasons of discarding the assets whether the assets are lost, stolen, sold or simply discarded.

Conclusion

Each asset needs to be tracked properly and each asset needs are proper Asset code. This asset code works as a unique identification of each asset. It is very helpful when you have a lot of assets that are similar to each other such as laptop pen drives and so on.

Unique Asset code Is helpful in asset tracking and Asset management. for unique asset code Asset can be given a unique identity with Asset tracking technology.

If it sets are not given separate asset codes, then identifying them individually will be a tough task and accuracy will be compromised. Therefore, utilizing a unique asset code is essential for organizations' productivity and in order to keep track of each asset.

Recommend To Read: A Complete Overview of Asset Labeling in the Asset Tracking Software

Frequently Asked Questions (FAQs)

1. What Is Asset Tracking Technology?

Asset tracking technology helps organizations by keeping track of each asset. It provides the accurate location of assets. How? for this purpose asset tags or labels are utilized each asset tag has a unique asset code that helps in asset identification individually. In the market, there are several types of asset tracking technologies available such as barcode QR code, RFID, GPS, BLE, IoT, NFC.

2. How Does Asset Tracking Technology Work?

The asset label has a unique asset code. Now, this label is attached to Asset, and the asset code number is inserted into the asset tracking software system. Whenever this asset code number is scanned it fetches all the information related to it and that's how it works.

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