Basically, labels are used on assets to identify them using a bar code or a unique serial number. In most cases the materials used for these labels are laminated polyester or an anodized aluminum. The commonly used designs for these tags are company logos, as well as a border that has contrast to the equipment. However, barcodes are used in asset labeling to enhance data entry and minimize errors in the entry fields.
Over the years, the function of these equipment labels has changed in order to accommodate more mobile, smaller and valuable assets. As a result, even the labels have changed as well to smaller, tamper-resistant and closely integrated with the equipment tracking software. Generally, these labels on equipment have various functions.
Tracking has now become a role or a function of a label. This becomes very important aspect since the tool can be easily tracked or traced to its location. For example, if the tool is placed in a crib and it is forgotten, it is very easy for a person to track it and retrieve it back to a site of construction. They help in locating equipment so that they are kept in safe custody. But the label should never be removed for that matter if you want to track the equipment.
When it comes to accounting, inventory, and asset finance audit, they play a very major role. When calculating the asset worthiness, one does not have to go around taking down the data but only using a barcode reader which will calculate all the assets at a very accurate, easier and effective manner. They also keep thieves away because no one can dare steal an equipment bearing in mind that it will be retrieved.
Due to the effectiveness of these tags, even assets that are of less importance to an organization tend to be tagged. This is because the costs associated with obtaining new ones when these are lost becomes expensive as compared to the cost of labeling. When it comes to ownership verification, they become very effective because the owners have different ways and unique tracking systems.
In some cases, color coding is used on the assets tags. Color coding is usually used for quick visual identification of department responsibility or ownership. Again, it becomes easy to identify the item to scan for a certain purpose in several assets are similar in form yet they differ in function. Also, color-labeled tags may be used instead of bar codes if the organization has limited assets.
On the other hand, bar codes offer machine readable recording, error-free, and prevention of manual transcription errors that are caused by humans. These bar codes are usually necessary and valuable for educational and business institutions with diversified inventories of physical assets that require monitoring, tracking, and maintenance.
Essentially, the process of labeling assets plays an important role in offering better services to customers. While equipment labeling reduces unnecessary spending by proper control of the assets, the end result is an increased customer satisfaction. As a result, your profits are boosted as well.
Over the years, the function of these equipment labels has changed in order to accommodate more mobile, smaller and valuable assets. As a result, even the labels have changed as well to smaller, tamper-resistant and closely integrated with the equipment tracking software. Generally, these labels on equipment have various functions.
Tracking has now become a role or a function of a label. This becomes very important aspect since the tool can be easily tracked or traced to its location. For example, if the tool is placed in a crib and it is forgotten, it is very easy for a person to track it and retrieve it back to a site of construction. They help in locating equipment so that they are kept in safe custody. But the label should never be removed for that matter if you want to track the equipment.
When it comes to accounting, inventory, and asset finance audit, they play a very major role. When calculating the asset worthiness, one does not have to go around taking down the data but only using a barcode reader which will calculate all the assets at a very accurate, easier and effective manner. They also keep thieves away because no one can dare steal an equipment bearing in mind that it will be retrieved.
Due to the effectiveness of these tags, even assets that are of less importance to an organization tend to be tagged. This is because the costs associated with obtaining new ones when these are lost becomes expensive as compared to the cost of labeling. When it comes to ownership verification, they become very effective because the owners have different ways and unique tracking systems.
In some cases, color coding is used on the assets tags. Color coding is usually used for quick visual identification of department responsibility or ownership. Again, it becomes easy to identify the item to scan for a certain purpose in several assets are similar in form yet they differ in function. Also, color-labeled tags may be used instead of bar codes if the organization has limited assets.
On the other hand, bar codes offer machine readable recording, error-free, and prevention of manual transcription errors that are caused by humans. These bar codes are usually necessary and valuable for educational and business institutions with diversified inventories of physical assets that require monitoring, tracking, and maintenance.
Essentially, the process of labeling assets plays an important role in offering better services to customers. While equipment labeling reduces unnecessary spending by proper control of the assets, the end result is an increased customer satisfaction. As a result, your profits are boosted as well.
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