Asset management is the application of a variety of systems and tools to ensure that every physical item of value to your company is monitored and if need be, maintained.

Usually, assets need to be tracked if they are critical to the operation of the business, present a significant liability risk if they fail, or a significant cost if damaged, lost, stolen, or misused. Some companies just choose to prioritise the highest value, most at risk items.

There are many classes of assets that could be tagged:

Machinery: Transformers, hydraulic power units (HPUs), turbines

Equipment and Tools: Computer equipment, power tools, ladders, fire extinguishers.

Vehicles: Company vehicles, maintenance vehicles, train carriages, mobile cranes. Tagging and tracking these are essential for ensuring they are properly maintained and are available when needed.

Overall, tracking these asset types will benefit your business by:

  • Reducing overhead
  • Simplifying tracking of assets
  • Enabling comprehensive tracking of maintenance and downtime
  • Enabling businesses to track costs
  • Reducing costs associated with loss and theft of assets

Asset labels at the very minimum, need an identification code that you can trace back to a list of assets. Barcodes will speed up the process of managing your assets and improve accuracy. Traditional barcodes like those on supermarket products are a place to begin.  These codes are like a registration plate on a car, the registration plate tells you nothing about the car it simply refers back to a database which stores the information.  The use of a barcode provides a fast way of scanning a code that you use to refer to your list, but a 2D code is much more powerful. 

2D barcodes allow the use of rectangles, dots, hexagons, and other geometric patterns and can contain hundreds of times the amount of information as 1D barcodes. The most common is the QR code which is very flexible and can be read by any smartphone with the proper app installed.

Other 2D codes have increased security and may be smaller in size than a QR code such as a data matrix code.

Where 2-D codes are useful is where you want to store information about the asset on the label. Using a 2D barcode you can store paragraphs of information about an asset – the make and model, serial number, date of purchase, purchase cost, etc. 

2D codes can encode a URL so you can scan your code, go to an asset webpage and see all the asset information you need.  You can share and update asset information. You can record information such as who serviced it, when it was serviced and what was done to it.

Asset Tags have many benefits that can help simplify how you manage your assets.

Before starting on your asset management journey, it would be beneficial to take a complete inventory of your assets, record all asset information, create tags that can be read by both scanners and the human eye, and most importantly develop strict controls for tracking assets as they are acquired, moved, maintained, and disposed of. This will ensure the information will be accurate, and any decisions made will be based on up to date information.

The Prolab® Asset labels are made from a durable metalized polyester with a strong acrylic adhesive to ensure long-term bonding.

Typically, they can be used to label both assets and equipment. They are available in either silver or white and there are 2 sizes. These labels are designed for internal use, as a guide to their durability, the final printed (white) label has been successfully independently tested for 3000 hours accelerated UV ageing.

Silver Fox provide a wide range of labels suitable for Asset Management, for more information contact our Sales Team

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