If you’re wondering about the exact function of an asset tag, then keep reading! Asset tags allow you to identify equipment using a unique bar-code or serial number. They are typically labels which contain an adhesive backing. Common materials that are used for an asset tag include laminated polyester or anodised aluminium. You typically find that common designs also include a border that includes your company logo.
We use barcodes on asset tags for two main reasons, firstly, to reduce the risk of field entry errors and to help speed up data entry. The main function of an asset tag has evolved, to accommodate more mobile, smaller and more valuable assets. Due to this, asset tags themselves have changed and become smaller, more resistant to tampering and more closely integrated with tracking software for your assets.
There are four main functions of an asset tag. These are outlined below.
1. Track equipment
Asset tags are used to track equipment or products as they move around from one place to another. Asset tags will stay with the asset itself – over its lifetime. So essentially they are used for a check-in and check-out procedure.
2. Inventory control
Asset tags allow you to tell what assets are actually yours. They are the critical link as you perform audits of your asset list periodically and calculate the value of your asset over its lifecycle.
3. Prevent theft
You can make it easy for anyone to return an instrument or valuable piece of technology to its correct owner. This helps prevent any accidental misappropriation of your asset by another department.
4. MRO information
By scanning a barcode, you can quickly bring the user to a database of maintenance schedules or repair instructions for your asset.