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Wednesday, February 8, 2017

Why Asset Labeling Is Important For Your Business

By Mary Walker


What one of the key requirements for any manager is ensuring is ensuring the traceability and security of the products with the organization. The most convenient and common way of achieving this goal is through asset labeling. The primary form to go about this is through bar codes and sequential numbering. Asset labels make it possible to track the history of your products as it shows all the steps from purchase to disposal.

When your assets are labeled, it becomes quicker and easier to identify them. With labeled items, time wastage is significantly reduced as you will not end up wasting precious minutes or spending hours tracking an item that you urgently need to finalize a task. When time is properly managed, expenditures are significantly reduced. The result is saving good sums of money. When less time is used tracking down items, employee productivity is achieved.

If you are serving a heavily regulated industry, you ought to make sure that you are equipped with an efficient process to capture and report on data so that you prove compliance. Asset labeling will enable your organization to stay on top of regulatory requirements. If you want to streamline your reporting requirements completely, consider using labels and a comprehensive tracking software solution. You can end up generating detailed reports in minutes.

Another advantage of using labels is that you get to simplify inventory management. Inventory management consumes time and a frustrating task your business faces if at all its product oriented. You get endless possibilities when you use labels in conjunction with a management software application dealing with assets. It becomes easier to manipulate data for analysis.

When you label your goods, you can deter unauthorized transfer and theft. As such, labels are an ideal option when it comes to increasing security for your products. What you need is a barcode that is durable. With such a barcode, thieves are kept off since there will fear getting caught swiping your assets. If items have been tampered with, a label will provide evidence.

Labels are proving to be among the best methods of monitoring your fixed assets. If the maintenance and status of the assets are becoming a challenging task, using labels is a decision you will not regret. You can attach the labels with the use of permanent adhesives and also you can choose to customize them to bear the name of your business. A label can help you make an insurance claim as it proofs the materials were in stock.

It is wise to have a barcode printed on your labels. Audit checks are more efficient and convenient in the case of barcodes. Barcodes allow the auditing process to be performed quickly by scanning the barcode. When combined with the use of an asset management software, auditing is done quickly.

Labeling your valuable possession is a practice that is highly encouraged in any business. Avoid mark is left anytime someone attempts to get rid of the label. Therefore, a crook will have a difficult time when they are trying to resell a product with a label. Also, scanning a barcode can help you claim an item.




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