One quite underrated yet critically important asset management system is equipment tagging. Unfortunately, despite being implemented by many businesses, it is one of those systems that go by unappreciated, but this article is guaranteed to be an opinion-changer. For those unfamiliar with equipment tagging, it is the process of putting tiny metallic tags on equipment to distinguish and identify each asset. Depending on a business’s needs, such a tag could contain everything from equipment specifications and usage instructions to tiny barcodes, which is a blessing for taking inventory. Having said that, here’s why the tag is vital.

It Takes Equipment Identification to the Next Level

Small-scale businesses with very limited equipment might not face much trouble when keeping track of their assets, but things start to get a little harder as a business grows. Equipment tags are relatively inseparable from their equipment, they help you maintain a solid knowledge of your equipment’s state at all times. Not only that, but since you can custom order a tag, you can determine the information you want visible on your equipment: weight, capacity, last repair date, date of purchase, branch number, and so much more.

It Eliminates Human Error

Who among us isn’t guilty of mistaking one number for another, especially at the end of a workday? While it’s an unforgivable mistake when dealing with high-value equipment, there is an easy solution for it: digitizing data. The development in technology, according to Metal Equipment Tags | Equipment ID Tags | Metal Marker Mfg, allows for adding a barcode to your chip. With this little number, you can gather and record any piece of information about the smallest piece of equipment with zero human error risks. An employee merely scans the barcode with a phone or a specialized device, which then logs the data onto the business’s computer system, enabling authorized personnel to add and edit the information on the machine. Simple, highly efficient, and you will no longer need to take a physical inventory, extremely environment-friendly.

It Keeps Everything Safe and Accounted For

Picture a machine transfer. An employee at a branch notifies another employee at a different branch that a shipment will be arriving in a couple of hours. The first employee documents the transfer and faxes the paperwork to the other branch to continue the documentation on their end. What should be a simple process with one machine up for transfer can be a nightmare with multiple pieces of equipment, particularly the small, high-risk assets that tend to get lost in large transfers. On the other hand, imagine scanning tags, and they’re logged in instantly on the system where you schedule them for transfer. A couple of hours later, the receiving branch’s manager confirms the transfer has been received for each of the scanned barcodes. Proper tagging also reduces all chances of theft or property loss.

To sum up, equipment tagging is a procedure that helps keep the documentation of equipment easy, fast, and as accurate as possible. It’s not only valuable during the day-to-day life of the business, but it also matters in the long-term. A properly implemented identification and tagging system will help you calculate depreciation rates, notice any irregularities or discrepancies, and know when a piece of equipment is draining you in terms of repair costs. All in all, it’s a powerful system to implement if you haven’t already.