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.
These labels have changed inform of structure format and sizes as times goes by. This is due to the fact that people have adopted in labeling smaller, mobile or even less valuable assets. This has made people to make tamper proof, small and even incorporate tracking and tracing equipment in the labels. This has made these labels perform extra functions apart from identification alone.
These tags are no longer used for identification alone but they are also used for other reasons such as tracking. Due to advancement in technology, they have now come up with techniques that help in tracking system and activities. This makes sure that if the equipment is stored in the wrong place, it will be retrieved to its right storage place.
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.
Generally, not every equipment require tagging. However, due to the many uses of these labels and tracking systems, organizations find it to be cost-saving to track other assets that are not even considered necessary. Usually, any equipment that requires some sort of monitoring such as location, maintenance, utilization planning or anything else should be labeled. On the other hand, the equipment that need ownership verification and those that could be lost, damaged or stolen should be laballed for security reasons.
These tags also come with different color codes. This makes it simpler and easier to classify the assets or equipment that can be yours. They are used to separate between different uses and classifications of tools. In case of mix-up, it becomes easier to identify as compared to barcodes where reading the codes will take a lot of time.
Existence of these machine readable labels has to great extent reduced errors associated with data entry as well as accounting and typing. In an organization where there are many and diverse assets, accounting and data entry might be hectic. But due to the introduction of these codes, no matter how many assets are there reconciliation becomes very easy.
Labeling, therefore, provides a room for maximum customer satisfaction in terms of easier and simple customer services. Time wasting is reduced. On the other hand it becomes more effective when controlling as well as keeping track of the assets at hand. This increases productivity and profit margins.
These labels have changed inform of structure format and sizes as times goes by. This is due to the fact that people have adopted in labeling smaller, mobile or even less valuable assets. This has made people to make tamper proof, small and even incorporate tracking and tracing equipment in the labels. This has made these labels perform extra functions apart from identification alone.
These tags are no longer used for identification alone but they are also used for other reasons such as tracking. Due to advancement in technology, they have now come up with techniques that help in tracking system and activities. This makes sure that if the equipment is stored in the wrong place, it will be retrieved to its right storage place.
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.
Generally, not every equipment require tagging. However, due to the many uses of these labels and tracking systems, organizations find it to be cost-saving to track other assets that are not even considered necessary. Usually, any equipment that requires some sort of monitoring such as location, maintenance, utilization planning or anything else should be labeled. On the other hand, the equipment that need ownership verification and those that could be lost, damaged or stolen should be laballed for security reasons.
These tags also come with different color codes. This makes it simpler and easier to classify the assets or equipment that can be yours. They are used to separate between different uses and classifications of tools. In case of mix-up, it becomes easier to identify as compared to barcodes where reading the codes will take a lot of time.
Existence of these machine readable labels has to great extent reduced errors associated with data entry as well as accounting and typing. In an organization where there are many and diverse assets, accounting and data entry might be hectic. But due to the introduction of these codes, no matter how many assets are there reconciliation becomes very easy.
Labeling, therefore, provides a room for maximum customer satisfaction in terms of easier and simple customer services. Time wasting is reduced. On the other hand it becomes more effective when controlling as well as keeping track of the assets at hand. This increases productivity and profit margins.
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