Here‘s Why You Should Be Using Asset Tags

Asset tags are essential tools that allow businesses to efficiently track equipment, manage maintenance, and control inventory. If your company isn‘t currently utilizing asset tags, here’s an in-depth look at why you should consider implementing them along with best practices for maximizing value.

What Are Asset Tags & How Do They Work?

Asset tags are labels equipped with barcodes, QR codes, or RFID (radio frequency identification) technology that uniquely identify items in your business. They can be affixed to tangible assets like electronic devices, tools, machinery, furniture, vehicles, and inventory. Scanning or reading these tags gives you real-time visibility over the location and status of your tagged assets.

[Diagram showing asset tags placed on various assets like laptops, warehouses shelves, shipping pallets]

While barcodes and QR codes require line-of-sight to be read and contain minimal data, RFID tags offer more advanced capabilities. RFID uses electromagnetic fields to automatically capture tag data without needing direct scans. Beyond location monitoring, RFID can also leverage wireless connectivity and embedded sensors to remotely monitor the condition and handling of tagged assets.

Types of RFID Tags

There are three main categories of RFID tags:

Passive RFID – Powered by the electromagnetic energy transmitted from RFID readers rather than batteries. Lower cost but very short read ranges (up to 10ft).

Active RFID – Powered by onboard batteries allowing for unsolicited transmission over 100+ ft. Higher cost but long read ranges. Often used for tracking higher-value assets across sites.

Semi-Passive RFID – Mix of both. Battery assists when tag is read rather than always being on. Lower cost than Active RFID but longer read ranges (~100ft).

[Table comparing specifications like frequency, standard, read range, size, and cost for different RFID tag varieties]

In summary, while barcodes present an affordable method for basic inventory tracking, RFID tags unlock advanced capabilities from real-time item level tracking across locations to condition and shipment monitoring.

Track Your Business Equipment Efficiently

Lost and misplaced assets like electronic devices, tools, and machinery lead to wasted employee time and unnecessary replacement costs. With asset tags, you can pinpoint equipment location on-demand rather than relying on static inventory logs which quickly become outdated.

RFID tags in particular enable automated, instantaneous equipment tracking with minimal staff effort required. Longer range RFID labels can be perpetually read across wide operational areas. RFID readers installed at exits can automatically detect tagged assets leaving the premises and send alerts. Dedicated mobile RFID devices also allow staff to localize misplaced equipment based on embedded tag signals rather than visually identifying items.

[Photo showing employee locating a tool by scanning area with a handheld RFID reader]

GPS asset trackers paired with cellular connectivity take geo-tracking to another level. Companies can monitor location and movement of off-site assets like vehicles and remote workforces based on GPS updates. Sensors can additionally track status parameters like fuel levels, temperature breaches, and operating hours.

Recommended RFID Tag Locations

Adhering tags in optimal locations ensures persistent readability regardless of asset orientation or environment:

• Electronics (laptops, printers, etc) – Affix to exterior casing out of sight
• Tools/Machinery – Attach to handle avoiding areas that could block signal
• Furniture – Place underneath out of sight
• Inventory – Embed within packaging rather than directly on products

[Diagrams demonstrating optimal RFID tag placement for different asset types]

Following universal tagging conventions will maximize system interoperability if assets are transferred between facilities using different vendors. Common tactics include prepending assets with ‘A’ and using standardized numbering schemes on tags like:

Format: A[Asset Type ID]-[Site ID]-[Sequential Number] 

Example: A-IT-101-00015
Breakdown: Asset Type: IT, Site #101, Asset #15

This improves the portability of tagged items across standalone tracking systems.

Document Maintenance & Repair

With asset tags storing up to 64KB of rewritable data, they can digitally encapsulate vital item information like operating manuals, service & repair records, deprecation timelines, and warranty details. Scanning a tag lets you instantly access instructions for conducting preventative maintenance or determining an asset’s remaining usable lifecycle.

Tags thereby provide tighter control over maintenance workflows. Rather than relying on paper logs, staff can enter upkeep activities directly onto durable RFID tags. Supervisors gain real-time maintenance records to coordinate additional required tasks. Sensor data can also automatically relay servicing alerts based on runtime hours or equipment irregularities.

The benefits are significant:

• 11% average increase in asset lifespan from consistent maintenance ([stats report])
• 22% reduction in asset downtimes when maintenance guided by digitized manuals ([asset study])

Control Inventory & Prevent Theft

For warehouses and retail stores, asset tags underpin essential inventory and loss prevention capabilities. Individual barcode labels traditionally allow basic product tracking as items arrive in backrooms. However RFID tags unlock real-time visibility into exactly which items sit on shelves, storerooms, or in-transit at any given moment.

Cutting-edge RFID capabilities even extend beyond simple inventory tracking:

1. Asset Protection – Tags with embedded alarms can detect products exiting premises and dispatch alerts to thwart shoplifters.
2. Order Fulfillment – Warehouse workers are guided to precise item locations when filling orders based on RFID scans rather than relying on trending reports.
3. Shipment Monitoring – Sensors reveal handling breaches like temperature deviations so damaged stock can be refused rather than accepted blindly.

Paired with warehouse management and point-of-sale systems, RFID furnishes managers with granular data on true stock quantities. Reorder points can be determined based on real-time inventory levels rather than projected averages thereby reducingsafety stock buffers. Omnichannel visibility from warehouses to shelves also improves order orchestration and delivery reliability.

Results Speak for Themselves

In a landmark use case, apparel retailer Levi Strauss & Co equipped one stockkeeping unit (SKU) across five locations with RFID tags. Within 18 months they recorded $2 million in incremental sales and an over 15% out-of-stock reduction.

Such implementations may require considerable upfront hardware investments like registering products with serialized RFID labels and installing RFID readers across sites. However based on results above, tag licensing fees averaging $0.10 per unit pay themselves back rapidly.

Why Now is the Time

As legacy barcode tracking methods reach their limits supporting volatile omni-channel fulfillment, RFID and next-gen asset tagging unlock essential visibility. Implementing a comprehensive tagging system maximizes asset accountability across your equipment, maintenance workflows and inventory.

Now widely commercially deployed rather than just experimental trials, advanced asset tags promise to soon become as ubiquitous as traditional barcodes. The long-term rewards of highly accurate asset monitoring capabilities easily justify onboarding these technologies now before gaps in operational oversight grow too severe.