Basic asset management is a name scrawled on some valued property with a permanent marker or inscribed with a pen knife. Not very attractive on an expensive new possession but it might help the police ID it if recovered after a theft. The next best options are paper or plastic labels imprinted with the owner’s name, address and phone number. These however can be easily scraped off by a thief or degrade due to normal environmental conditions. Ultimately, high-quality permanent asset tags made from aluminum or polyester are the preferred choice for property identification and tracking.

In general, the average person is satisfied knowing that their property is properly identified.  Businesses however, have a greater array of needs. Assets like tools, furniture, heavy machinery, computers and electronics are important capital which must be optimally utilized to maximize the profitability of an investment. Downtime, damage and theft must be minimzed or eliminated. Ideally the asset must be operating at peak performance 100% of the time. Smart businesses implement an asset management solution.

The main components of an asset management system are —

A common method to identify a variety of property, usually an asset tag or label A database to collect the information related to the property; Software to automate and exploit the information; A device, like a barcode scanner, to connect the asset to the software and database

The core of the program are asset tags or asset labels. On each tag a number and/or bar code is printed. Bar codes are simply graphical representations of alphanumeric data which reference entries in the database. When the asset tag is read by an individual or barcode scanner the stored information can be retrieved or new data can be recorded. Choosing an asset tag is dependent on the type of asset and the conditions it must endure.

Information the asset tag references can range from very simple to extremely complex —

The name and description of the asset Location and condition Who the asset is assigned to Original purchase value and date, annual depreciation amount Warranty details, service records and contact info Extensive component and replacement parts information Machine specifications and calibration data For computers – a list of installed software

This aggregate data can be very valuable if used properly.

The unifying element in an asset management system is the software. The best software is designed to be user-friendly, highly configurable and scalable to perform a broad range of functions. Choosing asset management software depends on existing conditions and desired features.

Deploying an asset management system is quite easier than most think. Once the software is installed, asset tags are affixed to assets and scanned to begin a new record. Then all the asset’s sata can be added initially or over time.

An optional component, portable data collectors or bar code scanners are only necessary when asset tags are imprinted with a bar code symbol. For asset tags, Barcode 39 or Barcode 128 are most common. They can greatly automate inventory, movement and usage of property. For large companies or complex situations involving myriad assets, bar code readers are indispensable. Numerous assets can be scanned and batch processed or records updated in real-time with software which supports wireless data transmission.

As mobile assets like tools, laptops and vehicles move in and out of a control area, attached asset tags are scanned and attributes like location, condition and user are updated. For routine tasks like maintenance and upgrades a scan or reading of the assst number reveals the asset’s current state and sets the stage for ordering components, configuring options and updating the record. These are just a few of the handy tasks automated by a well-organized and executed asset management system.




By: Kanoa Helms