Whether you work in retail, manufacturing, tech, or any large organization, you have most likely come across asset tags. Asset tags make it possible to track specific items over time. Whether they’re used to keep track of inventory or to keep employees accountable for work equipment such as computers, these are valuable tools for protecting company assets. Learn about the basics of asset tag labels and why they are essential.
What Is an Asset Tag?
Sometimes called a Property ID Label, an asset tag is a small, simple, permanent-adhesive label that usually includes a barcode that users can scan. Once scanned, this barcode will allow users to view the entire lifecycle of the product. Users will have a complete timeline of events and details such as:
- When the asset was purchased
- Where an asset is located and when it has moved
- When the asset was assigned to an employee
- Which employee the asset was assigned to
- When and to whom the asset was reassigned
- When the asset was upgraded or underwent maintenance
- Loans of the asset
- Retirement of the asset
For example, an organization may use asset tags to track staff computers. By leveraging the technology behind asset tags, a company can learn common patterns and better predict supply costs. For example, it may become clear that the chosen brand of laptop used only has a lifespan of five years before it needs to be retired. This information can help financial teams budget for equipment replacements with more accuracy.
Implementing a system that leverages asset tags can help discourage theft and better protect your equipment and inventory. Suppose you hand out laptops to all new employees without asset tagging. In that case, you risk never seeing some of those laptops again when some employees leave. On the other hand, tagged assets are much more likely to be returned because users know that there is a record of the fact that the laptop was checked out to them.
The data available when organizations leverage asset tags is incredibly valuable with a wide range of uses and implications. Learn how to create custom asset tags that protect your inventory and equipment.
What Should Organizations Include on Asset Tags?
Asset tags are generally relatively small and include only a few factors. Custom asset tags typically have:
- Barcode or QR Code: Generally speaking, every asset tag needs a barcode or a QR code. The barcode or QR code is the detail that allows you to pull up all relevant information on the lifecycle of any given piece of inventory or equipment. These codes are helpful in inventory audits, accounting compliance, budgeting, and theft prevention efforts.
- Unique Identification Number: The vast majority of custom asset tags also include a unique identification number or a serial number. This number allows organizations to keep a record of all inventory, assets, and other equipment and to look up their status and whereabouts without having to scan the physical barcode. These can also help if barcodes are damaged. Organizations can use unique identification numbers to classify and categorize their inventory and assets for internal processes
- Logo: A logo is not required on an asset tag. Still, in some cases, it can help protect your assets and allow users to identify that it belongs to your company easily. In addition, if your company is utilizing unique tools, equipment, or technology that you’re proud of, then including your logo on asset tags is a great way to subtly spread the word about your innovation.
- Company Contact Information: If your company leverages equipment that may be easily lost, stolen, or misidentified, it may help to include company contact information on your custom asset tags. For example, tablets can easily be mistaken for one another and a traveling employee may misplace one. Contact information on an asset tag can increase the chances that you will recover lost equipment.
Types of Asset Tag Labels
While most asset tags incorporate the same primary elements, there is a wide variety of materials to choose from. The appropriate material for your asset tags will depend on various factors, including:
- What are you labeling, and what is it made of?
- Will your assets be exposed to high temperatures, direct sunlight, or cleaning products?
- What is the shape of the surface needing the label? Curved surfaces require different materials than flat ones.
- Is there a theft concern? Some tags are very difficult to remove, which can help prevent theft.
Incorporating custom asset tags into your inventory management and asset tracking processes can help you save time, gather data, prevent theft, and better understand the lifecycle of your equipment and other assets. For fast turnaround time, free logos, and free online design, create your asset tags with Maverick!
