Using Inventory and Asset Tags to Prevent Company Losses

inventory and asset tagsDid you know that a lot of companies actually lose a lot of money due to missing company assets and the lack of an effective asset tracking system? Some businesses who fail to implement an inventory and tracking system for their assets often lose a lot of money annually, and they sometimes do not realize it. Things that are sometimes deemed minuscule or insignificant by people when these disappear, like staplers and calculators, can actually add up to a tidy sum when it is discovered that quite a few have disappeared over the years.

To prevent such losses, it is imperative that you have an inventory and tracking system in place from the time your company starts operating. This system should have inventory and asset tags as one of the tracking tools being employed to help keep items from being unaccounted for. Having these tags on your company’s assets not only help remind people that these are owned by your business, but it also makes doing annual or semi-annual inventories easier.

There are a few different types of tags that you can choose to use for your inventory and asset tracking needs. The most commonly used ones are labels that can be easily attached to any item. The problem with ordinary labels however is that these can also be easily removed, making these items easy to take out of the company premises as well.

One of the types of tags that you can choose to use in the place of ordinary paper asset labels is destructible vinyl. These tamper evident tags are so difficult to remove that anyone who attempts to do so once these are attached to your company’s property will have to do so bit by bit. These tags fall apart when any attempt to remove is made, which means that when someone attempts to do so, they will be left with visible evidence of tag tampering, which can be embarrassing since this indicates the intent to pilfer.

Another type of tag that people can choose to use is the metal nameplate. This is not ideal for all kinds of items though, but is a great option for when these tags are exposed to harsh conditions. You may want to consider these metal inventory and asset tags for equipment that are exposed to changing weather, heat, cold, chemicals, and other tough situations.

One thing you can consider using, whether you decide to go for metal tags or for label-type ones, is to employ barcodes. These codes can make both asset management and inventory tracking easier since you simply need to scan the barcode to find out more about the item in question. You can also easily see what items are missing from your stock after you scan everything that you have.

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