What Roles Do Inventory and Asset Tags Play?

BY Rowena Taylor

Inventory and Asset Tags

You may have heard of the term “inventory and asset tags” a few times in the past and wondered what exactly do these things do? To help you understand what these tags are, what these can do for you and your business, and where these are usually used, here are a few FAQs about inventory and asset tags:

What are inventory and asset tags? – as the name implies, these are tags that are used for inventory purposes and for asset tagging. These are used to help companies keep track of their assets, as well as inventories, either for maintenance purposes, inventory control, asset tracking and even for theft prevention.

Where can I use these tags and labels? – these tags, or labels as some people may call them, can be used on what companies call physical assets and inventory. Physical assets are essentially items that companies consider as having some value. These include furnishings, equipment like calculators and laptops, appliances and maintenance equipment, and many more. Inventory on the other hand include items that your company has in stock, either for sale or use by employees, and these can include equipment that employees use on the job.

What types of inventory and asset tags can my company choose to use? – the tags and plates that you can choose to utilize will depend on what you need these for. Different kinds of asset and inventory tags come with different features that are ideal for the kind of need you have. For example, one particular asset tag that some companies use will leave behind some residue that alerts you to the removal of such a tag from the item. This particular tag is not only used for asset tracking but also for theft prevention.

Another type of tag that companies may find themselves using are metal nameplates that come with spaces that you fill out for inventory and asset management. Some of these may even carry barcodes to make it easier for people to keep track of items since the machine readable codes on these tags can be easily scanned with the help of an optical reader. Once scanned, the information on these tags can then be collated via computer and kept track of the same way.

The tags that you use can also be categorized according to the material that is used. Some tags need to be heavy duty, others need to be impervious to changing temperatures, and still a few more need to be lightweight but tough at the same time. There are many different kinds of tags that can be used for different purposes and some of the choices you have include aluminum foil tags, stainless steel tags and polyester labels.

Why does my company need inventory and asset tags? – as mentioned earlier, these tags serve many purposes, and these often depend on what material is used for the tag, what information is placed on these labels, where these are attached and so on. One of the reasons why most companies use these tags is for the purpose of maximizing the usage of their equipment and inventory. Since you will be able to see which items came in first, you can use the first in-first out (FIFO) method of utilizing inventory that your company has. These tags can also help prevent theft and can also help your company keep track of how much you spend on refurbishing or buying new equipment when the ones that you have break down. You can also keep track of maintenance work, lifespan of equipment and other similar tasks with the help of these inventory and asset tags

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