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Asset Identification

By Graphic Products Editorial Staff

Asset Identification example barcode

For Want of a Nail

Even when a small, low-value item is missing, it can result in major impact on your business. Asset identification provides a system that allows tracking of assets, monitoring of asset status the need to replace assets, and the ability to locate needed assets. Asset identification provides asset visibility delivering a number of significant benefits:

  • Eliminate purchases of equipment you already have
  • Save time finding needed items
  • Prevent theft and loss of tools, equipment and other assets
  • Have the ability to manage warranties, service contracts and upgrades
  • Helps ensure proper preventive maintenance
  • Improves inventory control
  • Improves the ability to determine depreciation
  • Eliminates unused/unneeded tools and equipment (support 5S)

A hidden cost in many organizations comes from lost, misplaced and missing assets. Asset identification helps prevent the unnecessary purchase of equipment, tools, parts, and supplies you already have. The savings resulting from just this one benefit frequently pays the cost of implementing an asset identification system.

Asset identification is critical for tracking the navigation of spare parts, for collecting data from inventory control points, and providing information for you Warehouse Management System (WMS).

For want of a nail the shoe was lost.
For want of a shoe the horse was lost.
For want of a horse the rider was lost.
For want of a rider the message was lost.
For want of a message the battle was lost.
For want of a battle the kingdom was lost.
And all for the want of a horseshoe nail.

Using Barcodes for Asset Identification

Quality barcode labels make asset identification more accurate, cost-effective and reliable. Barcode labels are easy to make, if you have a DuraLabel printer. Quality barcode labels make entering asset tracking and condition data fast and simple. They provide a secure way of marking assets, and since barcode labels can also be read visually, they are easy to maintain.

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