Saturday, February 4, 2017

Why Asset Labeling Is Important For Your Business

By Mary Walker


Nowadays, almost every business ceaselessly strives to reduce their daily expenditure and in the process save money. If your business has lots of physical assets, knowing their operating condition is important and their location. Therefore, investing in asset labeling can help your company save a lot of money in the foreseeable future. Make a point of implementing systems that will help prevent the assets from being stolen or misplaced.

One good thing about labeling is the fact that it makes it quick and easy to identify assets. As such, you end up not spending hours or your precious minutes tracking down something that you need to complete a task. Time wastage is one thing that increases expenditure, and you end up using a lot of money. When your employees spend less time tracking down assets, productivity is realized. Labels let you quickly get to any assets in seconds.

When you have your valuable possession labeled, you can maintain compliance with any regulatory agency. It is a requirement by the state that industries be regulated especially those dealing with sensitive products. The good thing about labeling is that you get a data set that is comprehensive thus you can maintain compliance whether the business is directly or indirectly accountable. As such, you can develop resolutions and identify issues quickly.

The use of labels simplifies inventory management. Inventory management takes a lot of time and can be frustrating for a product oriented business. Labels provide you with endless possibilities when used in conjunction with a software application that deals with assets. Labeling results in effective asset management which in turns leads to efficient inventory management.

When your assets are labeled, you deter theft and unauthorized transfer. Use of labels is one of the convenient ways of increasing security and one of the biggest benefits you can achieve. When your label valuable items with a durable barcode, you keep off thieves as they are less likely to swipe such items to avoid getting caught. Also, some labels will provide evidence of tampering.

Labels are proving to be among the best methods of monitoring your fixed assets. If the maintenance and status of the assets are becoming a challenging task, using labels is a decision you will not regret. You can attach the labels with the use of permanent adhesives and also you can choose to customize them to bear the name of your business. A label can help you make an insurance claim as it proofs the materials were in stock.

A Label can have a barcode printed on it. The barcode feature is important as it can be used for audit checks. As such, auditing can be done very quickly and efficiently by scanning the barcodes at the same time using the assets management software.

Labeling your asset is a good practice in any organization. When someone tries to remove a label, it leaves a void mark and as such crooks can have a hard time trying to resell your products if the label is destructible by itself. Also, you can claim your products by scanning the barcode.




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