Physical assets are often on the ground to be used; Undergoing repairs, sold, updated, deleted or stolen. From purchase to disposal and all steps in between, an asset’s history can be easily traced and reviewed using an asset management system that uses asset tags or tags of assets.
Once the asset is purchased/commissioned, the organization affixes asset tags with descriptive information such as asset number, expense code, asset description, cost center, and a bar code.
Barcode Label Considerations
If you plan to use barcode labels to facilitate your inventory, there are some aspects to consider beforehand. You need to decide which style of barcode you will use. The “Code3of 9” style is popular and readable by most scanning devices. You will also need to consider the type of label media that best suits your business operations.
Label paper type
Label paper ranges from tough metallic formats that are difficult to remove from assets to less expensive and reasonably durable “indestructible vinyl”.
Label media type
- Resistant metal formats
- Cheaper indestructible vinyl
Scanning devices
You need to decide how many scanning devices you will need if your operations are split between cities or states, or you can decide to send a single device to different regions when it is their turn to perform a asset inventory.
Number of scanning devices
- Single device sent from HO
- Multiple devices in prime locations
Label printing
Then you have to think about printing the labels. There are many companies that pre-print your labels with asset numbers for you. Alternatively, you may decide to purchase your own barcode printer and design a custom report in your FA system to print a range of numbers. A barcode is printed by sending a series of escape characters to a special printer, which decodes the escape characters and converts them into barcodes. It’s easy to include your company name and actual asset number on the label for further identification. Proper escape characters are usually listed and explained in printer manuals. The following image shows a reasonably simple, yet effective barcode.
Barcode style
- 3of9 code is readable by most devices
- Tailor-made ERP
Label printing
- Buy pre-printed labels
- Use barcode printer with custom software
Assessment factors:
- Relevance of tags
- Support network
- Compliance with standards
- Availability of solutions
- Solution flexibility
- Solution Compatibility Solution Integration
- Solution scalability
- Solution cost
- Supplier partnership