FIXED ASSET TAGGING

What is Asset Tagging?

The process of affixing tags on assets to identifying them individually and track their data
from real-time location to maintenance history. These tags are assigned to both assets, fixed and
moveable, which are spread across sites and warehouses. This enables businesses to achieve a
comprehensive view of all their owned assets. Asset tags gives us a wide range of data tracking
possibilities specially when used along with a computerized system such as Asset Tracking Software.
Data that can be collected by an Asset Tracking

Software include:

Real-time location
Users
Purchase history
Maintenance schedules
Depreciation value

The Importance of Asset Tagging

It’s easier to track usage, repair, and maintenance actions.
Saves time on looking for equipment data and history.
Simplifies precise data collection, to determine which its lifetime stage, evaluate the condition and criticality.
Because the data is so reliable, it helps make accurate and better-informed decisions.
When it’s part of an integrated maintenance strategy. It promotes timely preventive maintenance actions.

All pieces of equipment are identified and some technologies work remotely, it can help prevent theft.

What are different types of Asset Tagging

Simple Barcode: a simple and quick option, but one that requires a stand-alone database. This makes access to information more difficult.
RFID Barcodes: These are complex compared to others, as the code on these tags are linked to a radio signal, which makes them work as a “chip”, and can be integrated with GPS technology. RFID does data collection in real time, and makes them more safer and reliable. RFID barcodes can be read for a long range so they ideal for less accessible assets.
NFC Tags: These tags let you register data in real-tome and access it quickly (tags can contain only the ID, and redirect to a cloud based software). You can use these devices from your smart phone as they don’t require any new devices. However, they only work in relatively short distances ( a few centimeters), and you have to purchase tags with specific features for outdoor use.
QR Codes: Just like NFC these can be read with your smartphone and they are completely visible, which can be a disadvantage with certain assets.

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Please note that this memo is for information purposes only and should not be construed as an advice. It does not necessarily cover every aspect of the
topics with which it deals. You should not act upon the contents of this alert without receiving formal advice on your particular circumstances.

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