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Barcoding assets important for successful asset management

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Asset management is an important facet of any business operation. Traditionally, companies conduct annual or semi-annual audits, but without proper management of inventory on a daily basis, these audits can be a nightmare.   

POSMarket.com.au recommends using barcodes on all assets to enable successful inventory management.

To facilitate barcoding for an asset management exercise, everything in the organisation should have a barcode label attached somewhere for tracking purposes. Asset quantities and varieties, turnover and environmental factors must all be considered when choosing the type of labels to use.  

For instance, pre-printed or fabricated labels are ideal for a small number of assets, all of which are rather large and have to be stored outdoors. In such cases, a metal plate with the information stamped or etched onto the surface could be glued or riveted onto the asset, or pre-printed weatherproof labels with adhesive backing would also be suitable.

Investing in a label printer and printing one’s own labels would probably be the most affordable solution if one has a large number of assets and the labels change frequently. This option allows a business to produce their own labels as needed, printing the barcode onto either paper or polypropylene labels.

The next step involves scanning all of these assets using portable barcode scanners. The scanned information can be sent either by wireless connection or more commonly the unit's docking station for uploading to a database, spreadsheet, or any asset management software.

The Portable Data Assistant (PDA) is also becoming popular in recording the barcoded information. Similar to miniature computers, the PDA enables the user to access a multitude of software applications to enhance the data collection process.  

These can often provide an extension of a PC or Unix based inventory control program in which the data is captured and the system is updated through either Bluetooth or WiFi wireless connections. Due to the variety of functions these units can offer, they are quickly becoming the preferred method of asset management for business professionals.  

Regardless of the method, barcoding assets is the best way to keep track of everything, saving time and money by dramatically reducing inventory discrepancies and ensuring a more accurate count every time.  

In addition to barcoding solutions, POSMarket.com.au offers a wide range of POS equipment and software.

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