GPS Asset Tracking: Keeping in the Know
As a company expands and grows, additional assets and liabilities (physical and otherwise) are amassed. Companies continuously acquire anything that aid the maneuver of their business. Thus, administering assets has become a job on its own. The need to consistently manage and track the physical investments of a company led to the development of the method of GPS Asset Tracking.
Technically defined, Asset Tracking is the method used to monitor and track a company’s physical assets. It falls under the process of Asset Management: the process of tracking and monitoring a company’s fixed and movable assets for financial accounting, preventive maintenance, and theft deterrence purposes.
Movable Assets include anything that is part of a building like machinery, equipments and furniture. It also includes commonly moved business items like computers and mobile phones. Fixed Assets, also called Infrastructure Assets, are anything that is attached to a building. This includes road signs, bridges, water and sewer systems, electrical systems, dams, land, and the building itself.
Several methods are used to track assets. The following is a list of the common asset tracking schemes used.
GPS Asset Tracking
Simply put, GPS Asset Tracking is the process of tracking the whereabouts and status of your asset anywhere in the globe using GPS (or Global Positioning System). Keeping a historical-based data trail to be followed for each asset helps to locate assets when needed. It also lessens disruptions in production and avoids the expense of unnecessary replacement purchases.
Barcoding is an automatic identification system that uses labels (known as barcodes) that are imprinted with data to track and monitor a particular product of object. Barcodes are composed of an arrangement of alternating bars and spaces printed onto an asset tag to identify and enable automatic interpretation by an optical scanner to avoid manual input.
Barcodes allow optical digital scanning of alphanumeric characters and symbols into a computers database using Decoders. Decoders are also known as barcode scanners or barcode readers. They read and translate barcodes into digital ID’s, recognize the data and countercheck it alongside a database to identify the tagged item.
Also known as Computerized Maintenance Management System, CMMS track, schedule and monitor preservation activities to supply cost, product item, personnel and all coverage history. CMMS interface with the company’s production scheduling and cost system. They are also used in system-wide preventive maintenance by the government and other large ventures.
Destructible Vinyl Labels
Destructible Vinyl Labels are tags that are used for indoor assets when high security levels are needed. These are a kind of Security Labels that are designed to fracture if tampered with. Destructible Vinyl Labels have a low to moderate resistance to heat, abrasion and chemicals.
Foil Asset Tags
Foil Asset Tags are heavy duty. They are made of 100% with graphics sealed within an anodized layer to produce a highly durable asset label. Put together with a strong adhesive to be attached to the asset, these tags often last longer than the asset itself.