All industries have assets. These may include stock that can be used to provide services or sold for profit, employees, and property with value. Property assets also include equipment the company uses to perform critical tasks and buildings and vehicles owned by a company.
Asset tracking is the process used to monitor the status and location of physical assets. Although asset tracking may vary in some industries, asset management is an essential task for all industries. Understanding how asset management works can clarify how asset tracking applies to different business sectors.
Tracking Assets
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An effective asset tracking software solution offers immediate access to asset information that’s essential to your operations. Asset management software enables you to use your mobile device to locate assets. By scanning a barcode or QR code, your asset tracking software can tell you when to submit a work order to schedule routine maintenance or which employees or contractors signed out specific assets. You can also reserve specific assets you need for upcoming projects to ensure you’ll have the required resources to complete tasks. This allows you to increase efficiency across the board. Your asset management software also allows you to manage assets through their lifecycle, determine when an asset’s warranty will expire, and follow a straightforward removal process when assets are sold or discarded. With that in mind, let’s take a look at some industries that make good use of an asset management solution.
Tattoo Parlors
Tattoo artists are professionals who inject ink into a person’s skin to create a permanent image. Ensuring that tattoo artists discard used needles and maintain a clean environment is crucial for customer safety. Needles can spread infections, which is why tattoo parlors must manage their assets properly.
Tattoo parlors also manage assets when they schedule appointments. Schedulers must know which artists are available and ensure they have the skills required to perform the requested services. Failing to account for your artists’ schedules can result in overbooking, which can frustrate customers and affect your company’s reputation.
It’s also important to understand which assets may be needed for tattoo removal. A customer may opt for dermabrasion or laser tattoo removal, which will determine what supplies are required and which staff are qualified to provide the requested services. When a potential client Googles “tattoo removal near me” and contacts your company, you want to ensure you can efficiently meet their needs. Professional tattoo removal companies offer free consultations, which should also be factored into the schedule to ensure your employees don’t fall behind schedule.
Education
The education industry has numerous assets to monitor. While providing instruction is the focus of the education industry, academic facilities need teachers, teaching assistants, academic facilities, desks, and computers to perform this task. Asset management software can be used to determine which buildings or classrooms are available or provide technicians with location information when they need to schedule computer maintenance or repair assets.
Retailers
Retailers use assets and sell assets. Merchandise that hasn’t been sold is considered an asset because it has value and increases your company’s current assets on hand. An effective asset track system enables warehouse staff to scan barcodes and add income assets to company records. Useful software will remove assets from your records when they’re sold. When asset tracking happens in real-time to reflect current sales, you can be confident you know precisely how much stock is on hand. When a stock is low, you can order more stock from your vendors.
Manufacturing
Manufacturers need assets to produce products. Assets include ingredients combined to create a product and the tools and staff needed to perform the product creation steps. Manufacturers use effective asset software solutions to determine when to order supplies, identify where assets are located, and allocate assets to specific tasks.
Healthcare
To provide effective healthcare services, healthcare providers need to manage their assets. Medical facilities that run out of personal protective equipment can’t safely care for individuals with highly contagious illnesses. The COVID-19 healthcare crisis has highlighted the need for healthcare facilities to track beds, medications, and other resources, such as ventilators.
All industries benefit from tracking their assets. Effective asset management can ensure that employees have the resources needed to provide services and perform tasks.
