It is difficult for an organization to operate efficiently, let alone have any competitive advantage, if it does not have direct control over all its assets at any one time.
As a business embraces the myriad technological advances of modern times so it seems that items of equipment and necessary tools swell the corporate inventory. As each asset becomes more and more entwined with the organization's processes and procedures, the implications become more and more dire should an asset be misplaced or its location be placed off track at any time.
Reaction times can be increased should an emergency of some kind occur. When time is absolutely of the essence, resources may not be available to conduct the necessary search for the assets in question and valuable resources can be wasted and money lost should it be necessary to purchase replacements.
Asset tracking should be an integral part of an enterprise operations manual. When a company successfully follows this methodology, it can not only reduce potential loss of equipment but it can also optimize inventory size.
Asset tracking methods can incorporate the latest advances in technology and communication and sophisticated measures can now be made available cost-effectively. One of the solutions to this issue is to incorporate asset tagging, using specially design software programs. Once tagged, each asset is categorized and the information stored within a database. Each asset can be identified with a unique bar code and additional information can be stored, including photographs to aid in identification of both asset and its location.
Asset-management and tracking are an essential part of a company's efficient operation, as part of a total visibility approach. An automated system can help to ensure that problem assets are identified and courses of action suggested, repairs initiated and completed with the maximum possible efficiency. As companies become more and more liable for their carbon and greenhouse gas emissions, it is essential that asset operation be streamlined and a constant process of monitoring and comparison initiated for best effect.
As budgetary compliance is more important than ever it is important that an enterprise achieves near-perfect return on its asset investment and where capital replacement is necessary, all processes including delivery and installation be achieved on perfect time and within budgetary parameters.
For the complex commercial or industrial business it is no longer good enough to guess and second guess the location of vital assets. Furthermore, the assets must be known to be in good working condition and as part of an energy using process contain, as much as possible, the impact of emissions on our environment.