In today’s fast-moving business world, companies rely heavily on their fixed assets to function smoothly and efficiently. Whether it’s computer equipment, vehicles, or machinery, these assets are vital for operations. To streamline asset management processes and ensure precision, many businesses opt for fixed asset labels.

Many businesses and sole traders today have also become mobile. We have seen the rise of digital nomads, travel bloggers, and businesses with employees who regularly travel which has led to a growing need for efficient asset management. One practical solution that addresses this need is the use of asset labels or an asset tagging system.

Fixed asset tracking labels serve as a tool that can greatly assist with accurately tracking assets, whether you work for yourself as a travel blogger as I do, are a digital nomad, or run a business with employees that travel regularly. Learn how you can apply and maintain asset labels to enhance overall asset management.

Best Practices for Applying and Maintaining Fixed Asset Labels

What Are Asset Tracking Labels?

Asset tracking or tagging labels are labels or tags used to identify and keep track of physical assets within a business or one’s own personal assets in the case of a travel blogger. These assets can range from office equipment, electronics, and machinery to tools, furniture, and inventory items.

In the case of digital nomads and travel bloggers, assets can come in the form of luggage, backpacks, laptops, cameras, smartphones, photo equipment such as tripods or lighting equipment, and other travel gear. Asset tagging labels usually contain a unique identifier, such as a barcode, QR code, or alphanumeric code, that can be scanned or read for quick identification and tracking.

Each label has a unique code to distinguish one asset from another and should be made from durable materials to withstand wear and tear from regular travel. Many asset tags feature barcodes or QR codes that can be scanned with a scanner or smartphone for quick data retrieval. Labels can be customized with company logos, social media handles, asset descriptions, or other relevant information.

Common types of asset tagging labels include barcode labels, QR code labels, RFID tags, metal asset tags, or tamper-evident labels which are designed to break apart or show clear signs if someone tries to remove them.

Using asset tagging labels simplifies inventory management and tracking of assets, reduces chances of loss or theft by maintaining a clear record of where your assets are, and ensures accurate accounting of assets for financial reporting and audits which can make tax time less stressful.

Why Asset Tagging Matters

Travelers who regularly travel for business working for themselves or for a company can and do make use of asset tagging systems to keep track of their belongings, enhance security, and streamline their travel experience.

For digital nomads, travel bloggers, and business travelers, managing valuable equipment and personal items can be challenging. Losing important or expensive gear or misplacing vital documents can disrupt workflows, cause significant financial loss, and increase stress levels. Asset tagging helps mitigate these risks by providing a simple and effective way to keep track of belongings, ensuring they are easily identifiable and retrievable.

Asset Tagging for Digital Nomads

Digital nomads often travel light but carry high-value items that are crucial for their work, such as laptops, smartphones, cameras, and external hard drives. They can use durable, tamper-evident labels on laptops, tablets, smartphones, and cameras. You’ll want to include QR codes that link to contact information, your social media pages, or a website such as your blog.

Be sure to tag chargers, cables, power banks, and other essential accessories to avoid losing them. Likewise, tagging backpacks, suitcases, products you may be reviewing as an influencer, and even smaller items like jackets can help keep track of all these personal belongings as well.

Asset Tagging for Travel Bloggers

Travel bloggers rely on a range of equipment to create content and share their experiences. Asset tagging can help ensure that vital gear is always at hand and secure. Tag items like photo and video equipment to prevent loss and make identification easier if lost or left at airports or hotels.

Use labels on tripods, microphones, and lighting equipment to keep them organized and easily retrievable. Tag all luggage with durable labels containing contact information and scannable QR codes for easy identification and recovery, whether its checked baggage, carry-on, or day backpacks you plan to use when out and about at destinations.

Asset Tagging for Businesses with Traveling Employees

Companies with employees who frequently travel for work need to ensure that their staff’s equipment is secure and accounted for. Implementing an asset tagging system can offer numerous advantages.

Equip all company-issued laptops, tablets, and smartphones with asset tags to track and secure them. Tag portable office equipment such as projectors, presentation tools, and portable printers to manage and track their usage. Use asset tags on travel documents, business cards, and important files to ensure they are not lost or mixed-up during travel.

For businesses where employees travel with uniforms or specific gear, tagging these items can help in keeping them organized and accounted for. Ensure tags have clear contact details or QR codes linking to a recovery service or website. Customize labels with your company logo and specific information relevant to each item.

Choosing Your Fixed Asset Labels

The initial step in establishing a fixed asset labeling system is selecting the appropriate label for your assets. It’s important to consider materials that can withstand environmental conditions such as extreme temperatures, humidity, or exposure to chemicals.

Opt for labels that resist scratching and tearing to maintain readability over time. Select labels with strong, permanent adhesives to prevent peeling off during travel. This is particularly important for items that undergo frequent handling which is the case with items going through airports or train stations. Ensure the adhesive works well with different surfaces, such as plastic, metal, and fabric, to accommodate a wide variety of items.

Moreover, selecting a label size that aligns with your requirements is critical. While more prominent labels may be suitable for assets, they may not be practical for items like desktop computers or devices with limited surface area.

Customize labels with your company logo, colors, and specific information relevant to each item. This helps in easy identification and branding. While it’s important to choose high-quality labels, consider the cost per label and ensure it fits within your budget, especially if you need a large quantity. Look for suppliers that offer discounts on bulk purchases, which can save costs if you require extensive tagging needs.

Proper Placement of Fixed Asset Labels

 

Proper placement of fixed asset labels is crucial for ensuring they remain effective and durable during travel. For travelers and businesses with traveling employees, strategically placing these labels can help maintain organization, security, and ease of identification.

After determining the type of label, ensuring proper placement is vital for effective tracking. When deciding where to place labels on your travel gear assets, make sure to choose a spot that won’t get damaged easily from use or maintenance.

Avoid sticking labels on areas that are prone to wear and tear or frequently touched by hands or equipment. Keep in mind that visible labels may attract thieves, so think about this when selecting the location for your fixed asset label.

When it comes to luggage, place labels on a flat, clean surface such as the side or top of the suitcase. Ensure it is easily visible and not likely to be covered by luggage straps or tags. When it comes to laptops, projectors, printers, or other larger electronics, you can place the labels on the bottom near the edge, avoiding areas that might get hot or are heavily handled. Make sure labels don’t cover any vents or screws.

Ensure Consistency in Asset Label Information

Ensure that the information on your fixed asset labels follows a format. This consistency is critical for organizing your asset management system. Use a layout that includes details like individual ID numbers or barcodes along with descriptions and departmental connections.

By maintaining uniformity in the details on your fixed asset labels, you’ll make it easier to keep records and identify assets no matter who’s responsible for tracking them. Decide on a consistent set of information to include on all labels, such as asset ID, contact information, company logo, and a barcode or QR code. Use a standardized format for all labels. For example, always place the asset ID at the top, followed by the company logo, and then the contact details.

Label assets as soon as they are acquired and added to the inventory. This ensures that no asset is left unlabeled. Ensure that any changes or updates to asset information are reflected across all labels and the database. Schedule regular audits to check for label wear and accuracy, updating any necessary information in both the labels and the database.

Use Technology for Efficient Tracking

 

Utilizing technology in your fixed asset management can significantly enhance efficiency. Implementing barcode or QR code labels allows you to track assets quickly by scanning them with a smartphone or dedicated scanning device.

You can use RFID tags for high-value or frequently moved assets. RFID readers can scan multiple tags at once, even without direct line-of-sight. Connect RFID tags to an asset management system to automate tracking and logging of asset movements. RFID is particularly useful for tracking assets in real-time, improving inventory management, and reducing the risk of loss or theft.

Investing in a software system for tracking assets allows you to centralize all data related to each asset, making it easier to keep track of its lifecycle, assign tasks, and schedule maintenance when needed. This helps reduce work and lowers the risk of mistakes while providing real-time information for your assets.

Think about using cloud-based asset management software to centralize all asset information and make it accessible from anywhere. Cloud solutions provide flexibility, real-time updates, and enhanced collaboration among teams, regardless of their location. Look for software that offers features such as asset tracking, maintenance scheduling, usage logs, and reporting.

Consider mobile applications that allow you or your employees to scan asset labels, update asset status, and report issues using their smartphones. This enables real-time asset management on the go, increasing efficiency and reducing administrative burdens.

Establish Maintenance Procedures for Labels

To extend the life and effectiveness of fixed asset labels, create procedures for their upkeep. Regularly check the labels to ensure they are not damaged or coming off due to wear and tear or environmental factors.

Consider including checks on label readability and clarity during equipment audits. This ensures that your asset management system remains reliable over time. Conduct routine visual inspections of all asset tracking labels to ensure they are intact and legible. Verify that labels are securely adhered to assets and there are no signs of peeling or detachment. Look for signs of wear, fading, or damage to the labels caused by environmental factors or handling.

Promptly replace any labels that show signs of damage, such as fading, tearing, or illegibility. Be sure to remove any residue from old labels before applying new ones to ensure proper adhesion.

Educate Employees on Label Identification and Usage

Educating employees or yourself as a self-employed travel blogger on how to use an asset label system and the benefits of doing so is essential for maximizing the efficiency and effectiveness of asset management.

Training employees if you have them is crucial for ensuring accurate tracking using fixed asset labels. Provide training to all staff on how to identify labeled assets and correctly use secure asset management tools.

Giving employees knowledge about labeling processes will help reduce errors and prevent any confusion about their roles within the asset management process. Teach yourself or employees how to scan asset labels using barcode scanners, smartphones, or other scanning devices. Instruct on inputting relevant information into the asset management system when scanning labels, such as asset location, status, and maintenance history.

Provide training on how to navigate and use asset management software or apps for tracking and managing assets. Set up user accounts and permissions within the software, ensuring that necessary employees have appropriate access levels based on their roles. Guide employees on how to enter and update asset information in the software accurately.

Implementing practices for applying and maintaining asset labels significantly enhances overall efficiency in managing valuable business assets. Ensuring you choose the tags consistently, positioning them correctly, keeping label data uniform, utilizing tracking systems, establishing maintenance procedures, and offering staff training are all crucial elements for effective fixed asset management.

By following these recommended methods, travel bloggers, digital nomads, and companies with travelling employees can improve accountability, track assets effortlessly during audits or checks, lower the chances of theft or loss, and keep better records of assets. Embrace these strategies and witness your business flourish with asset management practices.