An organisation’s ability to effectively manage and track the whereabouts of its tools, equipment, and movable assets is essential to its success. Managing personnel qualifications, certifications, training and their expiration dates, provides governance around the use of critical operational assets. Ensuring only personnel with the correct certification can have access to certain assets.
Comprehensive asset management systems give organisations the tools to monitor, maintain, and track their assets and usage, to ensure that equipment is used well, maintained properly and downtime is minimal. Reliable information provides the peace of mind required to confidently address an organisation’s asset governance, risk and compliance needs and help realise the implementation of the ISO 55000 standards framework.
What Is Asset Tracking and Auditing
Asset loss or mismanagement is a significant risk to any organisation since assets can move around both within a location, among personnel, and outside, among service providers. Assets tracking, in its simplest definition, is a method to track the whereabouts (location) of an organisation’s physical assets using asset tagging (such as Barcodes or using GPS or RFID tags). By recording an asset tag and its location and/or custodian you can verify (asset auditing) that an asset physically exists within your organisation’s asset management software and is also physically locatable. Periodic audits confirm location, assigned person, custodian, and condition.
Benefits Of Assets Tracking
Asset Accountability and Allocation
Maintain accountability for a wide range of assets and equipment so you can be always certain about who has what and where with a complete audit trail of all movements, and history of transfer of custodianship.
Asset Tagging
Selecting appropriate asset tagging and scanning technologies is necessary for effective asset management in order to track and verify an asset exists (asset auditing). The right mix of technologies enables thorough audits, quick asset transactions, and upkeep, guaranteeing a thorough audit trail throughout the asset’s existence. Deciding on which type of asset tag to use (RFID and/or Barcode) is determined by the quantity of tags required, budget, type of tracking you require, where you wish to place the ID tag and the environment they will be exposed to.
Enhanced Inventory Control
Consumables management allows for accurate tracking of parts and inventory. It ensures that inventory levels are always optimised. This helps prevent shortages or overstocking, reducing costs associated with excess inventory.
Improved Availability
Accurate tracking of tools and equipment via asset tags streamlines organisational operations. Manage the issue and return of items so you know ‘who has what’, ensuring that items are returned. This reduces downtime and delays in operations, leading to increased productivity.
Increased Accountability
Tracking the usage of tools and equipment by individuals ensures only personnel with the correct certification can have access to certain assets. This promotes accountability among employees, helps prevent loss, theft, or misuse of tools and fosters a culture of responsibility within the organisation.
Streamlined Maintenance
Automate maintenance schedules and track the maintenance history of tools and equipment. This guarantees that items receive consistent maintenance and remain in excellent condition. It makes them last longer and cuts the risk of failure. Well-maintained tools and equipment reduce the risk of accidents and injuries. This increases workplace safety.
Compliance and Reporting
Generate detailed reports on item usage, maintenance activities, and inventory levels. This helps organisations follow regulations. It also provides valuable insights for decision-making and process improvement.
Authorised Access to Assets
Record personnel certifications, accreditations, courses and impairments for controlling asset restrictions by integrating into your HR. Identifying personnel qualifications and impairments creates diligence around the responsible issuing of assets and meets safety and compliance requirements.
Hardcat’s software solutions provide governance around the management of critical operational assets ensuring only personnel with the correct certification can have access to certain assets. It helps enterprises improve the use, upkeep, and management of their assets. Hardcat assets tracking solutions enable efficient and automated processes. It also gives wide and instant visibility of asset information over its entire life.
