Companies require thousands of asset tags in order to organize their equipment in an effective manner; therefore it is crucial that these tags are accurate and up to date. The accuracy in asset tags is highly important in asset-intensive companies as it helps identify and keep track of their equipment. Tags must be unique because they correspond to different equipment and provide useful information about them. It is also very important to keep these asset tags in check because it allows everything to be organized and in one place. Organizations must be able to easily find the location of their assets, who interacts with them, how many they have and what maintenance must be done. Otherwise, the asset-intensive business will struggle with inconsistent tags, allocating tags, or getting personnel to comply. So what happens when an asset-intensive company struggles with poor tagging?

Consequences of Poor Tagging

Manually inserting the different information that a tag requires is time-consuming and could lead to human error. This could result in duplicates, inconsistency and/or missing asset tags. These errors would make it nearly impossible to locate the equipment, or when located, to know valuable information regarding it. Tags are important for classification and how to find other pertinent information which is why it is highly important that the unique tags are accurate. When there is human error, businesses must retag all equipment to avoid confusion about incorrect or missing asset tags. This is not only costly, but also time consuming, as you would have to be doing twice the amount of work. Since there are many consequences with manually inserting information, what other options are available to you?

A Better Solution?

Certain asset-intensive companies choose to use naming conventions for their asset tags, making it easier to identify all necessary information regarding that piece of equipment. Though this is a smarter solution, these businesses tend to struggle with the creation of the tags and keeping them unique. Is this solution better than manually inputting the information? Not necessarily. Although this method prevents human error, it still adds complication because you would have to implement your own naming conventions, hoping it would be easy to follow. Without an automated system, this can get very complicated.

To automate the process of reserving and assigning the asset tags requires an automated workflow process for equipment tag allocation. In this system, you can have multiple levels of approval, or none. Requests can be rejected, or approvers can request additional information. This minimizes any confusion between personnel and is easy to follow.

How NRX Can Help With Asset Tags 

NRX AssetHub allows companies to filter and search existing parts easily from both descriptions and attributes and find potential matching SKUs amongst all existing parts through one single powerful search tool across all attributes. It offers supplemental content, like vendor manuals and legacy parts descriptions, as well as the ability to select parts visually from a hot-pointed illustrated book. In addition, NRX AssetHub is fully integrated with EAM/CMMS solutions so you know where your spares are used and on what equipment!

For more information on how to revolutionize the way your company finds and selects materials in your EAM system, give us a call at 1-877-603-4679, or click here to book a demo. We look forward to helping you improve your materials search and selection processes!

Share this article