Organisations across various industries leverage asset tracking to monitor and improve the way they utilise their assets and resources, thereby improving their bottom line.

Asset tracking refers to the process of tracking an organisation’s assets to collect important information like the location, condition, and maintenance history of assets. Efficient asset tracking offers various benefits like improved asset efficiency, reduced asset repair and replacement costs, increased productivity, and more.

If you are seeking ways to enhance your asset tracking process and not sure where to start, the following tips will guide you.

Integrate an automated system
Asset tracking software takes manual labour out of the asset tracking process while boosting accuracy, efficiency, and productivity. This is why many organisations are shifting to asset tracking software to track their assets. Integrate the right asset tracking software into your organisation after carefully analysing your needs. Choose a system with complete asset management features to enjoy the real benefits of asset tracking software.

Understand what assets you have
Once you have integrated the software into your organisation, have a clear picture of assets that you have to manage. Populate your asset register with all of the necessary details and make sure it is done using user-friendly software.

Focus on asset lifecycle
Full asset lifecycle provides a clear picture of assets at every stage – from procurement to disposal. Work on the basis of asset lifecycle and use accurate forecasts to schedule periodic maintenance of your assets. This will help you to plan for asset repair or replacement more precisely.

Ensure preventative maintenance
Leverage your asset tracking software to devise a preventative maintenance plan. Your system can provide regular updates on the condition of your assets, helping you to know when certain assets need maintenance so you can schedule the appropriate maintenance. With timely maintenance, you can minimise downtime, avoid interruptions, and save on unnecessary asset repair and replacement costs.

Do not overlook ghost assets
Ghost assets are those that are lost, stolen, or no longer usable but are still listed in the asset register. Having ghost assets that are overlooked or not properly tracked can result in inaccurate and incomplete records, thereby leading to poor decision making related to assets. Thus, keep tabs on the location and condition of your assets to ensure that you do not overlook any ghost assets.

Leverage comprehensive, real-time reporting
Use the reporting feature of your asset tracking software to ensure that you have complete visibility of your assets, including their performance, location, and where they are in their lifecycle. If you do not use the reports, it is almost as if you are not tracking your assets properly.

Improved asset tracking can boost asset performance, reduce unnecessary expenses, and enhance the overall productivity of an organisation. Once you have integrated asset tracking software into your organisation, leverage its tracking, maintenance, and reporting features to make the most of your software.

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