Asset Tracking: Issues, Returns and Reservations

Aug 30 2016

For organisations with equipment that often changes hands, keeping tabs on those items is crucial. Many companies find that expensive assets are lost or stolen if an up to date record of their location and current owner is not kept.

Managing the location, status and condition of each asset at an organisation is a key business activity, especially when it comes to expensive equipment that is frequently on the move. The information needs to be kept current at all times, meaning that a physical audit once a year is no longer sufficient for a company that wants to make the most of its assets. Moreover, there is also the operational nightmare of making sure that items are available for use when required.

In order to manage these portable assets efficiently, many companies are turning to specialist mobile tracking solutions. Utilising such a system allows an organisation to use its employees’ existing smart devices to issue, return, reserve and monitor assets.

Real Asset Management offers this exact type of mobile asset tracking app (available on iOS, Android and Windows Mobile). The Issues, Returns and Reservations aspect of the solution is a hot topic at the moment, with so many companies needing to manage inventories of valuable equipment. By using RAM’s app, its customers are able to cover such scenarios as:  

  • Asset Discovery – Users are able to search for specific assets that meet their requirements by entering relevant criteria. For example, one customer uses the system to filter IT hardware by version number, model and software release type, enabling members of the company’s development team to ensure that they perform testing on the correct items.
  • Issues/Reservations – At some customer sites, the issue and reservation cycle is seen as a single process and is managed accordingly. Users can access the system to find an asset and if it is available, they will have the option to issue it to themselves or reserve the item for a later date. Having current information regarding asset location and current ownership available at all times allows organisations to benefit from massive time-savings as it removes the need for employees to physically search for assets and lets them know who is currently what they require.
  • Returns – Once a user has finished with an asset they have been issued, they will return it. With the asset tracking app, a smart device can be used to scan the barcode label that is attached to the item to record that it has been returned, thus completing the transaction.
  • Email Alerts – These can be configured to be sent automatically whenever certain stipulations are met. For some customers, emails have been set up to be sent to the current user of an item with the asset manager copied in, reminding them about return dates. Emails can also be triggered if an asset has not been returned and somebody else in the organisation is looking for it, helping them to locate it and minimising losses for the company.
  • Physical Auditing – Whilst the solution caters for all the above scenarios, it also features comprehensive fixed asset auditing functionality. Users can use their smart devices to download the latest copy of their asset register, carry out a physical audit by scanning the assets on site and then upload the completed audit information into the centralised database. This provides a crucial service to businesses as it gives a full account of the location and status of assets whilst allowing organisations to verify what they actually own.