assets can get stolen? What assets do you capitalize? Which
instruments are likely to end up "moving" to another
department or, worse still, finding its way to a sub-contractor's
inventory? Even schools and churches have assets that need
to be marked: AV and sound gear, computers, lab equipment
and, even, cell phones. Asset tags just make it much easier
to track and to enforce your ownership rights.
It used to be that expensive assets were simply the large ones:
a big punch press, a forklift, some large mainframe in the back
room. These days, your assets are much more portable. They look
alike. Tools worth $ thousands can fit into a carry-on case.
The workforce is much more specialized and getting the right
equipment to the right technician can cut lead times in half.
Although certain PC equipment may be less expensive, the files
inside are ever more precious.
As a result more and more hospitals, schools and companies are using asset tags. The benefits are clear:
• Asset tags help you retrieve equipment that has been stolen or lost. Your asset tags can even help provide a record, in case you wish to prosecute criminal activities. And, this, of course, will further deter pilfering.
• Asset tags help provide a visual record of your leasing contracts or other service arrangements.
• Asset tags are typically required by your insurance carrier for record keeping and validation.
• Asset tags are encouraged by police departments to help track stolen items.
• Asset tags are essential for year-end equipment inventories.
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|What does Not need an Asset Label
|In some cases, however, assets should NOT
be marked. It might be impossible or not practicable
to mark certain capital assets. Examples might
• Warranty Impacts. Some
small equipment, if marked, could obsolete
the associated warranty.
• Loss of Value. Placing
an asset tag on an antique should be approached
• Existing Asset Number.
Some companies rely upon a car's VIN. Other
company's add their own asset tag.
• Obviously, you cannot
place an asset tag or asset label on certain
assets. You cannot mark land,
or most furniture and fixtures.
• Any asset that is consumable
also does not need an asset label or tag. Asset
labeling is generally confined to assets such
as furniture, electronic equipment, computers,
cell phones, machinery, fire protection devices
and extinguishers, appliances, tools, packaging
equipment, AV equipment and other "real" assets.