The era of industrial revolution introduced completely new production processes and technologies to the world. Through these mechanisms, businessmen were able to achieve higher standards of productivity. As mass production of consumer goods increased in the market, so did the labor cost. This change led to a rise in the amount of inventory stock owned by businesses and higher sales became the ultimate goal of the retail markets. But what was the role technology playing in all this?
The first drastic change came in the 1800’s with the invention of the machine-readable punch card. This device allowed people to record a variety of goods. Commonly known today as tracking of assets. In 1960’s, a team of retailers came together to bring to the world to use barcodes, also used in present times. Moving forward 20 years to 1980’s, the traditional tracking system was launched which streamlined asset management even more. Unfortunately, asset tracking system in the 80’s wasn’t as efficient as it is now. The system lacked the functionality of automatically updating asset records. After inventory barcode scanning, information had to be recorded manually into computers.
Sometime later manual inventory tracking was replaced by scanners and ultimately Radio Frequency Identification (RFID) hit the markets around 2000’s. This technology gave way to advance tracking without the product actually being in sight. RFID also allowed the barcode to store more information about the product! Asset tracking software has evolved rapidly over time and is now increasingly being used by tech institutions for complex tasks.
How do tech firms track assets today?
Asset tracking software provides supercharged features best suited for the tech world. The software helps you take control over asset mismanagement issues and lets you do this in the most cost-effective way possible. To give you an idea of how you can use asset tracking software today, let’s look at what it has to offer:
1) Maintain customized asset records
For a fast-growing tech business, it is quite common to outgrow its portfolio every few years. It is not restricted to the basic workflow. This rapid change means that the company acquires multiple gadgets at a time and discards the old ones. A tech business might face challenges when it comes to storing and updating asset information every now and then.
A simple solution would be to invest in a software program that allows you to customize fields according to your specific business model. Customization is everything to a tech business. Asset tracking software puts forward such a solution for your digital asset management needs. It gives you the option to record additional information to your business assets. As digital assets evolve over time like upgrades are done to them and you can label their fields accordingly. This way you don’t have to create new templates every time you add new items to your inventory! You can now store all your asset information under one secure system.
Enter information the right way for various assets in your inventory
Read more: Using small business inventory control software to accelerate sales
2) Get organized through venue and asset bookings
The world of technology never stops growing. How do tech companies create hype to increase sales when they launch a new product? One simple way is to hold large tech events for the new product created by your company. Say, a tech company comes up with a new product. What does it do? To attract attention right away it holds an exclusive live event which is held to launch the newest series of its product line.
A lot goes behind planning such events. In order to run a successful event, it is critical to realize the value of time and plan activities efficiently. One way to do so is to make arrangements for the event beforehand. By doing so, you will save yourself the inconvenience of last minute arrangements. We all are aware of the common network unavailability issue during a live event. It can happen in your next event as well.
You can reserve, book and check the availability of the venue with the help of asset tracking software. Apart from booking venues, you can also find out whether certain equipment is available at the time of your event or not. Planning an event in time gives a higher chance of a positive outcome for both employees as well as walk-in customers. No need to cancel your events just because the venue wasn’t available! Do it all in advance, keep backup venue spots listed and run flawless events!
Book venues for your event for a greater impact
3) Transfer and track assets across locations seamlessly
To make the customer experience more streamlined, many tech organizations offer delivery services worldwide. If you can’t find a specific asset model in your country, you can have it shipped all the way from the same location or any other country. Or while your team is representing your firm in another country, they’ll be using some digital assets as well that might need to be shipped off. This process involves a lot of check-ins and checkouts at stages of clearance, shipment and finally, delivery. Along with this long chain of events, comes the risk of theft and misplacement. Some gadgets are quite expensive and the companies cannot afford to lose them during transfer. So, what can be done to ensure safe transit and delivery of assets?
Cloud-based asset tracking software enables you to seamlessly track all your gadgets at one place. You can assign barcodes to all items you want to ship off and enter their departure location. Whenever the assets arrive at their destined location, information can be updated by scanning the barcodes. Basically, simplified cart management. This way you can make sure your assets reach their desired locations on time without getting lost! Additionally, you can record transfer of stock across locations within the same system and keep updated where your assets are and what action was last taken on them.
Read more: 5 must have small tool tracking software features for your business
The best way forward – Invest in asset tracking software
Technology has taken over the business world, even education, spiritual and entertainment sectors. To create hype about their products, tech giants come up with innovative designs and features to get customer attention. This makes people want to get their hands on the latest gadgets as soon as possible. If you are a tech company or your organization uses any sort of technology, you can boost your gadgets’ life by investing in an asset tracking software today.
Technical gadgets are an expensive investment which can survive quite a few years if looked after properly. Even if you want to plan a tech-related event, you can’t run it without venue and asset reservations prior to the event. To transfer digital devices and equipment across the country, you need to make sure all assets are being tracked properly to avoid misplacement. You can do all this and much more with the help of asset tracking software. Experience efficient business activities and increased productivity!
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EZOfficeInventory is an asset management software used by IT institutes and several businesses worldwide to carry out streamlined activities.
For more assistance, drop us an email at support@ezo.io
