Types of tags used for tagging in physical verification of assets

Posted @ 12/22/2017 5:05:53 AM by admin Under( Fixed assets verification)


Tagging of assets is the basic requirement of conducting a physical verification exercise. Placing a tag on an asset signifies that the asset has been verified and included in records. Additionally tags contain lots of information about the asset. Some of the details mentioned on the tag are –

-          Company Name

-          Company logo

-          Period of physical verification

-          Unique asset ID

-          Location

-          Type of asset – Furniture & Fixture/ Plant & Machinery/ Office Equipment/ Lease hold item

-          Controlling authority

 

This is not an exhaustive list but a general one. There are many more parameters which can be included on tags.

 

There are different types of tags used in fixed asset verification exercise. Following are the general types of tags available with physical verification of assets service providers and firms –

 

1)      Polyester tags

This is the most common and wide spread used tags. These are multi-functional tags which can be used on almost all surfaces. Simple and functional, polyester tags are highly durable with life upto 3 years.

The only drawback of these tags is that their print starts to face when they are stuck on heat emitting objects. This makes the tag go blank in some time as all the printing on it gets vaporized because of heat.

At AAA asset verification, we put in a lot of effort to get to the bottom of this issue. Eventually we curate a way to treat our polyester tags so as the print won’t fade away. Now we are proud and guarantee the life of polyester tags to be 3 years even on heat emitting surfaces.

Moving on, there are two basic types of format for polyester tags, which the clients can choose as per their own preference

 

-          Bar-code polyester tags

This type of tags contains the most important information of the details of asset on a unique Bar-code generated by our fixed asset management system and software. The unique bar-code is generated as series of thick and thin lines. Various information can be stored in this and can be read by using a 2-D scanner.

The size of these tags is as specified and desired by client and can contain other additional information as mentioned above.

-          QR Code (Quick Response Code)

This is a type of matrix barcode. Only the presentation of information is different from barcode type. Same information can be captured in both the formats.

The advantage and improvement over barcode is that more information can be stored in QR codes. Also the information is better encrypted by QR codes than barcode.

With the QR code scanner becoming an everyday thing now, industry if fast moving towards this new technology.

 

2)      Metal Tags

While polyester tags are highly durable and can be used on almost all surfaces, there is still an issue of using them on heavy duty surfaces such as machines, moving parts, high wear and tear areas, industrial usage, etc.

This leads to highly unusual situation of how to verify fixed assets of heavy type. The solution can be found out in using metal tags.

The Metal tags currently used by AAA asset verification services contain a sub-surface image on a strip of photosensitive aluminum tag with 3M bonding adhesive. These tags are top of the line solution for all requirements. The life of these tags is 10-15 years and has been tested in almost all industrial conditions. These metal tags are easily read by normal scanners too.

The only flipside to this high durability of these tags is the price. Generally price of metal tags are almost ten times that of polyester tags. Having said that when it is considered that the life is almost 5 times and durability is much higher, makes metal tags not so bad a choice.

Eventually the choice is with client. At AAA we suggest a mixture of both types of tags in a fixed asset verification exercise. Physical verification of assets of normal types such as furniture and fixtures, office equipments and light plant and machinery can be covered by polyester tags. This covers the bulk of the assets.

Balance heavy duty plant and machinery or heavy usage furniture and office equipment can be tagged with metal tags. This solves both the problems and lets client have best of both options. Economical polyester tags for bulk of tagging and highly durable metal tags for heavy wear and tear assets.

 

3)      RFID  tags (Radio Frequency Identification)

RFID’s are latest in tagging technology. This contains a radio frequency emitting device in the tag. This frequency can be captured by a supporting hardware device and complete information about the asset can be transmitted by such tags.

These tags are used in high value items. Also moving items which need to be tracked are also tagged with RFID tags.

Needless to say such tags are a bit expensive than your normal polyester tags or metal tags, but the life and durability is very high for RFID tags. Also the utility for high value assets can be immense.

 

So this brings us to the final question so as to which type of tags should be used for tagging purposes. There is no simple answer to that but we hope the above explanation of relative advantages and benefits of various kinds of tags used in physical verification of assets will provide you with clarity of making the decision.

At AAA asset verification, when a client comes to us for a fixed asset verification service,  we generally take the clients FAR ( fixed asset register) and study it, segregating the assets as –

-          P (assets which can be tagged with polyester tags)

-          M ( Assets which need metal tags)

-          R ( Assets which need Radio frequency identification aka RFID)

This classification is done by our experts with long standing experience in conducting physical verification of assets pan-India. This segregated and classified data is shared back with the client for their input. Once this process is finished, with our experience of the nature of assets with client, they get an optimum mix of the three tags for their assets. The cost optimization achieved this way is one of the unique features of our Verification, tagging and reconciliation services of fixed assets.

 


 






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