Asset Tagging Is Essential For Effective Supply Chain Management

Knowing the whereabouts of your shipment is very important in supply chain management. Whether you are a buyer or supplier, you need to track your goods to ensure they reach the correct destination. The points of arrival and departure are crucial for both buyers and suppliers, and implementing asset tagging can be very helpful in this process.

Tags will help you locate the assets and make accurate predictions in the stages of production. They can optimize the production process and identify gaps more efficiently.

What is the purpose of asset tagging?

Asset tagging is the process of affixing tags or labels to assets to identify each one individually and track data from real-time location to maintenance history. These tags can be assigned to both fixed and moveable assets that are spread across multiple sites and warehouses, enabling businesses to achieve a holistic view of their owned assets.

For instance, a container leasing company can put tags on its containers. This will help simplify the process for all parties. The company can track its containers so the risk of losing merchandise is close to none. Additionally, the shipping line can keep physical records, and both the importer and exporter can stay updated on the shipment.

To put it simply, asset tagging will simplify the process for all the parties involved. Regardless of the trading line, giving an object an identity reduces the chance of misplacement. Asset tagging helps:

• Ensure efficiency,
• Reduce delay,
• Increase security, 
• And enhance compliance. 

Improve supply chain management with asset tagging

Asset tracking in supply chain management is an absolute necessity. Supply chain optimization relies on reliable, fully functional asset management software. Here are a few ways it can improve supply chain management.

Record accurate quantity

Knowing the quantity of the assets helps companies understand their capabilities. They will know how many orders they can handle. Without this, there is always the possibility of taking orders or consignments exceeding the company’s capacity.

Clear Communication for Tracking

Companies that deal with moving assets always need to stay updated. For them, a clear communication channel is very important. Luckily, with CloudApper, you can track the tagged asset and also provide some with your phone. 

Improve Warehouse Management

Rising warehouse costs constitute a genuine issue for many manufacturers. Due to poor planning, companies end up with lots of goods that take up tremendous space. Knowing the time frame will allow companies to utilize less space as they can plan the production process accordingly.

Accurate Demand Planning

Companies operate with the goal to sell a certain amount of products or services within a specific time frame without increasing their expenses. With proper tracking, they can predict their success rate. For example, if the shipment is early, it will increase the warehouse cost. And if it is late, the company might lose customers or have to find alternatives. Asset tagging will help find the sweet spot.

Asset Tagging with CloudApper Assets

CloudApper Assets provides an easy solution to track and maintain assets. Regardless of which industry you are in, maintaining your assets will always be beneficial for you. With CloudApper, simply tag your assets and start to track them with your smartphone. You don’t need any other device for this.  

Asset tagging helps you optimize your warehouse storage, meet customer demand, avoid asset misplacement, and identify gaps in your supply chain management. Contact us now and try out CloudApper Assets.