A comprehensive guide to asset management to learn how barcodes can be used for asset tracking!

Mondo Finance Updated on 2024-02-01

A typical barcode asset tracking system requires asset barcodes, barcode scanners, and asset tracking software. The operation of the system is mainly divided into three steps:

Companies embed the data into a unique asset barcode, print it, and then link it to a specific asset.

A scanner or mobile device scans this barcode to retrieve the encoded data.

The system sends this data in binary format to a computer, which decodes it and saves it in an asset tracking software database for easy asset management.

A barcode is generated according to a set of standards that dictate its structure and content. Here's an overview of how barcodes are generated:

1.Select the correct barcode type:Different barcode types serve different industries. 1D barcodes such as UPC (for retail), EAN (International Product Labeling), and Code 128 (for logistics) use parallel lines of different widths. In contrast, 2D barcodes, such as QR codes, PDF417, and Data Matrix, store data in geometric shapes such as squares or dots, holding more information horizontally and vertically.

2.Data Entry:Decide what data you want the barcode to represent. This can be a product number, asset ID, QR code URL, or any other type of relevant information.

3.Barcode Generator Software Tools:Use barcode generation software or tools to convert the required data into barcode format. The software will take your data inputs, apply rules for specific barcode types, and generate a visual representation of the barcode.

4.Barcode Standards and Specifications:If you're generating barcodes for a specific industry or purpose, such as retail, you'll need to make sure they meet the necessary standards. For example, UPC barcodes used in the retail industry need to follow the standards set by GS1, the organization responsible for global standards for commercial communications. This usually means getting a unique company prefix from GS1 and ensuring that the generated ** is compliant.

5.Printing & QA:Once the barcode is generated, it can be printed onto labels, products, or packaging. It is crucial to use a scanner to test the printed barcode to ensure that it can be read correctly. Companies need to consider the size, resolution, contrast, and location of the asset's barcode on inventory.

Speed and efficiency

One of the main advantages of barcodes is the speed of data collection. With a quick scan, a product or item can be registered into the system, eliminating time-consuming manual data entry. Not only does this speed up the inventory process, but it also streamlines point-of-sale transactions, making the entire process more efficient and customer-friendly.

Accuracy

Manual data entry is fraught with human error. In contrast, asset barcode scanning greatly reduces the potential for errors, ensuring accurate and consistent data collection. In addition, unlike human-readable data, which changes depending on interpretation, barcodes provide a standardized format that ensures consistent readings, regardless of who scans them.

Cost-effective

When employees are able to process transactions or manage inventory more quickly, businesses can optimize their labor costs. In addition, mistakes can be costly, especially in areas such as inventory management or billing. By reducing these errors, barcodes can help companies avoid the additional costs of correcting errors.

Universal Acceptance

The commonality of many 1D barcode standards ensures their applicability across different industries and regions. Their widespread acceptance means that systems ranging from point-of-sale cash registers to complex inventory management solutions are designed with 1D barcode compatibility in mind, streamlining processes across different platforms and systems.

Scalability

1D barcodes are inherently scalable, able to accommodate both small businesses and large enterprises with large inventories.

Safety

Barcodes enhance product safety in a variety of ways. They are able to track the entire lifecycle of a product, from manufacturing to the end consumer, ensuring greater accountability. This tracking capability not only enhances the visibility of the **chain, but also enhances security measures. Additionally, by assigning unique barcodes to products, businesses can stop counterfeiting, especially when these barcodes are used in conjunction with other security policies.

Enhanced data storage

2D Barcode:Unlike 1D barcodes, 2D barcodes can store large amounts of data both horizontally and vertically. This makes them more suitable for situations where large amounts of data need to be stored, such as patient wristbands that can store a patient's complete medical history, current medications, allergies, emergencies, and plans.

rfid:RFID tags contain microchips that can store a large amount of information, far exceeding the capacity of 1D and 2D barcodes.

Versatile application

RFID No Eyes Required:RFID scanners can read tags without direct line of sight, which makes them ideal for environments where items are not easily accessible.

2D barcodes in marketing:With the ability to store URLs or other digital data, 2D barcodes are increasingly being used in marketing campaigns, bridging the gap between the physical and digital realms.

Increase efficiency and accuracy

RFID scans faster:Multiple RFID tags can be read at the same time, speeding up processes such as inventory checks.

Error correction function of 2D barcode:Many 2D barcodes have error correction to ensure that even damaged barcodes can be read accurately.

Barcode asset tracking is an essential part of the modern business world, and while it has evolved over time, its core principle has remained the same: managing and tracking assets efficiently and accurately. From simple 1D barcodes to data-rich*** and the innovative potential of RFID systems, every evolution is designed to meet the growing needs of businesses. The white code asset management system provides functional modules such as asset registration, asset inventory, asset allocation, and asset maintenance, which can help enterprises achieve accurate registration, real-time inventory and effective maintenance of assets.

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