Yet another process where RFID asset tracking can help you with…
Usual wall to wall inventory audit process
If your fiscal year matches the calendar year, you must be in the throes of your annual asset audit. If you currently use barcodes or worse, a highly labor intensive process to do your wall-to-wall audits, we commiserate with you. Having to crawl under desks and lab benches, reach behind assets in order to read off barcodes or serial numbers is not only time consuming, but can also be injurious to your health! Often, teams of people are made to perform these audit tasks and it can take days, if not weeks. Once an audit is done of the entire company, considerable amount of time is spent reconciling the audited list with the list sent by your finance department.
Then the teams have the unenviable task of chasing down those assets that were not located the first time around. Now, equipment owners, lab managers, Principal Investigators and the like, are recruited to participate in the daunting task of having to track down the missing assets. After days of these expensive resources being deployed, the missing asset list is whittled down to a few dozen. The Finance department is then asked to write these items off. All in all, it is a costly and laborious process.
RFID asset tracking solution for wall to wall inventory
By using RFID asset tracking solutions i.e. RFID tagging the assets, using an RFID handheld reader only or a combination of RFID handheld readers and fixed RFID readers, the organization can more efficiently and accurately complete its audits, with nearly 100% reconciliation.
Scanning barcode tagged assets with a barcode scanner takes at a minimum 30 seconds per asset. This typically involves locating the barcode and then aligning the scanner in line with barcode to scan it. Whereas, scanning 100 assets that are RFID enabled takes less than 10 seconds. This enables the customer to be able to perform inventory scans more often and so asset information usually is up-to-date. Additionally, the AssetGather web application keeps track of each and every asset’s movement history. If during the audit process, a critical asset is not found then the AssetGather web application can be used to identify where the RFID tagged asset in question was last seen. This helps save tremendous amount of time for inventory manager who tries to locate an asset in a traditional barcode system.
Our customers have not only seen at least an 80% reduction in audit times, but have also not seen a need to write off inventory due to their inability to locate them. Further, they have realized more than 100% ROI in less than 2 years.
One of our happy customers
“The AssetPulse active RFID solution meets my needs for managing the ALS vacuum equipment pool. The inventory and search capability of the active system is invaluable during the yearly wall to wall inventory of the entire lab. Having an up-to-date inventory record of all assets will cut the time and labor cost to the lab to an ultimate minimum. Previously, wall-to-wall inventory has taken multiple weeks to manually find and scan these assets.”
– Frank Zucca, Lawrence Berkeley National Laboratory
Since AssetPulse web application server keeps track of asset movement history, additional data can be gleaned out of the system like what types of assets are used extensively and how long an RFID enabled asset stays at a particular location. This will help the inventory management team to stock more of these assets so that these assets do not become a bottle neck for regular day to day work.