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  • Metquay Inc Consulting Team

5 Reasons Why Your Company Needs an Asset Tracking System

Updated: Jan 14

Asset tracking software helps companies keep track of inventory, assets, and other important information. It also allows for easy data entry and reporting.


They Help You Manage Inventory Better.


An asset tracking system will help you manage inventory better. This means you won’t need to spend as much time searching for items when you need them. Instead, you can simply enter the item into the system and see where it is located.


Also when they are due for calibration, the asset tracking or gage tracking system can send your alerts to make sure you calibrate them on time saving you costs related to compliance issues and downtimes.


They Provide Visibility Into Where Assets Are Located.


In addition to helping you find items faster, asset tracking systems also provide visibility into where assets are located. You can use this information to make sure you aren’t wasting money on shipping costs. If you know where an item is located, you can save money by not having to ship it across the country.


They Can Be Used To Monitor Equipment Usage.


An asset tracking system can help you monitor equipment usage. . It can also help you track when the equipment was last used. This helps you take a decision to procure more such equipment to increase productivity and asset longevity.


They Can Help You Identify Lost or Stolen Items.


Asset tracking systems can help you identify lost or stolen items. If you find something that belongs to you, you can use the asset tracking system to report it as lost or stolen. Each asset will be mapped to an individual asset owner and when the asset changes hands it could be tracked in the system which helps make asset ownership accountable.


They Can Help You Reduce Overhead Costs.


Asset tracking systems can also help you reduce overhead costs. Overhead costs such as paying a premium for quick turnaround calibrations, fines for not complying with quality standards, legal issues, etc could be avoided if you manage your assets using good asset management software.


To signup for a free trial of our cloud-based asset management platform follow this link https://www.tracefii.com/


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