What is QR Code Asset Tracking and How Does it Work?

QR Code Asset Tracking has emerged as a low cost and reliable alternative for companies to monitor and manage their assets easily. This article delves into what QR code based asset tracking systems are, their benefits, and how to apply them.

Understanding QR Code Asset Tracking

QR Code Asset Tracking employs Quick Response (QR) codes that are affixed to physical assets. The two dimensional barcodes include details about the asset such as its identification number where it is located and its maintenance history. Reading and writing the asset information in real time is facilitated by scanning the QR code with a smartphone or by using a specific QR code scanner. 

How Does QR Code Asset Tracking Work?

QR code asset tracking system implementation generally entails the following process:

1. Identifying Assets: Each asset will have its own unique QR code with information attached to it.
2. Labeling: The QR codes are labeled and printed onto the corresponding assets.
3. Scanning: Staff scan the QR codes with a smartphone or scanner to receive or retrieve asset information.
4. Data Management: The scanned information is collected in a centralized database with real time monitoring and control of the assets.

Benefits of QR Code Asset Tracking System

It has a number of advantages:

• Affordability: The cost of producing QR codes is low and can be read by commonly available smartphones without any need for additional devices.
• Ease of Use: The process of scanning the QR codes is easy, hence the system remains easy to use.
• Real-Time Information: Real time updating of the asset information makes it possible to make decisions based on accurate and current information.
• Higher Visibility: There is increased visibility with regard to the status, location and utilization of the assets.

Implementing a QR Code Asset Tracking System

It involves the following steps:

1. Asset Inventory: Take a thorough inventory of all the assets that are to be tracked.
2. QR Code Generation: Use a good QR code generator to create unique codes for each asset.
3. Labeling: Print and affix the QR codes on the corresponding assets such that they are readable and not easily damaged. 
4. Software Implementation: Implement software that will be able to scan QR codes and accurately capture the asset information.
5. Training: Train staff on how to use the system which includes scanning and data entry.

Industries Benefiting from QR Code Asset Tracking

Various industries can derive benefits from QR code asset tracking in their operations:

• Manufacturing: Check maintenance schedule of machinery/equipment.
• Healthcare: Check medical equipment/safety compliance maintenance schedule.
• Education: Monitor IT equipment and classroom materials.
• Construction: Monitor tools and heavy equipment across a number of different sites.

Contrasts with Other Technologies

Though as cheap and easy to implement as QR Code Asset Tracking is, one should be aware how it is different from other technologies like RFID (Radio Frequency Identification) and BLE (Bluetooth Low Energy) tags. RFID can scan assets without line of sight and is ideal for high speed uses such as retail point of sale or stockroom inventory reading. BLE tags do, however, give persistent real time location reporting through broadcasting signals to nearby gateways. Scanning QR Codes is manual but they are cost effective and the best solution for those firms that have a budget constraint. The right solution depends on what kind of tracking is required by you.

Data Security and Traceability in QR Code Asset Tracking

Another benefit of QR Code Asset Tracking is that it can protect and audit asset movement data. Most cloud based asset tracking solutions supporting QR codes provide encrypted data storage and access controls. This enables only authorized staff to read or write asset details. And, every scan creates an auditable event log so that companies are made aware of who accessed the asset, when the asset was scanned, and what was modified. The importance of traceability is particularly high for industries that need high compliance and accountability such as healthcare, government and finance.

Mobile Accessibility and Offline Functionality

One more highly appreciated characteristic of the modern QR Code Asset Tracking software is that of mobile friendliness. Since there are applications for Android and iOS, all the field work, including scanning, data entry and even taking pictures and leaving notes can be done right from the smartphone. Advanced systems even come with offline features to aid users in scanning and capturing data offline when internet connectivity is poor. When the user is back online the data synchronizes with the master database for ongoing asset management.

Reducing Loss and Theft via QR Code Asset Labels

Lost or stolen assets result in massive losses. QR Code Asset Tracking minimizes the loss to some extent by creating a clear asset history. Each time an asset is shifted or used a scan is recorded, which provides real time information about the location of the asset. This will make it possible for you to know if there is any unauthorized usage or movement of the asset without recordation. Over the course of time, transparency leads to improved management of assets.

Scalability and Integration Capabilities

As business grows, so does the requirement for asset management. Fortunately, QR code asset tracking systems are very scalable. The system can be used whether it is tracking 100 assets or even 100,000. Additionally, most of the asset tracking programs can integrate with ERP systems, accounting software and maintenance software, giving businesses an asset dashboard where they can manage all aspects from asset management to financial management. This integration helps businesses make sound business decisions based on asset information.

Final Thoughts

QR Code Asset Tracking is an economical and efficient answer for organizations that need to automate their asset management processes. With the use of this technology, businesses can have real time visibility, reduce operation costs, and increase overall productivity.

Acube Infotech is a specialist in providing cutting edge Asset Tracking Systems according to your business needs. Our solutions are designed to reduce your operations and help you optimize the usage of your assets.

Aren’t you ready to transform your asset management strategy?

Contact Acube Infotech today for a free consultation.