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Asset Management

History Of Asset Management

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labAsset identification has always been a major headache for corporations, especially during audit-time, when the auditor would like to physically verify the presence of an asset. Usually in the older days, asset numbers were either stenciled on the asset or painted on it,large assets like plant equipment had bolt on steel plate type tags (“boiler plate tags”) on them, which contained details of when the asset was manufactured.

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Assets Management

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Background:

Fixed Asset is the most important part of enterprise assets composition. It guarantees the production and management, and plays a significant role for enterprise financial condition. Therefore, strengthening the assets management for complete, value maintained and value added, and making full use of the assets, is an important task for enterprise's management.

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Present Situation Of Asset Management

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Asset management by rfidPresently many assets are still tagged by labels, steel plates or have numbers painted onto them but the confusion prevails. In the recent past many progressive companies have some sort of automatic identification systems like bar codes in place, but they may not cover all assets, or the paste-on tags themselves get lost, dirty or otherwise damaged.

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RFID Solution of Asset Management

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Rfid solution of asset mangmentRFID tags need not to be physically present only on the exterior of an asset but, they can be mounted safely in a place where they may not be visible easily to the eye but are none the less, easily visible to an RFID reader.Therefore a company can easily tag all its assets with RFID tags.

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Future Trends

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  1. future trend of asset mangment with rfidIt may be possible for the government or a similar authority to pass a law saying that all assets declared by a publicly held corporation on its books   should be tagged with a read-on.
     
  2.  With the Enron & Worldcom corporate scandals still fresh in people’s minds, this RFID asset tagging could be a solution suggested by external independent auditors.

  3. Standardization of asset number tags is a possibility, therefore all “asset” tags will follow a certain standard both in physical aspects as well in their internal data  structure.

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Application & Solutions Application Asset Management

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