The best way to track mobile assets is by using proper inventory management controls and automated computer inventory applications. This process requires the auditing and documentation of assets, which includes marking each piece of equipment with identification tags. These tags use a unique number for each asset. The number should be entered into a mobile asset tracking application, where it can be recorded and tracked for future audits.
One of the most important tips for mobile asset tracking is the proper tagging and marking of asset inventory. This helps to ensure that newly purchased inventory is assigned to company employees. When a new device is purchased, it should be immediately tagged with an identification number. When the device is assigned to an individual, the date and name of the assigned person should be tracked with the identification number in an asset tracking system.
A mobile asset tracking system should use special radio frequency identification tags (RFID) to track equipment. This is an electronic bar coded tag that allows computers to read the identification number with electronic scanners. RFID technology is used in most retail stores to read and charge merchandise at checkout registers.
It is also important to ensure proper inventory procedures are followed for newly purchased equipment. Each time a new asset is purchased, it should be tracked and stored in a safe area that is managed by an equipment custodian. These products should be immediately tagged with an identification number and stored in a safe equipment holding room.
It is important to have a consistent location for identification tags on all mobile assets. Typically the best spot to place an identification tag on mobile devices is in the battery compartment. This ensures the tag is in an inconspicuous area and that it is hard to remove. Using a consistent location makes it easier for future auditors to find and record the identification number for each asset.
Effective mobile asset tracking requires yearly auditing of equipment. This is an opportunity to verify assets are assigned to the correct individual in the tracking system and ensure all equipment is operational. Most companies schedule inventory audits during tax preparation season to ensure the process happens once a year.
When mobile assets become defective or broken, they are normally replaced with new equipment. During this exchange process, the asset should be marked as disposed in the mobile asset tracking system. This ensures that the inventory system is maintained and accurate for annual audits.