Effectively managing your assets has always been an interesting and a hot topic of discussion among industry circles. Intriguing as it is, asset management involves a plethora of activities right from purchasing, managing, and finally disposing of your assets. Hence, flawless asset management assumes a lot of importance in today’s business scenario and is critical for success. With global IT spending on asset tracking software expected to increase steadily, reaching billions annually, organizations are focusing more on smart tools to optimize operations. Among these tools, barcode-powered asset tracking solutions occupy the first place, thereby driving efficiency to the next levels.

Barcode scanners have a wide range of applications across various industries – from manufacturing to healthcare. They have the potential to transform complex asset management processes into simple processes, making them truly indispensable in today’s asset-intensive industries.

In this blog, you will get a basic overview of what barcode asset tracking is all about, its benefits, and the key features to look for in a barcode tracking mobile solution.

Did You Know?

The global barcode scanner market grew from USD 7.16 billion in 2023 to an expected USD 7.58 billion in 2024. It is projected to reach USD 10.72 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.92%. Source: Research and Markets.

Overview:

What is Barcode Asset Tracking and Why Do You Need It?

Barcode asset tracking leverages barcode labels and scanners to monitor and manage physical assets. A barcode is not just a series of lines – it reveals crucial data about an asset such as its unique identifier, status, and location. This data is embedded in a barcode that can be scanned to retrieve the essential information of an asset.

This technology is paramount for any business that wants to eliminate manual data entry, thereby reducing human errors. By streamlining workflows and ensuring accuracy in asset management and distribution, businesses can save time and resources, optimizing transparency at all levels.

Key Benefits of Barcode Asset Tracking

As outlined earlier, barcodes play a significant role in efficient asset tracking. Some of the key benefits are as outlined below:

Improved Accuracy: Barcodes significantly minimizes errors associated with manual data entry, ensuring accurate tracking.
Enhanced Efficiency: Scanning barcodes automates data capture, accelerating inventory checks and asset audits.
Cost Savings: When you mitigate the issues related to misplaced items and overstocking, you minimize operational costs, thereby ensuring excellent cost savings.
Improved Visibility: With real time access to asset data, managers are empowered to allocate resources effectively, thereby ensuring effective decision making.
Scalability: Barcode systems grow as your business grows, accommodating new assets or locations easily.
Regulatory Compliance: With simple documentation, it enables quick audit, facilitating regulatory compliance with ease.

How to Track Assets Using Barcode Scanning on Mobile Devices

Barcode scanning using a mobile device has become a trend and a necessity in today’s industrial environment. Instead of bulky scanners that are costly, heavy, and lack flexibility, mobile devices are quite light and easy to carry, making barcode scanning a seamless affair. In other words, mobile barcode scanning transforms your smartphone or tablet into a powerful tracking tool. Here’s how it works:

Labeling Assets: Assign unique barcodes to each asset for easy identification.
Scanning: Use a mobile solution to scan the barcode, retrieving instant data about the asset’s location, status, and history.
Updating Records: Automatically update the system with changes like transfers or maintenance logs.
Integration: Sync the mobile app with enterprise systems (like ERP or WMS) to centralize asset management.

Mobile barcode scanning enables on-the-go tracking, making it a must-to-have solution for dynamic environments like warehouses or field operations.

Also Read: 7 Benefits of Mobile RF Barcode Scanner App in warehouse | WMS

Key Features to Look for in a Barcode Tracking Mobile Solution

When evaluating barcode tracking software, consider the following essential features:

Automated Data Capture

This is the most essential feature that you need to look in a barcode tracking mobile solution. With automated scanning, you can instantly record asset information, thereby streamlining operations. This way, you reduce manual errors and accelerate your inventory workflows.

Real-Time Asset Tracking

A good barcode scanning solution should be able to track asset locations and statuses in real time. This enhances visibility and transparency, thereby fostering effective decision making. Real-time updates play a vital role in ensuring inventory accuracy and theft prevention.

Offline Capability

Choose software with offline functionality to ensure uninterrupted tracking, even in areas with poor connectivity. Once the connection is restored, data syncs automatically, thereby facilitating quick transaction processing.

User-Friendly Interface

Choose a solution that is simple to use and provides a user-friendly, intuitive design. This in turn, minimizes the learning curve, enabling quick adoption by users at all skill levels. Clear navigation and simple workflows improve productivity.

Integration with Other Systems

Ensure the solution integrates seamlessly with your ERP, WMS, or other enterprise systems. This connectivity centralizes data management and eliminates silos.

Scalability

Choose a scalable solution that grows along with your business. Look for a software that can accommodate more asset portfolios and new operational locations.

User and Role Management

This is a must-to-have security feature that cannot be ignored when investing on a good mobile barcode scanning solution. This feature lets you control access with role-based permissions to maintain security and streamline user operations. Mostly useful if your team is large and need to limit the access to only a few users.

Audit Trails

With this feature, you can track all asset activities with detailed audit logs for compliance and accountability. Audit trails provide transparency for regulatory purposes.

Additional Features to Consider

Apart from the above core features, it’s also nice to have the following features:

Customizable Reports: This feature lets you generate reports related to your asset data, tailored to your specific needs.
Multi-Device Support: Choose a solution that works across multiple devices, thereby ensuring good flexibility.
Notifications and Alerts: Timely triggering of alerts and notifications whenever there is a change in the status of the assets – maintenance and asset movements helps all the relevant stakeholders to stay on the same page.

Having discussed the core features that you need to look into while investing in a good mobile barcode scanning solution, the next question that arises is the software that works best for your business. Though there are several barcode scanning solutions in the market, boasting of excellent features, look for a solution that is flexible, affordable, and above all, ticks all the right features to help streamline your operations. In this context, explore Propel Apps’ mobile inventory management solution that offers the best bet for your investment. So, let’s have a brief overview of this solution.

Propel Apps’ Mobile Barcode Solution

Propel Apps, a leading digital transformation company offers a cutting-edge mobile inventory management solution for seamless asset tracking and management. Using this solution, you can streamline complex supply chain processes for Oracle EBS, Oracle SCM Cloud, and SAP S/4 HANA while efficiently capturing and maintaining your barcode inventory data.

Designed with scalability and ease of use in mind, this solution helps your business achieve operational excellence through:

Real-Time Data Sync: Seamlessly update records across all devices and systems.
Offline Mode: Uninterrupted tracking in remote or disconnected environments.
Comprehensive Integration: Connect with ERP (Oracle & SAP) and warehouse systems effortlessly.
Intuitive Design: Streamlined workflows tailored for field operations.
Custom Features: Tailor the solution to fit your unique business requirements.

To know more about this solution and how it can optimize and streamline your current inventory management practices, schedule a call with us for a free demo.

Final Words

Investing in the right barcode asset tracking software is a game-changer for your business. With features like automated data capture, real-time tracking, and seamless integration, such solutions enhance efficiency and scalability while reducing costs.

Propel Apps’ mobile barcode solution stands out as a reliable choice, offering robust capabilities to meet your asset management needs. Embrace the power of barcode tracking to stay ahead in today’s competitive market.