Asset tagging is a fundamental aspect of facility management, especially for larger facilities with the responsibility of a variety of assets to keep track of. Depending on commercial or residential, a range of assets require tagging. These assets could be anything from room appliances, floors, signs, desks, lighting, computers, lifts, and more.
Asset tagging is essentially a labelling system that assigns a unique identification number or code to each asset, allowing businesses to track the asset's information, maintenance requirements, warranty, and location. Furthermore, a critical aspect of facility management operations helping to monitor assets and streamline maintenance and repairs.
6 REASONS TO IMPLEMENT FACILITY TAGGING
Implementing facility asset tagging can bring numerous benefits:
1) Recorded maintenance reports and service agreements for example warranties can lead to cost-savings, especially when an asset experiences a fault. When an asset is under warranty or covered by a policy, it can be replaced, thereby saving the company a significant amount of money. Failing to keep track of such information can lead to excessive expenses in the form of replacements, rentals, and repairs, which can be detrimental to a company's operational budgets.
2) Monitoring maintenance schedules and repairs is crucial for assets that require regular checks and repairs. With access to data reports, companies can better plan and schedule maintenance, leading to increased productivity.
3) Asset Tagging provides you with day-to-day control, helping you to manage critical health and safety risks including injuries as a result of faulty equipment and preventable accidents occurring.
Failure to regularly maintain and monitor the roof can result in significant risks that may cause harm to your employees and the public. I have personally witnessed instances in a retail environment that not only posed a financial burden but also jeopardised safety.
Josh Jones, Integrated Services
4) Asset Tagging gives you complete access to a database of your assets, allowing for better cost and management decisions.
5) Keeping track of assets, including their location and maintenance reports, is particularly vital for large businesses with thousands of assets. Without access to such recorded data, it becomes challenging to keep track of assets.
6) The majority of businesses are required to comply with regulations and record assets, providing proof of ownership and usage. Compliance is essential, and failing to comply can lead to costly legal issues.
THE 'HOW TO' OF ASSET TAGGING
To implement facility asset tagging, businesses first need to determine which assets require tagging and why. A plan needs to be put into place on what software to use as a database to manage the asset results, how the job will take place, who will implement the job, how many assets need tagging, what tags to use, and whether there is a time frame to do it in.
However, the cost and hours spent implementing can be a barrier to many businesses. In such situations, businesses can seek outside support to implement facility asset tagging.
Sometimes it isn’t a reasonable expectation for businesses to undertake alone with too much to manage already, in this situation requiring outside support. Benefits of support on the project include expertise, project planning and management, package options and no time taken off task to facilitate Asset Tagging as sorted for you.
The Shore Group facilitate Asset Tagging under the Integrated Services Packages. Providing end-to-end support throughout with project managers on hand to handle the whole process.
TEAM IMPLEMENTATION
For retailers, asset tagging is especially crucial for items like self-checkout machines, lifts, and escalators, which can cost stores thousands of pounds to repair when these could have been covered by warranty if date information was available. Without asset tagging, businesses may lose money due to equipment failure, repairs, or replacements.
After spending 18 years working with well-known retailers and in the property, commercial, and residential industries, I know first-hand how important asset tagging is. I've seen retail stores lose thousands of pounds in maintenance costs because they didn't have date information available to cover equipment under warranty.
This issue isn't limited to commercial businesses; it also affects residential properties. That's why we offer package deals to support clients in both residential and commercial sectors, including asset tagging, reactive maintenance, and compliance.
Josh Jones, Integrated Services Manager
Facility asset tagging is an essential tool for effective facility management. It helps businesses track and manage their assets effectively, comply with regulations, and save costs. By implementing facility asset tagging, businesses can streamline maintenance and repair operations, increase productivity, and minimise overspending.
At the Shore Group, we specialize in reactive and planned maintenance, with expertise in property, M&E, and installations. Our engineers can provide integrated packages inclusive of reactive maintenance, asset tagging, and compliance (building fire safety). We also have expertise in planned maintenance, and we can help tag assets that require regular checks and repairs.
The Integrated Services have come from a huge range of backgrounds with experience working for some of the biggest retailers in the UK. Furthermore, the Integrated Services team recently launched the rapid delivery of 265 stores installing nationwide cigarette and vape gantry for the retailer SPAR.
If you would like to hear more about asset tagging and how your business can benefit from the use of our Integrated Services, contact josh.jones@theshoregroup.co.uk.
