Category Archives: QR Code asset tracking

Cost Savings through QR Code-Based Asset Tracking

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QR Code based Asset inventory
In the ever-evolving landscape of business operations, efficiency and cost-effectiveness are paramount. Many companies are turning to innovative solutions like QR code-based asset tracking to streamline processes and reduce operational costs. Let’s explore how adopting this technology has enabled businesses across various sectors to achieve significant savings.

Case Study 1: Manufacturing Sector

Company Profile:
A medium-sized manufacturing firm with multiple production facilities and extensive machinery.

Challenge:
The company faced challenges in tracking the usage and maintenance schedules of machinery across different sites. Manual record-keeping led to discrepancies, delays in maintenance, and increased downtime.

Solution:
Implemented a QR code-based asset tracking system integrated with their existing maintenance management software. Each machine was tagged with a QR code linked to a digital profile containing maintenance logs, service schedules, and operational data.

Results:

  • Reduced Downtime: By monitoring maintenance needs in real-time, the company minimized unplanned downtime by 30%, leading to increased productivity.
  • Improved Maintenance Efficiency: Scheduled maintenance became more efficient, reducing overall maintenance costs by 20% annually.
  • Inventory Optimization: Better tracking of spare parts and consumables lowered inventory costs by 15%.

Case Study 2: Logistics and Transportation

Company Profile:
A logistics company specializing in warehousing and distribution services.

Challenge:
Tracking and managing a vast inventory of goods across multiple warehouses and during transit was cumbersome and prone to errors. This led to inefficiencies in order fulfillment and increased operational costs.

Solution:
Deployed a QR code-based inventory management system that enabled real-time tracking from warehouse to delivery.

Results:

  • Enhanced Inventory Accuracy: Reduced inventory discrepancies by 25%, minimizing stockouts and overstock situations.
  • Optimized Route Planning: Improved asset visibility allowed for optimized route planning, reducing fuel consumption and transportation costs by 15%.
  • Faster Order Processing: Streamlined order picking and fulfillment processes increased operational efficiency, leading to faster turnaround times and improved customer satisfaction.

Case Study 3: Healthcare Sector

Company Profile:
A network of hospitals and clinics facing challenges in managing medical equipment and supplies.

Challenge:
Ensuring timely availability and tracking the usage of medical equipment and supplies across different healthcare facilities was critical for patient care and operational efficiency.

Solution:
Implemented a QR code-based asset tracking system integrated with their inventory management software and patient records system.

Results:

  • Improved Asset Utilization: Optimized usage of medical equipment reduced unnecessary purchases and extended equipment lifespan, resulting in cost savings of 18%.
  • Enhanced Patient Care: Timely availability of critical supplies improved patient care outcomes and reduced emergency procurement costs.
  • Regulatory Compliance: Maintained compliance with healthcare regulations by tracking equipment maintenance and usage history seamlessly.

Conclusion

Across diverse industries, adopting QR code-based asset tracking systems has proven instrumental in driving operational efficiency and achieving substantial cost savings. Whether in manufacturing, logistics, healthcare, or beyond, companies have reaped the benefits of real-time visibility, improved inventory management, and streamlined operations. By leveraging technology to enhance asset tracking capabilities, businesses not only reduce costs but also position themselves for sustained growth and competitiveness in today’s dynamic marketplace.

Ready to transform your operations and unlock cost-saving opportunities? Try INDTRAC QR App for free. Call us for any help you need.

Digitalise your manual asset inventory now

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If you are manually keeping track of your assets inventory or using barcodes to keep track in old-fashioned way, we have good news for you.

INDTRAC App now lets you import all your barcodes and use the App to track those assets. And when you decide to move on from old barcodes to the new world of QR Codes, INDTRAC App will keep them ready in advance.

Simply download the codes, print them in your printer at whatever size you wish and start fixing them on your assets. Your inventory would be QR-code-ized in no time. You do not need barcode reader, computer or anything. Your staff use their smartphones alone to manage your assets now! Total freedom from being stuck to a computer or even a place.

The App is all that you need to manage your assets from anywhere in the world!

Just download the App, register your site and voila, your digital asset inventory is ready.

And if you need a minor customization of the App, or you need customization of the QR Code, just call us or email us. We will deliver it to you in no time.

So what are you waiting for? Start your warehouse revolution now!

Custom QR Code design for enterprise

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Recently we received a request where the customer needed to track hundred thousands of assets under its inventory. They added a few of constraints.  One of them was that the tags had to withstand extreme weather. The environmental temperature ranged above normal range of temperature. It also had to be water-proof.

They had another requirement, the tag had to have some specific text and design. We felt that this may be a need for many enterprises struggling to inventory their assets with a really low budget but with a specific design requirement. The simplest of them would be that the tag show the logo of the enterprise.

To cater to these needs, we launched our bulk QR Code design service where INDTRAC will deliver finished QR Code tags with custom design and size to the customer. Needless to add, these tags would be usable with INDTRAC QR App for tracking those assets.

As usual our promise for the low cost of ownership for the customer holds for this service as well.

Source tracking with QR Code

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What is Source Tracking?

Customers today demand traceability of the goods they buy.  Commonly termed  Source Tracking, the idea is that the buyer should be able to find the source data of the goods they buy in the shop.

How is it done?

There are many ways to do that. One way is using block-chain system to add every transactional data into a immutable data repository — effective but a little elaborate if not too expensive.

QR codes offer a versatile and powerful solution that enhances traceability, improves efficiency, and saves costs. QR Codes offer both uniqueness, authenticity at almost negligible cost.  Simply using a smartphone App, generate QR Code and fix it to the product. This is called source tagging or tagging at the source.

As the goods move through the supply chain, workers scan the QR code fixed on each item and in that process creates logistical trail for the item — all records are retained and thus provides the traceability for the buyer.

Benefits

Enhanced Traceability

QR codes enable accurate and detailed tracking of products from origin to distribution.

Real-time Inventory Visibility

As the QR Code is scanned in the App, inventory information is updated in real-time. With enhanced accuracy of the data, inventory can optimized in real time.

Efficient Product Recall

QR codes facilitate swift identification and targeted response during product recalls — minimizing the impact on the supply chain and preserving customer trust.

Minimal Infrastructure Investment

QR codes require minimal infrastructure investment, utilizing existing smartphones for scanning.  If you use INDTRAC QR App, you can generate the QR code using the same app. Businesses can achieve cost savings more than 60% compared to other source-tracking methods, significantly reducing operational expenses.

In Summary

QR codes offer unmatched advantages in source-tracking within the supply chain, adding powerful quantitative metrics. With enhanced traceability, real-time inventory management, efficient product recall processes, and substantial cost savings, businesses can optimize their operations and gain a competitive edge.

Call us today and usher in hassle-free QR Code based traceability to your supply chain at the lowest cost.

How to track asset states digitally

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Manage assets from your phone

Recently we met a factory floor shop manager. We asked how he keeps track of so many equipment and instruments. Does he use any system to identify and track them?

He said in his mind he knows where each asset on the floor, is and since they are all inside the workshop area, he knows he can track any asset without much difficulty.

We asked what are the typical lifecycle states of each equipment and how he keeps track of which asset is in at what stage? He had a little difficulty in explaining that workshop maintains a book and whenever an asset is decommissioned or in service, an entry is made in the book.

Do you see any issue with the way assets are managed?

Obviously there is no digital inventorization of the workshop assets. Nor the manager can know if any asset is taken out of the floor or if an asset has returned after service in last few hours unless he manually searches.

You obviously can do better.

All assets can be digitally tracked with a simple QR Code. Added advantage is no need to keep books manually.

INDTRAC App lets you define your asset life cycle stages.

Let’s assume almost all assets on the floor, go through the following stages:

  1. Check-in
  2. In use
  3. In-service
  4. Decommissioned

In INDTRAC App, go to Admin -> Workflow States. Click Create

In the Add Workflow States, Add Check-in as Name and Asset ready for Provisioning as Description. Click Submit. Create other states likewise.

Now when you scan the Asset’s QR Code to update location, App will prompt to pick the Workflow States too.

In the Manage Asset tab, you can view the current state of any asset by selecting the asset from the list (after search) and clicking Current Location button.

Location History shows past locations and states that the asset has undergone.

As you can see, with INDTRAC App, entire asset tracking can be done digitally without wasting time in manual record keeping since the App itself now keeps the record. Moreover you do not need anything else other than the INDTRAC QR App to make this transformation.

  Start your digital transformation journey with INDTRAC QR App alone.

How QR Code helps small businesses in efficiently managing assets

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App based asset trackingIn small businesses capital good and assets are major investments. Managing them efficiently should therefore be of paramount importance. Paper-based way of asset tracking and record keeping is time-consuming if not error-prone and costly.
Using QR Code can make the process simple, fast and entirely digital. It can streamline processes, improve worker productivity, enhance asset traceability, ensure accurate record keeping and importantly deliver cost reduction due to higher asset utilization and reduced worker downtime.

In a typical case, the asset manager uses a smartphone App to generate QR Code for each asset. He/She prints them and fixes each QR code on respective asset. Now workers start using the App to update current status. The Asset manager can track all assets from his smartphone from anywhere in real-time.

In a recent survey, organizations acknowledged the challenges they faced in maintaining accurate asset records. QR code-based digital asset tracking systems alleviate these issues by automating the data capture process. Every time an asset is scanned, relevant information such as location, maintenance history, and user details are recorded digitally, ensuring a comprehensive and reliable record-keeping system. This accuracy not only saves time but also improves overall data integrity.

A study claimed that businesses can reduce asset loss by up to 50% through effective tracking and management.

In summary,

  1. One can  create, print, label and track existing assets using QR codes at a marginal cost of RFID based system.
  2. QR Codes are extremely convenient as they can be accessed and generated through mobile App
  3. QR Codes are a lot more resilient and flexible compared to bar codes.
  4. App can help one to customize alerts / notifications to track asset check-in / check-outs.
  5. QR code also help one to track asset service dates and asset service renewal dates using real-time App notifications.
  6. One major benefit is that using QR Code, the organization can easily monitor asset’s condition digitally throughout the asset’s life. With asset audit becoming entirely digital, business’s ability to plan ahead for future procurement becomes so much easier.

INDTRAC QR Code App helps businesses track their assets digitally with QR Code alone.

QR Code Asset Tracking App launched

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INDTRAQ QR Code android App for Asset tracking is now available. If you are a small business owner and want a simple solution to track your assets, we request you to try our QR Code App. No credit card is required for registration. Simply download the App and install in your android phone.

 

Easy to Use

After installing the App, follow the link to register your site. Once site is ready and live, which typically takes about twenty-four hours, you can login to the App.  By default you are the Admin of your site.

Once you login, add your assets, create unique QR code for each asset, download the QR code in your Google Drive. Print and fix it on the asset.  Now configure your site in the Admin console. Add location tags for each unique location your assets are expected to be. Add process work flow steps.

Now invite your users and let them start tracking the assets or updating the asset status.

 

 

Use for free

Our free plan is limited to 10 assets and 5 users. If you need to use it for more assets, please call us to explore our premium plans. And please do not forget to share your feedback with us. If you like the App, please rate us 5 star in Capterra and G2