Like any solution based on people and process, your program will require regular measurement and continuous improvement to ensure it is working as expected. For this reason alone, no asset tracking solution is complete without auditing. However, regular audits yield many additional important benefits:
- Provide asset managers with a regular feedback loop that drives error correction, risk reduction, and identifies where process improvement is needed
- Maintain executive support by showing measurable program value
- Foster organizational trust and system use by delivering demonstrable accuracy
- Give external auditors data that shows your asset tracking system is accurate and the processes used to keep it that way
The best and easiest way to realize these benefits in your own asset tracking solution is to regularly perform the following processes with the powerful audit features found in AssetTrack® 4.
Location Audit / Data Center Audit
The location audit answers the core question, “For a given location, is everything where it is expected to be?” These audits are particularly important for risk reduction by ensuring something has not gone missing, so something can be done about it. If you don’t know what’s missing, you don’t know your exposure.
AssetTrack® 4 audit forms help you perform location audits in a fraction of time and effort it would otherwise take. Using an optional mix of barcodes and RFID, field technicians can quickly scan the location and found assets to collect the following asset states:
- Expected and found
- Found and known, but not expected here
- New, previously unknown assets
- Missing (Expected and not found)
Armed with this information, appropriate corrective action can be taken.
Prove your asset tracking program is maintaining accuracy and achieving its desired goals. With AssetTrack® 4, minimal effort and overhead is required to periodically sample a small subset of the asset pool and verify the accuracy of the data.
Pick any number that provides a reasonable sampling of your asset pool, say 100 assets. Have your field technicians each collect data against a portion of those assets from various locations, say 25 random assets divided among 4 data collectors. From the data they submit, the asset manager can easily capture the following data points (or specify your own):
- How many locations and serial numbers are accurate?
- How many new assets (did not go through receiving)?
Over time, a well designed collection of processes should show a decreasing number of new assets and increasing number assets with accurate locations, serial numbers, assignees, etc.
Taking it one small step further, we recommend implementing a low-cost dashboard based on sample audit metrics to provide transparency and help spread trust in the program throughout the entire organization.