Introduction
Asset tagging and verification for manufacturing companies is critical for managing thousands of fixed assets spread across plants, production lines, warehouses, and yards. Manufacturing companies in India operate with thousands of fixed assets spread across plants, production lines, utilities, warehouses, and yards. Machines, tools, dies, moulds, electrical installations, safety equipment, and material handling assets form the backbone of operations.
Without a structured asset tagging and verification system, manufacturers face issues such as missing assets, incorrect asset locations, audit observations, insurance disputes, and weak capital expenditure control.
This blog explains why asset tagging and physical verification are critical for manufacturing companies, how mobile-based verification using QR codes and barcodes works on the shop floor, and how manufacturers can achieve audit-ready asset control.
Asset Challenges Faced by Manufacturing Companies
Asset tagging and verification for manufacturing companies ensures accurate asset records, better audit compliance, and improved operational control across plants.
Asset Tagging and Verification for Manufacturing Companies: Key Operational Challenges
Manufacturing organisations typically face the following asset-related challenges:
- Assets spread across multiple plants and sheds
- Movement of machines and tools between departments
- Inaccurate or outdated Fixed Asset Registers (FAR)
- Difficulty in tracking idle or non-working assets
- Audit qualifications due to missing or unverified assets
- Insurance claims rejected due to lack of evidence
Traditional Excel-based tracking is unable to address these complexities.
What Is Asset Tagging in Manufacturing?
Asset tagging in manufacturing involves pasting QR code or barcode tags on each fixed asset and mapping them to detailed asset information such as:
- Asset name and category
- Plant, line, and department location
- Make, model, and serial number
- Capitalisation details
- Asset condition and usage status
Each tag creates a unique digital identity for the asset.
Why Physical Verification Is Critical in Manufacturing Plants
Physical verification ensures that assets:
- Exist physically on the shop floor
- Are located in the correct plant or department
- Are operational, idle, damaged, or scrapped
- Match accounting and maintenance records
For manufacturers, this process is essential for statutory audits, internal controls, and operational planning.
Mobile-Based Asset Verification for Manufacturing Companies
How Mobile Verification Works on the Shop Floor
Using a mobile application, verification teams can:
- Scan QR codes or barcodes pasted on machines and equipment
- Capture live images of assets
- Record asset condition and remarks
- Automatically capture GPS location
- Sync data instantly to a cloud platform
This process works seamlessly across production areas, warehouses, utilities, and open yards.
Key Benefits for Manufacturing Organisations
1. Accurate Asset Location Mapping
Assets are mapped plant-wise, department-wise, and line-wise, reducing ambiguity.
2. Identification of Idle and Non-Working Assets
Manufacturers can identify:
- Idle machines
- Obsolete tools
- Non-performing equipment
This supports better utilisation and disposal decisions.
3. Faster and Cleaner Audits
Mobile-based verification provides:
- Image evidence
- Time-stamped records
- Location validation
Auditors can rely on verification reports without repeated physical checks.
4. Improved Insurance and Risk Management
Verified asset data with images and location details strengthens insurance documentation and claims.
Typical Manufacturing Assets Covered
Asset tagging and verification can cover:
- CNC machines and production equipment
- Dies, moulds, and jigs
- Electrical panels and utilities
- Material handling equipment
- Safety and firefighting equipment
- IT and automation assets
Both high-value and support assets can be included.
Why Mobile-Based Verification Is Ideal for Manufacturing
Mobile-based systems are particularly suited for manufacturing because they:
- Do not require specialised machines
- Work across noisy, dusty, and distributed environments
- Allow rapid verification without production disruption
- Scale easily across multiple plants
The flexibility of smartphones makes verification practical on the shop floor.
Why TagMyAssets Is Trusted by Manufacturing Companies
TagMyAssets provides end-to-end asset tagging and verification specifically designed for manufacturing environments:
- ✔ QR code and barcode-based asset tagging
- ✔ Mobile application for on-site verification
- ✔ Image capture and condition logging
- ✔ GPS-based geo-tagging
- ✔ Cloud-based reconciliation and reporting
- ✔ Software deployment after verification
This approach ensures manufacturers gain long-term control, not just one-time verification.
Conclusion
For manufacturing companies in India, asset tagging and physical verification are no longer optional activities. They are essential for audit compliance, operational efficiency, and asset lifecycle management.
By adopting mobile-based asset verification using QR codes and barcodes, manufacturers can achieve accurate records, faster audits, and stronger control over their fixed assets.
Frequently Asked Questions (FAQ’s)
What is asset tagging and verification for manufacturing companies?
Asset tagging and verification for manufacturing companies is the process of physically identifying fixed assets using QR codes or barcodes and verifying them through mobile applications to ensure accurate records, audit compliance, and operational control.
Why is asset tagging important for manufacturing plants?
Manufacturing plants manage thousands of machines, tools, utilities, and safety equipment. Asset tagging helps prevent missing assets, incorrect locations, audit observations, and insurance disputes.
How is asset tagging done in manufacturing companies?
Asset tagging in manufacturing companies is done by affixing QR code or barcode tags on assets and scanning them using mobile applications to capture images, asset condition, and location details.
Can asset tagging and verification be done without handheld devices?
Yes. Asset tagging and verification for manufacturing companies can be done using mobile applications on smartphones without any handheld scanners or RFID devices.
Is asset tagging mandatory for manufacturing companies in India?
While asset tagging is not legally mandatory in India, it is strongly recommended for statutory audits, internal controls, insurance documentation, and fixed asset management.
