Published 26 May 2023
What is an Asset Tracking Template?
An asset tracking template is a pre-designed document, database, or tool that helps organizations track the movement and status of their physical assets, such as equipment, tools, machinery, furniture, and vehicles. This template typically includes fields for recording key details to easily track and manage your assets' locations, maintenance schedules, and usage history.
Asset Tracking Template
Download this free asset tracking template that you can use in efficiently monitoring and tracking the movement of your organization’s assets. Ensure a comprehensive and straightforward asset-tracking process by doing the following:
- Fill in basic details about the audit or tracking being conducted, including the company name, the date and time, and the name of the auditor/individual assigned for asset tracking.
- Capture and attach photos of assets and use dynamic answer fields to uniquely describe them.
- Add notes and create actions for any maintenance work or corrective steps needed to address issues on assets.
- Upload relevant files and other documentation to provide further information on the assets’ condition, status, and requirements.
- Put optional comments and ensure all details are complete before having the asset tracker signed off by the auditor or anyone responsible for asset tracking.
- Export it into an asset tracking template PDF, Excel, or Word report for recordkeeping and store it securely on the cloud.
In this article
- How Do You Track Assets?
- Why Use a Template For Tracking Assets
- What to Include in the Template
- How to Create and Use an Asset Tracking Template
- FAQs About Asset Tracking Templates
- Effectively Track Assets with SafetyCulture
- Related Asset Tracking Templates
How Do You Track Assets?
As businesses grow and assets accumulate, it may become increasingly challenging for them to keep track of everything. This is where asset tracking comes in, providing a way for asset monitoring and management.
As part of the bigger asset management approach, asset tracking can be done in various ways depending on the asset type, the level of accuracy required, the budget, and the purpose of tracking. Here are some common methods:
- Barcode scanning – Assets are assigned a unique barcode scanned using a barcode scanner or mobile device for faster and more accurate tracking.
- Radio Frequency Identification (RFID) – This uses radio waves to identify and track assets via RFID tags attached to them and scanned by RFID readers, ideally for real-time tracking of large numbers of assets.
- Global Positioning System (GPS) – This is best used in tracking assets that are constantly on the move, such as vehicles or equipment, with GPS trackers installed on them.
- Asset tracking software – Using this tool can help automate the tracking process, provide real-time updates, and generate reports.
Different industries may have varying asset tracking requirements. Here are a few examples:
- Transport and Logistics – track the movement and location of goods and vehicles using GPS tracking devices
- Construction – manage the movement of heavy machinery and equipment, such as cranes, bulldozers, and excavators
- Manufacturing – monitor the location and condition of product inventory and equipment
- Retail – manage the movement of inventory and track the location of products from the warehouse to the store shelves
- Healthcare – monitor the location and condition of medical equipment, such as infusion pumps, ventilators, and monitors
Why Use a Template For Tracking Assets
Using an asset tracking template offers numerous benefits for organizations that need to manage assets. Here are some of them:
- Improved asset visibility – Organizations can maintain an accurate and up-to-date record of their assets, which can be used to reduce costs associated with asset maintenance and repair.
- Streamlined asset management – Templates help provide a centralized location for tracking and managing assets, thus reducing errors and duplication of effort.
- Better decision-making – Templates exported into insightful audit reports aid companies in making more informed decisions on optimizing asset usage.
- Increased accountability – Organizations can assign responsibility for specific assets to individuals or departments, helping reduce the risk of loss or theft.
- Enhanced reporting – Asset tracking templates can provide a structure for detailed reporting capabilities, which can be used to inform business decisions and demonstrate regulatory compliance.
What to Include in the Template
To help ensure you’re able to record key details about your organization’s assets, an asset tracking template must contain certain fields and elements, including the following:
- Asset Photo
- Name and Description
- Asset ID/Serial Number/Identifier
- Room/Facility ID
- Condition
- Status
- Category
- Model/Sub-category
- Manufacturer
- Quantity
- Owner
- Department
- Date Purchased/Acquired
- Original Value/Purchase Price
- Depreciation Rate
- Maintenance Schedule
- User History
- Relevant Documentation (e.g., manufacturer’s manual, warranty information, receipts, work orders, maintenance records)
- Completion and Sign-off
How to Create and Use an Asset Tracking Template
To guide you better, follow these steps on how to create an asset tracking template and leverage it in your organization:
- Determine what assets to track – With this, you can start creating a master list of all the assets that your organization owns.
- Include relevant information – Your asset tracking template should include all relevant information about each asset. Also, it’s a good idea to include any maintenance or service history for easier reference.
- Assign unique identifiers – These may include barcodes and RFID tags to make it easier to locate and track each asset as it moves throughout the company.
- Establish workflows – Set up a system on how assets will be added, removed, and moved within your company to ensure that everyone’s on the same page when tracking assets to minimize confusion and errors.
- Train employees and assign responsibility – Make sure all responsible individuals are trained on how to properly use the asset tracking template and follow the workflows.
- Conduct audits and update regularly – This is to verify the accuracy of the template, identify any missing or incorrect information, and keep details up-to-date.
- Make informed decisions – An asset tracking sheet can help make informed decisions about asset management, maintenance, and disposal.
FAQs About Asset Tracking Templates
Asset tracking focuses on managing physical (e.g., vehicles, equipment, machinery) and intangible assets (e.g., information, software). On the other hand, inventory tracking focuses on managing the flow of goods, such as raw materials, work-in-progress items, and finished products, within a supply chain.
Asset tracking is a specific aspect of asset management that focuses on tracking the physical location and condition of assets. Meanwhile, asset management is a broader concept that encompasses all aspects of managing assets throughout their lifecycle. Both asset tracking and asset management are crucial for organizations to effectively maximize asset value and ensure they serve their purpose.
An asset tracking template can be prepared by asset managers, operations managers, inventory control specialists, or IT professionals, to name a few. They can create an asset tracking form template using various tools, such as checklist apps, form builders, or specialized asset tracking software.
Yes, they can be customized to suit the specific needs of different industries or asset types. This can help effectively capture and track all necessary information, streamline asset-tracking processes, improve data accuracy, and maximize asset value.
Effectively Track Assets with SafetyCulture
Why use SafetyCulture?
Simplifying the tasks involved in the holistic process of managing and tracking assets is possible with the help of tools and software. This way, certain aspects can be automated, optimized, and efficiently processed.
SafetyCulture (formerly iAuditor), a powerful asset tracking software and operations platform, empowers organizations to optimize their processes with the following features and functionalities:
- Download and use forms, checklists, and templates from the Public Library to create customizable asset trackers for efficient asset management.
- Use the geotagging feature to accurately tag and track assets across various sites in your organization.
- Enable scheduling of asset inspections, audits, and maintenance tasks to receive timely reminders and never miss important alerts.
- Create and assign any maintenance and corrective actions to resolve asset issues that can be identified using the Analytics dashboard.
- Generate comprehensive asset reports that provide insight into asset utilization. These can be exported into various formats, including PDF, Excel, Word, or weblink, and stored on SafetyCulture’s secure cloud.
- Use Heads Up when disseminating Standard Operating Procedures (SOPs) and best practices and provide training to asset managers or owners for correct and proper asset management.
- Create asset profile QR codes using the web app and scan them during inspections or audits using the mobile app for easy tracking on the go.
Related Asset Tracking Templates
Asset Management Template
Download this asset management template to track the important details of vital company assets and indicate the schedule of maintenance tasks for each asset. Include sign-offs of the asset owner, manager, and custodian to verify accurate and up-to-date details.
Asset Inventory Template
Use this free asset inventory template to help make your process of managing the stocks and inventory of your valuable assets more efficient. Document all essential information in one template to enable a more accessible and centralized asset inventory tracking system.
Asset Register Template
Download this free fixed asset register template to help you keep a record of your tangible assets, their descriptions, and unique identifiers. Adequately describe the assets and their condition by uploading photos and adding notes.
SafetyCulture Content Specialist
Patricia Guevara
