The Annual Physical Inventory for assets is a manual process using written reports created by Property Control to account for assets. The reports are sent to the departments to locate the asset and verify the information. The primary purpose of the inventory report is to identify the current location and notate on the inventory report. Conducting the inventory can require a lot of time from the Asset Coordinator and can involve many other personnel in the department to locate an asset for verification which increases the cost to perform the annual inventory. The following goals were identified to determine the best option for improving the annual inventory process:
Radio Frequency Identification (RFID) provides the ability to track without the use of line-of sight. Each asset will have a tag that contains a microchip and antenna. A mobile or fixed reader is used to send a signal and the tag will respond by sending the code in the microchip back to the mobile receiver. Radio waves are used to send and receive coded information. Using a mobile reader to scan tags was determined to be the best option for immediate improvements for the annual inventory process and the least cost prohibitive. This will provide improvement for the accuracy of the inventory. The reduction in the time to perform the annual inventory will allow for additional follow up inventories throughout the year. Asset Coordinators will be able to use EIS Asset Management with information that is updated through the use of Virtual Asset Tracker. Radiant RFID, a solution based company, was selected as the vendor of choice to implement the RFID system at UNTHSC. The Virtual Asset Tracker is a complete solution of tags, readers, and software. They carry a vast amount experience working with state agencies such as Texas Tech University, Lamar University, Steven F. Austin College, UT – Arlington, Department of Public Safety, FBI, and the Governor’s Division of Emergency Management.
More information will be provided to keep UNTHSC updated on our progress.