Our client is a high-tech optical communications technology and test and measurement company. The company planned to split and needed a complete, up-to-date record of its assets so it could divide them appropriately. Although each company location had an asset register, these registers were incomplete, with some assets missing, mislabeled, or unlabeled. The company had a tight timeline to update its existing registers with complete information on all assets across five facilities in northern California, Connecticut, and Canada.
The company selected Liquidity Services to help it achieve an accurate, comprehensive view of its assets. We began by visiting all client facilities and “tagging” nearly 4,000 assets with barcode scanners. The scanners recorded comprehensive information about the assets such as make, model, and year. Then, we reconciled our tagged list with the original registers, adding, changing, or removing assets as appropriate.
Proven Asset Tagging Process
Within just 15 days, Liquidity Services delivered a complete, up-to-date asset register to the client. Having a full record of its assets allowed the client to allocate assets appropriately between its two divisions.
Liquidity Services’ innovative asset tagging process now enables the client to easily perform annual asset audits independently. The client simply has to walk through its facilities, scanning all assets and updating information as appropriate. This is a significant value-add, as having full visibility into its assets on a regular basis empowers the client to make intelligent purchasing and redeployment decisions.