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Asset inventory management is one of the ways the organization monitors the assets it owns to track and analyze issues such as location, maintenance feature, depreciation, efficiency or performance, and the elected disposal of asset.
A data asset inventory is a described record of the assets in the form of data maintained. The inventory is the record of information about an asset including its name, contents, use license, owner/maintainer, privacy content, source of data, update time stamps and other relevant details.
Inventory and assets are 2 different things. Inventory is something what is sold to make a profit while Assets are what help the company obtain, maintain and sell off their inventory.
The major difference is that inventory is the materials, finished products a company wants to sell to earn revenue. It is the company’s product, used to create the company’s product. Fixed assets, on the other hand, may be used in production of the company’s products, such as equipment or machinery, plant but they are not part of the company’s product line. They are sold under a year’s time, if the company is upgrading equipment or closing due to the worst case scenario.
The process to manage the assets inventory is:
Firstly, estimate the size of your inventory. If you only have a few assets to track, you still need to take some time and team to manage them. Secondly it is track who should be the InCharge or InCharge for the inventory management. Third step is to define the basics of tracking the assets. Fourth step is to use a good asset management software. There is some housekeeping required a eh end.
Asset management is the process to manage investments on behalf of others. The process essentially has a double mandate that includes appreciation of a client's assets over time and depreciation while mitigation of risk.
Revenue Assurance can provide a financial view of IT assets, which adds a new and effective dimension to that craft. So, too, Asset Assurance adds the tools to the network capex side of the business to actively manage it.
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