Asset LifeCycle Management

Manage Your Assets From Cradle To Grave

Asset lifecycle management is the process of managing the lifecycle of an asset “from cradle to grave.” Lifecycle management is often performed in order to optimize asset usage. By monitoring assets for the entirety of ownership, one can identify inefficient processes in each stage of the lifecycle.

Key Benefits of eQuip! for Equipment Tracking

Record

The first stage of an asset’s lifecycle is when the asset is recorded. This involves verifying, recording and reporting receipt of physical assets such as equipment, supplies, and materials. Recording of assets can be done via data import, manual add, and edit, or by connecting the eQuip asset management software with ERP systems.

The “cycle” in “lifecycle”

Asset lifecycle management is a continuous process. Most organizations will find that they manage assets in every stage of the lifecycle simultaneously. As some assets are retired or disposed of, other assets are being acquired and recorded.

Because asset lifecycle management is continuous, it can quickly become complex. That’s why it’s important for an organization to use a lifecycle management solution when managing many assets. A robust asset management solution allows organizations to easily track thousands of assets in each stage of the lifecycle.

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