Asset Disposal is an event where the asset is no longer going to be used for its original purpose. The asset is deleted or deactivated in the Enterprise Asset Management system. It is a key process in the life-cycle of asset management.
eQuip! software system has a robust workflow supporting asset retirement. An eQuip! developer explains:
Because we recognize that retiring IT hardware often involves unique processes to ensure data security, the eQuip! software has different processes for retiring IT assets and non-IT assets.
A commonly-applied principle in the field of property management is that “Excess shall be the first source of supply.”
This simply means that organizations should have an effective way to review and, where possible, re-utilize available excess property before acquiring new items.
This may take the form of cannibalizing an asset, in which an asset is broken down and its parts are used in other assets. This is common with mechanical equipment.
You’ll see why our slogan is “Prepare to be Pain Free.”