The lifecycle of the asset needs to be considered when bringing any asset into the organisation:
- Acquisition - Requisitioning, approving requisitions, ordering, receiving, validating orders, tagging assets, initial entry of asset information in a repository,
- Deploy - Includes the tagging assets, entering asset information in a repository, configuring and installing assets.
- Manage - Includes inventory/counting, monitoring usage (some software), managing contracts for maintenance and support, and monitoring age and configuration.
- Dispose - This is removing assets from service, deleting storage contents, disassembling components for reuse, surplusing equipment, terminating contracts, disposing of equipment, and removing asset from active inventory.
- Plan - Could include defining supporting processes, setting standards for configuration and retention, aligning purchase plans to business goals, collecting aggregate information on intended purchases, and negotiating volume discounts.
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