Digital Inventory of Assets

Societies have a list of large number of assets. Some of these assets are of high value such as diesel generators, transformers, lifts etc. , some are of medium value such as meters and some are of lower value such as tables, chairs etc. Does the society has a process to keep an inventory of these assets. Does the society has a digital inventory of these assets.


We recommend that society needs to have a robust asset management system which does need to include a digital asset inventory system. In its simplest explanation, an asset inventory system is a list of assets based on asset types and categories. It also has additional details such as asset purchase dates, asset value, asset disposal date, asset location etc. The digital asset inventory is the infrastructure on which the asset management functionality gets built up. The asset management functionality includes the complete asset life cycle such as asset procurement, maintenance and disposal.

Please share your views and thoughts on the best practices which you follow for asset management in your society.


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