Asset lifecycle overview

The asset lifecycle is a clear and controlled flow of information from the purchase order through to the removal of items. The process begins with issuing a purchase order, continues with receiving goods into stock and matching them to the original purchase order. This is followed by the transfer into the asset register and, via a handover protocol, the assignment to a specific user or object. The cycle also includes regular inventory checks to verify the status of the asset, and the process only ends with its final disposal. Every piece of equipment therefore has a clear history and its status is always traceable in the system.