Asset Management – Definition and Digital Administration
Asset management covers the systematic administration of physical assets – digitally supported for full transparency over what is where and used by whom.
What asset management covers
Asset management is the systematic administration of physical assets – tools, measuring devices, laptops, vehicles, PPE. The goal is to always know where an asset is, who used it last and in which state it was returned.
Digital asset management replaces paper-based tracking and Excel lists with a central database featuring unique object IDs, booking history and status information.
Typical features
- Unique identification via RFID, barcode or QR code
- Issue and return workflow with user attribution
- Maintenance and inspection intervals including reminders
- Reporting on utilisation, losses and cost of ownership
Frequently Asked Questions
How are assets tagged?
Usually via RFID tags or QR codes, less often classic barcodes. The choice depends on environment, volume and automation level.
How does it differ from inventory management?
Inventory management captures stock at a point in time; asset management tracks usage and condition across the whole lifecycle.
Can it connect to ERP?
Yes. Movements can be synced to leading ERP systems via API or iDoc.