Asset Lifecycle Management (ALM)

Managing physical assets involves planning, acquiring, maintaining, and disposing of tangible resources like equipment, facilities, and infrastructure to maximize their value and support organizational objectives efficiently and effectively.

Solution :

  • Language : PHP
  • Framework : Laravel
  • Database : MySQL
  • Backend System : Content Management
  • Skills : Project Management, QA, Analysis, Customer Supports, Solution Architect

Client :

The Daily Star

The management of physical assets of an organization involves several core features:

1. Asset Tracking: This feature involves accurately monitoring the location, condition, and status of all assets owned by the organization. It includes using various technologies such as barcoding, RFID tags, or GPS to track assets throughout their lifecycle.

2. Asset Move Order: This functionality allows the organization to efficiently manage the movement of assets between different locations or departments within the organization. It involves creating and processing orders or requests to transfer assets, ensuring proper documentation and authorization.

3. Asset Inventory: This feature involves maintaining a comprehensive inventory of all physical assets owned by the organization. It includes recording key information such as asset descriptions, serial numbers, acquisition dates, and current locations. Regular inventory audits are conducted to reconcile physical counts with the recorded inventory.

4. Real-Time Depreciation Calculation: This functionality enables the organization to accurately calculate the depreciation of assets in real-time based on predefined depreciation methods such as straight-line, declining balance, or units of production. It helps in tracking the decrease in the value of assets over time and facilitates financial reporting and decision-making processes.

Overall, these core features of asset management help organizations optimize the utilization, maintenance, and lifecycle management of their physical assets, leading to improved efficiency, cost savings, and better decision-making.

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