Asset Management

Lately with all the advances in technology and stricter business regulations asset management has become an important topic and the need for effective programs to manage assets is growing rapidly. No matter what industry you are in the task is anything but elementary. Asset management is the method used to track fixed assets. Many companies track their assets by assigning a unique bar code to each asset. Each asset is then scanned and the information entered into a database. The ch allenge of tracking the quantity, location, maintenance and depreciation varies from company to company. The goal of tracking is to maintain accurate financial accounts, to deter theft and for preventative maintenance. The process encompasses the acquisition, use and disposal of assets with the desire to reaping maximum utility and return from each corporate asset.

An effective asset management program should comprise a number of factors. Responsibility should be clearly assigned and special attention should be paid to reporting and accountability. Assets should be used to their fullest potential and should be maintained properly. In doing so the demand for acquiring new assets should not be as high and the disposal of non-productive or idle assets should net the maximum return on initial investment. This cannot always be accomplished since the focus is mostly on supply chain management. However, with proper asset management those unused assets could be another source of revenue. Unfortunately many companies do not have the resources to make this happen. In many cases it is best to outsource this function to experts who deal with asset disposition as their core business. Most likely you would want to find a well establish reputable firm such as DoveBid.

DoveBid can help you to identify your unused assets and liquidate them as needed. As part of their managed services they offer a Surplus Asset Management program. DoveBid managed services was the first company to employ the cardinal movement of supply chain management to the asset lifecycle. Through a combination of web based practices and educational training your organization will be able to more easily identify its unused or under performing assets. This action alone will give you a distinct competitive advantage. Too often, unused or idle assets get overlooked or stored away. By identifying these assets you can either put them to use where they are needed within your organization or you can decide to dispose of them. This ongoing process forms the basis of an effective and efficient asset management system.

The next step in the process would to deciding how to transfer or dispose of these assets, a process in which DoveBid excels. Utilizing the Asset Zone technology allows for a successful redeployment system, which allows you to reallocate your assets where they are most needed. If assets are no longer of value to your company, DoveBid can help you to assess the value of the equipment and determine the most favorable method of disposition. Most organizations take advantage of one of the many online auction exchanges but other methods are also available. By selecting DoveBid you will have chosen the industry leader in asset management with the experience to earn your organization maximum return on their assets.