Tuesday, March 26, 2024

Description: Our presentation will address how an investment in time, and institutional support, can result in maintaining an accurate up to date physical inventory. The result of maintaining accurate up to date information is of paramount importance! With campuses now returning to normal, most institutions are “catching up” on their asset purchases, retirements, asset tagging, equipment inventories, and the like. Your institution's Asset Management represents one of the largest investments on your Institutions balance sheet. 

We will discuss the importance of having an accurate inventory and the various purposes that this information serves, such as: Financial Reporting, Facilities & Administrative Cost Proposal support, overall Asset Management & Control for stewardship purposes, Insurance Valuations for Risk Management/Insurance Placement/Proof of Loss purposes, in the event of a catastrophic loss. Maintaining an accurate, up-to-date moveable equipment inventory, will allow your institution to screen for like assets in the event another department can use/borrow from another department assets, rather than purchase/invest in new assets when a like asset is in place and available. Lastly, we will be discussing asset tracking and tagging technology such as traditional barcode tagging, and RFID asset tagging.

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