Managing the asset lifecycle
Introduction
Asset Lifecycle Management is the process of tracking and managing IT assets from acquisition to disposal. It ensures that hardware, software, and other IT resources are efficiently utilized, maintained, and replaced at the right time to optimize costs and performance. The lifecycle typically includes five key stages:
- Planning & Procurement: Identifying needs, selecting vendors, and acquiring assets.
- Deployment: Installing, configuring, and assigning assets to users or systems.
- Utilization & Maintenance: Monitoring performance, applying updates, and ensuring compliance.
- Retirement & Disposal: Decommissioning, data wiping, and environmentally responsible disposal.
By implementing a structured process, organizations can reduce risks, improve compliance, and maximize return on investment for their IT assets.
In Matrix42 Asset Management, the current state of any asset in regard to it's lifecycle is determined by its "Status". For different types of configuration items, there are different built-in status value for your choice.
Asset Status Values
In your IT Asset Management solution, assets can have different lifecycle statuses. Below is a list of built-in status values and their meanings:
| Status | Description |
|---|---|
| Inbound | The asset is incoming, such as newly purchased or being returned. |
| Available | The asset is in stock and ready for deployment. |
| Reserved | The asset is allocated for future use and not currently available. |
| Active | The asset is in use and operational. |
| Outbound | The asset is being sent out, such as for repairs, transfer, or external use. |
| Missing | The asset is unaccounted for or lost. |
| En-route | The asset is in transit between locations. |
| Defective | The asset is not functional and requires repair or replacement. |
| Scrapped | The asset is beyond repair and marked for disposal or recycling. |
| Discharged | The asset has been formally decommissioned but not yet disposed of. |
| Disposed | The asset has been permanently removed from the inventory. |
| Unknown | The status of the asset is currently unclear or not defined. |
By understanding these statuses, lifecycle of assets can be effectively tracked and managed.
Relevance of Asset Status
The status values for assets and particularly for computers are relevant for some automatic data processing in the system.
- Settings for Asset Management:
- Status Values Relevant for End-of-life Monitoring
- Status Values Relevant for Automatic Assignment of Principal User
- Settings for License Management
- Asset Status Values Relevant for License Compliance