What Are the Best Tips for Hardware Asset Management?

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  • Written By: D. Nelson
  • Edited By: M. C. Hughes
  • Last Modified Date: 10 October 2019
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Hardware describes physical components of computers. Monitors, keyboards, modems, and drives are common examples of hardware. A professional who practices hardware asset management is responsible for tracking information about a business's hardware. An asset manager might create a system for knowing where hardware is located, dates on which it was received, and notes about inspections and contracts for leased items. Some of the best tips for hardware asset management are to create a position for a professional who develops and oversees all management processes and to incorporate asset management software that improves accuracy and efficiency of asset tracking.

Many experts believe it is important to appoint a professional who is responsible solely for hardware asset management. Information Technology (IT) specialists normally are chosen for this role. Some responsibilities of an IT asset manager include optimizing processes for asset tracking and training and assessing team members. He or she also can be responsible for scheduling inspections and repairs of equipment, placing orders, and developing troubleshooting techniques.


Most hardware asset management professionals incorporate asset management software into their processes. A manager normally creates a database that stores information regarding hardware. It is common for a manager to use an asset tracking method, such as bardcode tracking. In this kind of system, a barcode is attached to each piece of hardware. IT specialists scan a barcode to bring up a corresponding asset file from a database. By doing so, an IT worker can learn where an item is supposed to be located, when it was received, whether it is a piece they own or have leased, and whether it has a history of malfunction.

A good tip for hardware asset management is to schedule repairs and place orders as soon as soon as indicated by information in an asset database. By ordering new items as soon as stock is low and scheduling repairs as soon as equipment malfunctions, an IT asset manager can cut cost significantly. Repairs normally are less costly than replacements. A manager who keeps on top of inventory numbers can reduce time in which key hardware components of a business process are out of stock.

A number of specialists believe that a great hardware asset management practice is consistently to optimize and redefine components of an asset management system. An asset manager can create reports illustrating costs associated with IT. He or she can match improvements and declines with certain IT management practices then change a system accordingly.


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