Optimize asset performance with our acquisition and disposal software.

The acquisition phase is more than just purchasing equipment; it’s a strategic decision point. It starts with evaluating asset requirements to ensure the new equipment aligns with operational needs. Key activities include defining capacity and functionality, sourcing and procurement, negotiating contracts and conducting pre-finalization inspections and testing to verify quality and safety standards. Proper installation and commissioning are the final crucial steps to integrate the asset effectively.

The moment you acquire an asset, you must capture the data that will govern its entire life. This includes:

• Initial cost and budget allocation
• Manufacturer details (make, model, serial number)
• Warranty, license and lease information
• Original equipment manufacturer (OEM) preventive maintenance schedules for future maintenance planning
• Depreciation method and salvage value for financial tracking

The decision to dispose of an asset is a financial and operational calculation, not a reactive choice. It is usually triggered when:

• The cost of repairs exceeds the cost of replacement (excessive corrective maintenance)
• The asset reaches the end of its projected useful life (obsolescence)
• It becomes unsafe or no longer complies with regulatory standards
• A technological advancement offers a significantly better ROI through replacement (replacement planning)

Disposal must be a formal process to manage risks and recover value. Best practices include:

• Developing a clear disposal policy that outlines procedures and responsibilities
• Assessing fair market value for potential resale, trade-in or recycling options
• Engaging certified disposal vendors to ensure environmentally responsible and compliant disposal, especially for regulated materials