Smart Assets

Abstract

Fixed assets are economic resources which produce significant financial value to organizations. Managing the full life cycle of fixed assets is an exigent task. The conventional life cycle of a fixed asset includes; asset acquisition, issuance/return, adjustment, depreciation, leasing, transfer, and retirement. Apart from its conventional life cycle, tracking the physical location of a fixed asset further complicates the scenario. Smart Assets is a comprehensive solution, generic enough to provide all the basic features to manage fixed assets. This project is aimed towards effective utilization and management of fixed assets. A distinguished feature location tracking is enabled through RFID technology. Each asset is assigned an RFID tag which forms the basis of its identification. The organization is divided into multiple discrete locations which are recorded against an asset whenever it moves. The application further communicates with messaging server to propagate contextual messages to concerned stakeholders whenever anomalies detected.In a nutshell, Smart Assets provides the flexibility, usability, affordability, control (clearer picture of organizational assets), security, and reliability to manage fixed asset life cycle.