Asset Management Workflow
Registration → Transfer → Maintenance → Disposal
The Complete Asset Lifecycle
From goods receipt to disposal — every step tracked, audited, and compliant.
Step / Action
Decision
System Auto
Exception / Error
Milestone
1
Asset Procurement & GRN
Asset Need Identified
User / dept raises indent
↓ Purchase Requisition (PR) Created
Item, qty, budget code, justification
↓ PR Approved?
No
↓ Returned for Revision
Clarification or budget rejection
Yes
↓ Purchase Order (PO) Issued
Vendor selected; PO number generated
Asset Delivered by Vendor
↓ Quality Check Passed?
No
↓ Rejection / Return to Vendor
Debit note raised
Yes
↓ GRN Auto-Created & Linked to PO
System records receipt date, quantity
GRN Confirmed — Asset in Stores
2
Tagging & Registration
Asset Received in Stores
After GRN confirmation
↓ Tag Type?
Barcode / QR
↓ Barcode Label Printed & Affixed
RFID
↓ RFID Chip Encoded & Attached
Serial Number & Make/Model Captured
↓ Asset Master Record Created in System
Unique asset ID auto-generated
↓ Photos Uploaded (min 2 angles)
↓ Category & Sub-category Assigned
IT / Infra / Furniture / Plant & Machinery…
↓ Depreciation Block Auto-assigned
As per IT Act / Company policy
↓ Asset Registered & Ready to Deploy
3
Allocation & Deployment
Allocation Request Raised
User / dept / project / site
↓ Asset Available in Stores?
No
↓ Back to Procurement (Ph 1)
Yes
↓ Allocated to User / Dept / Location
Installation Checklist Completed
Verified by store-keeper & recipient
↓ Accessories & Peripherals Recorded
Mouse, power cable, carry bag, etc.
↓ Ownership Transfer Workflow Triggered
E-signature from custodian
↓ Custodian Accepted?
No
↓ Escalated to Dept Head
Yes
↓ Asset Put to Use
Status = In-Service
4
Maintenance & AMC
Maintenance Type?
Preventive
↓ PPM Schedule Auto-triggered
Date / meter-based
Breakdown
↓ Breakdown Repair Request Raised
Priority: Low / Medium / Critical
Work Order Created & Assigned
Internal tech or external vendor
↓ AMC Contract Applicable?
Yes
↓ AMC Contract Linked; Cost Captured
Vendor SLA tracked
No / Expired
↓ Waiver / Ad-hoc Approval Sought
Maintenance Completed & Verified
↓ Maintenance History Updated in System
Cost, downtime, parts replaced
↓ Asset Back In-Service
5
VTR Physical Audit
Audit Cycle Initiated
Annual / Periodic / Surprise
↓ Audit Checklist Auto-generated
Based on asset register snapshot
↓ Assets Scanned On-site
Mobile / Handheld scanner (barcode/RFID)
↓ Discrepancy Found?
Yes
↓ Discrepancy Report Generated
Missed / Misplaced / Untagged assets
↓ Investigation & Reconciliation
Physical search + custodian interview
None
↓ 100% Match Confirmed
Compliance Approved?
No
↓ Ghost Asset / Write-off Flag Raised
Yes
↓ Regularization Entry in System
Location / custodian corrections applied
Audit Closed — VTR Report Signed Off
6
Disposal & Retirement
Disposal Request Raised
IT / Ops exec — end-of-life or obsolescence
↓ Finance + Ops Approval?
Rejected
↓ Returned — Continue In-Service
Approved
↓ Compliance Checks Completed
Data wipe / safety clearance / insurance
Gate Pass Auto-generated
Asset ID, reason, authorised by
↓ Physical Handover at Gate
Security logs gate pass number
↓ Disposal Outcome?
Sell
↓ Sale Invoice & Revenue Captured
Scrap
↓ Scrap / Write-off Entry Posted
Asset Register Updated — Status: Retired
Full audit trail preserved
↓ Asset Lifecycle Complete
3
Deployed → In Use
→
4
Maintenance Scheduled
→
5
Audit Cycle Begins
→
6
Disposal Triggered