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SOP For Asset Management

SOP for Asset Management

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10 views

SOP For Asset Management

SOP for Asset Management

Uploaded by

headoffice
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Adihit Capella Private Limited

SOP for Asset Management

Prepared By: - Sameer Mhatre

Reviewed By:- Ankit Mhatre


1.Purpose
The purpose of this SOP is to provide guidelines and procedures for the effective
management of assets within the organization to ensure their proper tracking,
maintenance, and utilization.

2. Scope
This procedure applies to all physical and intangible assets owned or leased by the
organization, including but not limited to equipment, vehicles, software, and intellectual
property.

3. Definitions
 Asset:- Any item of economic value owned by the organization.
 Asset Management:- The systematic process of deploying, operating, maintaining,
upgrading, and disposing of assets cost-effectively.
 Asset Register:- A detailed inventory of all assets owned by the organization.

4. Responsibilities
 Asset Manager:- Responsible for the overall management of the organization's
assets, including tracking, maintenance, and reporting.
 Department Heads:- Ensure that assets within their departments are managed
according to this SOP.
 Employees:-Responsible for the proper use and care of the assets assigned to them.

5. Procedure
 Identification of Need:- Department heads identify the need for new assets and
submit a request to the Asset Manager.
 Approval:- The Asset Manager reviews the request and seeks necessary approvals
from senior management.
 Procurement:- Upon approval, the procurement department acquires the asset
following the organization's procurement policy.
 Asset Registration:- The new asset is recorded in the Asset Register with all relevant
details (e.g., description, serial number, purchase date, cost, etc..
 Handover-One day prior mail should be send by the employee regarding Laptop,
charger & other assets which are provided by the company need to be handover to
Admin department on the last day of your working.
6. Asset Tracking
 Tagging:- All physical assets are tagged with a unique identification number
backside laptop & Charger.
 Asset Register Maintenance:- The Asset Manager ensures the Asset Register is
updated with current information on all assets.
 Periodic Audits:- Conduct regular audits (quarterly/annually) to verify the existence
and condition of assets.

7. Asset Maintenance
 Scheduled Maintenance:- Establish a maintenance schedule for all assets based on
manufacturer recommendations and usage.
 Maintenance Records:- Keep detailed records of all maintenance activities,
including date, nature of maintenance, and cost.
 Repair and Servicing:- Promptly address any repair needs. For major repairs, assess
whether repair or replacement is more cost-effective.

8. Asset Utilization
 Assignment:-Allocate assets to departments/employees based on need and ensure
they understand their responsibilities.
 Training:- Provide necessary training to employees on the proper use and care of
the assets.
 Monitoring:- Continuously monitor asset usage to ensure optimal utilization.

9. Asset Disposal
 Identification:- Identify assets that are no longer needed, obsolete, or beyond
repair.
 Approval for Disposal:- Obtain necessary approvals for the disposal of assets.
 Disposal Methods:- Dispose of assets using the most appropriate method (e.g., sale,
donation, recycling) following the organization's disposal policy.
 Record Update:- Update the Asset Register to reflect the disposal of the asset.

10. Reporting
 Regular Reports:- Generate regular reports on asset status, including acquisitions,
disposals, maintenance, and utilization.
 Incident Reporting:- Report any incidents of loss, theft, or damage to assets
immediately to the Asset Manager.

11. Clause
Any damage to the company-issued laptop due to negligence or misuse by the employee,
the employee shall be responsible for covering all repair or replacement charges incurred .

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