Enterprise asset management is the work of tracking equipment the organization owns, from purchase through repair and retirement. The record says what the asset is, where it sits, what it cost, and what has been done to it.
Day-to-day work orders often live in a Computerized Maintenance Management System (CMMS). That system schedules the repair. The asset record is the longer file: purchase, location, cost, and the decision to retire the equipment.
What the Asset Record Holds
- Identity and place. A name, a serial number, and the site where the equipment sits.
- Cost. What was paid, and what later repairs have added.
- End of use. The date the equipment was retired, sold, or discarded.
Asset Record and Repair Schedule
| Compared | Asset Record | Repair Schedule |
| Main question | What does the organization own, and what did it cost | What repair is due, and who will do it |
| Time span | Purchase through retirement | The next work order and the ones already closed |
| A retired machine | Stays on the books until the record is closed | Drops off the schedule once no further work is planned |