1. Tagging & Inventory Great companies have high cultures of accountability -Steve Ballmer

2. Let’s call it “inventory identification” First chance to make contact with asset Obtain any relevant characteristics (data is CHEAP) One minute saved during asset identification could cost one week during inventory Technologies used will be largely dependent on inventory methods Determine WHEN to initiate record "The time to repair the roof is when the sun is shining.“ - John F. Kennedy

3. A necessary evil Most resource-intensive aspect of asset management Vague regulations allow owners to apply their own judgment and contracts to specify Determine your PURPOSE "To build may have to be the slow and laborious task of years. To destroy can be the thoughtless act of a single day.“ - Winston Churchill

4. Type of institution Federal State Education Government Contractor Other private sector Asset quantity Tracking technology Biggest tracking hurdle Most successful implementation "I have no special talent. I am only passionately curious." - Albert Einstein *Ascot webinar poll results

5. Personal Property Equipment Sponsor-Furnished Capital Above $ threshold Above minimum useful life Sensitive Firearms Animals Electronics Intangible Special Tooling Special Test Equipment Material Work in progress "Why is it that you physicists always require so much expensive equipment? Now the Department of Mathematics requires nothing but money for paper, pencils, and erasers...and the Department of Philosophy is better still. It doesn't even ask for erasers." - Isaac Asimov Real Property Land Buildings Fixtures

6. Efficiency Database Access record through primary key Merge multiple tables Record access Scanner Barcode / Quick Response RFID Versatility Security (+/-) Digital documents/records Security Retention Availability "Any intelligent fool can make things bigger and more complex... It takes a touch of genius - and a lot of courage to move in the opposite direction." - Albert Einstein

7. Methodology Floor to record Wall-to-wall Record to floor Statistical sampling Hybrid Dependent (ABC) What constitutes a “touch?” Direct (tasked) Physical Electronic Indirect (opportunistic/inventory by exception) Events Transactions Forms Frequency Annual, biennial, … Framed/continuous Rolling Dependent (ABC) Considerations Reconciliation Documentation Technology ACCURACY TRAINING “To be in hell is to drift; to be in heaven is to steer.” - George Bernard Shaw

8. Breadth of control Resources Centralized Distributed Combination ABC Audit Separation of duties Authorization – department, purchasing Custody – department, user Recording – accounting Physical verification - ? “A body of men holding themselves accountable to nobody ought not to be trusted by anybody.” - Thomas Paine

9. "The greater our knowledge increases the more our ignorance unfolds.“ - John F. Kennedy Measure Staged Level of completion Acceptable loss Evaluate Metrics (ASTM/Benchmark) Find rate Missing asset trends Effort requirements Equipment velocity Movement Acquisitions Retirements Useful life Record Accuracy

10. $5k-$10k -> quantity: 46% value: 10% 36% of rooms (31% mixed, 34% big$) $5k-$25k -> quantity: 79% value: 26%

11. Any Questions? This was your brain just an hour ago This is your brain with your new knowledge

13. frequency touches methodology floor-to-record record-to-floor reconciliation documentation periodic dependent ABC) rolling statistical sampling framed continuous all-inclusive (wall-to-wall) direct targeted indirect Facility close-out/ relocation move orders department close-out/ relocation use & maintenance logs purchase service records electronic physical forms direct indirect