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ASTM International - ASTM E2132-17

Standard Practice for Inventory Verification: Electronic and Physical Inventory of Assets

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Organization: ASTM International
Publication Date: 1 January 2017
Status: active
Page Count: 4
ICS Code (Domestic safety): 13.120
significance And Use:

4.1 Inventory verification is conducted to accomplish one or more of the following:

4.1.1 Assess the accuracy of asset records,

4.1.2 Validate or update asset records, or... View More

scope:

1.1 This practice addresses inventory verification which includes either physically or electronically confirming the existence, location, and quantity of assets.

1.2 Inventory verification is a key element in the asset management process.

1.3 The appropriate level to track assets is best expressed in Practices E2499 and E2608. Different types of assets may be managed or tracked at different levels of control, as noted in Practice E2608. The location specificity required for an inventory verification should match the location specificity required by the entity's asset management procedures or other controlling command media.

1.4 Inventory verification requires proper planning and execution. Depending on the type and scope, the inventory verification can involve significant dedication of resources. Entities should ensure that the value earned from an inventory verification is equal to or greater than the costs of the dedication of resources.

Document History

ASTM E2132-17
January 1, 2017
Standard Practice for Inventory Verification: Electronic and Physical Inventory of Assets
4.1 Inventory verification is conducted to accomplish one or more of the following: 4.1.1 Assess the accuracy of asset records, 4.1.2 Validate or update asset records, or both, 4.1.3 Assess asset...
December 1, 2011
Standard Practice for Inventory Verification: Electronic and Physical Inventory of Assets
Inventory verification is conducted to accomplish one or more of the following: Assess the accuracy of asset records, Update asset records, Assess asset loss experience, Identify process...
May 1, 2007
Standard Practice for Physical Inventory of Durable, Moveable Property
Physical Inventory—The primary product of a physical inventory is a report identifying, at a minimum, which items were located and which were not. The number and value of unlocated items constitute...
January 10, 2001
Standard Practice for Physical Inventory of Durable, Moveable Property
1.1 This practice covers the physical inventory of durable, moveable property. Physical inventory is a vital part of a property control system.
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