What is an Asset List?

Shows computer screen with asset management software dashboard

When you start talking to CoMech about calibration you’re likely to hear the term ‘asset list’; what is it that we’re looking for and why? Everything is answered in this blog.

Most organisations will be familiar with the term ‘asset list’ as a financial thing; it’s often defined as a detailed inventory of all the valuable possessions, properties, investments, and resources owned by a legal entity (limited company for example). It serves as a comprehensive record that outlines everything of value that the entity possesses, ranging from tangible assets like property, equipment and vehicles to intangible assets such as intellectual property rights.

An asset list in this sense is a document (excel spreadsheet for example) or piece of software that records all of the equipment that requires calibration. You can take it one step further and have all of the kit used in your operations documented but most organisations start with or maintain an accurate record of things that need calibrating like measuring and weighing equipment.

Why do you need an asset list for calibration?

Creating an asset list can be seen as a task that’s too arduous and likely to give someone a large headache as they chase all the equipment in an organisation. Especially ones that operate across multiple sites or depots.  With thousands of pieces of equipment on site that’s probably not been inventoried for some time you might shy away from a company who wants your asset list.

Here’s why you shouldn’t:

  • Asset lists will reduce the change of non-conformances.
  • Asset lists will help with traceability of calibrated equipment.
  • Asset lists can help with speedier and more efficient calibrations.
  • Asset lists can help reduce your costs.

When CoMech asks for your asset list it’s to enable us to have a full view of what equipment you are using and how we can best service you with our calibration and metrology services.

What should you include on an asset list?

What follows is our suggestion for the things to include within an asset list, whether you are creating your own, using templates or an asset management system (so perhaps check yours has these fields!).

  • Serial number
  • Asset number
  • Equipment make
  • Equipment model
  • Description
  • Calibration due date
  • Calibration frequency

What is an asset management system?

Everyone knows that spreadsheets can quickly become obsolete and out of date unless they are managed very carefully and centrally.

Asset management systems are more reliable, and will provide you many benefits including:

  • A centralised location to store your data
  • Easy to keep track of your calibration due dates
  • Remove paper trails from your organisation
  • Accurately budget for your annual calibration requirements
  • Gain full traceability of your calibrations
  • Easy to access calibration certification
  • Audit trail of equipment calibration
  • Contains your equipment listing and you own the system (unlike portals)

CoMech provides an asset management tool called TrackRecordPro which all customers are provided access to when they calibrate their assets with our UKAS accredited calibration laboratories or use our UKAS onsite calibration services.

TrackRecordPro has multiple features that are useful for organisations to keep track of their safety equipment that must be calibrated to comply with standards and legislation. It also helps with all the ancillary equipment that needs to be calibrated or measured (HAVs assessed or PAT tested for example).

What happens if there isn’t an asset list?

Well that’s easy from CoMech’s perspective; our onsite team can come along and help you create the asset list using TrackRecordPro. Once you have that compiled then it will be easy to see what must be calibrated and when. Not having an asset list doesn’t stop us providing you with calibration services we just know compiling one is going to make you more efficient, more compliant and save your company money in the long run!

Get in touch with CoMech if you’d like us to help with your asset list via sales@comech.co.uk or call us on 01332 867700 today.

What happens if you do have an asset list?

From our perspective an asset list enables a quick response for quotations; if you’re looking to switch supplier or have been instructed that for compliance your equipment must be calibrated send us your asset list today (sales@comech.co.uk)

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