Effective management of corporate assets involves several key practices:
Asset Inventory: Maintaining a detailed record of all assets, their conditions, and their locations. Valuation: Regularly assessing the value of tangible and intangible assets to understand their contribution to the company's worth. Maintenance: Implementing a robust maintenance schedule to ensure assets remain in good working condition. Risk Management: Identifying potential risks to assets and developing strategies to mitigate them. Training: Providing ongoing training to employees to ensure they understand the importance of asset management and their role in it.