Asset Management Glossary

Asset tagging is the process of labeling equipment with unique identifiers—such as QR codes—to enable tracking, accountability, and lifecycle management.

Check-in/check-out is a workflow used to track when equipment leaves storage, who is responsible for it, and when it is returned.

Ghost assets are fixed assets that appear on the general ledger but cannot be physically accounted for because they have been lost, stolen, or disposed of without record.

Preventive maintenance refers to scheduled upkeep tasks—such as inspections, service checks, and calibrations—performed to keep equipment safe, reliable, and operational.