Physical Asset Verification
During the asset verification stage, Lockwood inventory specialists, under the direction of dedicated inventory controllers, go on-site to locate and physically verify each tangible asset. It is during this stage of the project that current asset information is gathered, asset-tracking technology such as barcoding or RFID is deployed, and project progress measurements are conducted using the pre-defined operating metrics as the baseline.
In general, asset verification entails having Lockwood teams go on-site to each location, seek out each FAR asset, verify its existence, gather current asset information such as its location, barcode or RFID tag the asset, and record the data. As an adjunct offering, while on-site, Lockwood can seek and collect asset information for those assets that are not currently listed on the ledger, but are of obvious material value and consequently should be accounted for, and appraise the asset's value for inclusion into the ledger.