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      How can i manage low-value assets?

      Do you have low-value assets and don't know how to represent them in seventhings? You have different options:

       

      Option 1: Managing the data on low-value assets

      Meaning that you label the low-value asset with a scan code and maintain them in seventhings, just like any other object.

       

      Advantages:

      • Traceable data management
      • Possibility for the traceable return into the product-life-cycle
      • Management of the low-value objects, which in cases of a bigger number of these objects, still represent a great value in the company

       Disadvantages:
      • Increased effort for initial maintenance and follow-up inventories
      • Process of labelling new objects is mostly up to the individual companies themselves
      • Clarification of the clear separation on site - what is mandatory to be capitalised and must be merged with the data records in the accounting system, and what is not.

      Tip:

      You can also link objects together and save them under a collective item. We will show you how to do that here.

       

      Option 2: Labelling the objects with a "low-value object - not relevant for inventory"-label

      You are labelling the low-value asset with an informative label but don't assign a scancode nor maintain it in seventhings.

       

      Advantages:

      • Clear identification of which objects should be inventoried and which shouldn't

      Disadvantages:

      • Increased effort for initial maintenance and follow-up inventories
      • No further information on the object - sustainable management is difficult

       

      Option 3: no labelling of low-value assets

      You don't affix an informative label, nor do you assign a scan code, and thus you do not maintain the object in seventhings.

       

      Advantages:

      • Less effort for inventory and labelling of new objects

      Disadvantages:

      • Assignment during inventories is slightly more difficult, as the employee doing the inventory could ask why an object does not have a label (although most employees actually only go to objects that already have a label attached, the search for missing objects usually takes place afterwards )
      • Pure inventory of capitalized assets - acceptance or motivation for inventory by users partly lower