ASSET LIFECYCLE MANAGEMENT PROCESS

Created by ChecklistGuro (https://checklistguro.com)

[ ] Retrieve New Asset Entry: Fetch the specific asset record that has triggered the lifecycle workflow.
[ ] Check Asset Owner: Retrieve the user/employee data entry associated with the asset to identify the custodian.
[ ] Assign Initial Inspection Task: Create a task for the IT/Maintenance team to perform the first physical verification of the asset.
[ ] Update Asset Status to 'In Use': Update the 'Status' field in the Asset Data Model to reflect that the asset is now active.
[ ] Schedule Periodic Maintenance: Create a recurring task for maintenance based on the asset's service interval.
[ ] Get Maintenance History: Retrieve all previous maintenance logs associated with the specific asset ID.
[ ] Calculate Depreciation Value: Execute formula: (Original_Cost - Accumulated_Depreciation) to determine current book value.
[ ] Calculate Total Fleet Value: Aggregate the 'Current Value' property of all entries in the Asset Data Model to get total company asset value.
[ ] Flag Asset for Repair: Update the asset status to 'Maintenance Required' when a fault is reported.
[ ] Execute Repair Task: Create a task for the technical department to perform necessary repairs.
[ ] Notify Custodian of Maintenance: Send an email to the asset owner informing them that their equipment is scheduled for service.
[ ] Create Maintenance Log Entry: Create a new entry in the 'Maintenance Logs' data model to document the completed repair.
[ ] Update Maintenance Date: Update the 'Last Service Date' field in the Asset Data Model.
[ ] Asset Retirement Review: Create a task for the Finance Manager to review assets that have reached end-of-life.
[ ] Update Asset Status to 'Retired': Change the asset status to 'Retired' once the retirement approval is finalized.
[ ] Remove Deprecated Asset Record: Delete the asset entry from the active inventory model (if policy dictates removal from active view).
[ ] Generate Asset Health Report: Create a report summarizing the distribution of assets by status (Active, Repair, Retired).
[ ] Alert Technician of Urgent Repair: Send an SMS to the technician's phone number regarding a high-priority breakdown.

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