Follow a formally- approved procurement process to procure the required inventory stock and software assets

Monitor levels of assets regularly and identify sub-optimal levels

Categorise assets according to organisation-specific procedures

Perform regular maintenance of assets according to organisational guidelines

Phase out irrelevant assets according to the asset management plan

Identify business or legal vulnerabilities and inefficiencies from existing assets

Check that business units comply with corporate policies in the utilisation of assets

Determine the type, quantity, and timing of IT assets to be procured or supplemented according to business needs

Develop internal processes to track and categorise assets and inventory through its lifecycle

Develop well-defined plans and instructions to guide proper handling, storage and maintenance of assets

Monitor the deployment and maintenance of assets in line with Service Level Agreements (SLA)

Determine optimal time for the phase in and phase out of assets, to maximise value within legal and security standards

Forecast changes in demand for and supply of various assets

Anticipate potential business, legal or security risks that assets may pose

Propose organisation guidelines to optimise and protect assets and intellectual property

Anticipate the future IT asset requirements of the organisation based on emerging trends and evolving needs

Define the organisation's asset management plan to optimise business value and minimise risk

Establish internal policies for the management, optimisation and protection of the organisation's assets in alignment with business priorities and industry standards

Set guidelines for optimal asset and inventory levels, in balancing changes in forecasts, business needs and costs

Develop procurement guidelines and Standard Operating Procedures (SOP)

Manage impact of policy changes on asset management plan