What is Asset Recovery?
Asset Life Cycle:
The Asset Life Cycle starts when a company identifies a need for an Asset, then it moves into the acquisition phase where the Asset is acquired and it becomes tangible or real. Then it moves into the operational phase where the Asset is used for its intended purpose.
For a variety of reasons, including:
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evolving business requirements,
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corporate direction,
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obsolescence,
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underutilization,
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wear and tear
assets become surplus at their current facility and enter the Disposition Phase of the Asset Life Cycle
Disposition Phase:
TThere are a variety of terms used to describe the Disposition Phase:
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“Investment Recovery”
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“Asset Management”
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“Disposal Management” or
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“Asset Recovery”
Regardless of what you call it, the objective is to optimize the residual value of surplus, unused or under-utilized assets