Glossary What is Asset Disposition?
By / 2 Jan 2023 / Topics: Hardware Procurement
Asset disposition is the process of retiring or disposing of assets owned by an organization. In the Information Technology industry, this process is known as IT Asset Disposition (ITAD). Proper disposal not only has a significant environmental impact but also is critical for protecting sensitive data and ensuring privacy. IT equipment may contain hazardous materials, which underscores the need to discard such equipment in a sustainable way and to closely monitor the lifecycle of devices.
Asset management involves:
- Evaluating assets
- Planning disposal methods
- Procuring new assets while keeping disposal in mind
- Ongoing maintenance to ensure optimal performance
Disposal must be meticulously planned taking into account financial, environmental and legal considerations. The asset disposition process encompasses several stages, including preparing for an IT equipment audit, assessing the lifecycle stage of each device, procuring new equipment or software, ensuring adherence to organization standards, maintaining current software and equipment, and ultimately, disposing of devices once they have reached the end of their lifecycle.
