5 Reasons Why Your Digital Inventory Needs a Reboot

Inventory was once a method by which businesses kept a list of all their products and parts. It is now used for more than just business use in the modern age. The inventory system has expanded to include various information about your digital assets, such as your email, documents, and pictures. Companies are investing in this information as they see value in better understanding their products, whether it be free or paid. The importance of digital assets is rising, and the inventory system keeps track of all this information. However, to have a sound inventory system, you need to have a good way of making sure all the information you will be collecting is correct and up to date. 

What happens when your test team makes a mistake? How do you keep up with the changes in technology? Inventory can be a crucial tool for your business. It is used to keep track of products, parts, and customers and identify changes in market trends. At the same time, this information is becoming more important in your digital life. As you are aware, your email, documents, and photos are all stored on your computer on their accounts and separate from the public folder that you have under the Documents or Pictures folder. They might even be different operating systems like Windows or Mac OS.

Why your digital inventory needs a reboot.

1. Digital Assets Under Management DAUM.

Management has been a big part of our lives ever since the beginning of civilization. People started to understand that order is necessary and it can bring benefits. It started with civil administration and laws, then manufacturing, and even software. Software is another example of management discipline which tries to bring order to chaos. Digital assets are no different, and they also need good management discipline.

2. Digital assets are not digital copies.

Don’t confuse your digital assets with digital copies. A copy is a copy, no matter what medium to store it. A digital asset is something you own and have permission to use and make changes. They are also under ownership, which gives you the right to use them as you please.

3. Digital assets have a life cycle.

Digital assets have a life cycle, and they need time to grow. Unlike the many physical items which are not updated or changed with time, digital assets are not like that. They are updated constantly for minor changes or when there is an upgrade in the operating system. Every three months, you need to check if a digital asset needs to be updated or if it’s under management by another person.

4. Digital assets have a policy.

It’s vital to have a clear understanding of what you can do with digital assets. You need to know the guidelines for using them and the limitations or restrictions you have. It also means that when you purchase an asset, you should read the terms and conditions and understand them before buying them. For example, if you want to read an ebook online, you need to ensure it’s within the policy guidelines.

5. Digital assets have a plan of their own.

Have a plan for your digital assets which corresponds to their life cycle. Remember that these are not physical items, and they might change with time. Make sure that the plan is flexible and can adapt to changes in the future. The digital asset owner should also be familiar with this plan and know what’s happening with it at any given time.

Inventory is an essential tool for managing your digital assets. Please read the terms and conditions and understand the guidelines on how to use them and the limits or restrictions on them. It’s vital to remember that they are not physical items. They are updated constantly, and you need to check if they need updating at all every few months. If you don’t monitor them, they will get out of hand quickly, costing you money.