Press Release Summary:
By covering process of receipt notification, ASTM standard E2606 allows control of equipment movement and custodial change, and will also promote accurate visibility of equipment location. Proposed standard WK17637 helps companies keep track of equipment through consistent identification. It provides standard approach for equipment managers to consider when physically marking equipment that will allow personnel to readily recognize ownership and promote effective management.
Original Press Release:
Equipment Movement and Identification To Be Covered in New and Proposed ASTM Property Management Standards
W. CONSHOHOCKEN, Pa., 21 January 2009-Any organization that owns and uses a variety of equipment must find ways to identify it and track its movement. A new standard and a proposed new standard being developed by ASTM International Committee E53 on Property Management Systems focus on these aspects of equipment ownership.
The new ASTM standard, E2606, Practice for Receipt Notification as a Result of Tangible Property Movement, and the proposed new standard, WK17637, Practice for Physical Identification of Entity Controlled Equipment, are under the jurisdiction of Subcommittee E53.01 on Process Management.
ASTM E2606 will allow for better control of equipment movement and custodial change by covering the process of receipt notification. The new standard will also promote the accurate visibility of equipment location.
According to Deborah Lamiroult, an E53 member and a property administrator, companies that use ASTM E2606 internally as well as in dealings with subcontractors will become more efficient in tracing the movement and control of property. The standard will be useful in increasing receipt notification for equipment usage and cut down on time spent tracking down such information.
"This new standard will apply to any organization that moves tangible property," says Lamiroult. "Large or small entities, regardless of commodity, should find ASTM E2606 beneficial." The subcommittee welcomes input and ideas from all interested parties for future revisions to ASTM E2606.
Referring to the Sarbanes-Oxley Act of 2002 that established or enhanced standards for all U.S. public company boards, management and public accounting firms, Lamiroult says, "Issues such as the Sarbanes-Oxley Act and diminishing work forces cry out for the use of standards. It's a win-win when there is consensus."
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Allowing companies to keep better track of equipment through consistent identification is the purpose of proposed standard WK17637. The proposed practice provides a standard approach for equipment managers to consider when physically marking equipment that will allow personnel to readily recognize ownership and promote effective management.
"Performing physical inventories has been a challenge," says Elizabeth Villeneuve, property manager, Northrop Grumman Corp., and an E53 member. "Using a scanner is the fastest way to complete an inventory, however, when you have to look for an identifying mark, it slows down the process considerably." The proposed standard, which will provide guidance for placing identification marks, will alleviate this problem, according to Villeneuve.
Equipment managers, users and operations personnel would all benefit from using WK17637.
For technical Information, contact: (E2606) Deborah Lamiroult, Bethpage, N.Y. (phone: 516-346-7361; email@example.com); (WK17637) Elizabeth Villeneuve, Northrop Grumman Corp., Reston, Va. (phone: 703-345-8324; firstname.lastname@example.org).
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