Fixed Asset Management Information System
CHAPTER ONE
RESEARCH AIM AND OBJECTIVES
The purpose of this research is to design a web based fixed asset management system for Delta line motors limited and also enhanced on the report feature to analyze status, accessing value and risk and anticipating failures using the naïve bayes supervised machine learning technique.
The objectives of this study are:
- To review existing systems
- To design a web based fixed asset management system
- To enhance on the report feature using the naïve bayes supervised machine learning techniques to analyze status, accessing value and risk and anticipating failures
CHAPTER TWO
REVIEW OF LITERATURE
OVERVIEW OF FIXED ASSET MANAGEMENT SYSTEMS
Fixed assets management is an accounting process that seeks to trace fixed assets for the needs of monetary accounting, preventive maintenance, and theft deterrence.
Organizations face a big challenge to trace the situation , quantity, condition, maintenance and depreciation status of their fixed assets. A popular approach to tracking fixed assets uses serial numbered asset tags, which are labels often with bar codes for straightforward and accurate reading. The owner of the assets can take inventory with a mobile Universal Product Code reader then produce a report.
Off-the-shelf software packages for fixed asset management are marketed to businesses small and enormous. Some enterprise resource planning systems are available with fixed assets modules.
Some tracking methods automate the process, such as by using fixed scanners to read bar codes on railway freight cars or by attaching a radio-frequency identification (RFID) tag to an asset.
Tracking assets is a crucial concern of each company, no matter size. Fixed assets are defined as any ‘permanent’ object that a business uses internally including but not limited to computers, tools, software, or office equipment. While employees may use a selected tool or tools, the asset ultimately belongs to the corporate and must be returned. And therefore without an accurate method of keeping track of those assets it might be very easy for a corporation to lose control of them.
Asset tracking software allows companies to trace what assets it owns, where each is found , who has it, when it had been verified , when it’s due for return, when it is scheduled for maintenance, and therefore the cost and depreciation of every asset.
The reporting option that’s built into most asset tracking solutions provides pre-built reports, including assets by category and department, check-in/check-out, net value of assets, assets overdue , audit history, and transactions.
All of this information is captured in one program and may be used on PCs also as mobile devices. As a result, companies reduce expenses through loss prevention and improved equipment maintenance. They reduce new and unnecessary equipment purchases, and that they can more accurately calculate taxes supported depreciation schedules.
The most commonly tracked assets are:
CHAPTER THREE
METHODOLOGY
This chapter reviews how the existing system works as well as how to produce a better alternative for its improvement. The relationship among actors, entities, platform and information flows within the organization is very important. In a nutshell, system investigation and analysis studies an existing system with the view of improving on it or developing an entirely new system to replace the existing one. The major task here is to design a new system using tested and trusted development methods that is as efficient and probably more efficient than the existing one. The software development model is the Waterfall model.
CHAPTER FOUR
SYSTEM IMPLEMENTATION AND TESTING
IMPLEMENTATION
This study was able to implement a fixed asset management system using web programming technologies. The system was created in such a way to be able to store and keep record of each fixed asset in the company. This will make us able to track the number of fixed assets at any point in time. In addition, the testing was done by way of a questionnaire gauging their user experience.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATIONS
SUMMARY
A fixed asset management system was developed in this project. The system was able to register users and store their information and enabling login to make entry of assets system.
This project also explored the authentication and the encryption aspects of a project like that. User experience was also measured through the use of a detailed questionnaire.
CONCLUSION
In conclusion, the fixed asset management system development is providing a way to have a good user experience, effectively and reduce the cost, slow nature and labour of the traditional methods. However, we have been able to increase the level of trust among internet users.
RECOMMENDATION
For future works, improvements can be made in terms of user identification and verification. Data security, data retrieval and fraud detection and reporting should be a vital consideration in development of any further web based data storage systems.
REFERENCES
- Ambuli, T., Surendher, R., Praveen, S., & Pavithra, P. (2019). A Study On Fixed Assets Management With Special Reference To Polaris Consulting And Service Limited, Chennai. International Journal of Research in Management and business studies, 6(1), 23-27.
- Balavanthula, S., Shireesha, I., & Vara, L. T. (2019). A study of fixed asset management in LG Electronics. International Journal of Scientific Development and Research (IJSDR), 4(12), 135-139.
- Balavanthwa, S., Shireeshal, L., & Vara, L. (2019). A study on fixed assets management. International Journal of scientific development and rsesearch, 6(4), 23-29.
- Barbara, N., Daniel, M., Sherry, M., Rachel, B., Gassia, F., Bradley, B., . . . Kyle, E. (2019). Artificial intelligence and machine learning in asset management. Blackbook.
- Bergen, A. (2021). Fixed Asset Management Software Features and Requirements. Retrieved 1 2021, from Selecthub: Confidence in software:
- https://www.selecthub.com/cmms/eam/fixed-asset-management-software-features-benefits-vendors/
- MRISoftware. (2020). A Guide-Hurdles Of Fixed Asset Management. Retrieved 1 2021, from Real Asset Management: https://www.realassetmgt.com/articles-papers/white-papers/overcoming-the-hurdles-of-fixed-asset-management.html
