What capabilities does the DoD need for managing the assets it owns?
The federal government needs the ability to (1) know the quantity, location, condition, and value of assets it owns, (2) safeguard its assets from physical deterioration, theft, loss, or mismanagement, (3) prevent unnecessary storage and maintenance costs or unnecessary purchase of items already on hand, and (4) determine the full costs of government programs that use these assets (Source: GAO-02-447G, Executive Guide, Best Practices in Achieving Consistent, Accurate Physical Counts of Inventory and Related Property, March 2002, page 6).
