Classic Physical Inventory

For classic physical inventory processing, suppose that you are inventorying computer equipment. An IT discovery tool obtains the physical attributes of a workstation, along with the amount of installed memory, the type of monitor, the amount of free hard disk space, and the installed software on the computer. You then load physical inventory data and the physical information gathered by the discovery tool software into Asset Management. The physical inventory processing determines the assets that have been added, transferred, or retired. Using these results, you perform matching and generate transactions to reconcile the data in Asset Management with the results of the physical inventory.

Classic Physical Inventory Processing

These are the steps to process classic physical inventory:

  1. (Optional) Extract physical inventory asset data from PeopleSoft Asset Management.

    PeopleSoft Asset Management provides a physical inventory system that enables you to extract asset data from the PeopleSoft Asset Management database into a sequential file and then load it into a bar code scanning device. You can also extract data from third-party information technology (IT) asset discovery tools. Such discovery tools belong to a class of software that you can use instead of bar coding for laptops, computers, and other IT equipment. These discovery tools poll the assets over a network and update a central database.

  2. (Optional) Use the extracted physical inventory data to generate a sequential file or Excel Comma Separated Value (CSV) file that a bar code scanner or inventory device can use, and enter the file into the scanner.

    Steps 1 and 2 are necessary only if you want to display data from your PeopleSoft Asset Management database as you scan each asset. The displayed information can include asset IDs, tag numbers, serial numbers, manufacturers, models, descriptions, departments, locations, and so forth. This asset data can provide instant information about an asset's history.

  3. After you scan assets, load the scanned data into PeopleSoft Asset Management and resolve any duplicate tag numbers and serial numbers.

  4. After you match the physical inventory scan scope to the scanned data, generate physical inventory results for review.

  5. Generate transactions based on the results.

    You then load the transactions to reconcile the data in PeopleSoft Asset Management with the physical inventory results.

  6. Delete the physical inventory transactions, physical inventory results, and physical inventory scanned asset data when you no longer need them.

  7. (Optional) If you created an extract file, delete that file when you no longer need it.

Prerequisites

Before you can perform a physical inventory in PeopleSoft Asset Management, all assets must have tag numbers. They must also belong to a particular department or location, or you must have some other way to track their whereabouts.