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Key Concepts: Assets, Custody, Condition, Location

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Written by Iman Zulhisham
Updated over a week ago

As an Asset Custodian in FieldEx, your role centers around the physical accountability, condition monitoring, and location tracking of assigned equipment. To perform this role effectively, you need to understand four key system concepts that drive asset management in FieldEx: Assets, Custody, Condition, and Location.

Tip: These four concepts form the foundation of asset tracking. Every status update, transfer, or inspection in FieldEx relies on accurate data across these categories.

Assets


In FieldEx, an asset is any equipment, tool, device, or machine that is:

  • Uniquely identified (via serial number or asset code)

  • Tracked across its lifecycle

  • Linked to a site, user, or project

  • Subject to inspections, transfers, and jobs

Examples of tracked assets:

  • Pressure testing equipment

  • Field tablets or diagnostic devices

  • Customer-deployed hardware

  • Serviceable machinery assigned to a technician

Each asset record contains details like:

  • Serial number

  • Model and category

  • Status (e.g., Available, In Use, Under Repair)

  • Assignment (custodian, project, or location)

  • Full service and movement history

Custody


Custody refers to who is currently responsible for the physical oversight of an asset.

In FieldEx:

  • Custody can belong to a user (e.g., technician)

  • Or be linked to a site, customer, or department

  • You can transfer custody between people, projects, or locations

  • Custodians are accountable for asset availability, condition, and correctness

Important: You don’t "own" the asset you’re responsible for its whereabouts and status.

Condition


Condition describes the health or usability of an asset at any point in time.

Common condition statuses include:

  • Good / Functional

  • Needs Inspection

  • Under Repair

  • Damaged

  • Retired

Custodians can update condition manually, or it may change automatically through job activity (e.g., a repair job completion).

Why this matters:

  • Technicians should only receive assets in safe, usable condition

  • Faulty or unfit items must be reported and reassigned quickly

  • Accurate condition tracking ensures safe and compliant field operations

Location


FieldEx tracks where an asset physically resides, this is called its Location.

An asset can be:

  • Assigned to a site (e.g., customer location)

  • Assigned to a project (e.g., construction or service task)

  • Assigned to a user bin (e.g., technician’s van or personal kit)

  • Reassigned as it moves across facilities or teams

Location assignments are visible in the asset profile and updated via:

  • Job completions

  • Manual reassignment

  • QR scan-and-transfer actions

An asset is never “floating”, it is always tied to a person, project, or place.

Summary


Concept

What It Means

Why It Matters

Asset

A physical item tracked across its lifecycle

Ensures traceability and accountability

Custody

Who is currently responsible for the asset

Enables direct accountability in the field

Condition

Current usability or status of the asset

Impacts job safety and readiness

Location

Where the asset is physically or operationally assigned

Helps prevent loss and improves response time

As an Asset Custodian, these four concepts form the core of your daily responsibilities. FieldEx gives you the tools to manage them accurately so every asset is where it should be, in the right hands, and ready for use.

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