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Best Practices for Asset Management in Universities
Mar 11, 2025
Universities manage thousands of assets—laboratory instruments, laptops, projectors, scientific tools, classroom supplies, sports gear, maintenance equipment, and more. With multiple faculties, large campuses, and shared resources, tracking and maintaining these assets becomes complex.
This article outlines best practices to help university administrators, IT teams, lab managers, and operations staff maintain visibility, reduce loss, and optimise asset utilisation.
Why Universities Need Strong Asset Management
As universities grow and become more complex, managing assets like equipment and resources effectively is key to supporting their academic, research, and operational needs. Proper asset management ensures resources are used efficiently, reducing waste and maximizing their value for the institution.
1. Managing Assets Across Multiple Campuses and Buildings
Universities have assets spread across many locations such as classrooms, labs, offices, dorms, and sports centers. Managing all these assets can be difficult without a centralized system, making it hard to keep track of resources and ensure they are used properly.
Common Challenges
Items moved without documentation: When assets are moved between departments or buildings without being recorded, it’s hard to track them down later.
Hard to identify the last user: If there's no system to track who used an asset last, it becomes difficult to find out where it is or who is responsible for it.
Lost visibility across locations: Without proper tracking, universities can lose sight of where assets are across various campuses or departments.
High-value assets misplaced: Expensive equipment used in research can easily be lost if it’s not properly tracked.
Summary: To mitigate these risks, universities need a centralized system capable of tracking assets across all campuses, buildings, and departments.
2. Reducing Loss and Unauthorised Borrowing
Shared equipment often moves between departments without oversight, increasing the risk of loss or unauthorized use.
Issues Leading to Loss
No clear borrowing process: Without a system in place for borrowing equipment, items may be taken without proper record-keeping.
Inconsistent tracking: Different departments may use different tracking methods, leading to confusion and a lack of accountability.
No accountability for damage: If no one is responsible for damaged assets, the university faces higher repair or replacement costs.
No digital record of location: Without a digital system, it’s hard to know where equipment was last used.
Summary: Strong assignment workflows are critical to ensure that assets are tracked properly, reducing the risk of loss, unauthorized borrowing, and protecting the university’s investments.
3. Improving Maintenance and Compliance
Many university assets, like lab equipment, need regular checks and calibration to ensure they work properly and safely.
Risks of Poor Maintenance
Research delays: Poorly maintained equipment can cause delays in research projects.
Safety hazards: If equipment is not properly maintained, it can pose safety risks, especially in labs.
Failed audits: Lack of maintenance can lead to failed audits, damaging the university’s reputation.
Expensive repairs: Neglecting maintenance can lead to costly repairs or the need to replace assets.
Summary: Digital maintenance schedules allow universities to manage and monitor the condition of their assets, ensuring they remain functional, safe, and compliant with industry regulations.
4. Optimising Procurement and Budget Allocation
Universities often overspend on tools and equipment because they don’t have accurate data on usage or availability.
Symptoms
Duplicate purchases: Without visibility into existing assets, universities may buy the same items multiple times.
Underused assets: Some equipment sits unused, wasting money and space.
Budget waste: Without knowing which assets are in good condition, universities might replace items that are still usable.
Summary: By providing visibility into asset utilization, universities can make more informed procurement decisions, optimize their budgets, and avoid overspending on unnecessary purchases or replacements.
Best Practices for Asset Management in Universities
In order to manage assets efficiently, universities must adopt best practices that focus on improving visibility, accountability, and long-term value. As universities expand, managing the diverse and widespread resources across campuses can become increasingly complex. Therefore, implementing structured strategies for asset tracking and management is essential to enhance operational efficiency, reduce waste, and maintain high levels of accountability across all departments.
1. Standardise Labelling Using QR Codes or Barcodes
Consistent and standardized labelling of assets is fundamental to tracking and managing resources accurately. When assets are tagged with QR codes or barcodes, they can be quickly identified, scanned, and logged into a centralized system, facilitating seamless asset management. This practice creates the necessary foundation for visibility and accountability.
Recommendations
Use durable labels for lab environments
Integrate tags with a digital system
Include asset IDs and department details
Summary: Standardized labelling, particularly through QR codes or barcodes, is the foundation for effective asset oversight, allowing for efficient and accurate tracking across the university.
2. Implement Digital Check-In/Check-Out Workflows
A digital check-in/check-out system is crucial for maintaining control over university assets. This practice involves formally assigning assets to specific users-be they staff or students-enabling universities to maintain detailed custody trails for every asset. By
Benefits
Know who used an item last
Reduce disputes over damage
Improve accountability
Track movement history
Summary: Transparent digital check-in/check-out workflows significantly reduce the risk of unauthorized borrowing, loss, and disputes, ultimately improving asset accountability.
3. Use Digital Condition Reports and Checklists
For assets such as laboratory tools, workshop equipment, and classroom resources, regular inspection and maintenance are essential. Digital condition reports and checklists facilitate a consistent and standardized approach to asset care. These digital records enable universities to track the condition of assets, ensure compliance with safety standards, and prevent unforeseen issues.
What to Include
Pre-use checklists
Damage reporting with photos
Calibration reminders
Maintenance logs
Summary: Using digital reports and checklists to track asset condition and maintenance ensures safety, extends equipment lifespan, and ensures operational reliability.
4. Introduce Smart Storage for High-Value Equipment
For high-value or sensitive equipment, secure storage solutions are essential to prevent theft, damage, or unauthorized use. Smart storage solutions, such as electronically controlled lockers or key-controlled rooms, provide enhanced control over these resources, ensuring that only authorized individuals can access them.
Advantages
Only approved users gain access
Automatic access logs
Better control of shared resources
Summary: Implementing controlled access to high-value equipment via smart storage solutions significantly reduces the risk of theft, misuse, and unauthorized access.
5. Analyse Asset Utilisation for Better Procurement
By analyzing asset usage data, universities can gain valuable insights into which departments or units truly require additional resources. This data-driven approach allows universities to make more informed decisions about procurement, ensuring that budget allocations are spent efficiently and resources are distributed where they are needed most.
What to Analyse
Frequency of use
Peak borrowing times
Idle equipment
Departments with recurring shortages
Summary: Asset utilization analysis allows universities to make data-driven procurement decisions, optimizing their budget and ensuring that resources are allocated effectively across departments.
Practical Example: Managing Lab Equipment in a Science Faculty
In a university’s science faculty, the management of lab equipment is critical for both teaching and research. The faculty is responsible for a wide array of resources, such as microscopes, pipettes, centrifuges, laptops, safety tools, and calibration equipment. These tools are essential for conducting experiments, teaching students, and ensuring the safety of all involved. Without proper management, these assets can quickly become disorganized, leading to inefficiencies and disruptions in academic and research activities.
Before Best Practices
Before implementing best practices, the science faculty faced significant challenges in managing its equipment. These issues were hindering the efficient operation of labs and affecting the overall learning and research environment.
Tools frequently missing between labs
Students unable to find available equipment
Calibration overdue
Professors unaware of asset locations
After Implementing Best Practices
The introduction of asset management best practices significantly transformed the way the science faculty managed its lab equipment. These practices included the use of modern technologies and systematic processes to improve efficiency and accountability.
QR labels added to all lab tools
Students check out tools using mobile scanning
Condition reports logged with photos
Maintenance schedules automated
Outcome
The implementation of these best practices led to several key improvements:
Asset loss dropped: With QR code tracking and mobile check-outs, equipment was returned on time and in good condition, reducing the risk of loss.
Maintenance improved: Automated schedules ensured equipment was regularly serviced, reducing breakdowns and keeping tools reliable.
Labs operated more efficiently: Better tracking allowed students and professors to find equipment quickly, reducing delays and improving productivity in research and learning.
How MapTrack Helps Universities Manage Assets
MapTrack offers a flexible and user-friendly platform designed to streamline asset tracking for academic institutions. This system enhances operational efficiency, accountability, and resource management across university campuses.
Real-Time Visibility Across Campuses
MapTrack provides administrators with instant access to crucial asset information:
Asset location
Assignment history
Condition status
Maintenance schedules
Fast Check-In/Check-Out
The barcode and QR scanning features make it easy for both students and faculty to borrow and return tools quickly, reducing manual tracking and ensuring accurate records.
Digital Condition Reports & Checklists
MapTrack enables digital reporting for lab equipment and campus tools, allowing for quick damage assessments, maintenance logs, and pre-use checklists to maintain safety and functionality.
Smart Lock Integrations
For high-value or restricted items, MapTrack integrates with smart locks, ensuring that only authorized users can access sensitive or expensive equipment, minimizing misuse or theft.
Summary: MapTrack centralizes asset management, enhances accountability, and lowers operational costs for universities by providing real-time tracking, automated processes, and improved security.
FAQ
What university assets benefit most from tracking?
Laptops, lab tools, projectors, scientific instruments, sports gear, cameras, and maintenance equipment.
How do QR codes help universities manage assets?
They provide fast scanning, accurate identification, and easy digital check-in/check-out.
Can students borrow equipment with a tracking system?
Yes—assignments record who borrowed what and when, improving accountability.
How does asset tracking support audits?
By maintaining digital logs of conditions, maintenance, and location history.
Is this useful for multi-campus universities?
Absolutely. Asset visibility improves significantly across buildings and locations.
Does MapTrack support lab maintenance workflows?
Yes—checklists and condition reporting help track lab safety and inspection requirements.
Conclusion & Actionable Takeaways
To improve asset control and budgeting, universities should:
Label all assets with QR or barcodes
Use digital check-in/check-out
Implement condition reports and maintenance logs
Secure high-value tools with smart storage
Analyse usage to optimise purchasing decisions
Centralise asset tracking across all campuses
MapTrack supports universities by combining visibility, accountability, and mobility into a single, powerful platform.
