Rotating and Non-Rotating Assets

Assets can be either rotating or non-rotating.

Rotating assets are assets that are interchangeable, such as motors, pumps, fire extinguishers, or PC monitors. Rotating assets have both a unique asset number and an inventory item number. The item number lets you track assets as a group as they are moved in and out of inventory and other types of locations, while the asset number is useful to track individual instances of the asset as it is moved from one location to another and from one site to another.

For example, a company might have four identical (same make, same model) centrifugal pumps, so all four pumps would have the same item number. To track the use, repair, and locations of each individual pump, each pump would have its own unique asset number. Before you can create a record for a rotating asset in the Assets (SP) application, the rotating item record must first be created in the Item Master (SP) application.

Non-rotating assets do not move in and out of storerooms. A non-rotating asset has a unique asset number but does not have an item number because it is not tracked in inventory.