Property Management Handbook - Equipment Management Property Management Handbook 5. Equipment Management Receiving Equipment Newly acquired equipment, regardless of the method of acquisition, should be reviewed upon receipt. Bills of lading should be verified against Purchase Orders or other receiving documents to assure that the order is complete. If overages, shortages, or damages are discovered, the vendor or shipper should be contacted immediately. Equipment should also be tested to make sure that it functions properly.
Most vendors provide a limited warranty on their product.
Care should be taken to test the equipment within the allotted warranty period. All assets purchased through the Banner FIS system have a record generated automatically which results in an inventory tag being sent to the owning department. All capital assets must be added to inventory within 60 days of receipt. Any asset stolen or damaged after that 60 day window may not be covered by Risk Management. All equipment on the OSU inventory must be tagged with an OSU bar-code inventory tag, which is furnished by Property Management.