Patent ID: 8061604

Claim:
An asset management system for the management of assets, the asset management system comprising: a master data management system to manage master data pertaining to objects selected from the assets, the master data management system configured to associate at least one fade out indicator with selected master data corresponding to an object selected from the asset such that the at least one fade out indicator indicates a frequency of the selected master data being accessed or modified for a certain time period, and the master data management system configured to update the at least one fade out indicator based on a change in a condition of an object corresponding to the selected master data and stored with the selected master data; and a radio-frequency identification system to enable identification of objects within the master data management system, said radio-frequency identification system comprising radio-frequency identification tags coupled to associated objects in said assets, each of said radio-frequency identification tags containing detailed object information, said detailed object information comprising updated information for a corresponding associated object after performing physical maintenance or configuration directly to the corresponding associated object and the updated at least one fade out indicator.