What Are The Four Phases Of The Equipment Life Cycle?

Eventually, every asset will reach the renewal or disposal phase. Every asset will come to the end of its life cycle at some stage. This is perfectly normal and something that all managers have to deal with. Ideally, any equipment that your business uses will last a long time. It should have been manufactured to a high standard and then used as intended during its working life.

Additionally, the maintenance plan should have ideally helped to keep the equipment working for perhaps longer than it was anticipated. Using a good maintenance plan alongside equipment tracking software will make a difference to longevity. However, after some time, all equipment eventually fails. It’s at this stage that it will either need to be renewed, if possible, sold, or disposed of.

If the equipment can be recycled, there’s an opportunity for it to gain a new life, so the four phases begin once more. Proper disposal or renewal is a significant part of life cycle replacement, ensuring that old assets are properly replaced in a timely manner.

If the equipment does need to be disposed of, it’s of prime importance that it is disposed of in an environmentally friendly manner. It is also important that any data should be wiped for security reasons. As soon as the equipment has been disposed of, it is time for a replacement to be used, and the four phases of the equipment life cycle begin once more.