Meaning of Inactive Asset and Idle Asset?

Asked by phamus 6 years ago | 1 Answers

What are the meaning of Inactive Asset and Idle Asset?

1 Answer

phamus 6 years ago

Inactive Asset: Inactive assets are shut in temporarily for simultaneous operations, not performing as designed, in need of repair, etc. and specific plans are in place or being developed to return the asset to full operation.

Idle Asset: An idle asset is an inactive asset where operations are suspended with no immediate plans to bring it back into service.