With the change in the reporting requirements to the IUID registry, how can DOD contractors be more efficient in managing GFP?

Starting January 1, 2014, DOD contractors are required to report all serially managed Government-furnished property, regardless of value, to the IUID registry. They are required to update the IUID registry anytime the following events occur:

  • When the Government Property is received
  • When the Government Property is delivered and shipped
  • When the Government Property is consumed
  • When the Government Property is disposed
  • When the Government Property is transferred

 

This new requirement will add significant burden to contractors and they may not fully realize the cost and risk impact from this new requirement. In the contracting environment of “Low Cost Technically Acceptable”, contractors must assess the costs associated for meeting this requirement. In order to do that, contractors need to examine each processes in the lifecycle to identify areas they can improve:

  • When they receive  GFP, who enters the data about the asset? Is there a step that alerts a professional who is trained in requirements of the IUID registry to verify and approve the entry?
  • If the GFP was previously registered in the IUID registry, can they copy all the data in the registry and eliminate unnecessary data entry?
  • How do you enable validation in the data input process to minimize errors when reporting to the IUID registry?
  • If they transfer the GFP from one contract to another, can they simply leverage the data already reported to the IUID registry?
  • When disposing GFP, can they leverage the same process for updating the PCARSS (Plant Clearance Automated Reutilization and Screening System) and the IUID registry?

At E-ISG Asset Intelligence, we provide out-of-box Government Property Management solution eQuip!, to help government contractors to manage Government Property in compliance to FAR/DFAR requirements. We can help you to be more efficient in meeting the reporting requirements to the IUID registry. Give us a call 1-866-845-2416 if you would like to discuss.

What is eQuip! for Government Property Management?
How is eQuip! compared to other asset management solutions?

If you would like to set up a demonstration of the software, please call us at 1-443-927-1336

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