Field History Tracking on Assets allows tracking location and status changes in the lifecycle of a specific component in a customer's install base by recording the date, time, nature, and user of each change. A Work Order related list on Assets would show the work orders associated with an asset, but not the location and status changes of the asset. A custom installation date field on Products Consumed would show when a product was installed,but not the subsequent changes in the asset lifecycle. A Product related list on Assets would show the products related to an asset, but not the location and status changes of the asset. References:
https://help.salesforce.com/s/articleView?id=sf.tracking_field_history.htm&type=5 https://help.salesforce.com
/s/articleView?id=sf.fs_work_orders.htm&type=5 https://help.salesforce.com/s/articleView?id=sf.
fs_products_consumed.htm&type=5 https://help.salesforce.com/s/articleView?id=sf.fs_products.htm&type=5