Explanation
According to the ServiceNow Hardware Asset Management documentation, the asset lifecycle defines and describes the series of stages involved in managing an asset throughout its useful life. The first stage of the asset lifecycle is the request stage, where stakeholders get together, discuss their objectives, and determine which assets are needed and why. The culmination of this stage is a formal request for an asset. The asset lifecycle begins when the asset is requested, not when it is procured, deployed, or fulfilled. References:
ServiceNow Hardware Asset Management: Hardware Asset Management overview ServiceNow Hardware Asset Management: What is the IT Asset Lifecycle?