An item which can be identified as a single stand-alone entity with specific physical and functional characteristics. It can be procured, stored, distributed, fabricated, assembled, maintained, applied, and so on. A physical item can be broken down into other physical items (components) in accordance with a specific configuration.

Items such as plant equipment, support equipment, weapons, aircraft, ships, tools, computers, vehicles, and their components such as mechanical, electrical, electronic, hydraulic, and pneumatic parts, are classified as physical items.

The term Hardware can also be used as an alternative to Physical Item. Software items (other than document software files) and firmware are handled by AssetWise as physical items.

See also CONFIGURATION, DOCUMENT, EQUIVALENT, FIRMWARE, ITEM, SOFTWARE, and VIRTUAL ITEM.