Abstract: A system and method for the inventory of physical assets utilizes a digital computer based system including work station terminals each having an interactive graphics display screen in which the information displayed on the display screen may be graphically altered by the user. Inventory designation data may be obtained by a hand-held laser reader from a bar code label affixed to the item. Absolute geographic location data in terms of latitude, longitude and elevation, each within one foot of accuracy, is associated with each inventory item and with its designation data.