I can tell you are thinking like a medium to large size entity with formal systems in place. 🙂
There are also many customers with 20 or fewer employees who have no such systems. Frequently they have no IT people at all, and a single business owner who looks after everything.
I have know some large enterprises with many business units (often orchestrated trough holding companies), and although their finance departments have inventory tracking and appreciation schedules, there is such a large disconnect between where they are and the people operating the equipment (potentially in complete differently legal entities but in the same purchasing group), and the authority chain required to authorise equipment replacement that it simply can't happen.
At least this way the operations team could easily click on a column to sort inventory, and try and push for replacement through their channels.