We have a location that is currently used as a storage room but the management decided to lease out that room so it is now a retail site. Eventually, we would like to change the Location type as "Retail". We do not have an option to change the Location category to "Retail". The workaround is to change the location state to "DECOMMISSION" and create a new location with the required category.

The disadvantage of this workaround is that we lost the history.

The same with the asset as our assets expand we would like to reclassify our asset types and this is usual in every organisation.

This is the same with an asset type.As our assets expand and organisation expands we would like to reclassify our asset types - This is a common practice in every organisation.

I worked with IBM Maximo and JD Edwards both of the products provide this flexibility.