A method and system for conducting a subterranean operation that can include storing, via a rig controller, pre-determined characteristics of a piece of equipment, for supporting the subterranean operation, in a unique data record associated with the piece of equipment; scanning, via one or more sensors, the piece of equipment on a rig; determining, via the rig controller, actual characteristics of the piece of equipment in response to the scanning via the one or more sensors; comparing, via the rig controller, the actual characteristics to the pre-determined characteristics; and verifying whether or not the piece of equipment is an expected piece of equipment needed to support the subterranean operation based on the comparing.