Allow the Parent Child assets to be linked so that you can create a maintenance schedule (PM) or inspections for the parent asset that would then be visible in the child records. Ideally if you were doing the PM or inspection on a mobile device, it would allow you to pick each child and complete the work or inspection.

Since we do work based on either location, equipment type, or vendor doing the work it would simplify the documentation while still allow the lookup of the information on the child record.