A power distribution apparatus includes a reader, one or more electrical outlets, and one or more antennas mounted in proximate relation to one or more of the electrical outlets. An asset includes a power cord having a transponder attached thereto, and the power cord may be coupled to one of the electrical outlets. A method for identifying and managing an asset includes mounting the power distribution apparatus in an equipment rack, reading, by the reader through one or more of the antennas, identification data contained in the transponder, communicating information including the identification data through a network to a controller, and determining, by the controller, a control action based on the information.