Tonyso writes in his article, entitled iPod MyPod - Gadget Theft about the potential for damage to an organization based on lost or stolen equipment. Tony mentions the SMS Device Management Feature Pack as a way to track mobile devices. Another consideration for this topic is the more recent addition to MOF content, the Security Management SMF.
It states that "Securing organizational information and the systems that are used to manage and transmit data has become a high profile function. Failure to secure information can have a severe impact on business credibility...An organization can manage risk to an acceptable level by developing security policies and making staff and commercial partners aware of their responsibilities within them."
The MOF Security Management service management function (SMF) guides organization leaders and senior managers through issues that they should consider when developing an effective security policy and implementing it through a security program. The SMF discusses the individual and team security roles and their interrelationship with operational functions. The SMF also reviews tactics and best practices to increase staff awareness and encourage continuous improvement.
Risk Management also plays a large role in examining the exposure (probability * impact) of losing various devices. With MOF risk management (an excellent resource IMHO), mitigation strategies and contingency plans are developed which are tied to the security management plan.