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24 SMT007 MAGAZINE I OCTOBER 2021 Feature Article by Dirk De Waart ELECTRO RENT The Challenge With so many variables to consider, making informed acquisition decisions around mod- ern electronic test and measurement equip- ment can be challenging. While this article focuses on electronic test and measurement equipment, the basic principles of asset op- timization can be applied to almost any hard asset. In the context of test equipment, asset optimization represents total equipment life cycle management to reduce costs and im- prove efficiency and productivity. Sorting through more than 100,000 products from 300 manufacturers and deciding wheth- er to buy, rent, or lease requires thoughtful consideration. Tracking equipment costs and ownership expenses, making assets readily available for engineers, and evaluating labor and asset utilization rates are also part of the equation. Across industries worldwide, we estimate that there is approximately $100 billion of test and measurement assets deployed in R&D labs, production facilities, and field service organizations. According to Frost & Sullivan, only about 30% of these assets are actually in use, leaving $70 billion of capital unused 1 . Yet, for all that investment, detailed data on asset utilization, testing costs, and the status and availability of test equipment is oen inaccu- rate, incomplete, or unavailable. In fact, most companies would struggle to create a complete and accurate list of test equipment across all labs and facilities. Another common sign of ineffective as- set management is equipment boneyards, in which unused or rarely used equipment occu- pies storage space and incurs unseen costs for calibration, repair, insurance, taxes, deprecia- tion, and other related costs—even when not in use. Many organizations use a mix of partial but generally ineffective asset management solu- Maximizing ROI and Usage of Test Equipment

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