Issue link: https://iconnect007.uberflip.com/i/1415897
26 SMT007 MAGAZINE I OCTOBER 2021 tions, including shared spreadsheets, ERP sys- tems that are not designed for test and mea- surement equipment, and an assortment of partially effective programs and applications. Because these systems tend not to share data, they cannot provide the holistic insights need- ed for informed decision-making. Without ba- sic information such as asset location, avail- ability, calibration status, and financial met- rics, opportunities to improve efficiency and productivity remain out of reach. As Uber, Airbnb, and other asset sharing companies have shown, expensive and un- derutilized or underperforming assets can be shared to increase ROI, provided the initiative is supported by the right technology platform. With centralized access to real-time informa- tion, companies can gain insights needed to re- duce CapEx and OpEx requirements, improve operational efficiency, and accelerate time to market. Organizations can address this challenge by deploying the latest asset management solutions. is brings numerous benefits, in- cluding cost reduction, operational efficiency, productivity improvements, and reduction of duplicate purchasing and overspending, which increase utilization and ROI on test equipment. Now these asset management and optimi- zation tools are available to owners and us- ers of test and measurement equipment. With thoughtful strategies for the optimized use of test assets, leaders can make more informed decisions while ensuring continual access to the latest test equipment and technology. The Solution Achieving a meaningful improvement in uti- lization across the global test equipment port- folio is a two-stage process. In the first stage, companies gain a complete and accurate view of their existing asset base, including which as- sets are unused or underutilized, and which can be sold or disposed of. is not only gen- erates new capital for reinvestment in the asset