Issue link: https://iconnect007.uberflip.com/i/1415897
OCTOBER 2021 I SMT007 MAGAZINE 27 pool, but also lowers the cost of storage, cal- ibration, and other associated ownership ex- penses. In the second stage, assets are shared among users to further reduce capital requirements. is stage requires an underlying technology backbone to identify where each asset is locat- ed, which assets are not in use or intended for use, and an advanced search tool that can lo- cate needed assets by specific parameters set by equipment users. As a result, more assets will become avail- able, when and where they are needed. In ad- dition, more informed purchasing decisions can be made as requests for new assets will be vetted against available alternatives, which are now more visible. Operating costs for calibra- tion and repair activities can also be reduced through better workflow management. Case Study Synopsis When the R&D division of a high- tech electronics manufacturer had challenges tracking and managing their test and measurement assets, they deployed an Electro Rent as- set optimization solution that al- lowed engineers, lab managers, and others to assign test assets to specif- ic projects. Over time, project scheduling and R&D operational efficiency im- proved significantly, reducing proj- ect delays and cost overruns. e comprehensive nature of the asset optimization solution encouraged asset sharing and provided the data needed to reduce the size of the test fleet asset base. Aer three months with the new system, 12% of the company's as- sets were identified for disposal, generating capital for investment in much-needed new equipment. Our experience shows that orga- nizations could reduce their overall cost of test 20–25% by implementing our full asset optimization solutions. Most of the value will come from: • Lower ownership costs: As the asset base is reduced, the costs associated with owning equipment such as storage, insurance, and calibration are reduced • Recovery value of unused equipment: A cash infusion can occur from selling unneeded assets in the secondary market • Lower operating costs due to a smaller overall asset base: e cost of calibration, storage, insurance, inventory management and tax will be reduced • Improved practical availability: Although harder to quantify, there is a real benefit associated with having the right asset available, where and when needed. is The Electro Rent offices in West Hills, California.