Issue link: https://iconnect007.uberflip.com/i/1415897
28 SMT007 MAGAZINE I OCTOBER 2021 reduces product development timelines and helps get products to market faster Getting Started in Seven Steps In most cases, realizing the benefits of asset optimization includes the following steps: 1. Any asset optimization initiative starts with setting clear goals and baselining current inventory and performance. is could include an audit of current inventory and utilization levels as well as the cost to serve the existing test fleet. 2. In the second step, an onsite team assesses the existing process and quality of asset data to determine what will be required to load accurate information into the database and update existing processes. 3. In most cases, existing asset information oen has missing data and is insufficient to use in an asset tracking and optimization system. Missing fields such as equipment options, location, and other similar infor- mation need to be identified through a full audit. It is not uncommon at this stage to find assets that the client was not aware it owned. 4. In parallel with the asset audit, assigned users are fully trained on the optimization tools and processes. At the end of this step, the users have been trained, the database is clean and complete, and from this point forward assigned "super users" are respon- sible for maintaining the integrity of the database. 5. Several months later, when sufficient infor- mation has been collected, we use this data to analyze usage patterns and identify opportunities to reduce the asset base.