Balancing Costs, Driving Efficiencies – The True Importance Of Asset Management
Asset management is a well-known process within the industrial market sector but much lesser known, are the management services available for specialist measurement equipment. (Read More)
Here James Sherlock, UK key accounts manager for Trescal, highlights the continuing importance of managing and monitoring equipment and explores how stock upgrades can truly drive efficiencies.
When you consider that asset management is focused around managing and monitoring equipment, it doesn’t seem that taxing. Where some customers struggle however is finding suitable partners to work with, with many choosing original equipment manufacturer (OEM) providers and opting for add-on service rather than a dedicated offering. With the correct approach, asset management will instigate effective pooling and asset sharing of equipment across sites, reduce costs, and improve efficiencies throughout the life of equipment.
An experienced asset management provider can supply proven software and methodology to help make the process of monitoring and managing equipment as simple as possible and it needn’t be the OEM provider offering this service. A successful programme should be able to identify procurement avoidance, reductions in calibration and repair costs, and be led by a team of technical experts. As a result customers should see an increase in service levels and significant savings potential.
What to look for
Building a successful calibration asset management strategy needn’t be a challenge with the first step being to carefully select a suitable provider. Before agreeing to carry out any work a Schedule of Accreditation, detailing United Kingdom Accreditation Service (UKAS) accreditations, should be requested.
This will provide assurance of the provider’s capabilities, in terms of independence, quality and technical knowledge. For example, if a provider is accredited to the ISO9001 standard, this is an indicator that performance and service is consistent across all operations, which provides reassurance to customers on the credibility of calibrations. Similarly, ISO9001 benchmarks consistent performance and service across all operations. Other accreditations such as ISO / IEC 17025, whilst not a requirement for asset management, is core when verifying a providers competence to carry out tests and calibrations. There is also the ISO10012 guideline, which is designed to manage and demonstrate compliance of measuring processes and equipment.
In short, these standards are an important way of verifying that a device has been calibrated by a trusted provider, and is traceable to International System of Units (IS). This is important given that a business could be tasked with providing evidence that a device has been calibrated, by an accredited provider, and when.
OEM vs third party provider
By choosing a third-party independent of the OEM, for an asset management programme, one of the main advantages is in the objectivity of the provider. For instance, a third-party will always offer an unbiased solution to a problem, whether that’s repairing what’s already there, purchasing new equipment, or even using second hand items.
The real added-value comes when a customer chooses a tailored solution to asset management. Ideally any new partnership should begin with a full audit of equipment, flagging common business inefficiencies such as the unnecessary re-purchasing of equipment already in stores, or incorrect calibration intervals which could be costing the business more than is necessary. In some instances for example, companies have been sending stores equipment to be calibrated at the required date, despite the fact that they aren’t currently in use and will require further calibration before being operated/installed.
With due care and attention at audit stages, Trescal has helped large companies identify 30 to 50 per cent of assets which are not being fully utilised. It is also possible to highlight any potential assets that can be traded-in with funds used against other new equipment purchases. This provides large potential cost avoidance, savings of thousands, possibly millions in the first few years, depending on the current businesses stores situation.
A thorough audit can help a business to continually monitor the operational life-cycle of products from ‘cradle to grave’, while also ensuring each asset continues to meet compliance criteria, in line with the latest industry accreditations.
The role of online databases
Luckily developments in asset management software are making it even easier and clearer for companies to service and document the journey of equipment and fulfil equipment’s on-going maintenance requirements. Online databases offer different levels of instant and easily accessible operational control, from a single source. This gives engineers the freedom to quickly and reliably access a central store of equipment via a database and request to share or pool equipment between different sites. Trescal has found that by investing in an internal team of software developers to develop customised solutions, this in-turn provides peace of mind while significantly saving time and reducing administrative costs.
Additional benefits of online management software is the ability to choose from a number of bespoke solutions, such as flagging the different calibration intervals equipment requires or perhaps recording and ensuring compliance with metrology standards. This is all whilst providing access to instrument inventory and history control, as well as managing asset availability including the costs of deployment and ownership. In fact, Trescal has a unique ‘Master Library’ database to generate the relevant information, statistics and history required to optimise calibration intervals and maintenance decisions.
To further cater to the specific calibration and management needs of businesses, Trescal also has dedicated teams across the UK with experience and success in asset management. The business has expertise across several domains to provide a one stop shop for technical and normative support; from set-up to the on-going maintenance and improvement of processes. This gives businesses added peace of mind that the asset management system will be equipped to adapt over time, whilst taking into account the changing metrology landscape.
Ultimately, realising the true potential of assets should be a day-to-day concern if businesses are to reap the savings and efficiency benefits. The best advice would be to always do your research and don’t automatically revert to the OEM, which could end up costing businesses more in the long term. Third party providers can offer real added value to a business through asset management but it’s up to customers to embrace the opportunity and to take an integrated approach in order to meet the complete requirements of a business.
Liane Avery – Marcoms Co-Ordinator
Tel: + 44 (0) 1252 533 317
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