Enterprise Asset Management
A major commercial testing laboratory needed help to right-size its laboratory equipment inventory.
Over the years, the company had adopted a capital acquisition and asset utilization strategy that allowed the mechanical life of the scientific instruments to run out, until age and disrepair rendered the instrumentation useless. This strategy served the company well during good economic times because it would buy new equipment as the stream of testing contracts flowed into the company. However, over time, new competitors entered the market and a downturn in the economy led to contract margin erosion.
Market conditions left the company with less income and an aging fleet of scientific instruments and excess lab equipment. As the economy improved, the company found that its older instruments’ analytical capabilities could not compete with its competitors’ more modern instruments regarding turnaround time, throughput and sensitivity.
To remedy this inventory problem, the company took advantage of Agilent CrossLab Enterprise Asset Management services. Agilent CrossLab’s enterprise services provide clients with a complete portfolio of lab-wide service and support programs focused on the client’s scientific and business goals and objectives.
To uncover inventory disposition opportunities, Agilent CrossLab program managers used its Laboratory Business Intelligence (LBI) capability to run a series of inventory reports to ascertain the make-up of the installed base of scientific instruments. They queried the LBI system on a variety of inventory factors and technology life cycle metrics to evaluate the condition of the inventory, for example, OEM, make, model, type, quantity, age, number of service calls, utilization, criticality and the end of guaranteed support dates.
Based on the asset management reports, the Agilent CrossLab program managers collaborated with the client in a series of business meetings to discuss the data and plan a technology disposition strategy to right-size the inventory.
Technology disposition is the practice of recovering the economic value for laboratory equipment no longer used by the laboratory to prepare, run, analyze or store samples. The client recovered over US$500,000 by using a combination of technology disposition channels to help right-size the inventory:
- Sold nonproductive Agilent instruments back to Agilent CrossLab
- Sold or donated nonproductive scientific instruments in the secondary market
- Recycled old components reducing disposal and hazardous waste costs
- Sold or retired nonuseful equipment to scrappers
From –80 °C freezers to mass spectrometers and informatics platforms, laboratory stakeholders are looking for ways to drive maximum scientific and business outcomes from their inventory of laboratory equipment. Agilent CrossLab brings together its Technology Life Cycle Management, Laboratory Business Intelligence, Remarketed Instrument solutions and program managers to provide clients with strategies for disposing of scientific instruments and laboratory equipment.
- Maximizes instrument availability and uptime for greater productivity
- Rationalizes the installed base of laboratory equipment for greater effectiveness
- Reduces and manages operating and capital costs
Agilent CrossLab’s effective enterprise asset management strategies help clients mitigate inventory risk, operating expenses and equipment obsolescence.