The second part of the Equipnet toolkit series discusses the successful management of idle and surplus assets.
The challenge
A multinational pharmaceutical company decided to take proactive control of its significant asset-base of laboratory instrumentation and pilot plant/ manufacturing equipment.
They appointed EquipNet to help them manage this process throughout their facilities - to meet the goals of:
- Ensuring that as much equipment and instrumentation that they already owned was redeployed and reused within the business
- Generating cash form any assets no longer required
The process
The EquipNet Asset Redeployment Management System (ARMS) was installed behind the company’s firewall.
This package provides complete visibility of all company assets entered into the system and includes a set of dynamic workflow management features.
Posting, tracking, searching, redeploying, or releasing equipment for sale is all handled through ARMS.
By introducing this system across 173 participating facilities, 2,312 registered users are able to see on a daily basis where equipment that they may need is currently located within the company, and complete the paperwork to request its redeployment.
The result
Through the partnership with EquipNet, the company has re-deployed 1,043 pieces of equipment, releasing a value of around $34.3 million.
In addition, items that were not redeployed were moved into one of EquipNet’s sales channels.
EquipNet successfully sold 1,493 items, generating an additional $4.7 million. A total value of $41 million has been recovered to date. The programme continues.
