Asset Management Program
The client’s existing sourcing efforts for end–of-life replacements could not be optimized due to the segmented approach used across the portfolio.
To remedy this, the client wanted an asset management program that could consistently and objectively track assets’ original value, condition, and life expectancy to properly manage risk.
The implemented asset management program enabled creation of scenarios that provided decision support to optimize service levels and create a reliable capital budget and related forecast.
- Asset management dashboards tracked the assets at a location level and provided aggregated cost views by type, expected life, and replacement cost.
- Analytical capabilities enabled creation of multiple scenarios to determine the proper balance of cost and service levels relative to equipment condition and related risk.
- By implementing a comprehensive approach to asset management, the client could create a capital plan and budget that combined end-of-life spend across the entire portfolio. This enabled category-based bulk purchasing for equipment and related services — resulting in savings of more than 4%.