Asset-based management solution slashes costs

It found that in some users there was just 20% maximum utilisation of test and measurement assets.

The research showed the cost challenges these issues throw up. In some instances engineers waste time looking for equipment and if they can’t find it, that leads to an unnecessary purchase or rental to cover the gap.

Without an asset disposal process, equipment can be stored in a dark corner of a facility where it becomes obsolete, worthless and meanwhile the cost of replacing it has climbed.

Many companies rely on spreadsheets which can give an illusion of control while offering exactly the opposite. With an extensive body of assets it can be difficult to record information in and accurate and up to date basis.

“It can raise many questions,” explains Stuart Collin, European Marketing Director (Innovation Services) at Microlease. “Is one person in charge of the spreadsheet or is it in multiple hands, who has control, are they able to track assets accurately, can they track the condition of assets, for example does that instrument require calibration.”

“The bottom line is that poor equipment management typically adds 25% to the total cost of test,” says Collin.

The good news is Microlease has a solution. It has developed LEO 2, a cloud-based Asset Management solution - based on its experience built up managing its wide-ranging rental fleet - which can be used to manage any moveable or fixed asset, including test instruments.

It is an Enterprise Resource Planning (ERP) data model which allows businesses to implement through-life management of its assets, creating an accurate inventory of assets held, managing the acquisition of further assets, the maintenance of the asset base, and the identification and disposal of surplus equipment.

Based around sites and assets it features modules which can capture detail relating to a wide variety of actions including asset detail and configuration, asset movements, calibration, product data and drawings, logistics and filed repair and planned maintenance.

It provides complete visibility for the maintenance of the asset base including spares, and communicates this information through the use of a secure shared logistics framework offering innovative KPI dashboards and standard reports.

A key feature is an intuitive interface that allows users to search for parts, assets and locations quickly and easily – drilling down to the exact building and the rack where an asset is being held.

Data driven workflows enable users to configure LEO 2 to reflect their in-house processes. Its’ open database is built on Oracle technology compatible with SAP, Oracle E-Business Suite and other major ERP and financial systems. LEO includes standard MoD form reports and KPI dashboard.

Microlease is offering LEO 2 in three formats.

LEO Standard is for customers who simply want to log and record assets and access basic asset management functions.

LEO Select allows customers to understand utilisation by tracking assets and LEO Elite which provides full management of assets through workflows.

LEO Standard and Select are cloud based, and LEO Elite can optionally be hosted internally or via MoD secure cloud.