How Can Asset Management Benefit Your Lab?


Lab Product News

LabNews10.14_3An innovative outsourcing model is being employed by laboratory managers as they look to gain visibility of surplus and idle assets – instrumentation and analytical equipment – under their control, and to manage the redeployment or disposal of redundant items.

Working with an outsourcing partner is not a new concept within the chemical, pharmaceutical, and biotech companies. By concentrating on the core areas of business and working with specialists for other, non-essential tasks, they are able to manage costs better, boost efficiency and increase ROI (return on investment).

Thanks to today’s focus on process simplification and maximizing efficiency, these methods have become vital for day-to-day operations in many sectors. Recently, laboratory leaders targeting the highest levels of excellence are turning to the proactive management of idle and surplus instruments and equipment. To put this into context, research suggests that on average, 5% of a company’s global asset base is lying idle. By recognizing the often dormant value in these assets, managers can make a significant impact on their bottom line.

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