Scientific Instrument Asset Management
Improved Productivity And Savings With Instrument Asset Management
Is your lab success dependent on easily acquiring and disposing of scientific instruments? Are you looking for a way to minimize your overall capital expenditure for instrumentation? If you are looking to better predict and manage the lifecycle of your high-ticket lab instruments, then an asset management plan is the solution you are looking for.
BETTER INSTRUMENT LIFECYCLE FORECASTING
Successful asset management stems from the ability to forecast the useful life of an instrument in a laboratory. Armed with this knowledge, research and development organizations can proactively plan. Newer technology can be acquired to coincide with the timely disposal of older instrumentation, maximizing the value back into the budget.
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LEVERAGING INSTRUMENT LEASING TO REDUCE EXPENSES
The mechanism that controls a successful asset management program is a lease. A lease is put into place on an instrument with a definite end date. Notification provided prior to the lease expiring. This is the catalyst which drives the replacement technology, and the de-installation and certification of the older technology which will be returned to McKinley Scientific.
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MATCH YOUR ASSET MANAGEMENT PLAN TO THE BUSINESS GOALS
A comprehensive, systematic asset management program could take years to fully implement. The first step is for your company to evaluate your equipment needs based on business drivers. Establish an equipment replacement plan that meets personnel and budget requirements.
McKinley Scientific will determine the market value for current scientific equipment and help establish the useful life, economic life, and future utility value for all new equipment. Establish an equipment renting/ leasing process that coordinates the scientist’s equipment needs with finance and procurement.
Frequent Questions About Laboratory Instrument Asset Management
WHY SHOULD YOU USE OUR ASSET MANAGEMENT PROGRAM?
The asset management program decreases maintenance and utility expenses by providing a systematic instrument replacement program with using capital funds. The program eliminates the risk of project or technology obsolescence and maximizes equipment residual value. New equipment increases productivity by decreasing equipment size and down time while increasing sensitivity, functionality, speed, and regulatory compliance. The asset management program eliminates equipment depreciation and related expenses (write-off, transport, storage, disposal, and personnel). Generally, employee retention and new employee recruitment is enhanced by providing state-of-the-art equipment and facilities.
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IS ASSET MANAGEMENT EXPENSIVE?
Purchasing instruments that do not have a long-term usefulness is very expensive and can lack the discipline of timely disposal. Often instruments are kept around for years but lie idle. When they are eventually sold they return pennies on the dollar because the functionality cannot be guaranteed and therefore value is lost. Leasing maximizes the value by recognizing that an installed and maintained instrument has none of these uncertainties. McKinley Scientific will invest in the technology and gain a return when the instrument is sold at the end of the lease. The investment lowers the lease payment cost by accounting for the future value at the start of the lease. The net result is an efficient method for paying for usage of the instrument.
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WHAT ARE THE PITFALLS?
As long as we work as partners, there are no pitfalls. There are multiple lease structures that provide for flexibility if usage is uncertain. At the end of the lease if equipment is returned complete, working and certified, McKinley Scientific will be able to resell the instrument into secondary and tertiary markets, recover our investment, enabling us to invest in new technology with you.
