The Complete Lifecycle Approach: A SMARTER WAY TO MANAGE TEST EQUIPMENT

Across industries and around the world, technology development and manufacturing companies allocate a significant portion of their capital and operating budget to fund test equipment and operations. Yet, for all that investment, detailed data on asset utilization, testing costs, and the status and availability of equipment is often inaccurate, incomplete, or simply unavailable. In fact, most companies struggle to create an accurate and complete list of test equipment across the organization.

Without basic information such as asset location and availability, calibration status, and financial metrics, opportunities to improve efficiency and productivity remain out of reach. With access to real-time information, however, companies gain insights to reduce CapEx and OpEx requirements, increase ROI, and accelerate time to market.

For example, real-time information enables asset sharing, which means less equipment is needed, reducing capital spending. Operating expenses can be lowered by selling unused assets, using rental services strategically, and reducing duplicate purchases to shrink the size of the test fleet.