In-house Surplus Asset Management

Asset management is extremely important for companies of all industries as it would help reduce the spending on lab assets and improve the equipment utilization. The most common approach of dealing with surplus equipment is selling it in the secondary market with the help of vendors. There are various suppliers providing surplus asset management services to large pharmaceutical and healthcare companies which include identifying the idle equipment, transporting the equipment, maintenance and selling the equipment. The suppliers also provide services such as internal equipment redeployment, valuation and assessment. However, very few companies have an dedicated internal equipment management team for continuous assessment and deployment of equipment. The whitepaper will discuss in details the advantages of internal asset management team, the working procedure and cost savings that can be achieved. All the pharmaceutical companies are under intense pressure to produce lower-cost drugs. Hence all the available methods in reducing costs should be considered and worked upon by the R&D team within the company. In cases where production site gets closed, there are plenty of surplus equipment left. Also, at sites where production is less compared to other sites, new production equipment is not required and internal deployment of equipment should be followed. Unorganized equipment is an additional expense for the company and hence such equipment should be analyzed regularly for redeployment within the company or sold out for auction. Hence, there is a dire need for a dedicated team to monitor the machine utilization and understand the secondary equipment market to take a decision on the equipment.