Introduction
Laboratory capital asset management is complex and difficult to manage. When individual customers own thousands of assets across multiple sites making decisions on what to replace, and when to replace it can be an overwhelming task. Decisions made by lab managers are myopically focused on their department and based on “gut feel”. PerkinElmer’s OneSource service team found a way to take millions of data points on these assets and create a composite score. This allows us to quickly and easily identify outlier assets that require attention from our customers. Providing this “PerkinElmer Index” allows our customers to have data-based discussions on their capital assets, resulting in faster, better, and more impactful decisions.
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Our Insights and Analytics team interviewed customers to understand the considerations taken during capital asset planning and what factors they felt could impact their actions. We found that most of the data they wanted to consume was available in our database, just difficult to visualize and understand. Our customers required a fast, easy, and visual way to focus attention on the vital few capital assets requiring further discussion which saves time. After validating our data with hands-on, real world asset checks, we created the PerkinElmer Index. The PerkinElmer Index serves as a proxy for asset health, enabling customers to efficiently identify outlier assets for further investigation, saving time, effort, and money while improving laboratory asset management.
Customer Impact
Customers using the PerkinElmer Index to enhance their asset management programs achieved faster financial savings by streamlining their analysis. The customers also reported more constructive conversations due to easy access to contextualised and visualised data
- Upwards of 7% annualized savings on capital asset OPEX through service contract management and asset optimization
- 25% reduction in cycle time for capital planning projects
- Fast identification of optimization opportunities … no need to manually review assets
- Quickly identify the impact of product discontinuation notifications
Our use of RPA tools allows us to customize data points used in the calculation of the PerkinElmer Index and with anonymized access to the millions of data points associated with peer customer assets it provides our customers with limitless possibilities. The ability to benchmark themselves in terms of overall asset performance and understand how particular makes and models of instrumentation perform relative to one another provides tremendous value to our asset management programs.
Next Steps / Road Ahead
While exact details of what comprises the PerkinElmer Index is proprietary, we can share that this new analytics tool is ever-changing. As we work with customers through capital planning cycles, budget reviews, and service contract renewals, we learn more about what data makes the biggest impact on the decision-making process and look to incorporate that into our algorithm. Plans have already started to build a multi-year capital planner allowing customers to look into the future beyond the current capital year to optimize their replacement cycle and manage CAPEX. We also aim to provide this analysis via our OneSource Service Portal so customers can self-serve. Ultimately, our goal is to utilize the millions of data points we manage and turn it into actionable information allowing our customers to make data-driven decisions to benefit their operational and financial goals.
