The New Year marks the time to evaluate personal and corporate productivity in order to establish goals and incentives to get the year off to a positive start. Each year businesses waste valuable time and money by not managing their equipment properly. Below are ten steps that you can take to control and reduce equipment costs.
10. Inventory Equipment
Take an inventory of your equipment and create an asset list if you do not already have one. Start the year with a clear understanding of the equipment you currently own and lease, its age, and location. Evaluate whether the equipment serves its purpose and meets your expectations.
9. Equipment Location
It is important to know the location of equipment owned by your company and inspect its usage. In many cases, some equipment is being overused resulting in increased breakdowns and repairs while other pieces of equipment are hardly being used because of the location within the office. Evaluate what type of equipment is needed for each department and rearrange equipment accordingly. For example, some departments may need three printers because of all the documentation they filter through, while other departments only need one printer because they do the majority of their work online or via email. Different makes and models of equipment may be more efficient in certain areas of your business too depending on how it’s being used. If a color printer is accessed by more individuals on one end of the building then the other, that printer should be closer to those who use it. Sometimes equipment is broken and has never been repaired resulting in a surplus of equipment. It is always worth the time and energy to explore alternative equipment locations because changes in productivity and usage may become considerable overtime.
8. Purchase Equipment
Your equipment may be serving its purpose, but there may be newer, more sophisticated and more cost effective options to be utilized based on your specific needs. If your productivity is decelerating due to lack of upgrades in equipment, it is important to trade old equipment for new to assure production goals for 2010 are being met. New equipment doesn’t need to be brand new; it can be new to your company by utilizing refurbished equipment at a lower price.
7. Disposing of Old Equipment
Discard any unused and broken equipment, equipment that can no longer be maintained due to its age, or equipment that should be replaced with more effective equipment. Properly recycle old equipment, or to receive a tax write off, donate old equipment to one of the following organizations:
Gifts in Kind America
National Christina Foundation
Old computers can be donated to one of the non-profit organizations listed below:
Computers for Schools
Goodwill Industries
Salvation Army
World Computer Exchange
6. Organize Current Service Agreements
It’s easy to misplace or misfile service agreements. Take time to find all your service agreements and categorize them by equipment type and expiration dates. Consider scanning contracts onto your computer so you have electronic files instead of paper files.
5. Warranties
Familiarize yourself with equipment that is still under warranty, and what those warranties include. New equipment typically includes a one to two year warranty or guarantee that provides information on repair or replacement in the event that equipment fails during the warranted timeframe. Each warranty is unique; timelines are different and certain parts may or may not be included. With distinctive inclusions, it is important to acquaint yourself with each warranty to prevent significant financial loss in the event that equipment does malfunction. Furthermore you don’t want to have to pay for repairs or parts that are under the manufacturer’s warranty.
4. Vendor Performance Evaluation
Evaluate the quality of the vendors you are using. There are numerous vendors. Find a vendor that will suit your expectations and guarantee proper repair. Don’t forget to ask for references, and don’t settle for the OEM (Original Equipment Manufacturer) for repairs. Find some you are comfortable working with. Evaluate your vendor’s based on what is most important to you:
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Are you satisfied with their response time?
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Do they clean up after themselves?
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Are they courteous?
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Are their invoices accurate?
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Do they answer your questions clearly?
3. Preventative Maintenance
Schedule Preventative Maintenance (PM) for the year to thwart unexpected breakdowns and extend equipment lifecycles. Once PMs have been planned and service reminders set up, you can focus on more important issues as they arise.
2. Green Initiative
Become environmentally friendly through your equipment maintenance by using less energy. Request that staff members turndown their computers, printers, fax machines, copiers, and other more sophisticated equipment at night. Turning equipment down when not used saves money and the environment, but it also helps extend the lifecycle of the machine entailing greater savings in the long run.
1. Equipment Asset Management
Implement an Equipment Maintenance Management Program and you will receive the following benefits:
- Maintenance costs reduced by 10 to 22%
- Contract management of equipment maintenance portfolio
- Equipment maintenance reports and maintenance management reports available 24/7 through “Remi Online”
- Extended useful life of all equipment assets by ensuring proper maintenance
- Relieve staff from unnecessary hassles in managing equipment service vendors, service contracts, and related paperwork
- Annual renewal date with a “capped” yearly maintenance budget
- Choice of service provider
Now it’s time to establish a plan on how you will spend your savings in the upcoming year.
Happy New Year!
