Need & Benefits of Laboratory Asset Management Software Solution

Thinking of Laboratory Asset Management Software, you will recall the bursting of test tubes & beakers, crackling sound of Bunsen burners, and different smells of chemicals and gases in the school laboratory.

Outside that, you can recall all the medical tests you have gone through like complete blood count, CT Scan, X-ray, ECG, etc.

A laboratory asset management software is designed to process the assets of the laboratory for the purpose of manufacturing as well as carrying out research and development in an effective and efficient manner.

The Need for Laboratory Asset Management Software Solution

The industries in the life science segment like pharmaceuticals, research organizations, universities, and government agencies continuously face difficulty in managing and maintaining their assets and the economic losses faced because of them.

The assets included in laboratories that are to be managed and maintained are:

• High-Performance Liquid Chromatography
• Gas Chromatography
• Mass spectrometers
• Ultra-performance liquid chromatography (UPLC)
• Hybrid systems (LC/MS, GC/MS, MS/MS)
• Horizontal Electrophoresis
• Spectrophotometer
• And other small equipment like balances, centrifuges, etc.

All these capital assets and equipment costs from USD 50,000 to USD 500,000 each.

Due to these budget losses due to capital lab equipment the laboratory handling companies are looking for cost-effective and qualitative management of their laboratory assets.

Also Read: How Are Asset Tracking and Inventory Tracking Different?

Therefore, the laboratory driven initiatives look for the following features in the asset management software:

• Reduce Costs
• Increase Productivity
• Accelerate Service Repairs
• High-Quality Service
• Streamline Preventive Maintenance Services and Compliance Risks
• Full Servicing Schedule and Records
• Manage Equipment Booking, Setting Access Control
• Training Records Requirements
• Schedule Room Bookings
• Equipment Usage Logs and Invoice Costings

A few years back, all the pharmaceutical companies were using spreadsheets, or pen and paper techniques for their laboratory's asset management for which they suffered a lot of complex scientific as well as business challenges.

As time has grown, so is a technology with it. Now all the organizations are using modern asset management software solutions which assist them to quickly identify the equipment with its details.

Laboratory asset management software has changed the outlook to improve instrument utilization. It has improved and strengthens the laboratory strategy and management by 85% in the industry.

Through laboratory asset management software your organization can achieve the following solutions to difficult situations:

• The software will help you to track your inventory and assets in a simple manner and will maintain their records for their various locations, costs, etc.
• It will provide tags to all your assets (with metal or plastic surface) and let you accomplish consistent performance all round.
• Through passive RFID you can manage your assets at multiple locations.
• You can increase the accuracy of the readability of asset tags in a metallic environment of the laboratory.
• The tags and labels will hold out against the continuous chemical wash of equipment.
• The software will provide you with a simple and cost-effective solution.
• Through the structured and secured database, you can hold up various locations and sites at a single time.
• Through the software you can view data of each location at that site only i.e. every location will have its own data view.
• The maintenance record will directly be linked to the particular asset.
• The software will provide you with the efficient service, security, and accuracy of billing.

Also Read: How Is RFID Software Revolutionizing the Hospitality Industry?

Benefits of Laboratory Asset Management Software Solution

A comprehensive solution that can provide an accurate and efficient track of all the laboratory equipment:

• Eliminate unnecessary time utilized for searching an equipment
• Receive alerts and notifications about upcoming Preventive Maintenance or Calibrations
• Locate equipment for their Preventive Maintenance and calibrations
• Completion of wall-to-wall compliance audits at a greater speed
• Notification about equipment lease expiry or their due return date
• Allow your laboratory personnel to reserve equipment efficiently
• Helpful in tracking every aspect of an asset

A correctly implemented Asset Management Software Solution within a Laboratory can:

• Keep a track of all assets
• Manage assets from different locations
• Provide an opportunity to plan against financial, operational and legal risk
• Define the service levels
• Organize the asset portfolio
• Create a more efficient operation with the ability to track performance
• Improve time management
• Measure and monitor asset life cycle costs
• Promote the economic stability and growth of the company

From the simple yet efficient asset management, any of the items can be tracked from any of the departments for their availability, costs, etc. The various departments may include:

• Instrumentation
• General Facilities
• Rooms
• IT Equipment
• Inventory

Choose Asset Infinity for Asset Management Software Solution within a Laboratory

Asset Infinity services provide unparalleled asset management solutions for the clients. Our experienced service team provides an integrated solution for managing the maintenance of all the laboratory assets with superior service at its best, regardless of the manufacturer.

Our experts, streamline asset maintenance to provide effective and efficient, increase uptime, and reduced inventory costs.

Our Service Features Involve:

• Asset Tracking
• Preventive Maintenance Services
• Compliance Services
• Customer Service Desk
• Inventory Management
• Cloud-based Solution
• and many more...

Also Read: 10 Genius and Creative Implementation of QR Codes

Conclusion

There are many asset management software available in the market with different technologies. But it is not easy to choose the right one for yourself.

There are certain challenges and difficulties you need to handle on the front foot, keep those in mind while selecting the appropriate software for your organization. Security, Increased Revenue is the most looked feature in any asset management software.

The software you choose should provide the protected data, leveled inventory, visible maintenance records, and limited access to data to maintain the security of all the information. Moreover, the software should give you increased revenue so that you can achieve more growth and hikes in the business.