Life Cycle Management

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Life Cycle Management

There are subtle variations of this application however all life cycle management seeks to complete a small list of tasks, this is often confused, within a larger operation however there are ways to provide this data in a meaningful way.

• Item age, item owner (If applicable) purchase value, current value including depreciated value (HMRC), current condition and availability for use or deployment.

• Track items by owner, you may have a number of items which although are the same actually belong to a number of different vendors, this is particularly true in multi-vendor environments where you provide service to several clients within the same business sector proving a robust life cycle management process is in important sales tool

• Life cycle, how many times has it been repaired, is it a bad actor, most common failure of the item specifically and of the item batch (if applicable) including and reason (Root Cause Analyses) specific and avg repair costs, including management of parts used in the repairs.

• Current location including previous location history including failure rates by site (high fail rate could indicate training issue).

• Total cost of ownership, what does it cost to own and use in the business, is it earning you revenue or costing you money.