4 EFFECTIVE WAYS IN BUSINESS ASSET MANAGEMENT

4 EFFECTIVE WAYS IN BUSINESS ASSET MANAGEMENT

Written By: Christopher Clark

 

4 EFFECTIVE WAYS IN BUSINESS ASSET MANAGEMENT 

 

This year’s COVID-19 pandemic has caused an economic downturn for most businesses. Getting your business continuity plans regularly assessed and improved can help you thrive in situations like this.  

One area of your business that needs attention is your asset management. Here are the four practical ways of managing your business assets:

1. Identify and track your assets periodically

Have you bought the latest MacBook Air 2020? Is your antivirus up to date? You don’t need to ask these if you have a business asset inventory in place.

According to business analysts, five risk factors contribute to an organisation’s failure to manage assets optimally. These risk factors are lack of knowledge about your purchases, over or under maintenance, improper operation, improper risk management, and sub-optimized asset management systems.

Keeping an accurate inventory of all your tangible business assets is your baseline in streamlining your whole asset management process. Without asset tracking, you may be blindly harbouring ghost assets or those that you think are still present and functioning but are actually lost, stolen, or unusable.

Business Loan Expert, Shane Perry from Max Funding says, “Your inventory can also be used to assess your business standing if you want to apply for a business loan in the future. An updated inventory helps more in the process. In most cases, banks and other lenders tend to require more time to process loans.

2. Know their value and depreciation

Having a complete list of your assets will now help you assign value to each of them. The current value of your assets may not be the same back when you purchased them. For instance, Investopedia said that a car loses 20% value in the first year and 40% after five years.

Outdated and unusable assets can slow down your operations. Therefore, it is equally important to track each of your asset’s depreciation to determine which assets need replacement, repair, or disposal.

3. Use an automated asset management tool

Manual management of assets can be both costly and time-consuming. To optimise operations, investing in a business asset management tool will give you accurate results faster and in a more cost-efficient manner.

Asset management tools can address the five most common asset management issues, which include human error, technical difficulties, inventory confusion, and resource wastage. 

Asset management automation is becoming a trend as it reduces expense, enhances revenue, and smoothens day to day operations. In fact, it is forecasted that the global fixed asset management market would grow from 3 billion U.S. dollars in 2019 to 5.2 billion U.S. dollars in 2024.

 

4. Insure your assets

Accidents and untoward events can happen at any time. That’s why it is essential to protect your assets with appropriate insurance policies. When your assets are destroyed due to acts of nature such as fire and flood, business asset insurance can prevent substantial financial loss.

Knowing, tracking, and protecting your assets give you control over substantial parts of your business.  Streamlining your process will let you know what to do the next time you purchase. 

Track your assets, protect your business, and implement a strategic, proactive and long-term asset life cycle management with the help of LUP Global. Contact us now to discuss how to maximise assets and reduce waste for more sustainable development.

 

 

 

 

Interested ? Contact us !

Privacy Policy

Our growing family – Meet Irena Jovanovska, our new Circular Asset Consultant

Our growing family – Meet Irena Jovanovska, our new Circular Asset Consultant

Our growing family – Meet Irena Jovanovska, our new Circular Asset Consultant

Irena Jovanovska joins LUP Global as Circular Asset Consultant. In this role, she will direct her passion for sustainability and ensuring a better environment for future generations.

Irena has more than 10 years of academic and work experience in the laboratory inclusive of Pharmacy, Microbiology, and Molecular Biology Research. In March 2020, she was one of three recipients of the Summer Student Research Award by the Australian Society for Microbiology.

She also proudly stands for gender equity and hence founded the Women in STEM club at Swinburne University in 2019. She has a proven record of successful international collaboration with people from over 100 countries worldwide, especially while working as a Flight Attendant in Qatar Airways from 2013 to 2017.

In 2019, Irena was the highest achieving graduate in the Master’s degree in Science
(Biotechnology) at Swinburne University, and she was one of the top students during her Bachelor’s studies in Biochemistry and Physiology at Saints Cyril and Methodius University. She is also a member of the Golden Key International Honour Society, and the Australian Society for Microbiology.

Why join LUP?

I always aim to make a difference and positively influence people around me, I am excited to have the opportunity to accomplish this on a global scale through the amazing LUP Global family!

3 adjectives to describe yourself:

Trustworthy, Curious, Ambitious

What are your passions?

Healing the planet, learning and discovering new things, helping and being kind to people

 

Welcome onboard Irena! 

Interested ? Contact us !

Privacy Policy

Government Boost Fund – Circular Asset Management & Continuous Improvement

Government Boost Fund – Circular Asset Management & Continuous Improvement

The government has just provided a Boost fund for training, and as part of the ShareTree group of social enterprises with our brother company Vative a registered RTO, we can currently assist you in accessing the Boost support funds.

In summary there is this amount of government funding available for companies of:

  • $28k per person
  • 100,000 spots only available nationally

Eligibility Criteria?

  • Existing workers must be increasing employment between casual to PT or FT or PT to FT
  • Applies to all new Parttime (PT) or Fulltime (FT) employees
  • Must be an Australia citizen
  • Must not be claiming Job Keeper
  • Must not complete the same qualification as previously completed
  • Must not be a Director or CEO of the organisation
  • Maximum 30 people per entity unless on the National Skills Needs List

Aged, employment type, high qualifications and role all don’t matter.

In addition to the Boost fund there is also State Funding available to people who upskill in qualification.

LUP Global in conjunction with Vative are looking at running a combination of Diploma and CertIII/ IV in Competitive Systems and Practices (Continuous Improvement which includes Circular Asset Management).

Surplus funds can be used to do a full Culture Program around Circular Asset Management and the Projects from the Training can also all be projects around Sustainable CAPEX Procurement and Asset Life Cycle Optimisation.

Spots won’t last very long and the government funding is decreasing every day, so if you’re interested please don’t hesitate to pass this onto the relevant people within your organisation & to get in touch with us at info@lupglobal.com!

Download the attached Flyer for further information.

Interested ? Contact us !

Privacy Policy

Peak Generators – An innovative solution to reducing COVID contact transmission for on-site gas

Peak Generators – An innovative solution to reducing COVID contact transmission for on-site gas

Written By: Felipe Soraires, LUP Global circular asset consultant

“Challenging times require innovative solutions”.

Since we started with LUP back in 2017 – people that follow us know that we are in a constant learning process to understand how we can provide smart solutions to make a better world for next generations. Of course we never imagined that we would be facing a global pandemic just a few years later. To navigate these difficult times we all need to look for new ways – game changers in how we operate. Through INNOVATION we can find smarter ways to collaborate. 

If you start collaborating with people and partners who share the same values, then even the most difficult situations won´t be enough to make you fall down. This is the case of Peak Scientific, one of our dearest and closest strategic partners.

The pandemic has taught us that we need to think differently and fast, and Peak is definitely doing that, contributing with innovative and more important than ever now SAFE solutions for laboratories to source industrial gas. 

As all businesses opening up in Australia (especially in Melbourne) need a COVID safe plan, Peak´s on site gas generators are a great solution to significantly reduce the risks associated with COVID contact transmissions. Traditional sources of gas with off-site gas generation require constant contact with too many people: picking up the cylinders at the gas companies, then truck delivery to site (not to mention health and environment risks due to the high storage pressures of cylinders/ boil-off gas options). This is creating a very serious concern in many customers, given the current health situation we are facing.

Peak´s on site generators not only reduce the risks associated with COVID contact transmissions, with far fewer regular cylinder deliveries to the lab and less manual handling, but also reduce the risks associated with the supply chain, as maximizing uptime of your laboratory with your own on site generators eliminates the risk of unexpected breakdowns. 

LUP facilitates customers in conjunction with Peak’s technical experts to assure a greener way forward with major return on investments for your business with less unnecessary physical contact to make your business safer for you and each employee.

 Contact us today to find out how you can get your own contact free gas generation solution!

 

Interested ? Contact us !

Privacy Policy

Bulk Manufacturing Equipment Update Oct 2020

Bulk Manufacturing Equipment Update Oct 2020

BULK MANUFACTURING EQUIPMENT UPDATE OCT 2020

From June this year, we were fortunate enough to be able to assist one of our laboratory ”Circular Asset Seller” clients to help them re-allocate other assets they were looking to offload to other industries & sectors.

As the type of equipment they had available was predominantly Bulk handling manufacturing equipment, which was outside our standard scope of high value, portable, plug & play type assets (primarily in laboratory equipment), we took this project on as a Bespoke Consulting Project.
 
Despite being in stage 4 restrictions & lockdowns here in Melbourne (where our head office is), plus where this equipment was based for almost the entirety of this project, we are absolutely delighted to announce that only 4 months since we first started the project, we have been able to re-allocated the majority of this bulk equipment!
 
However, we need your help! Whilst over 70% of the equipment has now been re-allocated, we currently still have the following items still looking for a new home:
 
BULK CONVEYOR SYSTEM (click on the pictures below to watch short videos of the system in operation):
 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

1 – Multiple conveyor system (See below) Multiple conveyor systems for CHEP size Pallets. Pallet stacker,
light curtains and perimeter fencing incl control / electrical cabinet.
1.1 Standard CDLR pallet conveyor 3642.5 mm long x 1380 mm wide
1.2 Drag Chain pallet conveyor with rise and fall unit (2 conveyors) 3460 mm long x 1035 mm wide
1.3 CDLR Pallet Conveyor 1304.2 mm long x 1270¹ mm wide
1.4 Drag Chain pallet conveyor with rise and fall unit (2 conveyors) 1110 mm long x 1035 mm wide
1.5 Drag chain pallet conveyor 3020 mm long x 990 mm wide
1.6 Drag chain pallet conveyor 1870 mm long x 990 mm wide
1.7 Pallet Stacker
1.8 Machine perimeter fencing including 2 x light curtains approx 30 Metres
1.9 Pallet stacker perimeter fencing incl light curtain approx 3.5 metres
1.10 Control hub / Electrical cabinet AB PLC 1769 L32E and touch screen
MONORAIL ASSY
Monorail Assy – rated to 1.6 tonne – 9890mm Column centres 4110 mm high.
Refer image, the structure painted yellow:
SAFETY PLATFORM
Further images & layout can be provided:
If you or someone within your network may be interested in any of this equipment, please contact lupteam@lupglobal.com for a confidential discussion & for us to be able to provide any further information.
 
Thanking everyone in our network in advance for all your assistance & support. Together, we truly can help minimise landfill & retain the value of precious resources to promote a more Circular World!

Interested ? Contact us !

Privacy Policy

World Circular Economy Forum – A snapshot

World Circular Economy Forum – A snapshot

Written By: Felipe Soraires, Circular Asset Consultant at LUP Global 

 

WORLD CIRCULAR ECONOMY FORUM: A SNAPSHOT

On 29 and 30 September 2020, Sitra – the Finnish Innovation Fund- hosted the World Circular Economy Forum, this time virtually, due to the pandemic. The year 2020 will definitely mark our lives, individually and as a society, a year of constant change and adaptation. The COVID-19 pandemic has spread its power and consequences across the world, damaging all economies and hitting hard the deepest roots of the current economic system.

The importance of a rapid transition to a circular economy is more important than ever, and that was precisely the topic of the first session: “The Circular Economy as an accelerator for a sustainable recovery”. With a panel composed by European (currently the most ambitious region regarding Circular Economy) leaders, from governmental institutions and private sector, the speakers explained the current state of the global economy and debated how the circular economy could help the economy reboot and come back better –more sustainable- than before.

Circular Economy concepts to face current challenges

Frans Timmermans -Executive VP of the European Commission- gave detailed explanations on why he believes the Circular Economy is the best response we can provide as a society to deal the complex combined challenges we are facing: climate change, biodiversity crisis, pandemic and consequences of the industrial revolution. The importance of extending the lifecycles of products/equipments -the business model implemented by LUP – was highlighted by him: “we need products that are durable, reusable, reparable and safe… Products made for last longer, with high quality recycling capabilities, made from recycled materials”.

 

Businesses in the transition to a Circular Economy

Another interesting session was organized by the World Business Council for Sustainable Development, whose President Peter Bakker talked about the role of businesses in the transition to a Circular Economy and how the pandemic impacted on that. “The pandemic has clearly exposed our system, our society, and now we need global solutions. We need all relevant stakeholders to be engaged and better incentives for the private sector”. In an interesting debate with companies from all over the world (from Thailand to the US and Sweden), the speakers argued how circular business models helped their companies to be more resilient and competitive during these difficult times. Reduction of costs, more efficiency, value creation for customers, safer supply chain, were some of the reasons they gave.

Inspiring words from Ellen MacArthur

 (Sourced from www.euractiv.com)

 

Giving a closure to the Forum, Ellen MacArthur , President of the Foundation named after her –one of the most influential organizations promoting Circular Economy worldwide- gave a very inspiring speech, saying that her biggest motivation to work towards a Circular Economy is that “Circular Economy is a goal to move towards (…), is something that sets a target, and when you have a goal like this, you are enabled to get closer to it. I love the fact that Circular Economy goes right to the root causes of many of our many global challenges. It implies an opportunity for us, and that always resonate me”.

The whole world needs to find ways to get back on its feet, and there is a unique opportunity to support the sustainable recovery of the economy with circular solutions. WCEFonline dived into why and how a circular economy can help reboot and build resilience in the economy.

How to get involved?

The main sessions of the World Circular Economy Forum have finished, but there will be more side events during this year.

To find out more about this visit their website.

To watch the previous sessions, click HERE. 

If you enjoyed this snapshot, follow us on LinkedIn where we will be bringing all the latest Circular Economy news & updates, particularly with regards to Circular Asset Management to you:

 

 

 

or SUBSCRIBE TO OUR NEWSLETTER!

 

 

Interested ? Contact us !

Privacy Policy