BACKGROUND
LUP Global was engaged by a US Multinational’s Australian subsidiary (referenced here as the ‘Company’) to support the plans on the dismantling of a production operation, and the experience was such a success that we created this Circular Asset Seller Case Study. Based on independent references provided to the Australian operation they approached LUP to see how support could be provided to manage the end of use disposition of these operating assets.

SITUATIONAL REVIEW
In discussions with LUP CEO and Founder Noreen Kam – a plan was developed to look at the individual assets available with a goal of minimising the risk of assets being redundant and finding their way to landfill. Through collaboration an Asset list covering 27 individual capital items was developed with ‘floor’ pricing levels established that were used as benchmarks set for the minimum pricing levels that could be offered for potential on sale.

With this guidance the LUP team then set about researching the assets and developing a prospects list of possible buyers. In total the research established a listing in excess of 200 potential buyers.

OUTCOME
As a result of the engagement over a 9 month period the LUP Team were able to on sell 70% of the capital items. LUP utilised its extensive network and research skills to move the assets on to Buyers that in many cases were also in industry sectors completely different to the Company’s operating areas.

LESSONS LEARNED
From a LUP perspective this exercise has demonstrated that with the right focus and skills redundant assets that still have a working life can be relocated and repurposed to find life extensions and avoid going to landfill.

For the Company – they have benefited considerably from the LUP support to gain a strong financial outcome that was unlikely to be generated using their own internal resources. They simply did not have the time or bandwidth and possibly the skills to dedicate the required energy to market their assets and find potential buyers.

A true WIN WIN WIN – for the Company, for LUP and for the Planet!

Interview with The Shift!

We continue our journey towards more sustainable approaches to make a better business and a better world. Media has a lot to do to support this change in the way we do things, and that is why we are so proud of participating in this interview with The Shift.

Emerging technologies – accelerated by COVID-19 and shifting geo-political dynamics – are transforming the future of work and fast tracking the shift to the digital economy. These changes present challenges and opportunities – displacing some and activating others towards new spheres of wealth and influence. The Shift brings the latest news and analysis on the technology, industry and investment trends that are shaping the future of work and driving the digital economy.

In this inspiring interview, our CEO Noreen Kam talks about our journey with LUP and the circular asset management solution we`ve developed for LUP Global’s customers. She also commented why the next 18 months will be pivotal in showcasing the benefits of circular economy principles, as disrupted supply chains caused by COVID-19 have revealed limitations in the globalised model.

Check it out the interview by clicking on the button below !

Thanks The Shift for having us! Let´s keep showing the world that there is a better way to do things 🙂

LUP – Sustainability Explored Series

We are so excited to announce the release of our second participation in a podcast, in this ocassion with the incredible Anna Chaschchyna. Anna is the owner of the blog & podcast Sustainability Explored, such an inspiring podcast about sustainability, with the participation of entrepreneurs and leaders from all around the globe. 

Anna kindly invited our CEO and Founder Noreen Kam to talk about her journey with LUP and the benefits in retaining the value of assets, a mindset that has been applied in every aspect of her life.  Two empowered women talking about their lives dedicated to a more sustainable future!  

Listen to the podcast here:

And we highly recommend not missing any of the other episodes on Anna’s inspiring global sustainability podcast!

Thanks Anna for the invite, keep spreading the voice, we know that a better future is possible 🙂

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.

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! 

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@www.lupglobal.com!

Download the attached Flyer for further information.