Summer is almost over – it is time to take that last dip in the pool and cannonball in the deep end. For tomorrow it is budgeting season. It is time to review your rental fleet and make sure you have the right assets in the right branches. If you have a large organization with lots of branches this can be a time consuming job to collect all the data and make decisions about where to spend next year’s dollars adding inventory. Luckily there are tools out there to make this job easier on you.
Wynne’s Asset Adviser is a web-based application that allows your organization to plan and manage fleet sales and purchases as part of your revenue planning process. The application allows you to view information about your entire rental fleet and to make planning decisions about which equipment to buy, sell, or transfer in the coming planning period.
Planning requires that you look at each piece of equipment you own and determine how profitable it is. Both time and dollar utilization are measured and compared to get a true picture of the inventory you have and the profitability of each piece of machinery in each location. There is also the vital information regarding the cost of maintenance of each asset. You can use that information to sell off or move under-performing inventory, and/or buy additional high performing equipment.
Asset Advisor lets you easily aggregate all of your locations, districts and region’s utilization and desired inventory levels to get a full company view. That information can then be evaluated on a macro level and used to determine what your equipment allocation should be for next year. You can determine the best place to spend capital to maximize your return. As well as how you can reallocate equipment to increase performance and what equipment should be sold.
The planning can be pushed down to region, district or location management in the same fashion that the data is aggregated up across the company.
Annual inventory planning is a big job, but there is help available. If you want to talk to an Asset Advisor specialist, reach out here and we can hook you up. Contact us now before the summer smile wears off your face and your shorts dry.