Obsolescence significantly affects the cost of acquiring and optimizing equipment operations in a business. It normally occurs at all phases of system acquisition. As such, identifying the risk of obsolescence early enough makes it possible to identify and implement alternative solutions, thereby greatly minimizing the actual cost of handling obsolescence in systems when it does occur. The rate at which systems become obsolete is increasing and, with it, the availability and financial risks to equipment. A well-thought out management strategy is therefore necessary for minimizing through life costs. It is a well-established fact that a comprehensive Obsolescence Management plan can greatly reduce costs and prevent interruptions to the supply and production processes.
In cases where a critical system component fails or requires modification but the replacement part can no longer be obtained from the original manufacturer or other authorized dealers, a problem occurs that can often spell disaster for the entire production process. Implementation of alternative solutions such redesign may prove to be a very expensive option.
Iridium Engineering is a full-fledged integrated logistics support provider offering effective obsolescence management solutions. We understand how challenging it is to support equipment without having to deal with downtimes, unexpected costs and unavailability of parts, particularly now that electronic components have shorter lifespans while the systems they are incorporated into are expected to last longer. We offer risk management and obsolescence monitoring services that provide you the skills for making informed decisions regarding item availability management. We will work with you to design and implement various obsolescence management policies, plans and strategies. Our deliverables include:
- Obsolescence Management Plan
- Obsolescence Risk Assessment
- Obsolescence Monitoring
- OEM Management
Whether you need help beginning a new project or work on an existing one, our team of experts in obsolescence management are available to help you craft a solution that fits your firm. To find out more about how we can be of service, email us today at email@example.com.
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