Top executives and thought leaders are always searching for innovative ways to trim costs and increase operating efficiencies. This is even more important when facing economic challenges that are impacting bottom line profits and available working capital. While each company may tailor its own response, a study conducted at the Wharton School of Business, concludes that organizations need to change core business practices that affect the way assets are managed.

Companies need to improve asset utilization to reduce capital spending. Executives are discovering that traditional ERP asset management modules are focused on financial treatment rather than utilization of assets. Identified weaknesses include:

• An inability to track capital equipment across multiple locations or facilities;
   
• A lack of reporting capabilities to handle such details as production equipment descriptions, images, manuals, service logs and training videos;
   
• Inconsistent updates by the internal owners of the assets; and
   
• Difficulties in analyzing asset utilization.

Northcore's asset tracking and inventory management applications help asset-intensive organization keep track of critical assets and equipment regardless of where they're located in the world. The impact is bottom line savings with decreased purchases and proven methods to reduce costs.

Northcore's Asset Tracker software simplifies the transfer of equipment, eliminating shipping delays,
interruptions to manufacturing activities, and loss of key assets.

CAPABILITIES
Designed for ease of use our web-based applications deliver comprehensive capabilities, including:

• Request, schedule and approve the transfer of equipment and assets from one location to another
   
• Manage assets and equipment from remote locations
   
• Track the status of material transfer activities
   
• Simplify the processing of cargo manifests and customs documentation
   
• Determine the ownership of mixed assets
   
• Integrate materials transfer data with logistics and financial systems

BENEFITS
Northcore's Asset Tracking and Inventory Management applications deliver significant benefits to asset-intensive organizations, including:

• Streamlined material and equipment transfer processes, resulting in reduced production downtime and increased savings
   
• Easier identification of surplus or idle assets that can be redeployed for more productive use
   
• Improved financial reporting of asset management activities
   
• Improved integration with maintenance, procurement and finance activities

To explore how Northcore's asset management solutions can help your organization get more value from its capital equipment, please download a brochure, connect with us or schedule a demonstration of our capabilities.