DC Solar, (an American manufacturer that produced trailer mounted solar generators) declared bankruptcy and investors had to scramble to verify, identify, inspect, and sell thousands of mobile solar generators across the United States.
- Assets spread out at over 38 different locations in 17 states;
- Timing was critical to secure the assets and satisfy the courts;
- Specific details and photographs had to be captured for each unit;
- The data needed to be managed in a secure cloud environment for collaboration between involved parties.
A team of 26 people was deployed nationwide to create an inventory in less than two weeks using AssetTrax. A custom deployment of the AssetTrax system was rapidly deployed for use in the project. To ensure consistent data collection by the field team, the system included such required data fields as location, make, model, serial number and hours.
In 10 days, over 7,000 individual items were cataloged, with over 40,000 photos captured using AssetTrax. The bankruptcy court and creditors received real time system access to search equipment and establish proper ownership, allowing proceedings to continue and decisions reached. The invnetory was seamlessly transferred from AssetTrax to GA Global Partners to be sold at auction as equipment was released by the court and designated for sale by the trustee. During this project 18 companies and and estimated 120 individuals collaborated using AssetTrax as the cloud based solution to manage over 7,000 items, spread across 38 nationwide locations.
London’s Heathrow Airport is one of the busiest and largest international airports in the world. In 2015 Heathrow retired their famous Terminal 1, setting the stage for its complete demolition. The Airports Commission wanted to be socially and environmentally responsible, so they developed an RFQ for vendors to minimize waste and redeploy, reuse and resell as much as possible during the decommissioning process.
Industry: Airport & Aviation
The AssetTrax system was a key element in the proposal for the winner of the RFP. Deployed by CA Global Partners, AssetTrax supported the creation of an interactive inventory across multiple asset categories for a variety of uses.
A team consisting of airport personnel, other site vendors and CAGP staff collaborated to identify and catalog sellable assets. Permissions were used within AssetTrax to limit the information available based on the intended use of the participant. Since AssetTrax is a multi-user, cloud based software the information was always current, and could be accessed from multiple locations for multiple purposes at the same time. Custom reporting was used extensively on this project.
Heathrow’s management team was able to review item details, including photographs, to identify assets for use at the other terminals. Some categories of assets, including security equipment and baggage handling machinery, were made available to other other airports via a secure portal powered by Assetrax. These inventories could be securely shared with key personnel in real-time and were instantly updated as items were added or removed. Prices and key details were restricted to only those with permission to view them.
Other categories such as memorabilia, artwork and furniture could be reviewed by museums and local authorities before being cleared to be sold at auction. Assetrax was the inventory engine used to catalog and manage all the assets before it was directly moved to an online bidding platform for recapitalization via a series of public online auctions.
For over 30 months, AssetTrax has been used on a daily basis to help manage the asset recovery at Heathrow Airport during the Terminal 1 decommissioning project. The technology helped drive important decisions that ultimately lead to the highest use from a variety of recovery methods.
Spread out over 30 yards in 18 states, this company had a mobile fleet of over 3,000 vehicles with a capital value over $1 billion dollars. Their current asset management system was outdated and cumbersome. Primarily developed for accounting purposes it did not include the tools they needed for fleet maintenance, location tracking and other essential on the ground activities associated with rolling assets. The cost to upgrade the system was prohibitively expensive.
Fleet management was shifted over to AssetTrax. There are over 100 individual data points tracked on each asset. Now yard managers can schedule maintenance, renew licenses and track repairs. They are utilizing the mobile app so they can capture key data like hours and mileage weekly regardless of where the asset is located. The corporate office maintains oversight since AssetTrax is a permission based cloud based system. Over 80 people are using the system on a daily basis to help manage their inventory and generate new reports to help improve profitability.
Using AssetTrax surplus assets are first offered to other yards and then preferred vendors before being liquidated in a public forum. This allows for the highest possible recovery from surplus equipment.
With extensive experience in managing large scale assets in various locations throughout the world, AssetTrax was selected to be the preferred provider in the administration and recovery of Rio Tinto’s excess assets. We started by evaluating condition and salability, and provided forecast ranges of recovery which proved to be highly accurate. By providing strategic and consultative guidance in the redeployment and disposition of identified assets, Rio Tinto was able to make informed decisions to achieve optimal results for their bottom line. Through GA Global Partners, AssetTrax managed the marketing and sale of the surplus equipment.