One of the major challenges any organisation who rent or lease equipment to their customers faces, as the business grows, is in the service and maintenance of that equipment known as, Asset/Equipment Lifecycle Management.
In our experience at least part of this process is laboriously managed off system in standalone databases, or Excel – leading to operational inefficiencies, errors, lost revenue and disgruntled customers.
DynaRent and Microsoft Dynamics 365 changes all that by managing the entire end to end process, delivering a system that proactively supports the management of all your assets, and can dramatically improve Customer Experience.
The following diagram illustrates the life of your assets within both standard Dynamics 365 for Finance and Operations and DynaRent, our fully embedded Rental and Lease Management Solution.
Procurement
Standard Dynamics 365 for Finance and Operations is used to create the purchase order based on requirement driven from orders, tasks or jobs within the system. DynaRent allows for shipment tracking within the system until delivered.
Receipt
DynaRent extends the concept of inventory by allowing the creation of Business Objects within the system. These allow specifications to be added to products so that they can be searched for against specific criteria. Once a shipment has been received, DynaRent adds the equipment to the Business Objects library and automatically manages standard inventory records.
Managing Inventory & Deployment
Once your asset is recorded in Dynamics as a Business Object you can activate it within DynaRent as a Fixed Asset enabling your equipment to be visible for rental/lease quotes or orders. This allows you to quickly and efficiently manage your global fleet – scheduling equipment deployment. In addition, DynaRent can assist in managing your Transportation requirements through a graphical Transport Plan Board (see below), ensuring that the right asset is deployed to the right location at the right time, minimising unnecessary transportation costs and driving efficiency.
Image: Graphical Transport Management in Dynamics 365 for Finance and Operations
Service & Maintenance
DynaRent supports your business by automating maintenance tasks, triggering periodic, corrective or recall service and maintenance tasks on equipment – for example when certain pre-defined thresholds are met. These can be base don either time or consumption.
These service and maintenance tasks can be graphically planned, assigned, monitored and tracked within the graphical DynaRent Service Planboard (see below).
Image: Service Planboard with different tasks assigned to resources
Reassignment
DynaRent also manages the reassignment and/or return process once your customers rental period expires. DynaRent will automatically generate a Works Order to manage either the return, or reassignment to another rental customer/location depending on demand, and in a mirror to the Deployment activities – the Transport planboard is used to manage the transportation of assets efficiently between locations.
Quality
When an item is returned, the system can generate an automated quality inspection, and subsequent service/repair tasks as required, after which your asset is returned to the rental repository and made available for subsequent rental/lease management.
At every stage in the lifecycle illustrated above, your Dynamics 365 and DynaRent solution will show you real time and accurate information on the health, location and status of every one of your assets, taking the pain out of your operation in managing your assets efficiently, reducing unnecessary administration costs; transportation costs and optimising your maintenance and service schedule.
Interested in finding out more about our Rental and Lease Management solution?
