Laboratory Asset Management Software

Laboratory asset management software provides a specialised solution to streamline the tracking, scheduling, and maintenance of laboratory equipment and resources.

What is Laboratory Asset Management Software?

Laboratory asset management software is a specialised tool designed to manage the equipment and resources used in a laboratory setting that assists in the tracking, scheduling, and maintenance of laboratory equipment, as well as the management of laboratory consumables and supplies. This software is used to automate processes such as inventory management, calibration scheduling and equipment maintenance, making it easier for laboratory staff to manage their equipment and supplies efficiently.

If you want to learn specifically about laboratory asset management, we created a comprehensive introduction here.

Why is Laboratory Asset Management Software Important?

Laboratory asset management software is a critical component in ensuring that laboratory operations run smoothly and efficiently. It helps to reduce equipment downtime, improve equipment utilisation, and minimise operational costs. It also provides an effective way to manage regulatory compliance by tracking equipment maintenance and calibration records, managing staff training and certification, and providing audit trails for regulatory inspections.

5 Key Challenges in Laboratory Asset Management Software

Here are 5 key challenges that laboratories may face when implementing and maintaining laboratory asset management software:

Maintaining Accurate Data: The primary challenge in laboratory asset management software is ensuring data accuracy, the common phrasing being “Garbage In, Garbage Out”. The software relies on accurate data to function effectively, and any errors or inaccuracies can lead to mismanagement of laboratory resources. Therefore, laboratories must ensure that the data they input into the software is correct and up to date.
System Integration and Compatibility Issues: Integrating laboratory asset management software with existing laboratory systems and processes can be challenging. Laboratories may need to modify their existing systems or invest in additional software to ensure seamless integration with the asset management software. This challenge could difficult or effortless depending on your asset management software and the vendor behind it.
Change Management Struggles: User adoption can be a challenge in laboratory asset management software, as staff may be resistant to changing their established workflows. Laboratories, together with the software vendor, need to provide comprehensive training to ensure that staff are comfortable with the new system and understand its benefits.
Maintenance and Upgrade Hassles: Maintenance and upgrades of laboratory asset management software can be challenging. Laboratories must ensure that the software is kept up to date with the latest security patches and features to ensure it continues to function effectively. This challenge gets increasing harder to manage if the software solution has tailored features for the customer.
Cost vs. Benefits Dilemma: Cost can be a significant challenge in implementing laboratory asset management software, especially for smaller laboratories with limited budgets. Laboratories need to weigh the costs of implementing the software against the benefits it provides and ensure that the investment is justified. Later In article we provide consideration for choosing a laboratory asset management software solution.

5 Key Benefits of Laboratory Asset Management Software

Here are a few benefits that are common across the healthcare segment, including laboratories:

Improved Efficiency: Laboratory asset management software improves the efficiency of laboratory operations by automating processes such as inventory management, equipment calibration, and maintenance scheduling.
Cost Savings: Laboratory asset management software helps to reduce costs by preventing overstocking or understocking of laboratory supplies, ensuring that the laboratory has the necessary resources to carry out its operations.
Improved Maintenance and Decreased Downtime: Enables laboratories to get more information for planning maintenance sessions. And therefore, prepare repairs and upgrades to be carried out in quieter periods or prepare for increasing resources to manage the tough periods.
Enhanced Regulatory Compliance: Many laboratories are subject to strict regulations that govern the use and management of laboratory equipment and supplies. Laboratory asset management software provides a centralised system for tracking and documenting the use of equipment and supplies, making it easier for laboratories to demonstrate compliance with regulatory requirements.
Maximised Asset Utilisation: Laboratory asset management software helps laboratories to make better use of their equipment and resources by providing real-time monitoring and alerting systems that notify laboratory staff of any issues with equipment or supplies.

What does Laboratory Asset Management Software do?

There are several features in asset management software that are made to fit medical and organisational needs. All organisations and their needs are unique; therefore, we can only discuss from a general point of view.

Same as all organisations being unique, so are the asset management software as well. The software may vary in features they provide, future development roadmap, availability for customers to customise the software. Our asset management software solution made for the healthcare segment has the following features and more:

Asset Registry & Management: This feature is fundamental to laboratory asset management software, as it provides a centralised system for tracking and managing laboratory assets, including equipment and supplies.
Preventive Maintenance (PM): This feature helps to ensure that laboratory equipment is maintained at optimal levels, reducing the risk of equipment failure and downtime.
Work Orders (WO): This feature allows laboratory staff to create and manage work orders related to equipment maintenance, repair, and calibration.
Data Analytics: Laboratory asset management software should provide data analytics features that enable laboratory staff to make data-driven decisions about equipment usage, maintenance, and procurement.
Contract Management: Managing contracts for laboratory equipment and services can be challenging, so having a contract management feature within the software can help to streamline this process.
Helpdesk: Laboratory asset management software should have a centralised helpdesk feature that enables laboratory staff to submit and track service requests related to equipment and supplies.
Competence Management: Keeping track of personnel training, certification, and roles is crucial in laboratory operations. Therefore, having a competence management feature within the software can help to ensure that laboratory staff are adequately trained and competent.
Integration: The laboratory asset management software should be able to integrate with other laboratory and organisational software solutions.

Considerations for Choosing Laboratory Asset Management Software and Vendor

When choosing a laboratory asset management software solution and vendor, there are multiple factors to consider:

The software should meet the unique needs of your laboratory, including tracking and managing laboratory equipment, consumables, and supplies.
The vendor should have a good reputation in the industry and offer excellent customer support. Ensure that they have a responsive support team that can quickly resolve any issues that may arise.
The software should be scalable and adaptable to accommodate your future growth and changing laboratory needs. The laboratory asset management software solution needs to be able to expand (or diminish) with regards to your organisations size and demand.
Consider the vendor’s experience and expertise in asset management software in the healthcare segment. The vendor should have a deep understanding of the healthcare industry, the regulations, as well as the unique challenges that healthcare providers face when managing their assets and equipment.
Look for software that provides robust reporting capabilities, including analytics and dashboards that enable data-driven decision-making.

We hope these considerations can help you can guide you through the process of choosing a laboratory asset management software solution and vendor that best meets the unique needs of your laboratory and helps you achieve operational efficiencies and regulatory compliance.

Summary

Laboratory asset management software is a tool used to manage laboratory equipment and resources efficiently. It automates processes such as inventory management, calibration scheduling, and equipment maintenance, reducing downtime and minimising operational costs. The challenges include maintaining accurate data, system integration, user adoption, maintenance and upgrade hassles, and cost vs. benefits dilemma. Benefits include improved efficiency, cost savings, enhanced regulatory compliance, and maximised asset utilisation. Features include asset registry and management, preventive maintenance, work orders, data analytics, contract management, helpdesk, competence management, and integration. When choosing a vendor, consider features, user-friendliness, scalability, and customer support.

If you found this article relevant for your laboratory and seem to need an asset management solution. We are happy to discuss your needs to see if we might be a solution for your needs or at least guide you forward. It is entirely free, and we can provide a free personalised demo to fit your environment.