Obsolescence Management

Obsolescence is caused by an asset, component, or service becoming unavailable, or unsupported in the marketplace. This can be for several reasons, including technological advancements, legislative changes and manufacturers no longer trading.

At Vercity, we’ll help you identify obsolescence risk early and propose a wide range of optimisation or replacement strategies. Knowing what the future holds for your assets, gives you time to plan and cost the most appropriate parts to ensure service availability is maintained.

Proactive identification of risks ahead of obsolescence

In many cases, obsolescence is captured reactively, often after a failure has occurred, potentially resulting in prolonged remediation periods. At Vercity, we believe prevention is better than cure, that is why we actively manage risk and plan ahead.

In liaising with stakeholders, we can prepare and finalise obsolescence replacement and optimisation strategies, prior to an obsolescence event occurring. We’ve developed a toolkit, which helps identify potential risks in advance and proposes mitigating strategies.

The toolkit expands upon the requirements of BS IEC 62402 and provides the flexibility to tailor the offering to your individual needs.

Maintaining service availability of your built assets

Active obsolescence management is essential to maintaining the service availability of your built assets. In having the foresight to capture assets, we can work with the asset data to identity and manage any potential risks before they happen.

In looking to the future, we can help maintain the functionality of your assets and protect you from component or service failure that can negatively impact your daily operations. As your partner, we can help you develop a strategy that plans for replacements and ensures you are receiving value for money.

In prioritising the criticality of your assets, based on the operational risk posed, we’ll ensure you maintain service availability and continue working towards your desired outcomes.

ESG & innovative asset replacement solutions

Through effective obsolescence management, your ESG principles and responsibilities will contribute to real positive social and environmental change. In undertaking a whole life cost analysis, we can provide you with an asset replacement strategy that will enhance the lifespan of your components and service.

Whole life costing is becoming increasingly important in obsolescence management. As your trusted partner, we can help mitigate issues before they happen, improve the value of your assets and deliver positive environmental, social and governance outcomes.

In working together to achieve reliable, high performing assets, we share a commitment to sustainable development, project performance and whole lifecycle analysis.

Innovative technical solutions

In capturing live data in your operations, we can conduct a scenario analysis that looks at what components have been installed in the past and what the future holds for them, including the financial impact of failure.

We can recommend similar replacements within a defined timescale feeding into the lifecycle model, or propose upgrades that will enhance the lifespan and de-risk your operations.

In continuously seeking out the latest technology, we can make recommendations that will help you achieve your net zero targets, improve productivity and increase asset value. At Vercity, we look to the future and ensure you have an asset optimisation plan in place to futureproof your investment.