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Battery contract management is a strategy to reduce loss of business value by identifying underperforming assets, optimizing performance, and maintaining warranty coverage.
Specification guarantees and warranty contracts differ between suppliers and for each battery type. The vendor often incorporates new coverage terms for each battery generation and there is a lack of standardization in their contract language. If you have multiple suppliers that can mean hundreds of warranty contracts accumulated over just a few short years.
A simple change in the battery operation could end warranty coverage, and you wouldn’t know it. Keeping track of all the distinct limits, coverage periods, storage, charge and operational requirements is impossible with a spreadsheet. What’s more, a spreadsheet can’t keep up with daily changes in your operating environment or send you automatic alerts when there’s risk to lose coverage.
Not every underperforming battery shows it out right and is covered by a warranty contract. It’s the specifications that matter! Companies who don’t verify battery performance lose value on assets that don’t operate as guaranteed by the manufacturer. That adds up — and keeps adding up because the problem doesn’t get fixed.
Batteries and the contracts for them are assets that have value. Strategically managing them can minimize business risk and increase the value.
Reduce warranty coverage losses and stay on the right side of contracts.
Know how your batteries perform and match up to the specifications.
Take the surprise out of warranty expiration. And out of potential end-customer claims.
Arm yourself with facts to prove warranty claims or unmet specifications.
Now! It’s always a good time to manage your battery assets. Suppliers update their warranties and specifications regularly. New batteries. New periods, new limits, and new degradation terms are opportunities to review your battery performance and make your warranty coverage and guaranteed specs work for you.
As time goes by, the window to optimize your assets will close as the warranty coverage for your batteries expires and the lifetime of your batteries as listed in the specifications approaches.
Before you can see whether your batteries are meeting specifications and within coverage, you need to know what you have. A performance analysis is a great place to start because it uncovers behavior you didn’t know about.
You can use an automated battery analytics solution, or you can try to do it yourself. It all depends on your situation. If you want to get immediate value, don’t wait to automate! Going for an analytics solution will get you faster results—and fewer headaches. You can implement a battery value strategy long before your warranties expire.
Take a deep breath and remember: a cloud-based analytics solution can give you the data insights and performance proof to negotiate with suppliers at eye level. Just ask us: we’ve done it before!