Meter Removal and Reverse Logistics: A New Meter Provida Contract Win
Further supporting our position as the preeminent leaders in meter reverse logistics, Meter Provida have secured a significant contract with one of the UK’s leading independent Meter Asset Providers, Utility Funding Ltd (UFL).
As we’ve mentioned in previous blogs, many organisations – including Meter Asset Managers, Asset Providers/Owners, Utility Companies, Meter Operators, and Meter Installers – are facing considerable logistical challenges as a direct result of the Smart Meter Roll-out.
In particular, they’re faced with the need to efficiently and cost-effectively remove large volumes of redundant meters in accordance with substantial and complex regulatory frameworks. For many, herein lies the problem: the vast operational demands of the reverse logistics process mean it can be difficult to simultaneously meet legal and compliance requirements, minimise costs, and take advantage of the many opportunities the roll-out presents.
Realising this, Meter Provida recently launched ‘Asset Management Solutions’ – our dedicated reverse logistics operation – and we are delighted to announce that we have secured a contract with one of the UK’s leading independent Meter Asset Providers, Utility Funding Ltd (UFL).
A New Contract Win
This contract will see us work closely with UFL to manage their reverse logistics and ensure they meet the operational and administrative requirements around the management of off-the-wall assets. Tim Houtby, Managing Director of Meter Provida, sees the contract win as the beginning of a “long-term partnership” and we are confident that the relationship will only strengthen as we move toward the Smart Meter Roll-out.
Speaking on this partnership, UFL Operations Manager, Tom Taylor commented: “As a Meter Asset Provider, tracking our meters from installation to disposal is one of our key functions and we are delighted to be working together with Meter Provida to deliver these operational capabilities. They have intimate knowledge of the metering industry and quickly implemented a robust system that meets our needs exactly. Throughout the entire process we are offered full visibility of the meters – from meter collection right through to the return of meters to field stock or their disposal at the end of operational life”.
Knowing The Risks
What our ‘Asset Management Solutions’ operation allows us to do is remove the operational, compliance and financial burdens that come with the in-house management of legacy meter removal. In working with customers such as UFL, we are able to apply our extensive specialist knowledge to mitigate the many risks presented by the roll-out.
While outsourcing might not always be the most suitable option for all organisations, some require assistance in gaining the knowledge, infrastructure, strategy and processes needed to effectively handle the reverse logistics process and capitalise on any potential additional income streams. Given Ofgem’s vigilance and willingness to impose fines and enforcement orders following regulatory breaches, weakness in any of these areas can be costly.
As a result, we suggest you conduct an internal audit of your business and familiarise yourself with the extensive regulations you’ll be subject to when removing large numbers of legacy meters. Based on this comprehensive assessment of your internal capabilities, you’ll be in a much more suitable position to determine what is the right option for you: managing your reverse logistics in-house, or following in the footsteps of Utility Funding Ltd and working with a specialist meter reverse logistics partner.
To make the decision easier, we’ve created a white paper detailing the key reverse logistics considerations you need to make. To download the paper, click here.