#105 - Chatting With Alexander Schuessler: The history of SmartEquip

Alexander Schuessler is the President, International Group & Founder at SmartEquip.Alexander was a Co-Founder of Caterpillar Rental Services Network, and initiative put together by Caterpillar in the 90's to investigate the potential future of rental. This formed an introduction to the equipment rental industry, where Alexander noticed the challenge businesses were having when trying to procure parts.Fast forward to today and SmartEquip is now used by the top 5 largest equipment rental businesses in the world to streamline their parts procurement processes.LEARN ABOUT OUR SPONSORS & PARTNERShttps://www.smartequip.com/If you’re an equipment owner, you know time is money and equipment uptime is crucial. Did you know your technicians might be spending half their time searching for parts using multiple log-ins and paper manuals instead of repairing equipment?If your fleet management team is wasting time establishing pricing terms, searching through your ERP system, and creating work orders, then your parts procurement process isn’t designed for speed or accuracy.Solve this with SmartEquip Procurement. SmartEquip saves time, money and increases uptime for your equipment.Best of all, with a single log-in, you can streamline your procurement lifecycle, into one easy-to-use solution. SmartEquip Procurement is the leader in parts procurement technology that simplifies finding, sourcing and buying the right parts and supplies.HRIA Event in Hunter Valley - August 18th - https://comms.hireandrental.com.au/link/id/zzzz5babb87346dd1017/regform?evuid=zzzz629d9f9d6a508518&fbclid=IwAR0EUATYhjQHxKUDQ4HOLf84dmItf6SfWlxttCKMoRBLbd-VG6-8VDHFETUHRIA Event in Darwin - August 31st - https://comms.hireandrental.com.au/link/id/zzzz5babb87346dd1017/regform?evuid=zzzz62cb8e8b70c7a220The Hire & Rental Industry Association (HRIA) promotes hire as the preferred choice for Australian business and consumers through supporting members, hire businesses, developing people and growing the industry. Celebrating our 50th anniversary in 2018, the HRIA continues to be a powerful voice for the hire industry in Australia, providing direction and support to enhance the success and safety of hire businesses in Australia.PODCAST INFO:Podcast website: https://www.therentaljournal.com/podcast-episodesApple Podcasts: https://podcasts.apple.com/au/podcast/the-rental-journal-podcast/id1529824111Spotify: https://open.spotify.com/show/1EhZH7P39tgHJpmAyaF1He?si=xDVjELiFTqSX_u8fwbV5Uw&nd=1SOCIAL:LinkedIn: https://www.linkedin.com/company/the-rental-journalInstagram: https://www.instagram.com/therentaljournalpodcastTIMESTAMPS:0:00 - Introduction0:35 - Intro to the rental industry1:18 - Caterpillar Rental services network4:02- Founding SmartEquip4:54 - PHD from Harvard6:39 - Rental in the 90's11:21 - Beautiful data problems13:04 - Equipment lifecycle14:49 - Repair or replace decision17:28 - Rental KPI's19:18 - Benchmarking data24:32 - What is SmartEquip30:51 - Downtime mindset shift38:23 - Reasons for success41:39 - Acquired by Richie Bros46:45 - Who use's SmartEquip49:00 - Integrating with rental software51:17 - Challenges in the early days55:42 - Key mentors1:01:05 - Two ways to be successful