The Asset Management Division at this Fortune 100 company oversees over $33 billion dollars in assets. In an effort to educate stakeholders across the supply chain, they created the Asset Management Certification Program, which teaches procurement practices and maintenance procedures for capital equipment across the entire global network. The program is wildly successful, with over $25 million dollars in cost avoidance, and over $50 million dollars in cost savings to date.<\/p>\n\n\n\n
Despite the program\u2019s initial success, the organization encountered substantial roadblocks in its efforts to scale the program to more members of the company. The first iteration of the program relied on face-to-face instruction, resulting in travel and lodging expenditures, time lost while employees are removed from production, and consulting fees for outside contractors to deliver in-person training. These factors, in addition to the personal impact of travel for participants, created significant barriers that prevented the certification program from rapidly deploying across the organization.<\/p>\n\n\n\n
The objective was to create a faster, more cost-effective approach to administering the certification program, that was more convenient for participant\u2019s schedules. Additionally, it was imperative that the quality of instruction did not diminish throughout the process. <\/p>\n\n\n\n
The company worked with Leadership Academy to virtualize the asset management certification program into an online cohort-based program. A guided learning journey was built into the Leadership Academy platform, utilizing instructional materials for the certification program, and custom videos filmed by the client\u2019s team. At the conclusion of the program, participants would complete the same certification exam, now in an online format.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Large Global Life Sciences Company<\/p>\n","protected":false},"featured_media":0,"template":"templates\/full-width.php","resource_type":[7],"class_list":["post-15836","customers","type-customers","status-publish","hentry","resource_type-case-study","post","without-featured-image"],"acf":{"customer_description":"This multinational life science company manufactures and distributes a broad range of consumer healthcare products, as well as pharmaceutical and medical products for the consumer, professional, and institutional markets. The Asset Management Division at this Fortune 100 company oversees over $33 billion dollars in assets and is committed to improving the health and well-being of people around the world by providing innovative products, services, and solutions to enhance the quality of life.","case_study_pdf":"https:\/\/info.udemy.com\/rs\/273-CKQ-053\/images\/CU_Case_Study_LifeSciences__20220527.pdf","key_results":false,"archive_thumbnail":"https:\/\/business.udemy.com\/wp-content\/uploads\/2022\/07\/anonymous-cases-life-sciences-resource-thumbnail-596x348-1.png","customer_logo":"https:\/\/business.udemy.com\/wp-content\/uploads\/2022\/07\/22UBCM124B_LifeSciences-CorpU-Case-Study_Icon_tag.png.webp","customer_quote":false,"has_video":false,"quote_image":false,"quote_text":"The blended approach through CorpU leads to better learning outcomes, more actionable insight for leadership, and is easier to scale at a lower cost","quote_name":"Customer ","quote_title":"Asset Management Division","choose_resource_hubs":["default"],"publish_to_selected_resource_hubs":["yes"],"resource_topics":["cohort_learning","leadership_development"],"company_logo":"https:\/\/business.udemy.com\/wp-content\/uploads\/2022\/07\/22UBCM124B_LifeSciences-CorpU-Case-Study_Icon_tag.png.webp","show_customer_spotlight":false,"main_heading":"Utilizing Leadership Academy to Deliver Division Certification","case_study_details_paragraph":"
The Asset Management Division at this Fortune 100 company oversees over $33 billion dollars in assets. In an effort to educate stakeholders across the supply chain, they created the Asset Management Certification Program, which teaches procurement practices and maintenance procedures for capital equipment across the entire global network. The program is wildly successful, with over $25 million dollars in cost avoidance, and over $50 million dollars in cost savings to date.<\/p>\n","industry_details_group":{"include_industry_details":true,"industry_details":"Life Sciences"},"company_hq_details_group":{"include_company_hq_details":true,"company_hq_details":"New Jersey"},"number_of_employees_details_group":{"include_number_of_employees_details":true,"number_of_employees_details":"134,500"},"office_locations_details_group":{"include_office_locations_details":false,"office_locations_details":""},"statistics_repeater":[{"number_or_icon":"number","statistic_number":"89%","statistic_icon":false,"statistic_text":" decrease in cost per certification "},{"number_or_icon":"number","statistic_number":"200%","statistic_icon":false,"statistic_text":" increase in the rate of certifications completed "}],"tabs_group":{"include_challenge_tab":true,"challenge_tab_include_quote":false,"challenge_tab_quote_group":{"tab_quote_text":"","tab_quote_author_name":"","tab_quote_author_title":"","tab_quote_author_photo":false},"challenge_tab_heading":"Leadership Academy Solution","challenge_tab_text":"
<\/p>\n
Despite the program\u2019s initial success, the organization encountered substantial roadblocks in its efforts to scale the program to more members of the company. The first iteration of the program relied on face-to-face instruction, resulting in travel and lodging expenditures, time lost while employees are removed from production, and consulting fees for outside contractors to deliver in-person training. These factors, in addition to the personal impact of travel for participants, created significant barriers that prevented the certification program from rapidly deploying across the organization.<\/p>\n
<\/p>\n","include_solution_tab":true,"solution_tab_include_quote":false,"solution_tab_quote_group":{"tab_quote_text":"","tab_quote_author_name":"","tab_quote_author_title":"","tab_quote_author_photo":false},"solution_tab_heading":" Reinventing the Asset Management Certification Program","solution_tab_text":"
The objective was to create a faster, more cost-effective approach to administering the certification program, that was more convenient for participant\u2019s schedules. Additionally, it was imperative that the quality of instruction did not diminish throughout the process.<\/p>\n
The company worked with Leadership Academy to virtualize the asset management certification program into an online cohort-based program. A guided learning journey was built into the Leadership Academy platform, utilizing instructional materials for the certification program, and custom videos filmed by the client\u2019s team. At the conclusion of the program, participants would complete the same certification exam, now in an online format.<\/p>\n
The online format eliminated the need for participant and instructor travel, and the blending of asynchronous and synchronous instruction gave more flexibility to participants as they engaged in the experience. Additionally, the program leveraged internal Subject-Matter-Experts to lead training sessions, improving the quality of the instruction, while reducing the need to hire outside contractors to facilitate training.<\/p>\n
Without the travel constraints of face-to-face training, the client team was able to configure cohorts by competency level instead of geographic region, creating a better learning experience for a wider audience of participants. Participants were able to immediately apply what they had learned in their training to their specific job, in their specific facility, creating higher levels of comprehension.<\/p>\n","include_results_tab":true,"results_tab_include_quote":false,"results_tab_quote_group":{"tab_quote_text":"","tab_quote_author_name":"","tab_quote_author_title":"","tab_quote_author_photo":false},"results_tab_heading":"Cost-Effective, High-Impact","results_tab_text":"
Face-to-Face Instruction: <\/strong><\/p>\n \u2022 Duration: 60 months<\/p>\n \u2022 Completed Certifications: 170<\/p>\n \u2022 Total Cost: $900,000 \u2022<\/p>\n Cost Per Certification: $5,295<\/p>\n \u2022 Average Certifications Completed Per Month: 2.83<\/p>\n Impact:<\/strong><\/p>\n 200% increase in the rate of certifications completed<\/p>\n 89% decrease in cost per certification<\/p>\n Leadership Academy Platform: <\/strong><\/p>\n \u2022 Duration: 24 months<\/p>\n \u2022 Completed Certifications: 205<\/p>\n \u2022 Average Certifications Completed Per Month: 8.5<\/p>\n","include_looking_forward_tab":false,"looking_forward_tab_include_quote":false,"looking_forward_tab_quote_group":{"tab_quote_text":"","tab_quote_author_name":"","tab_quote_author_title":"","tab_quote_author_photo":false},"looking_forward_tab_heading":"","looking_forward_tab_text":""},"main_page_quote_group":{"main_page_quote_text":"The blended approach through Leadership Academy leads to better learning outcomes, more actionable insight for leadership, and is easier to scale at a lower cost.","main_page_quote_author_name":"","main_page_quote_author_title":"","main_page_quote_author_photo":false},"more_success_stories_repeater":[{"success_story_logo":"https:\/\/business.udemy.com\/wp-content\/uploads\/2022\/07\/22UBCM168B_Consumer-Packaged-Goods-CS__Icon_tag.png.webp","success_story_link":"\/case-studies\/cohort-learning-2\/"},{"success_story_logo":"https:\/\/business.udemy.com\/wp-content\/uploads\/2022\/06\/JabilMasterBrand_PMS2955_PMS298.png.webp","success_story_link":"\/case-studies\/jabil\/"}],"hide_footer":false,"hide_navigation":false},"yoast_head":"\n