Vesta Partners is Proud to Continue our Support as a Silver Sponsor at SAP for Utilities 2017June 29, 2017
Join Vesta Partners, September 10th – 13th at the HYATT Regency Resort & Spa in Huntington Beach, CA for this year’s SAP for Utilities North American conference. Vesta Partners will be exhibiting as a Silver Sponsor at this year’s SAP4U event.
Understanding the “Impact” Cost of Reliability and Maintenance – A Terry Wireman BlogJune 27, 2017
When considering the impact costs, consider this scenario: A production plant in a sold out condition. Everything that can possibly be manufactured is being sold to customer. If a production line or critical piece of equipment fails (unreliability) during the production run, the production is halted until the equipment is repaired and returned to service (reactive maintenance).
The Role of Maintenance in Asset Management – A Terry Wireman BlogJune 26, 2017
If your organization calculates return on fixed assets, you should be aware of the impact maintenance has on that indicator.
The investment a company makes in its assets often is measured against the profits the company generates. This measure is called return on fixed assets (ROFA). This indicator is often used in strategic planning when a company picks what facility to occupy or the plant in which to produce a product.
Asset management focuses on achieving the lowest total life-cycle cost to produce a product or provide a service. The goal is to have a higher ROFA than your competitor, so as to be the low-cost producer of a product or service. A company in this position attracts customers and ensures greater market share. Also, a higher ROFA will attract investors to a company, ensuring a sound financial base on which to build further business.
Living in an Unfurnished House: Why LMS Content is CriticalJune 15, 2017
How Healthy Is Your HR System?
Return on Investment – People or Technology?June 9, 2017
When we are making an investment in any type of improvement program, there is usually a return on investment calculation that is provided to executive management to secure the funding for the project. The investment is usually straightforward to calculate – but what about the return?
Terry Wireman – A Retirement RetrospectiveJune 2, 2017
Since I started in the maintenance field in the late 1960’s, maintenance has always been viewed as a necessary evil, an overhead, or expense function. Organizations have never learned to view maintenance as an “profit center”. This was true even though systems engineering courses taught that maintenance was necessary and the maintenance cost was specified in the design and installation of the equipment. Despite the overwhelming evidence that properly controlling maintenance costs could contribute to profitability, companies never viewed it as such. It is my hope that companies continue to explore this area for increased financial contributions to their profitability. Perhaps the total life cycle approach to managing assets as part of ISO-55000 may help companies start this journey.