In many companies today, maintenance is not treated as a strategic business function. Over the last decade, however, it has been clearly shown that maintenance has tremendous impact on a company’s profitability. In cases where maintenance has been managed as a business function, it has been a positive impact. In other cases, where maintenance has been an afterthought, a necessary evil, or a non-core business function, the impact on profitability has been negative. In cases where maintenance doesn’t seem to…
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It is clear that Asset Managers and Asset Investment Managers need more than the standard maintenance management systems currently provide. But how can this be achieved? The answer is through Asset Performance Management (APM). There are a number of APM solutions in the market place that are capable of using the wealth of asset information that asset intensive organisations collect as part of day to day operations.
There is a new disease that is infecting corporate America. It is not something that we will hear about in warnings from the Center For Disease Control. However, it has become an epidemic of momentous proportions. It is called “KPI-itous”. The disease is caused by an obsessive desire to measure business processes.
If you want to take Maintenance to the next level at your facility, learn to express your operation’s impact in dollars. Why? Decision making at the boardroom level always involves some degree of cost/ benefit analysis. Your ability to present senior managers with a crisp financial description of even mid-level departmental work — being able to talk their language, in other words — will do a lot to boost your persuasiveness in the budgetary process.
Benchmarking, correctly done, can cure weaknesses in a company’s operations. Incorrectly done, it can undermine an organization’s position in the marketplace.
The words, “Are we there yet?” are among the most feared words parents can hear on a long trip with their offspring. What the kids are asking, in a simpler form, is, “Haven’t we been doing this long enough to have arrived?” As Engineer’s Digest celebrates its 25th Anniversary, we are a quarter of a century into our journey toward maintenance and engineering excellence, and it seems appropriate to ask the same question: Are we there yet?
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,…