Maintenance and finance – partners

This is a 2-minute read! CFO – you need to know that maintenance can help you be very strategic in achieving greater outputs, at low cost, and for a minimal investment. Maintenance and Asset Management managers, you need to enlist Finance as your ally. Both Finance and Maintenance / AM are after the same results. Understanding this is key to becoming partners in sustaining our businesses. After all, we both have the same goals in mind.
I first published this about a year ago and received a comment about it on LinkedIn from a colleague – consultant Gary Dobson. It was powerful and very telling – he said,

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Myth busting 29: You can integrate your EAM / CMMS with RCM

Reliability Centered Maintenance is an analytical process used in decision making about how best to manage equipment and system failures, and their consequences. Much of its output comprises maintenance tasks with assigned task frequencies. Those tasks will ultimately be managed in your Computerized Maintenance Management System (CMMS) or Enterprise Asset Management Systems (EAM). You don’t need software to perform RCM analysis, but it is helpful. (more…)

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Myth busting 27: RCM is only for new assets

Reliability Centered Maintenance (RCM) was developed in the airline industry to be used for developing maintenance programs for new aircraft. There’s no doubting it – originally RCM was intended for new designs and arguably where the results of failure could be catastrophic, specifically the loss of life and where costs of maintaining had grown ridiculously high. (more…)

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Myth busting 21: Are manufacturer’s warranties worth it?

Many believe strongly in the value of warranties on new / refurbished equipment. They go to great lengths talking about how important it is to do the manufacturer’s recommended maintenance to maintain validity of the warranty. This is a continuation of the last blog article on having too many failures despite following manufacturer’s recommendations. Manufacturer’s usually recommend maintenance and spare parts for their products. In our last blog we can see that those recommendations are often flawed. So what about their warranty? (more…)

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Myth busting 19: High performing organizations spend too much on training

These days everyone seems to be cutting spending. It’s entirely discretionary, so it’s easy to eliminate. But is that a smart move?

But today, times are tough. Trade wars, protectionism, and generally sluggish economies before those were a factor have all contributed to poor corporate performance. Shareholders want more. But can you really cut costs to become profitable? No – of course not, at least not in the long term. (more…)

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Myth Busting 18: There are a lot of savings in maintenance cost reductions

Myth Busting SeriesThis one is a HUGE MYTH. Maintenance costs are a direct result of what you do and what you do produces capacity for service delivery or production (depending on your business). Cost is a consequence of your actions, available cash (in a budget) does NOT determine what you will spend. (more…)Facebooktwitterredditpinterestlinkedinmail

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Myth Busting 16: Who should run stores?

Myth Busting SeriesPerhaps the number one excuse that maintainers use for being unable to get repairs executed in a timely manner is to blame parts and their supply. For the maintenance technician on the tools, it’s a very obvious problem. No parts or materials means that work simply cannot be done without some sort of work-around / jury-rigged solution. The alternative is to get the needed materials as quickly as possible – often incurring substantial premiums on the price of the materials and premium shipping charges. (more…)Facebooktwitterredditpinterestlinkedinmail

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Uptime Webinar – free!

Did you know that Conscious Asset provides a free introductory webinar of our essential Uptime Program?

Our online learning platform provides many courses which can be taken in an efficient and timely manner, this prevents downtime with staff who would normally have to take many hours a day out of their routine to allow for training of similar courses.  (more…)Facebooktwitterredditpinterestlinkedinmail

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Myth Busting 15: KPIs

Many believe that if you can’t measure it, you can’t manage it. That’s just not right. Measurements can only count what is countable – dollars, production numbers, headcounts, timeliness, etc. They can’t count the achievement of objectives unless those objectives are purely numeric in nature.

For instance, you can count attendance or ticket sales for an event. It might appear to be a huge success by that measure, but is it a success if those attending didn’t enjoy the event? (more…)Facebooktwitterredditpinterestlinkedinmail

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