How Much Should the Government Help Struggling Businesses in Times of Crises
What the Proponents of Governmental Bailouts Have to Say about Bailing Out Businesses The ongoing economic and financial crisis due to the Covid 19 outbreak has reopened the debate about how far and how much the government help businesses struggling due to the crisis. Indeed, this was the same debate that erupted during the Great […]
Why is HealthCare Expensive in the United States ?
The American healthcare system has become so expensive that it is now a make or break issue in national politics. It was a major bone of contention and regularly featured in Donald Trump vs. Hillary Clinton debates. Some people are for Obamacare whereas there are others vehemently against it. Healthcare has begun to arouse deep […]
How China Destroyed its Electric Vehicle Market
The Chinese government has given a major shock to companies selling electric vehicles in the country. China has announced a sudden rollback of the billions of dollars which were being paid in subsidies to makers of electric companies. This sudden move has left many of these companies high and dry. Many of these companies had […]
Contract Logistics Cost Model
Warehousing Costing methods vary with the business models. While some warehouses using common shared facilities may be worked up based on transaction costs, dedicated and stand alone facilities would be on a different costing model. In this section, we shall go through the cost elements of a warehouse project briefly. Warehouse Cost elements are primarily […]
Finished Goods Supply Chain Operations
FG Supply Chain consists of all activities involved in movement, storage and distribution of Finished Goods from the Delivery point of Plant to the Point of Sale. In the case of global supply chains, supply chain management gets more complicated with the variations arising out of different countries regulations and logistical practices. Computer Hardware supply […]
Plant and machinery in the initial days always perform to their fullest capacity but as time goes with regular wear and tear, this becomes increasingly difficult. If proper and regular maintenance is undertaken than production capacity can be maintained at a more or less same level.
Maintenance also requires replacement decisions. Replacement is a substitution of existing fixed asset with a new asset, which may enhance features capable of performing similar function. The need for replacement may arise because of normal use, obsolescence, early service failure, destruction, etc.
Maintenance is defined as a process in which working condition of plant or machinery is maintained at the optimum level as to give maximum output. Maintenance is done through repair, partial replacement and total replacement. Following is the significance of the maintenance policy:
If organizations are not able to implement an effective maintenance policy than it can result in the following results:
Maintenance management is process where available resources are regulated in a manner that plant and machinery can perform at specific levels. Maintenance management involves planning, scheduling and execution of maintenance-related activities. The main objectives of the maintenance management are as follows:
The maintenance department is responsible with planning and scheduling of maintenance in line with the requirement and expectation of the organization. Planning and scheduling needs to ensure that business as usual is not disturbed.
The following are key points to plan maintenance:
The need to schedule maintenance can be best described as follows:
From above it can safely be concluded that it is very critical for company to have a robust and effective maintenance and repair policy.
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