Due to the economic downturn and a decrease in demand, many companies have executed drastic cost cutting initiatives. Although probably justifiable for the short term, we all know that these so-called “quick wins” can have serious drawbacks on the long term.
By proactively monitoring your maintenance cost levels in your computerized maintenance management software (CMMS), you will have the ability to reduce costs in a sustainable way. In fact, organizations are able to reduce maintenance spending by 20-50% by implementing a sustainable cost savings initiative.
During this session, guest speaker Remco Jonker from Mainnovation provides an overview of the Cost Control Improvement Cycle, and discusses:
1) Asset based budgeting
2) The concept of gate-keeping
3) The use of reports and KPI’s to support processes