Documentation – A Control Mechanism of Supply Chain Logistics
Supply chain operations and network extend beyond domestic boundaries and global boundaries of all countries. A logistical exercise originates at the buyers end and involves multiple agencies including buyer, seller, 3PL freight forwarder, transporters at various juncture, shipping lines, airlines, various governmental agencies, customs departments at various locations and financial institutions like banks to complete […]
Are Women Leaders Better Than Their Male Counterparts? Lessons from the Pandemic
How Women Leaders Were More Effective Than Their Strongmen Counterparts The Covid 19 Pandemic has taught several lessons. Right from the crisis of neoliberalism to the way in which the leaders of the countries and the businesses provided leadership, the pandemic has made us realize some bitter truths about our leaders. For instance, all the […]
Inventory Management Systems
Modern day inventory is managed by sophisticated system applications that are designed to manage complex inventory plans and to a large extent contain processes that initiate and streamline the operations and inventory management. In the wake of improvements in the communication technology, companies are deploying one single ERP system across all factories, offices, departments and […]
Role of HR Consulting in Mergers and Acquisitions
Corporate transactions, including mergers, acquisitions, divestitures, joint ventures, and other methods of organizational restructuring and transformations, are strategically important in enhancing competitiveness, economies of scale and growth of an organization. Nevertheless, the human resources or ‘people’ factor of an organization holds the key to success in all such corporate transactions. But, this factor is the […]
What is Debt Ceiling and How it Would Affect the World
A hot topic among investors, economists, and stock market experts these days is the looming fight over the debt ceiling in the United States. Many commentators have been discussing this incessantly pointing to the consequences for the world at large. Before launching into the specifics, it is worth discussing what debt ceiling means. Like a […]
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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