MotorDoc Vlog 74 Physical Asset Management for the Executive Review

This source, a section of a book titled “Physical Asset Management for the Executive,” copyright 2007, by Dr. Penrose and Success by Design, explores the significance of effective reliability and maintenance (R&M) practices for businesses. The author highlights the considerable financial losses incurred due to poor asset management and the existing communication gap between maintenance professionals and management. It also examines the challenges posed by a changing workforce, specifically the aging baby-boomer generation and the reluctance of younger generations to enter skilled trades, and critiques how this impacts manufacturing and maintenance. The text provides an overview of strategies, including Computerized Maintenance Management Systems (CMMS) and Enterprise Asset Management (EAM), alongside various maintenance philosophies like Reliability-Centered Maintenance (RCM), offering practical steps and examples for improving planning and scheduling, understanding failure risks, and ultimately enhancing corporate productivity and profitability through strategic asset care. The book was a 2009 Axiom Business Book Award winner.