Industry News & Articles

Nexus Global Business Solutions, Inc. has gathered a collection of relevant articles to share with our clients across various industries. Stay informed on the latest industry news by browsing through the articles below, and be sure to check back soon for more updates:

Efficiency and Effectiveness: Know the Difference

By Andy Gager, June, 2018

Professional and personal tasks for managers often are similar. In both settings, managers organize, direct, coach, supervise, and at times, discipline. One of the other common tasks for managers is budgeting and metrics.

It is important that managers understand what to manage, why it’s important, and how to do it. This is where efficiency and effectiveness come in. By understanding the difference between these two concepts, managers... Read More

The Benefits of an Asset Management Program

By Andy Gager, March, 2018

How does this process benefit managers and their facilities? Let’s align the six areas to facility management functions.

First consider strategy and planning. An organization’s asset management activities should align to the overarching facility objectives, providing clarity to organizational asset management priorities and goals, as well as a much clearer direction on ways to achieve them. This process is critical to any organization... Read More

Implementing a Successful Asset Management Program

By Andy Gager, February, 2018

We constantly strive to find the silver bullet to make our lives and jobs better. We look for a road map that will guide us to where we need to be. Quality systems are prime examples of this phenomenon. Over the years, I have witnessed many different types, including quality circles, total quality management, total productive management, Lean, and Six Sigma. Now, relatively new guidance is available for maintenance and engineering managers —... Read More

Paying the Price for Deferred Maintenance

By Andy Gager, October, 2017

“Deferred maintenance is the practice of postponing maintenance activities, such as repairs on both real property — infrastructure — and personal property — equipment and systems — in order to save money, meet budget funding levels, or realign available budget funds. The failure to perform needed repairs could lead to asset deterioration and ultimately asset impairment. Generally, a policy of continued deferred maintenance results in higher... Read More

Maintenance, Measurement and Equipment Reliability

part 1 of  2

By Andy Gager, June, 2017

Is anyone else like me? There’s not a day that goes by that I don’t measure something. I’m a triathlete, so I measure an unusual amount of stuff. How many miles I run, bike or swim? I track my 401k, my gas mileage, and yes, even my budget.

The reason I do these things is that I want to improve in some way. I don’t think that we can ever escape measuring, tracking or following things. As goes our personal lives, so goes our work... Read More

Predicting Equipment Failures

part 2 of  2

By Andy Gager, June, 2017

Adding it up

What does all this math add up to? If managers do it properly, the calculations can determine when a piece of equipment might fail or the probability of when it will fail. With this information, managers can develop strategies that will manage risk, improve preventive maintenance processes, introduce predictive maintenance technologies and ultimately reduce costs.

Managers who opt not to measure... Read More

Who’s Your Data?

By Larry Olson, March, 2017

Asset taxonomy combined with nomenclature data (metadata) and performance data along with asset health information are some of the important inputs used in making decisions and setting priorities for asset management. Today this is the digital world of asset management. When information is accurate and relevant, better decisions are made. However, in such a competitive environment, poor data and data management systems limit the ability of... Read More

Managers Need To Learn Language of Finance

part 1 of  3

By Andrew Gager, February, 2017

Sometimes, we fool ourselves into thinking a bad deal is actually a bargain. My neighbors built their home in 2008 at the beginning of the housing crash. They chose to heat the home with propane. They have a 500-gallon tank and refill it an average of four to five times each year. Back in 2008, propane was selling at about $2.04 per gallon, so their average bill for the year was $4,080-5,100.

The average price for propane in 2014 was... Read More

Understanding Key Financial Management Terms

part 2 of  3

By Andrew Gager, February, 2017

Many happy returns

Two key concepts are crucial to understand for managers starting the process of making a financial case for a project or purchase.

ROI is a financial calculation that evaluates the consequences of a project in terms of the magnitude of the cash outflow versus the time it takes to break even or achieve the expected returns. The calculation is simply the initial investment divided by the initial investment... Read More

Making the Financial Case for Projects

part 3 of  3

By Andrew Gager, February, 2017

Making the case

When formally and professionally presenting the proposal, managers need to include an executive summary of the overall spending, adding details, time frames, and milestones when possible. They also should include the financial spending report with solid, quantifiable analysis. It is important to always get confirmation of the numbers from an independent internal or external financial analyst.

Whenever someone... Read More

Reliability - What Fails and What Do We Do About It?

By Nexus Global, October, 2016

Companies in the Oil & Gas industry have been attempting to improve the manufacturing reliability of their operations to improve financial performance by setting up effective Asset Performance Management (APM) strategies. The driver of this has been the potential to realize a 20-25 percent reduction in conversion costs, accompanied by a 15-25 percent increase, in real production capacity, without additional capital investment. ... Read More

REMOVING BAD HABITS

By Nexus Global, May, 2016

IS THE SECRET SAUCE TO TRANSITION YOUR ORGANIZATION FROM REACTIVE MAINTENANCE TO PROACTIVE MAINTENANCE


Most professionals have the good fortune of working for really fantastic leaders, but also the misfortune of working with a few ineffective leaders. Truly inspiring leaders lead by example, possess a great deal of empathy for others, never get overly excited and understand the complexities of developing  a... Read More

The Impossible Is Possible: 30,000 Assets in 90 Days A PMO Success Story

By Nexus Global, April, 2016

In the 21st century, companies that focus on just design and operations will be left behind. Intelligent, efficient and optimized systems must keep evolving and need to be integrated into the ethos of how people work and think. This same thinking must be supported by management and designed to evolve based on proven intelligence, changing market demands and with the adoption of new equipment and technology. To achieve this, companies must... Read More

Maximizing Maintenance: Assessing Non-Value Added Activities

part 1 of  2

By Andrew Gager, February, 2016

Have you ever had a discussion with your significant other about non-value-added activities? For instance, why rake leaves when the wind eventually will blow them into the neighbor’s yard? Why make the bed if you’re just going to sleep in it again tonight?

Non-value-added activities can be a problem for maintenance and engineering departments, and managers would be wise to take a closer look at technicians’ priorities and activities.... Read More

Reassessing of Preventive Maintenance Responsibilities Produces Huge Savings

part 2 of  2

By Andrew Gager, February, 2016

The reallocation of responsibilities, the deletion of non-value-added PMs, the extended PM intervals, the deletion of duplicate PMs, and the implementation of specific value-added PMs were substantial changes. The results of the process were staggering. Among the more interesting results:

  • Eighteen percent of the total PMs for the rotary air compressor were duplicates
  • Nine percent of all PMs were deleted
  • Only... Read More

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