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Advantages of Hiring
Support and Advice
Affordable/Spread Cost
Try Before You Buy
Service/Maintenance Covered
Disadvantages of Hiring
Costly over long period of time
You do not own your project
Advantages of Buying
Can save money in the long run
You own your own product
Flexibility
Disadvantages of Buying
Expensive outright cost
Service, maintenance, and insurance cost
Refers to the ability to achieve the desired results or outcomes within an acceptable time frame and a reasonable effort
Effi
Importance of Training
Helps to improve the level of productivity
Develops better quality of work
Helps in cost reduction
Reduce cost of supervision
Reduces frequency of accidents
Develops high moral among the employees
Provides personnel growth of employee
Will record all details of the asset, including the consumables with a description and part number if applicable
Business Register
Items or materials that the tool consumes during its normal operation
Maintenance
The process of preparing a tool for operation and ensuring that it is in a suitable operation condition
In-House Maintenance
Requires technicians
In-House Maintenance
Returns a faulty tool into an operational condition
Repairs
When something is broken or damaged in a tool, the repair process makes it functional again
Repairs
Are not predictable and cannot be planned
Repairs
Who does the repairs?
Obtaining a copy of the maintenance schedule recommended by the manufacturer
Ensuring that maintenance is performed as required
Ensuring that the person(s) performing the maintenance are competent (licensed mechanic or technician)
Specifying who is responsible for overseeing equipment maintenance and where the records are kept
Imply some immediacy where action needs to be taken promptly to ensure the tool is
May not be immediate and the tools are still serviceable, although not as efficient before the damage
Maintenance
Details of Fault Reporting
Person’s Name
Email Address
Asset Name
Finance Officer
Service Contract Number
Urgency of the Problem
Contact Details
Sequence of Events
Model
Problem Description
Serial Number of Machine
Access Hours
Items or resources that are consumed in the normal usage of the tool
Consumables
Will these items be ordered through the same process as is used for all other items or on a needs basis?
This is a management decision that determines the process
Where is tool specific documentation stored?
These may be stored in different locations or they may be electronic so the business can make copies and keep a full set in both locations
What are the contact details in external support?
Telephone Numbers
Machine Details
Account Numbers