Guest post by Ken Latino.
Have you ever noticed how much emphasis is put on the maintenance budget in an industrial facility? While maintenance cost is usually just a fraction of what is spent on other costs like raw materials, energy costs and other input costs, it get 95% of the attention. This is because many think that every dollar spent on maintenance is a wasted dollar. With this attitude, it causes those at the plant level to make extremely difficult decisions of cost versus risk. The lower the budget, the more risk has to be taken.
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