When the government gets involved, a surefire formula for achieving success is set in motion.
I believe that industries will evolve and adapt to changing circumstances. Societies have a proven track record of successfully adapting to challenges that come their way. This adaptation could involve the integration of new technologies, such as self-diagnosing machinery. It may also entail industries shifting towards a more globally trained workforce, taking advantage of the thirst for technical knowledge in third world countries. Additionally, a growing number of young people are pursuing higher education at colleges and universities. This shift is driven by parents who aspire for their children to attain advanced degrees.
As society continues to progress, we cannot prevent the natural development and evolution of our culture. It is important to recognize the value of technical trades as a form of higher education. However, the younger generation, often associated with traits such as a focus on instant gratification and consumerism, may have different priorities. The world is constantly changing, so it is interesting to speculate where we will be in the next 20 years. Just my two cents on the matter. - Mike.
Dear colleagues, I would like to contribute my perspective to this crucial discussion. It is common for individuals to struggle with admitting that they may not have the best knowledge about a certain topic. In professional settings, there is often reluctance to approach lower-ranking employees for advice due to concerns about maintaining status and reputation. As a result, online forums offer a valuable opportunity for people to seek the information they require without risking their prestige.
- 06-09-2024
- Quentin Foster
Mike, have you noticed if the current shortage of skilled workers is leading individuals to seek advice from online forums or other reliable resources? This shift raises questions about the impact on traditional on-site wisdom that may have retired or been phased out. The diminishing skill pool is a valid concern, likely due to the decline in apprenticeship and craft training programs over the past few decades. This trend reflects short-term cost-cutting measures in the industry. Online forums like this one play a crucial role in filling the gap, although the lack of moderation can result in misinformation. Despite this drawback, it's a reality we must accept and adapt to.
Greetings everyone! I wholeheartedly agree with Vee's sentiments and would like to expand on this topic. Engaging in venues where we can explore and absorb the ideas and practices of professionals from various industries worldwide is undeniably beneficial. While online forums should not be the sole source of education, they do provide a valuable opportunity to gain knowledge and insights from a diverse range of perspectives. Many companies tend to limit their employees to a specific way of operating, stifling creativity and innovation. By incorporating ideas gleaned from forums, technical conferences, and other sources, individuals can introduce fresh perspectives into their organization. The convenience of being able to quickly search for relevant topics or start discussions related to one's own work is a significant advantage offered by these forums. Personally, I have found this accessibility to be a valuable resource that was previously unavailable. - Shelley
At my company, we offer Condition Based Asset Management services tailored to asset-intensive industries, particularly mining companies with extensive fleets of mobile equipment. The common narrative among our customers typically involves several key challenges: 1. The aging workforce is leading to a loss of vital technical knowledge essential for success. 2. There is a scarcity of individuals possessing the required skills and expertise. 3. Difficulty arises in finding individuals not just capable of operating equipment, but also proficient in implementing PM and PdM practices. 4. Retaining skilled personnel is challenging due to intense competitive pressures. 5. Discrepancies exist between the demand for adequately trained individuals, the current available workforce, and the number of individuals undergoing training. While the issue is widely recognized, solutions remain elusive. When faced with the need for an Electrical Engineer, the common immediate response is to allocate additional funds. However, a sustainable solution requires a long-term strategy. Successful companies addressing this dilemma typically focus on four key strategies: 1. Creating an appealing work environment: They prioritize making their company an attractive place for employees, surpassing competitors in providing a desirable workplace. 2. Emphasizing attitude in hiring: They seek individuals with positive attitudes and then invest in developing their technical skills. Attitude is considered invaluable as skills can be taught. 3. Investing in employee development without hesitation: These companies are willing to invest time and resources in nurturing talent, without the fear of losing them to competitors. By fostering a positive work environment, they cultivate a team of like-minded individuals with strong attitudes. 4. Seeking external assistance for technical expertise on demand: They opt to pay for expertise when needed, such as utilizing services like our company's technical expertise spread among multiple clients. This approach allows for implementing CBAM programs without expanding the workforce and transferring knowledge to existing staff post-project completion, leading to cost savings. Our clients have experienced an average ROI of $4.50 for every $1.00 invested. If you require assistance bridging the technical expertise gap, feel free to reach out to me at bsolem@dingo.com.
Thank you, Bsolem, for providing a return of $4.50 for every $1.00 invested by your customers - it seems like a lucrative proposition. Any savvy business leader would surely want to multiply their investment by 4.5 times. We would appreciate it if you could share some concrete financial case studies to back up these impressive numbers. Our members value real financial examples to make informed decisions. Thank you, Terry O.
Hello Terry, I am excited to share real-world examples showcasing the effectiveness of Dingo's CBAM ROI. Our success stories are based on data from our satisfied CBAM customers, not marketing hype. I am currently away from the office but will have a detailed case study ready for you by Tuesday. Please provide your email address so I can send you more in-depth information on our strategies and the impressive ROI results we have achieved. Thank you, Brian.
By closely monitoring maintenance and costs, it has been shown that investing $50,000 in Predictive Maintenance (PdM) can result in a return of $175,000 to $800,000, depending on the level of involvement and the industry type. This return is achieved when PdM is expanded to include Root Cause Analysis (RCA) and hands-on training for maintenance technicians. These figures are not hypothetical, but based on accurate tracking and accounting by the client. It is important to note that PdM alone may not generate these savings, but when combined with RCA to address major issues and proactively address machine failures, significant cost savings can be achieved.
Bsolem & Sam: Are the majority of your clients within the manufacturing or production industry? Do you serve any clients in government, academic, or research settings? It can be challenging to measure the savings from Product Data Management (PDM) when the impact on production, yield, or sales is not as easily quantifiable. The cost savings from maintenance and asset replacement may not be as significant as increasing uptime on a fully operational production line. Can you provide any examples of Return on Investment (ROI) that are not tied to production outcomes? Thank you, Shelley.
I operate water treatment plants that are almost government-level, and I also collaborate with colleges on certain projects. The cost-saving benefits of regular maintenance alone should ensure profits or prompt a reassessment of your operations. Preventing catastrophic failures is crucial. I also have experience working as a troubleshooting consultant for Georgia Tech's aerospace department, with approval from the Army to conduct research in a wind tunnel. My goal was to ensure smooth operations at a specific setting to produce valid data that could be applied to improve efficiency.
At Dingo Maintenance Systems, we cater mostly to large mining companies. Various industries with high-value assets stand to gain from implementing Condition Based Asset Management (CBAM). We are currently exploring opportunities in the shipping and railroad sectors. Our clients typically see an average ROI of $4.50, determined through a predefined formula based on historical data. This formula calculates a percentage of the component cost over the average lifespan. While the calculation does not account for avoided production loss or potential secondary damage, we acknowledge the significant impact of avoiding production downtime. However, quantifying this value is subjective and not included in our ROI calculations to ensure accuracy. We believe that maintaining the integrity of our ROI figure of $4.50 is crucial. We inform potential clients about the concept of avoided lost production and encourage them to assess its value on their own terms. Many clients already factor in the cost of lost production in their internal calculations. For more information, please contact Brian Solem at bsolem@dingo.com.
Dear Brian and others, I would like to present a different viewpoint. Tools and processes serve as facilitators for enhancing performance. When utilized effectively, they have the potential to generate significant savings or profits. However, it is crucial to remember that they are merely facilitators, despite their importance. In my opinion, tools like CMMS and processes such as RCM or PdM empower us to make improvements, but only when implemented correctly. It is the actual implementation of the analysis findings that leads to savings/profits. Therefore, the business process that ensures work is carried out as planned is what ultimately drives results. Machines like lathes or milling machines do not produce results on their own; it is the combination of skilled labor, proper materials, supervision, and the use of the machine that delivers results. Simply using a CMMS as a digital notepad will not yield significant results, but utilizing it to transform work practices can lead to substantial outcomes. I am not devaluing the importance of PdM or any other techniques, processes, or tools. Rather, I am emphasizing the significance of the entire process, in which these tools play a crucial enabling role.
Skilled labor is essential for the success of any project. It is crucial to make corrections promptly to ensure maximum equipment lifespan, and to ensure proper installation through adequate training. By collaborating and providing support to staff, combining preventive maintenance (PM) and predictive maintenance (PdM) into a unified planning process, you can maximize cost savings and operational efficiency.
Engaging in meaningful discussions, it is evident that companies are increasingly seeking expertise outside of their own organization. The rise in demand for contract maintenance expertise is expected to benefit these companies greatly, possibly leading to significant growth and success. Some foresee the rise of superconsultancies or large maintenance contract companies driven by demand and a shortage of skilled labor. The future remains uncertain, especially in the first world where a declining population may affect the demand for skilled workers. Conversely, the third world is projected to experience a surge in population and demand for skilled labor.
Recently, a local radio station discussed the preference between University degrees and trade qualifications. Many callers emphasized the advantages of trades, citing future demand and potential prosperity due to a shortage of skilled workers. In New Zealand, it is common for young graduates to seek opportunities overseas for better financial prospects and to avoid repaying government student grants. This highlights the changing dynamics in the job market and the importance of acquiring in-demand skills.
- 06-09-2024
- Jessica Freeman
Mike pointed out that there is no decrease in population, with numbers actually increasing in both first and third world countries. Some organizations tried to claim a decreasing population based on a United Nations study, using worst-case scenarios involving fatal diseases or world wars. However, the median expectation showed continued growth. Countries with a baby-boom generation are now seeing a larger echo generation entering the workforce, particularly starting in 2016.
Mega-consulting and service companies are facing a challenge in finding skilled workers, with shortages prevalent in both first and third world countries. Companies in the USA, Canada, Australia, and elsewhere are struggling to recruit qualified personnel for skilled trades roles. Additionally, some larger companies are buying out and laying off workers, leading to a shortage of skilled labor without a transition plan.
One notable example is a joint UAW and management team trying to improve worker effectiveness in maintenance practices due to a lack of personnel. The education system in New Zealand is starting to promote skilled trades, while Canada is also recognizing the value. However, the US is still heavily focused on business degrees, despite the oversaturation of business and MBA graduates.
It is concerning that some schools are offering faster MBA degrees with less comprehensive coverage, neglecting important subjects like asset maintenance and reliability. Overall, the skilled trades shortage is a pressing issue that needs to be addressed in order to sustain workforce effectiveness.
Dear colleagues, the perceived skills shortage may be exaggerated, based on my conversations with individuals from various countries. For instance, the UAE, with a population of around 200,000 citizens, generates a GDP comparable to Australia, and not solely reliant on oil revenues. Similarly, Kuwait achieves economic success despite its small population, mainly due to oil resources. There are numerous other examples highlighting the resourcefulness of nations. A recent article in ASSETS magazine by the Institute of Asset Management questions the existence of a resource crisis. It challenges us to shift our perspective from the past or present to the future trajectory of the global landscape. Share your thoughts on this paradigm shift.
One major advantage of skilled trades is that hands-on work must be done on-site, providing job security and employability. In contrast, knowledge work can be completed remotely, offering flexibility and accessibility. This aspect adds a unique dynamic to the field of skilled trades, emphasizing the importance of local presence and physical labor in today's workforce.
Hi Ron, the work mentioned in the previous post needs to be completed on-site, but it does not necessarily require local resources.
- 06-09-2024
- Yvonne Mitchell
In my time in the Middle East, I've observed a high reliance on foreign labor, particularly from the UK and Ireland. In Saudi Arabia, it was easy to identify which nationality was working in each job, from material handlers to laborers. The presence of British, Irish, and Scottish workers is prominent in various skilled disciplines in the region.
- 06-09-2024
- Frances Fisher
Take a look at why some believe certain issues are exaggerated and more pertinent to consultants rather than the companies involved. Through the practice of benchmarking, there is a trust in the market economy to ultimately provide a solution, even if it may not be the desired outcome. Actor John Ratzenberger, known for his roles in "Cheers" and numerous Pixar films, is dedicated to inspiring youth to engage in tinkering through his foundation, Nuts, Bolts, and Thingamajigs. It is essential for Americans to have faith in the altruistic nature of society, as demonstrated by initiatives like this. Learn more about this topic in a radio interview on the America's Business show with Mike Hambrick at http://www.fma-foundation.org/index.cfm.
Dear Mike and team, I wanted to address a crucial issue that many industries overlook - the importance of having a comprehensive training program in place. One of the main purposes of such a program is to identify and plan for gaps that may arise when a seasoned employee leaves. Unfortunately, in many industries, including those I have encountered in my country, the training department is often targeted for cost-cutting measures. For more information, please refer to my open letter to industries on http://www.rsareliability.com/services.htm. Thank you for your attention. Best regards,
- 06-09-2024
- Wesley Jenkins