- Industrial Engineering Training
- Fleet Maintenance and Replacement: Optimizing Life-Cycle Decisions
Our objective is ensure that you leave, after two days, with an awareness of the full range of money-saving decision-making techniques related to professional fleet management.
- Course Outline
After participating in this course, you will be able to:
- Determine the economic life of an asset when its utilization is fairly constant year to year
- Arrive at the economic life of an asset where its utilization declines as it ages
- Select which approaches to use for monitoring the performance of an individual asset
- Employ a sure-fire way to calculate your spare parts requirements
- Deal with the problem of inadequate data
- Establish the optimal inspection frequencies for your equipment
- Know when to buy a new asset and how to identify the best buy
- Make optimal repair-or-replace decisions
- Evaluate whether or not to take advantage of a technologically improved asset
This course is about making money-saving decisions. What's the best time to replace a vehicle? Is it more economical to buy a new unit than to repair the one you have? Is the size of our fleet too small, or too large, given the work it's required to do. Are we replacing component parts too often and throwing good running-time away - or too seldom, and running into costly emergency repairs. How can we stock the exactly-right number of spare parts so we have them when required but still not overstock them?
It's possible to answer every one of those questions, and many more like them. By using proven, time-honoured analytical tools fleet managers and engineers can make significantly better decisions and save considerable amounts of money. Invest in this two-day course for long-lasting returns.
Our objective is ensure that you leave, after two days, with an awareness of the full range of money-saving decision-making techniques related to professional fleet management. Techniques that can save "big bucks" and at the same time bring a new level of predictability to your operation. Whether you need to replace component-parts or entire equipment units, monitor performance or consider safety, this course will equip you with the know-how to select and use the most appropriate analytical tools for decision-making
Who Should Attend
This two-day course is for anyone whose job relates to the maintenance and replacement of moveable capital assets. Managers and engineers responsible for fleets of trucks, buses, automobiles, or heavy equipment will benefit. This includes executive-level managers and financial professionals as well as hands-on career fleet directors and their subordinates. Almost any fleet operation will profit from this program, including those from governments, the military, mining, and cartage, delivery, transportation and hauling operations.
Welcome, Introduction, Workshop Preview, Learning Outcomes and the Assessment Method
- Setting your objectives
- The "scientific" approach versus "intuition"
- Problem areas - purchasing, maintaining and replacing vehicles
- Applying discounted cash flow in capital equipment replacement analysis: estimating the interest rate appropriate for discounting, present-value calculations, the effects of inflation in the analysis, calculating the Equivalent Annual Cost (EAC), Vehicle Replacement Decisions
- The "classic" Economic Life Model
- The effect of before - and after - tax calculations
- Tracking the economic life of a particular vehicle, or a "class" of vehicles
- Determining your optimal trade-in time
- Calculating the costs of trading in a the "wrong" time
- The Repair vs. Replace decision
- Life-Cycle costing - the crux of replacement decisions
- Factoring in technological improvement
- Determining your best fleet size
- Case studies, examples from trucking, transit, motor coach, materials handling (FLT), mobile mining equipment, baggage handling using AGE/CON software for establishing the economic life of fleets
- Analyzing vehicle component failures
- Using the right equations - Weibull Analysis
- The hazard function and the composite "bathtub curve"
- "Infant mortality" of components - what it means
- Using median ranks to estimate the risk of a component failure
- Testing the Goodness-of-Fit of your curves
- Reducing the number of on-the-road failures
Component Preventive Replacement
- Alternative policies explained - age versus block replacement
- Use of OREST software for preventive replacement strategies
- Case studies, including transmissions, fuel pumps, water pumps, bearings, inspection procedures
- Maximizing fleet availability - keeping vehicles on the road
- Engine oil analysis - the use of Proportional Hazards Modeling (PHM)
- Case studies - Vehicle availability maximization (subject to ABC&D inspection schedules), Interpreting information from a Spectroscopic Oil Analysis Program (SOAP)
- Optimization of condition-based maintenance procedures: the role of EXAKT
- Exercises in component and capital equipment replacement analysis using OREST and AGE/CON software
These include fast - moving spare parts such as bearings, pumps, filters, etc. Issues of economic ordering quantity and quantity discounts will also be discussed.
Examples include power train components along with insurance (emergency) spares that can be brought into service if a current long-life and highly reliable part fails. Criteria such as fleet availability will be used to identify optimal stocking policies.
- Using OREST software to forecast the annual demand for fast moving spares (consumables) used as part of a preventive replacement program.
- Using SMS software to establish appropriate stocking policies for slow-moving spares such as capital/emergency spares.
8:00 Registration and Coffee (1st Day only)
8:30 Session begins
There will be a one-hour lunch break each day in addition to a refreshment and networking break during each morning and afternoon session.
Andrew K.S. Jardine is Director of the Centre for Maintenance Optimization and Reliability Engineering (C-MORE) at the University of Toronto. He is also Professor Emeritus in the Department of Mechanical and Industrial Engineering at U of T. Professor Jardine is the author of "Maintenance, Replacement and Reliability", first published in 1973 and now in its 6th printing. He is the co-editor with J.D. Campbell of "Maintenance Excellence: Optimizing Equipment Life Cycle Decisions". His newest book "Maintenance, Replacement & Reliability: Theory and Applications", was coauthored with Dr. A.H.C. Tsang. Professor Jardine has garnered an impressive array of awards, honours and tributes, including having been the Eminent Speaker to the Maintenance Engineering Society of Australia, as well as the first recipient of the Sergio Guy Memorial Award from the Plant Engineering and Maintenance Association of Canada in recognition of his outstanding contribution to the Maintenance profession. Besides writing, researching and teaching, Dr. Jardine has carried out innumerable consulting assignments with organizations the world over, including Extrata Nickel, Government of Canada, Tate & Lyle, Electricity Trust of South Australia, Hong Kong Mass Transit and scores of others.
- Prerequisites & Certificates
1.2 CEU / 12 PDH
- Cancellation Policy
To withdraw from a course, you must send a request, in writing, with the official receipt to our office. Fifteen or more business days in advance: full refund less $50.00 administration charge. Five to fifteen business days in advance: non-refundable credit of equal value for any future EPIC seminar within one year. Credits are transferable within your organization. In case of an unexpected event occurring after this time, you may send someone else to take your place without any additional cost.
- Map & Reviews
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