Craft a winning strategy and build expertise in equipment costs and lifestyle management with The Fundamentals of Equipment Economics, Caterpillar's new eight-part online video course.
Led by Mike Vorster, author of "Construction Equipment Economics" and president of C.E.M.P. Central Inc., this course teaches vital information that will help equipment managers and those involved in overseeing the equipment at their company accelerate their careers and drive increased value to their business. The course covers a diverse range of topics that will help individuals better approach business decisions.
This course consists of eight main parts, each broken down into multiple sessions. There are 25 video sessions in total, each no longer than 20 minutes. Registrants will have the ability to complete the curriculum package at their leisure, within expected completion within 1 year of course enrollment.
Prerequisite Qualifications
This course is a good fit for aspiring professionals who meet the following criteria:
- Experience in an industry that relies on heavy equipment to drive revenue
- Has some level of influence in your company's decision to repair, rebuild or replace a machine
- Has a solid understanding and/or curiosity about the following topics: operating costs and owning costs; managing equipment lifecycle cycle and optimum fleet age; and when to repair/rebuild/replace a machine
- Is looking to expand your knowledge of equipment management topics to drive increased value to your company's business
- Is part of a company that is open to adopting new practices to better manage major equipment decisions
The curriculum includes:
- Management topics such as critical success factors and equipment management functions, organizational structure, the complex flow of funds and more.
- An in-depth overview of owning and operating costs including definitions and characteristics of owning and operating costs, repair parts and labor curve based on personal company data, how to estimate operating costs from first principles, depreciation, interest costs and more.
- How to understand rate and cost management, economic life and minimum cost.
- A break-down of reliability that covers the impact of inspection and prevention, the role they play in machine reliability, how to measure and understand reliability and the relationship between machine age, cost and reliability.
- Understanding stakeholder needs and the quantitative tools they use to perform better.
- How to find and attack the causes of cost in order to reduce them.
To register for the class, visit www.caterpillaruniversity.com.
