The amortized cost of your assets compared to their utilization can help you identify waste and rectify overspending. In this video, learn how to identify underused assets in your organization.
- Another area of wasted cost … is poor utilization of assets. … Now, we talked about utilization of people earlier on, … and this is really the same, but it's equipment. … So, something like operating theaters. … If you're only using them half the time, … that means you could have half the number … of operating theaters and still be fine. … So you're wasting all of that cost. … It could be laboratories. … You know, what is the utilization of your laboratories? … Have you ever measured how much time … they're actually being used? … It might be forklift trucks. … How much time are those forklift trucks … actually driving around? … Do you need to hire quite so many? … Could you cut the cost on the forklifts? … So, you could just measure the utilization of those. … And certainly, don't buy another one … if your forklifts are only 50% utilized. … Even training courses. … And quite often, I do a training course … and you know, I could do up to 20 people … and I get there and there's six. …
- Different cost areas affecting your business
- Comparing cost vs. income
- Enhancing your work environment
- Focusing on the most important management tasks
- Getting better deals on raw materials and labor
- Recognizing your optimum quality level
- The hidden costs of subcontracting
- Where to avoid cutting costs
- Top ten cost-cutting actions to take
Skill Level Beginner
What to expect1m 3s
1. What to Reduce
2. Reducing Labor Costs
3. Costs Other Than People
4. Top 10 Tips
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