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Axiom Business Book Bronze Award Winner!
Based upon the US Census Bureau statistics and a 1979 maintenance study performed by MIT, it was projected that the size of the reliability and maintenance industry in the USA was $1.2 Trillion of which $750 Billion is the direct cost of poor physical asset maintenance and management. Of the $12.5 Trillion GDP for the USA, an additional 20% is lost due to poor or improper physical asset maintenance investment while over 60% of businesses rely upon maintaining equipment reactively. In effect, up to $0.75 Trillion direct costs and $2.5 Trillion potential is lost annually. Dr. Penrose discusses the strategies that can be applied to your business to take advantage of this last frontier in business, with one question: The next time you get on that elevator or get on that airplane, what if they are maintaining it the same way you maintain your facilities and production equipment; would you want to ride?
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