SafetyChain Blog

“An ounce of prevention is worth a pound of cure.” —Benjamin Franklin.

What Is Preventive Maintenance? 

Even the best-built equipment will break down over time and need maintenance. Much like taking a car in for regularly scheduled oil changes, preventive maintenance is planned maintenance that a facility performs on its equipment to reduce the risk of failure. Also sometimes referred to as preventative maintenance, the goal is always to incur a lower cost in the present to prevent a higher cost from equipment breakdown in the future.

Manufacturers are seeking ways to remain competitive in challenging markets, and many are exploring how Lean manufacturing and continuous improvement can expand opportunities. There are a number of misconceptions regarding the relationship between the terms Lean manufacturing and continuous improvement. While conflating terms in business and manufacturing is nothing new, it’s crucial to start with some clear explanations of some key general terms to understand better. Manufacturers interested in implementing or expanding Lean tactics can benefit from taking a closer look at these concepts to determine what processes already align with Lean manufacturing and continuous improvement and which do not. For anyone unsure whether Lean manufacturing and continuous improvement are the same thing, keep reading. Let’s start with getting a better handle on what Lean manufacturing is—and what it is not.

As more companies search for ways to stay viable in a lightning-fast, global economy, lean thinking has become an increasingly successful way for companies to adapt more quickly and remain competitive. However, many organizations have attempted to implement lean thinking without moving to a lean accounting model. Accounting departments are trying to reconcile a lean organization with standard costing and running into significant difficulties. Lean accounting represents a shift in how companies use collected data to make essential decisions around quality, production, and more. We'll start with the basics to understand why and how lean must translate to accounting.