Industry News & Articles

Nexus Global Business Solutions, Inc. has gathered a collection of relevant articles to share with our clients across various industries. Stay informed on the latest industry news by browsing through the articles below, and be sure to check back soon for more updates:

Who’s Your Data?

By Larry Olson, March, 2017

Asset taxonomy combined with nomenclature data (metadata) and performance data along with asset health information are some of the important inputs used in making decisions and setting priorities for asset management. Today this is the digital world of asset management. When information is accurate and relevant, better decisions are made. However, in such a competitive environment, poor data and data management systems limit the ability of... Read More

Managers Need To Learn Language of Finance

part 1 of  3

By Andrew Gager, February, 2017

Sometimes, we fool ourselves into thinking a bad deal is actually a bargain. My neighbors built their home in 2008 at the beginning of the housing crash. They chose to heat the home with propane. They have a 500-gallon tank and refill it an average of four to five times each year. Back in 2008, propane was selling at about $2.04 per gallon, so their average bill for the year was $4,080-5,100.

The average price for propane in 2014 was... Read More

Understanding Key Financial Management Terms

part 2 of  3

By Andrew Gager, February, 2017

Many happy returns

Two key concepts are crucial to understand for managers starting the process of making a financial case for a project or purchase.

ROI is a financial calculation that evaluates the consequences of a project in terms of the magnitude of the cash outflow versus the time it takes to break even or achieve the expected returns. The calculation is simply the initial investment divided by the initial investment... Read More

Making the Financial Case for Projects

part 3 of  3

By Andrew Gager, February, 2017

Making the case

When formally and professionally presenting the proposal, managers need to include an executive summary of the overall spending, adding details, time frames, and milestones when possible. They also should include the financial spending report with solid, quantifiable analysis. It is important to always get confirmation of the numbers from an independent internal or external financial analyst.

Whenever someone... Read More

Reliability - What Fails and What Do We Do About It?

By Peter Broosus, October, 2016

Companies in the Oil & Gas industry have been attempting to improve the manufacturing reliability of their operations to improve financial performance by setting up effective Asset Performance Management (APM) strategies. The driver of this has been the potential to realize a 20-25 percent reduction in conversion costs, accompanied by a 15-25 percent increase, in real production capacity, without additional capital investment. ... Read More

REMOVING BAD HABITS

By Nexus Global, May, 2016

IS THE SECRET SAUCE TO TRANSITION YOUR ORGANIZATION FROM REACTIVE MAINTENANCE TO PROACTIVE MAINTENANCE


Most professionals have the good fortune of working for really fantastic leaders, but also the misfortune of working with a few ineffective leaders. Truly inspiring leaders lead by example, possess a great deal of empathy for others, never get overly excited and understand the complexities of developing  a... Read More

The Impossible Is Possible: 30,000 Assets in 90 Days A PMO Success Story

By Peter Schurmann, April, 2016

In the 21st century, companies that focus on just design and operations will be left behind. Intelligent, efficient and optimized systems must keep evolving and need to be integrated into the ethos of how people work and think. This same thinking must be supported by management and designed to evolve based on proven intelligence, changing market demands and with the adoption of new equipment and technology. To achieve this, companies must... Read More

Maximizing Maintenance: Assessing Non-Value Added Activities

part 1 of  2

By Andrew Gager, February, 2016

Have you ever had a discussion with your significant other about non-value-added activities? For instance, why rake leaves when the wind eventually will blow them into the neighbor’s yard? Why make the bed if you’re just going to sleep in it again tonight?

Non-value-added activities can be a problem for maintenance and engineering departments, and managers would be wise to take a closer look at technicians’ priorities and activities.... Read More

Reassessing of Preventive Maintenance Responsibilities Produces Huge Savings

part 2 of  2

By Andrew Gager, February, 2016

The reallocation of responsibilities, the deletion of non-value-added PMs, the extended PM intervals, the deletion of duplicate PMs, and the implementation of specific value-added PMs were substantial changes. The results of the process were staggering. Among the more interesting results:

  • Eighteen percent of the total PMs for the rotary air compressor were duplicates
  • Nine percent of all PMs were deleted
  • Only... Read More

Costs, Benefits and Projecting Project Payback

By Andrew Gager, June, 2015

I renewed my subscription to Consumer Reports last month. I don’t buy anything of value without referencing Consumer Reports and two or three other review sources. For instance, I just bought a new lawn tractor. I researched the options for weeks before finally purchasing one. It takes about 1½ hours to cut my lawn with a traditional push mower. I figured a riding mower would cut my mowing time significantly. So my cost-to-benefit ratio was... Read More

Leadership learned the hard way

By Nexus Global, March, 2015

This article first appeared in the March 2015 issue of BIC.

I have learned a few lessons about leadership over my 30-plus years, starting at the early age of 19. I put on my first tool belt as an electrician’s helper in my dad’s company at the ripe old age of 12 where I worked weekends and summers to make spending money. By the time I was 16, I was excited to be able to drive myself to my own jobs. I... Read More

A Global Problem – The Skilled Labor Deficit

By Nexus Global, November, 2014

As I travel in the Middle East, I am becoming more acutely aware of a common problem we all share: the lack of skilled labor throughout our respective industries. I had the pleasure and honor of chairing the 4th Annual Plant Shutdown & Turnaround Conference in Doha this past week. In addition to chairing, I was asked to provide a keynote and master class workshop. I presented “Turnaround Optimization” and was greatly surprised when, after... Read More

Lessons in Leadership: Putting People First

By Andrew Gager, October, 2014

Over the years, I've written numerous columns addressing the major day-to-day challenges facing maintenance and engineering managers, but I've never directly addressed the more personal side of a manager's job — the people.

Many companies say their employees are their most important assets, and a few have been recognized for outstanding employee engagement. I want to share with you a few things I've seen in my career that the best-... Read More