Spend Analysis and Specification Development Using Failure Interpretation

Written as a guide to reduce operating costs, this book presents a method for lowering operational costs and increasing productivity by establishing a performance based procurement specification on the components, devices, and items that contribute most to operational, downtime, and labor repair/replacement costs. The author discusses how to use product knowledge to develop a performance-based procurement specification based on reducing direct and indirect costs and explains how to review product submissions, select the product, and monitor the results. He covers the importance of performing a spend analysis, failure analysis, and understanding the equipment.