Spend Analysis and Specification Development Using Failure Interpretation

Considering that the biggest machines that do the most work are made up of smaller machines and components, it becomes obvious that when a large machine breaks, it is normally due to small components acting antagonistically. Detailing a time-tested method for increasing productivity and lowering operational costs, Spend Analysis and Specification Development Using Failure Interpretation explains how to establish performance-based procurement specifications for the components, devices, and items that contribute the most to operational downtime and repair/replacement costs.

The book emphasizes the critical need to perform both spend and failure analysis in order to develop a procurement document, which will ultimately reduce overall costs. Accompanied by downloadable resources with helpful material such as, specification checklists, case study worksheets, form letters, and return on investment (ROI) worksheets that you can customize to your needs, the text discusses how to:

• Identify the products that will cost the most if they fail
• Develop performance-based procurement specifications to reduce direct and indirect costs
• Examine cost analysis as it relates to operations, maintenance, and production
• Determine effective criteria based on properties, test results, and standards for each operation

Written by an industry expert with decades of experience giving seminars, training customers and associates, and authoring numerous papers and articles, the text provides the real-world understanding of the influential components and materials’ physical properties needed to engage in effective failure and spend analysis. It addresses product submission and monitoring and includes helpful tools so you can immediately get started on conducting your own cost-saving analysis.

Michael Holloway has 25 years of industrial experience. His background includes organic and polymer synthesis as well as laboratory- to pilot-scale material manufacturing for Olin Chemical (Wilmington, Massachusetts), military and aerospace product development of sealants and coatings for Parker-Hannifin (Cleveland, Ohio), product engineering microelectronic photoresists for Rohm & Haas Electronic Chemicals (Midland, Michigan), technical marketing and application engineering for General Electric Plastics (Fairfield, Connecticut), sales and marketing management of automated dispensing systems for Graco (Minneapolis, Minnesota), and most currently as director of reliability and technical development of industrial and heavy equipment lubrication for NCH Corporation (Irving, Texas). Through the course of his career, Holloway has been involved in training customers and associates, giving seminars, as well as authoring numerous papers and articles as well as presenting novel concepts and case studies at national conferences. He has served as a contributing writer for Manufacturing.net, ASSEMBLY magazine, PlantServices magazine, Render magazine, and Lubrication and Fluid Power magazine.

Holloway has been master black belt trained in Six Sigma, served as an adjunct professor at the University of North Texas, and was managing editor for Porsche Club of America’s Slipstream. He holds a BA in philosophy and a BS in chemistry from Salve Regina University, Newport, Rhode Island, and an MS in polymer engineering from the University of Massachusetts.