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Today, manufacturers work constantly to increase asset utilization and reduce loss in the ongoing effort to achieve high performance. Pressure from shareholders is greater than ever and the funds available to invest in improvements are limited. To remain competitive, companies must get more from their assets while keeping costs down. On the journey to high performance, manufacturers are pursuing a variety of new approaches-from Lean manufacturing to collaborative manufacturing and supply chain management. However, companies often struggle to measure the performance of assets. This challenge is significant; if managers cannot measure performance, they cannot effectively diagnose or resolve problems.
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