Equipment management can be one of the most integral parts of your construction business. In part one of this two-part podcast, Wayne Newitts and Mark Schwartz dive into the operating costs of your fleet through the entire life-cycle of the equipment.

Podcast highlights:

  • 2:20 - Call out to Dr. Vorster at www.cempcentral.com.
  • 3:01 - Get into the subject of purchasing heavy equipment and the initial investment.
  • 5:10 - Mark talks about the importance of equipment maintenance and how reducing cost is essentially profit.
  • 8:00 - Running a "thin" business can create a cascading benefit, but the opposite is also true.
  • 12:10 - They talk about Dr. Vorster’s equipment management methodology—understanding the true costs of ownership and operation, and developing a flexible budget.
  • 18:44 - Mark gets into the details of operating costs and depreciation.

Document to download: Equipment Management – Getting to that 1%