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This paper aims to overcome the inability of both comparing loss costs and accounting for production resource losses of Overall Equipment Effectiveness (OEE)-related approaches.

The authors conducted a literature review about the studies focusing on approaches combining OEE with monetary units and/or resource issues. The authors developed an approach based on Overall Equipment Cost Loss (OECL), introducing a component for the production resource consumption of a machine. A real case study about a smart multicenter three-spindle machine is used to test the applicability of the approach.

The paper proposes Resource Overall Equipment Cost Loss (ROECL), i.e. a new KPI expressed in monetary units that represents the total cost of losses (including production resource ones) caused by inefficiencies and deviations of the machine or equipment from its optimal operating status occurring over a specific time period. ROECL enables to quantify the variation of the product cost occurring when a machine or equipment changes its health status and to determine the actual product cost for a given production order. In the analysed case study, the most critical production orders showed an actual production cost about 60% higher than the minimal cost possible under the most efficient operating conditions.

The proposed approach may support both production and cost accounting managers during the identification of areas requiring attention and representing opportunities for improvement in terms of availability, performance, quality, and resource losses.

This paper aims to determine the stage of the life cycle where the trucks of a waste collection fleet from a Colombian city are located through a reliability approach. The reliability analysis and the evaluation of curve of operational costs allow to know the moment in which it is necessary to make decisions regarding an asset, its maintenance or possible replacement.

For a dataset presented as maintenance work orders, the time to failures (TTFs) for each vehicle in the fleet were calculated. Then, a probability density function for those TTFs was fitted to locate each vehicle in a region of the bathtub curve and to calculate the reliability of the whole fleet. A general functional analysis was also developed to understand the function of the vehicles.

It was possible to determine that the largest proportion of the fleet was in the final stage of the life cycle, in this sense, the entire fleet represent critical assets which in most of cases could be worth replacement or overhaul.

In this study, an address is exposed for the identification of critical equipment by reliability and statistical analysis. This analysis is also integrated with the maintenance management process. This is a broadly interested topic since it allows to support the maintenance and operational decision-making process, indicating the focus of resource allocation all over the entire asset life cycle.