Both small and large organizations are progressively depending on contractors and other 3rd parties. This is especially true in the area of reliability and asset performance, where industry experience and knowledge can be particularly specialized. Currently, one in five jobs are filled by contractors, with that number expected to grow in the coming decade.

Contractor management is an increasingly important component of any successful business. Not only does it ensure that the right people are in place to handle important tasks, but it also helps to create a culture of accountability and trust within the organization. To ensure the success of contractor relationships, it is important to conduct a root cause analysis on a regular basis. This will help to identify any areas of improvement and ensure that all parties are held accountable for their actions.

How does your organization evaluate the success of your contractors or how you go about managing them? Do you have a contractor assessment in place? Download our best practices contractor management checklist to learn 5 key tips for successfully managing contractors.

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5 benefits to tracking downtime

Infographic highlighting the 5 benefits to tracking downtime data.

The Role of Generative AI in Asset Management

The successful implementation of digital technologies, particularly generative AI, demands a structured change process. This involves not just making the technology available but also enabling individuals to acquire and enhance the necessary skills for its use, thus ensuring the technology's full potential is realized through widespread adoption.

APM business case

Get a better understanding of the components of OEE with this cheat sheet. The sheet includes OEE calculation examples.