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New Caterpillar Course for Customers on “The Fundamentals of Equipment Economics” Improves Profitability by Delivering Insights on Machine Costs and Lifecycle Management

by Sara Smith | Jul 06, 2021
Caterpillar Inc. announced the availability of “The Fundamentals of Equipment Economics,” a practical, web-based training course that helps construction business owners and fleet managers reduce equipment costs, extend and optimize machine life, and ultimately improve profitability through proven, data-driven principles.
Built on over 50 years of experience, Caterpillar has partnered with industry expert Mike Vorster to develop a world-class equipment economics curriculum. Mike has experience as a construction site engineer, consultant, author and educator. He is the author of “Construction Equipment Economics,” an academic advisor to the Association of Construction Equipment Managers, and a +20-year member of the National Academy of Construction.

An eight-part online program offered by Caterpillar University, “The Fundamentals of Equipment Economics” is designed for a wide range of businesses, from large contractors that manage diverse fleets with hundreds of machines to small construction and landscaping firms using a single piece of equipment. It uses a pragmatic, step-by-step approach to teach essential skills and best practices for:
- Predicting and managing owning and operating costs
- Determining when to repair, rebuild or replace a machine
- Measuring the value of reliability and utilization, and mastering quantitative tools and advanced economic concepts. 

“Our customers are always looking for innovative ways to run their business. This course provides customers with an opportunity to learn the principles necessary to maximize equipment life and improve their bottom lines,” said Fred Rio, worldwide product manager for Caterpillar’s Construction Digital & Technology Division.

Additionally, the curriculum has been endorsed by the Association for Equipment Management Professionals (AEMP). “As an organization driven by building excellence in Equipment Management, we are excited to support Mike Vorster and Caterpillar on this endeavor. The content in this course is invaluable to enhancing the knowledge of aspiring and current professionals working with heavy equipment” says Donte Shannon, FASAE, CAE, CEO of AEMP.  

For information on registration and pricing, visit: cat.com/equipment-economics.

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