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Production Loss Accounting

Meridium's Production Loss Accounting (PLA) module meets this need as an enterprise software application that allows you to manage production goals, collect actual production values, track production events and impacts, and reconcile production targets. With robust analysis and reporting capabilities, PLA makes it easy to visualize production losses and their impacts. Its extensive capabilities to integrate with other analysis tools and enterprise data make PLA the ideal solution for accurately measuring, analyzing, and communicating production performance.Learning Point Takeaways:

1) Learn why it is important to document production losses.

2) Learn how assigning production losses to the causing assets improves your ability to identify bad actors.

3) Learn how tracking production losses combined with root cause analysis has helped other companies save money

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