The present day market is a highly competitive one and therefore companies need to devise new and innovative business strategies in order to continue making profits and to substantially increase their market share. For this reason, companies have now begun to shift their business focus from creating tangible products to developing a whole range of comprehensive products along with service designs. This explains the increasing importance of innovative services and this has become apparent over the years. However, little has been done for the management of these services. Heavy equipments are ones that are used mainly in the construction and manufacturing industry. These colossal equipments are difficult to transport, are capital intensive and have a long life cycle of use. This heavy industry machinery is extensively utilised by diverse industries including forestry, transportation, agriculture and construction.
These industries call for substantial investments in heavy equipments and thus getting a proper ROA or return on assets is necessary. Capital velocity is highly important in this respect. It is necessary to make provisions for such innovative services in order to ensure high level of performance and asset availability within a limit budget. Heavy equipments are usually customised and thus are difficult to manage and maintain. These equipments can be divided into different categories such as mining equipment and construction equipment. A working face, shovel, stacker and dumper is used for open pit mines whereas a drill, underground loaders and rigs are used for underground mines. Construction equipments comprise a long list including trenching equipment, piles driving equipment, wagon and trucks, excavating equipments such as clamshells, power shovels, hoes and cranes; draglines, scrapers and tractors.