Focusing on fixing equipment problems as they occur can seem like a cost-effective strategy; one that is still practiced by over 55% of U.S. companies today. However, breakdowns can leave you with unplanned expenses directly associated with the unpredictability of equipment failures. Breakdowns can easily result in overtime labor, unscheduled production downtime and challenges to find spare parts to get the factory up and running again. In fact, a study by mobile data solutions vendor Mintek found that “a company can save between 12% and 18% using preventive maintenance”.
With the arrival of preventative maintenance season – here are some reasons why keeping up with maintenance can make for a more profitable year:
2. Increase Equipment Lifespan
Minor problems can easily grow into major ones. Using routine inspections, minor problems can be fixed, thus preserving your equipment and preventing the need of an early replacement.
2. Meet Production Deadlines
A breakdown means production comes to a halt, leaving you scrambling to meet deadlines and paying for the factory floor to sit idle. Routine maintenance can be the difference between a delay in production and a simple part replacement.
3. Plan Equipment Replacement
While doing tune ups, the maintenance team can identify wear or issues with a piece of equipment and flag it for future replacement. While it isn’t fixed right away, it helps to know this issue in advance. One can include the replacement it in the capital budget rather than paying for a replacement on the spot.
4. Save Time and Money
Schedule yearly maintenance at a fixed rate and during planned shutdowns, saving on labor costs. Allow for parts to be ordered at their lowest price and shipping costs. Negotiate with your vendor to keep certain items in stock during season. Get your pick of the team to maintenance your facility – choosing quality over availability.
5. Peace of Mind
Scheduling a yearly tune up with a professional for the more complicated maintenance can leave you feeling more relaxed for the start of the season. Knowing that during a certain time every year your facility will be getting a full check up and diagnosis will help you plan and execute your season successfully.