Preventative Maintenance Could Save You 12 to 18%
And keep your business running smoothly
You likely understand the importance of annual maintenance for your business equipment. Proper maintenance assures problematic situations are handled before they can become a larger issue, and helps to ensure energy efficiency. A Preventative Maintenance Plan is your best bet for healthy, low- cost and long lived equipment.
Studies suggest that business who are completely reliant on reactive maintenance can save an average of 12 to 18 percent by investing in preventative maintenance (EERE). Reactive maintenance isn’t cost-effective because the inconsistent nature of equipment downtime often results in unplanned expenses.
Not calculating the true cost of downtime is one of the biggest errors that business owner can make. True downtime costs include loss in staff productivity, loss in production, man hours devoted to rescheduling, the unexpected costs of repairing equipment and time spent satisfying customers.
Unsurprisingly, reactive maintenance downtime contributes to costly repairs. Using equipment to the point of failure may cost 10X more than performing regular maintenance. Businesses that adopt planned maintenance experience fewer breakdowns, which translates to greater output.
Setting up your maintenance Plan
- Begin your preventive maintenance plan by deciding what equipment to include. To produce maximum results, your list should include your highest value or critical equipment.
- Gather the relevant equipment data. With this data, you can make more informed decisions about your equipment. In order to create efficiency it is important to know your equipment data and have knowledge of part numbers, serial codes and user manuals
- Review Manufacturer recommendations. This will impact the consistency and type of work needed for your preventive maintenance plan.
- Assess which failures are preventable and which are typical of the equipment in question. If possible, gather history on equipment failures.
- Understand the amount of downtime is required to check each unit and what the implications are.
By implementing a preventative maintenance plan failures are minimised as they are detected and fixed before they lead to costly downtime. Businesses that adopt an overall preventive maintenance philosophy seem to save more money than those that don’t. According to Jones Lang LaSalle’s “Determining the Value of Preventive Maintenance,” a telecommunications company experienced a 545% ROI when implementing a preventive maintenance plan.
Hiring the right contractor
The more you develop your preventive maintenance plan, the more consistency and reliable cash flow you will have in your business. You will have the ability as your business grows to move from a reactive maintenance plan to a successful preventative maintenance plan.
Putting preventive maintenance into action can be quite intimidating. Talk to the Usher Group, we will manage every aspect of your maintenance needs and provide you with the best possible solutions