Tips to Reduce Equipment Maintenance Costs

Equipment can be your most valuable investment at times. However, if not properly maintained, this investment could quickly lose value. While equipment maintenance might be pricey, it can also be one of the most cost-effective methods to save money in the long run, as replacing damaged or broken equipment can be even more costly.

Fortunately, you can take some steps to reduce the amount of money you spend on maintenance.

Profitability and the impact of equipment maintenance costs
Before looking for ways to minimise costs, it’s critical to recognise and comprehend how maintenance charges might benefit your bottom line. For example, if you have an equipment that has only been used infrequently (say, a milling machine), it will be more expensive to “catch up” on maintenance after it has been neglected for a while.

If the machine’s bearings need to be replaced and it hasn’t been serviced since before you bought it, basic repairs could end up costing much more than you expect. Regular, preventative maintenance, on the other hand, aids in lowering overall operating expenses.

If you can extend the time between major repairs or replacements, you will not only increase your bottom line, but you will also provide more opportunities to the business. Because no costly emergency repairs are required, bids for new contracts can be lower, boosting the chances of winning.

Examine and streamline all maintenance procedures
While scheduling maintenance operations is vital, if they are not completed or are completed incorrectly, the intended results are not achieved. Solicit and respond to employee input. Workers should be able to explain why each step is necessary and how they might execute maintenance tasks more effectively.

Accelerating their work or explaining why each step is crucial will encourage them to keep going. When employees understand why they are performing a task, it makes the process appear less tiresome and more appealing. This can assist eliminate errors and make sure that your personnel are invested in what they’re doing and want to do it effectively.

Understand and adhere to safe work procedures
When performing maintenance, it is occasionally necessary to disable current safety systems. Before operating any machinery, ensure that all safety measures are understood and followed by workers.

Be ready for the worst.
It is conceivable for a machine to fail during maintenance or while being shut down. Prepare to respond effectively in either case.

If you have an emergency shutdown plan in place, ensure that your personnel are taught on all of its components and understand how to initiate it. Ensure that all manuals and documents are clearly accessible, and that the most important information is posted near the machines.

Improved management of unscheduled or unplanned maintenance
In some circumstances, no matter how much maintenance is performed, a breakdown will occur. In these cases, having a restoral plan accessible and available is crucial. The strategy should be tailored to each piece of equipment, including specifics on what could go wrong and what workarounds can be put in place to restore services.

In the event of a breakdown, have your equipment and materials ready in case they need to be called into action right away. Maintain adequate supplies and keep everything tidy and in an easily accessible position when not in use; this will assist lessen tension when problems develop unexpectedly.

If repair is not an option, consider how quickly the equipment can be replaced and the impact on the business. Can you substitute another piece of equipment for the broken one? If not, is it possible to temporarily outsource service work? Prepare and explain an outage plan that incorporates these techniques as well as how others in the organisation must respond.

Whether you have a spare piece of equipment on hand or not, make sure your staff understand their tasks in the event of a breakdown. Ensure that all employees are trained on any processes that may be required as part of their job function and, if possible, cross-trained for other positions. This ensures that everyone understands what is expected of them in order to keep operations operating properly.

Have the proper equipment – Maintenance Management Software
Having the appropriate tool in your arsenal can go a long way toward lowering costs. The correct software tool can aid in the audit of your equipment and fleet, as well as record and preserve information to aid in the search for patterns.

Data such as the period of time equipment is in use or the amount of fuel used can assist you in determining when it is time to replace specific pieces or equipment. Keep records of your equipment performance reports so you can understand what is working properly and what needs to be changed. Examine these reports on a regular basis so that you always know how your fleet is doing and what steps need to be performed next to keep it running well.

Proactive alerts can be set up using inspection software to detect when maintenance is required or if the equipment has changed in any way. The data acquired by inspection software will assist you in determining whether your current fleet plan should be altered, supplemented, or left as is. You can keep track of which inspections still need to be completed and avoid the annoyance of wasting time that could have been spent elsewhere.

AuditFlo is the tool you need
With AuditFlo’s personalised maintenance lists and reports, you can do equipment maintenance significantly more quickly and view the results from any device at any time. You can collect statistics on how frequently a piece of equipment needs to be maintained or breaks down, and then make a data-backed decision on whether to repair it or replace it.