Paying for preventive maintenance is similar to purchasing insurance, only better. Insurance provides what is needed post accident/breakdown, but preventive maintenance assists corporations in sidestepping expensive breakdowns.
Companies that fail to employ preventive maintenance plans are playing with fire. Machines will break down. It’s just a fact. The very best machinery is destined to break down at some point in time, simply because it is what it is, a machine.
Machines require servicing to be fully operational and to remain in excellent condition long after initial installation.
Manufacturers place value on preventive maintenance and instruct owners and operators concerning a machine’s service requirements. Ignoring those instructions is a plan for disaster, yet some companies fail to grasp the importance of preventive maintenance plans. This is a costly mistake.
Breakdowns & Emergency Repairs – Don’t Risk it!
Investors and shareholders are interested in the bottom line. Work cessation and the ensuing results are the bane of a company wishing to keep its shareholders pleased.
Preventive maintenance safeguards that machines won’t break down at inopportune times, and face it; there is no opportune time for a breakdown. Competitors gain an edge when manufacturing comes to a halt and the downed company loses money.
Once the company is up and running again, they continue to pay out. It is foreseeable that it will continue to lose money on overtime pay increases to make up for the loss at downtime. The company also has the added expense of paying for crisis repair, which could include the cost and rush order of new parts, after-hours labor or even replacing machinery that is worn out before its time, due to the lack of regular maintenance. Hazardous material cleanup is a concern and will cost the company heavily and with it comes more fines (learn more about the risks of ineffective preventive maintenance >> List: Most common symptoms associated with infrequent maintenance inspections).
Make Sense of Your $$
Companies make the mistake of failing to purchase preventive maintenance packages because of the upfront cost. It can be expensive. However, it is a catch twenty-two proposition. A company is going to pay one way or the other and paying to maintain a working system, rather than repairing a non-working system is less expensive in the long run. Statistics show, according to Bob Williamson, a contributing editor with Maintenance Magazine, that repair-based maintenance is significantly more expensive than preemptive/preventive maintenance.
A recent study by Lang LaSalle (2017) determined the exact return of Preventive Maintenance as 545% on average. Ineffective Preventive Maintenance? Don’t risk it! Prolong the life-cycle of your equipment, prevent costly shutdowns and minimize emergency repairs. Contact Quality Millwrights today for a free inspection – 3 decades of proven experience at your fingertips.