Seven Strategies For Reducing Equipment Maintenance And Management Cost

It doesn’t matter what is the size of your business. The equipment and facility maintenance and management cost is going to be pretty high. So, as a supervisor or manager, you always want to reduce this cost. You have to because businesses, especially in the manufacturing sector, have to bear maintenance and management costs that can be higher than the annual net profit. 

You might find it impossible to cut these costs. However, the right planning makes a significant difference. Simple strategies can lead to better utilization of the equipment and controlled maintenance and management cost. From timely repair and maintenance to equipment breakdown insurance, there are several ways you can save some money. 

Following are the simple strategies you can implement to reduce the burden of these expenses:

  • Procedure Simplification 

Go through your operational and maintenance procedures and spot redundancies. Make a list of unnecessary or costly but less efficient tasks you are performing. Eliminate unnecessary tasks and replace costly but less efficient tasks with more efficient ones. Put more efficient equipment and newer practices in place. 

Workers follow instructions to complete a certain process. Due to the addition of new instructions over time, the process becomes too complex. When there are too many details and instruction involved in the process, workers might not follow all the details and steps. So, eliminate unnecessary steps and details.

  • Equipment Optimization 

Learn to leverage machines and equipment to make the best use of them. Get the purpose the machine is supposed to serve. Each equipment has operational parameters and recommended lifespan. So, don’t use the equipment beyond these operational parameters and recommended lifespan. Otherwise, this will not only affect the efficiency of the machine but will also lead to frequent breakdowns and repairs. 

  • Training Practice Review

Design your work processes for maximum safety. Maintenance personnel should be properly trained. Train your workers on your existing machinery and new machines and parts. When it comes to operational and safety practices, don’t cut costs. You will have to pay more if a technician or operator gets injured.    

  • Schedule Maintenance 

You can not predict all repairs and breakdowns. However, you can minimize many risks with preventive maintenance. So, create a regular maintenance schedule covering all the equipment. This provides you with a buffer. You can cut down the time and cost you need to invest in repairs, especially during emergencies. You can call experts for timely repair and maintenance. 

  • Educating Non-maintenance Personnel 

Non-maintenance personnel should also be educated, especially when they often use specific equipment. They can notice any unusual noise or other issues. Put a system in place allowing them to report any such issues immediately. 

  • Using The Right Technology

The use of the right tool makes the maintenance process more efficient and productive.

  • Warranties And Insurance 

You can get equipment breakdown insurance or extended warranty at the time of buying new machinery. You can save a lot of money you have to spend on equipment repair and maintenance. 

If you implement these seven strategies, you can easily save decent equipment maintenance and management cost.  

 

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