The goal of industrial equipment maintenance is straightforward: to reduce costly breakdowns and guarantee that gear functions at peak efficiency. However, there is still a segment of the manufacturing industry that sees maintenance as a waste of producing hours.
Using a four-hour estimate for each unexpected episode, the overall cost of each incidence of equipment downtime averages $2 million, which includes missed production hours, personnel, parts, sales, and goods due to equipment failure. With expenses so high, why would a manufacturing company risk downtime due to a lack of machine maintenance? Of course, the solution is time.
In this article, we will discuss the benefits of manufacturing equipment maintenance.
Maintain Equipment Efficiency
A new piece of equipment is in excellent condition. It operates smoothly. Each piece of equipment’s concept of efficiency may change, but new equipment runs like a well-oiled machine? That is beneficial for business.
When industrial mixers and blender equipment operate effectively, projects are completed on time or ahead of schedule, and your bottom line benefits. Maintaining that ideal, like-new state is critical to preserving that degree of equipment efficiency. Maintenance suffers when efficiency decreases. Your bottom line suffers when efficiency falls.
Small Problems Grow In Size Over Time
We’ve all seen it before, haven’t we? Something isn’t working the way it used to, but it’s not harming our job too much, so we keep going, sometimes even adjusting how we utilize the piece of equipment to keep things moving. It can even be a small issue as a short circuit in your electrical metal boxes which might end up causing production machines to trip. While this may appear to be the most expedient approach to get the task done in the short term, it may cause you big difficulties in the long run.
If something isn’t operating as it should, what should you do? regardless of how minor? If it is not handled, it will most likely escalate into a larger issue.
Fixing Major Issues Is Expensive
While it may make no sense to spend the time and money to have it inspected or repaired when you can work around it, the reality is that waiting will cost you even more. Larger, more sophisticated repairs are more expensive. Consider more than just pieces. Yes, a more complicated problem will almost certainly necessitate the replacement of more and/or larger, more expensive parts, but it doesn’t stop there.
Substantial issues frequently result in more downtime, and more downtime means you’re suddenly behind schedule and/or unable to take on a new project. If you have workers who were scheduled to work with that piece of equipment on the clock, you are now paying them even though they are temporarily unable to work due to equipment downtime.
If you’ve reached this stage, you’ll do everything it takes to get the equipment back up and running as soon as possible, but that comes with its own set of charges. Expedited shipment of components comes at a cost. Everything adds up. Larger issues have a snowball effect. Don’t wait for a greater problem to arise; instead, invest in a little one.
Increase The Resale Value
In 2017, the manufacturing equipment market is expected to be worth $192 billion. You’ll probably want to sell a piece of equipment at some point to upgrade to a newer model. Whether you want to trade it in for a newer model or sell it privately, you want to obtain the most money for that piece of equipment.
Detailed maintenance records for heavy equipment can help you receive the maximum money for your sales. This is why: Consider the last time you purchased secondhand equipment.
General Operating Enhancement
When your equipment is effectively maintained, it is less likely to break down, resulting in improved uptime, more working hours for the equipment, fewer maintenance expenditures, and, as a result, more income.
Well-maintained robotic runs more efficiently – and this applies to practically every form of machine, including automobiles, machine tools, hand tools, industrial equipment, and so on. When air filters become clogged, the systems have to work harder to produce the same outcomes. Dirty oil does not lubricate an engine as well as clean oil. Worn belts slide and hoses leak, resulting in higher fluid use. All of this leads to operational inefficiencies, which can reduce run time, lower output or performance, and raise expenses.
Increased Equity And Borrowing Power
When equipment is well-maintained, it has a longer functional life and keeps its worth for a longer period. If the useful life of a piece of equipment can be prolonged by 3-5 years, it equates to an additional 3-5 years of income from the same machine.
When a corporation seeks commercial equipment finance, well-maintained equipment might also be advantageous. When a company has to borrow money, whether to buy or lease equipment, consolidate debt, or seek a cash-out loan to support business operations, putting equipment as collateral on the loan can be quite useful. The larger the worth of your equipment and the more equity you have in it, the greater your borrowing power.
By ensuring the health of your facility’s equipment, you are providing the greatest possible product to your consumer base. This is what distinguishes you from the competitors, and it should be the reason you make certain that no maintenance issue goes unnoticed. Machines that are well-maintained consistently provide the greatest output and help to retain your facility’s reputation in good standing – robust CMMS software solutions can help with that.