Industrial operations that use physical assets for production or service delivery need their assets to run optimally, and cause minimal operational disruptions when they don’t. Spending too little overall, or on doing the wrong things, always backfires. These short-term savings inevitably lead to breakdowns disrupting operations that cost much more in lost revenue than was saved by under-spending.
This article is intended to help financial managers reap the hidden benefits of ‘proactive maintenance’ and avoid the issues caused by reactive maintenance and under-spending. A proactive maintenance approach decreases the overall cost of maintenance without sacrificing asset performance / lifespan, or creating unsafe workplaces.
The key behind maintenance contribution to financial results lies in two basic facts:
- Proactive work is less expensive than reactive work, and…
- The more proactive work done, the less overall work is required, reducing budgets
To read more, click here: How maintenance contributes to financial performance
