Why is preventive maintenance plan good for your business?
Preventive maintenance plan is being opted for by a number of businesses across the globe. The main objective of this plan is to keep the assets of your company running so that they perform in a consistent manner.
Most importantly, if the equipment and assets are in a running condition, it also means that they are safe for operation.
In this article, let us catch a glimpse of the advantages and disadvantages of the plan in the paragraphs that follow.
How will you benefit from the plan?
Any maintenance schedule or operation is rendered beneficial if the advantages far outweigh the drawbacks. So, let us take a look at the benefits first.
Decreased downtime
The maintenance schedule means that you will face infrequent downtimes and as a result of which the number of major breakdowns that you have to deal with will become less over a period of time.
Asset maintenance
If your business is into manufacturing, it means that if the assets and equipments are well kept, the output will be good too. Moreover, there will be better conservation of assets and equipments. As such, you don’t have to spend money in replacing parts too early (thereby preventing premature replacement)
Overtime costs reduced
If your machinery is maintained at regular intervals, it also means that you can avoid sudden expenses that might arise from unexpected breakdowns. Also, in the event a breakdown occurs, you have to make your workers work for extra hours, which will attract additional expenses as overtime. However, these instances can be overcome with preventive maintenance plan.
Avoid major repair work
As mentioned above, you will be able to avert major breakdowns that would have attracted a lot of money.
Better and safe working environment
Reduced downtime and almost negligible repair work means that you save on repair expenses and this also ensures that the working environment is safe for your workers. So, you allow your workers to work in safer conditions, which mean a lot to the workforce. Aside from that you get better quality product at your manufacturing unit.
Return on Investment
According to studies, the ROI or Return on Investment is very high if you invest in the program. And studies reveal that it is around 545%, which is a remarkable figure.
Longevity of equipment
Regular maintenance schedule means that you are taking good care of your machinery and assets and this also means that they will have a longer life span.
However, just as a coin has two sides, if there is more number of benefits, you cannot rule out a few drawbacks too. However, if you can take this into your stride, you can turn a blind eye to them.
Drawbacks of preventive maintenance plan
One of the major drawbacks is that for the maintenance schedule that is essentially powered by Computerized Maintenance Management System CMMS software, you have to shell out money upfront even if you think that the working conditions of the machinery is not as bad as reckoned.
In order to overcome this problem, you can prioritize the repair work pertaining to the equipment. Opt for the ones that are in absolute bad condition and need immediate attention.
Over maintenance
Another lacuna that you might encounter in this plan is that of “over maintenance”. Since the maintenance schedule is at regular intervals, there might be a problem of over maintenance. And as mentioned above, this can be overcome by prioritizing your equipment repair work.
Workers’ paycheck
Since the regular maintenance schedule has to be carried out. It implies that you have to shell out money for the extra workers that are working day in and day out for the repair and maintenance work.
However, every problem has a solution and if you can talk to your team and project managers about the problem, the same can be addressed promptly, which in turn means you can save on your resources well.
You might also want to read Questions to ask before Starting a Business.
An important aspect that you must keep in mind is that no two companies will require the same solution. If you think that preventive maintenance plan can serve the purpose for your business, without second thought, go for it.
On the other hand, it is quite likely that your business set up is still not ready to embrace this technology and you must wait for right time to implement the same.
Regardless of the situation, it is important that you shop around for the service provider offering the plan and not zero-in on the one that you come across first.
Ideally, you must weigh the pros and cons and then decide with your team members whether it will be the right move for your business or organizational goals and vision.