It would seem impossible for any business operating in the industrial space to truly be prepared for the hidden costs that come from the unexpectedness of their processesEvery business is different, but the industrial industry is one that requires a great deal of finesse to operate in, especially considering the equipment is so uniqueHow can a business prepare for the costs that may come out of the blue when operating in this industry? This post will breakdown these hidden costs and how they contribute to an organization’s processes.
Cost effectiveness is at the core of every decision a business makes, especially in regards to machineryTo save the most on maintenance, businesses need each piece of equipment to be performing at optimal levelsHowever, in order to ensure this quality of work continues, these machines will require maintenance such as proper lubrication and completing regular oil changesFinding a schedule that allows all equipment to be serviced regularly while still partaking in operations is difficult.
Maintenance isn’t cheap, thoughSo not only can it impact the success of a business, it can also result in additional costs needing to be coveredFor example, unnecessary oil changesMany businesses believe their machines’ problems can all be solved from an oil changeUnfortunately, this isn’t true. Not only do these organizations have to then pay for the oil change, but they’ll also be responsible for the spend necessary to solve the problem.
Building off of the unnecessary oil changes that many businesses erroneously make, organizations are also faced with the costs needed to repair damages done to their machineryIn some cases, this damage can be a result of an employee mistake, for example, an over or under-filling of the sump or reservoir, which then introduces contaminated or incorrect product with leakage causing serious damageResolving this damage will require maintenance and subsequent downtime, which means more expenses necessary to face.
It may seem disingenuous, but the truth is, some downtime can resolve issues more than forcing machines to continue operating at suboptimal levels canTaking the time to realize the core of the issue can make all the differenceIn fact, most machine failures are attributed to improper maintenance resulting in bearing malfunctionsWhile it can be expensive to replace the bearings, realizing a machine is non-operational will cut much further into the pockets of an organization.
It can be difficult as a business just starting in the industrial industry to make sense of the dangers that incorrect maintenance or suboptimal lubrication can causeThese businesses have a lot to learn about the different solutions offered as well, such as equipment upgrades like cutting-edge magnetic bearing sealsWith these upgrades, reducing the hidden costs with equipment becomes much easierTo learn more about these different technologies, be sure to read on to the infographic paired alongside this postCourtesy of Isomag.
