Why invest in preventive maintenance? The answer is simple. Impaired equipment causes downtime, and downtime is very expensive.
Statistics on the cost of downtime vary from site to site, but one thing is clear: Repair costs are only the proverbial tip of the iceberg. Any calculation of the true cost of downtime has to take a number of factors into account.
Consider the spiral of negative consequences when your equipment is unable to perform its primary function. Product quality can suffer in the lead-up to failure. Unanticipated production stops mean immediate loss of output – and subsequent loss of revenue. Idled employees are inefficient. Malfunctions can shorten the equipment lifetime. Customer expectations are not met when delivery schedules are missed.
Bottom line, hidden costs swell when preventive maintenance is de-prioritized in favor of short-term savings.
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