Poor equipment maintenance: Signs and solutions
The chances to have a higher ROI rapidly increase if a company keeps its tools and machines well-polished through equipment maintenance history. A report found out that predictive analysis yields a ten times increase in investment. The is possible if a robust maintenance routine is implemented by organizations. Mainly maintenance costs form 40%-50% of a firm’s operational costs. For this reason, organizations set aside separate budgets for equipment rehabilitation. One of the main reasons for doing so is to boost up business performance.
When you maximize asset utilization, you are likely to gain economies of scale and cut down on costs as well. But how can you tell if you are on the right track? Here are some ways which will help your company to detect if you are struggling with ineffective maintenance practices:
- Poor equipment utilization as a result of unexpected breakdowns
- Long wait or idle time for machinery during outages
- Frequent malfunctions indicates to having substandard quality equipment
- High repair costs due to the absence of proper attention to lubrication, inspections, and service
- Reduced useful life of capital investments because of insufficient maintenance
Failing to acknowledge these signs can lead to serious consequences for your organization. Not only will you financially suffer, your productivity will dramatically go down as well. So, what is the best way to tackle such challenges? The simple and ideal solution is to opt for a cloud-based equipment maintenance software program. This software comes with multiple features designed to cater to your tools and machines.
Let’s have a look at some ways you can track equipment maintenance history for an improved business outcome:
1. Keep a track of equipment depreciation through lifecycle management
The useful life of most tools and machines is spread across various stages. This happens because equipment tends to lose its value over time. To make the most out of your capital investment, it is necessary that you schedule maintenance routines to rejuvenate your assets. The first step to do so is to set up a system to record tool devaluation. This practice helps you to streamline the process of equipment maintenance history as it tracks changes in the life cycle of certain tools over time.
With the help of a software, your company can retain a secure database of how machines depreciate over the years. When you have this information, you can take the necessary actions when it comes to disposal of broken equipment. Well-managed maintenance routines improve tool performance and lead to an increase in the overall productivity.
2. Run frequent audits and ensure compliance
When it comes to equipment maintenance history, your company can gain a lot from carrying out audits to monitor work operations. The idea behind audits is to give you an overview of how your tools and machines have been used at a certain time period. Doing this is extremely critical if you want to maintain a log of asset ownership and possession for daily business tasks. You can take advantage of the following positive externalities for your company through audits:
- Get a chance to measure your current growth against proposed procedures
- Use your data to make future amendments and strategies
- Lower the risks involved with equipment data breaches
- Easily meet the latest government regulations
With the changing market trends, it can be challenging to compete with other businesses. Audits allow you to record, report and analyze the company’s previous achievements and push it even further to meet its targets.
3. Stay in control of daily maintenance activities
Your inventory comprises of a hundred tools and small instruments. All of which require service and repair on a regular basis. This can become quite the hassle if you don’t know which asset is being taken out for maintenance and when. The absence of records can cause unexpected delays and demotivate employees. Your company shouldn’t have to bear this little inconvenience when there is a simple solution to this issue.
For starters, it always helps to conduct equipment maintenance history in an organized manner for seamless workflows. To do this, your organization can deploy a software which lets you tabulate everything under a dashboard with an event calendar. This way whenever there is a service event, everyone in the office will be notified in advance. Pre-planned events pose a greater chance of having successful outcomes. Increase maintenance visibility for effective management processes!
4. Enable recurring services for smooth operations
To implement an effective business plan, it is necessary that you design smart risk management practices. In order to run seamless work operations, you can automate them to achieve better results. This can be applied very easily when it comes to equipment maintenance history. As you have an inventory of different tools, it is feasible to align repair and service sessions. Instead of making appointments every now and then, you can configure your system to run pre-planned maintenance sessions. This way your equipment will get serviced regularly and get the maintenance it needs. On-time repair practices enable your business to follow its acclaimed goals and objectives!
Boost up ROI with the right tools for the job – Opt for EZOfficeInventory
The key to seamless business growth includes choosing a reliable fundamental software designed to function in the long-run. Many companies ignore this fact, and go for cheaper options available, only to find out a few years later that they now need to upgrade. You can avoid making the same mistake when you select EZOfficeInventory for your business.
This software comes with all solutions bundled into one. It lets you take care of all your equipment through a single point of access. Your database always remains safe and secure as the software provides protection against any unauthorized actions. As a result, your equipment maintenance history records are free from the threat of infringement and theft.
EZOfficeInventory recognizes the difficulties involved with equipment in transit and provides a simple solution to this as well. In order to keep tabs on all your tools during daily operations, the software comes with a system of check-ins and checkouts. This way every time your assets are taken out for use, your records will be automatically updated. Whether it’s a repair session or a new purchase order you can quickly enter it into your database.
With the ability to use barcodes for positioning, warehouse management for your equipment also becomes a lot more organized. This eliminates the dangers of misplacement and internal fraud. Get your equipment in shape today with EZOfficeInventory to enjoy higher ROI tomorrow!
You can try out our maintenance management software by signing up today for a free 15-day trial. For more assistance, drop us an email at email@example.com.