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Lowering the Cost of Machinery Ownership

Estimated reading time: 2 mins

If you work in heavy industry, where expensive machinery is necessary for you to run your business successfully, things can get pretty expensive pretty fast. Not only does the machinery itself cost quite a lot, but running it over the years can be even more expensive.

The good news is that there are lots of things you can do to lower the cost of machinery ownership. Here are some of them:

Buy Used

A very good way of cutting the cost of machinery ownership, and in fact one of the simplest, is by purchasing used equipment in the first place. There are countless companies around who will sell you perfectly good used machinery at a fraction of the cost of new, so it really is a no-brainer.

Invest in the Best

As a business owner, it is up to you to do your research and find the best pieces of equipment for you. As you can see from this sealed spherical roller bearings case study, paying a little more for a better product can pay off in the long term via reduced wear and tear and overall maintenance costs, not to mention longer machinery life. Sometimes, paying more is smarter.

Control Idle Times

Using something like CASE Sitewatch to control idle time can save you a lot of money that would otherwise be spent on fuel by minimizing the amount of time that machinery is left idling. You can control the process with one-touch, so it’s really easy to teach your employees how to use it, and it will make a dramatic difference over the years.

Make Best Use of Your Fleet

It’s shocking how much money is wasted by contractors because they either have to stop working or hire in new equipment simply because they haven’t kept good track of their own. For example, they may be in need of a backhoe, thinking they don’t have one they halt work, costing them time and money, all the while, the equipment they need is sitting idle on another site! The moral of the story? Track your fleet, so that you can use it to the most benefit.

Have a Planned Maintenance Contract

A planned maintenance contract can save you bundles of money over the years because it will ensure that all vital maintenance is carried out exactly when it needs to be. Your employees might keep your bearings well greased, and your initial purchase contract might ensure that you can get some basic work done for free for a while, but once that ends, your equipment takes a hit and starts to degrade more quickly, which could cost you a fortune in terms of replacements or paying for maintenance as and when needed, UNLESS you have a planned maintenance contract in place.  

Use Remanufactured Parts

Instead of buying brand new parts when you need to make repairs, consider using OEM approved remanufactured parts, which are more affordable and which will minimize the amount of downtime you’ll need.

Utilize as many of these strategies as possible, and you’ll notice a big difference in your business bills, guaranteed.

 

About the author /


Simon is a creative and passionate business leader dedicated to having fun in the pursuit of high performance and personal development. He is co-founder of Applied Change, a Business Change consultancy based in the UK. Simon is also an Ambassador for Gloucestershire business. Simon is an Associate Member of the Chartered Institute of Professional Development.

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SimonStapleton.com located at Watledge , Stroud, UK . Reviewed by 18,205 readers rated: 9.8 / 10
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