When it comes to planning budgets, maintenance is often at the “tail end” of the process. This frequently results in “run-to-fail” becoming the modus operandi for dealing with machine issues. This reactive approach to machine maintenance, while perhaps cost-effective in the short term, can be quite costly in the long run.
Why let the tail wag the dog?
Unmonitored Assets: The Bane of Maintenance Budgets
Planning and maintaining a budget for industrial machine maintenance is challenging even in the best of times. Throw a pandemic into the mix and all of the uncertainties that come with it and you’ve got a recipe for making an already struggling budget spiral completely out of control.
Take back control of your maintenance budget by focusing on adopting a more predictive maintenance strategy such as condition based maintenance (CBM).
Benefits of incorporating predictive maintenance into your 2022 budget:
- Predictable expenses
How can you possibly plan a budget amid unpredictable equipment failures? The reality is…you can’t. CBM monitors and generates data on the actual condition of your machine assets and maintenance is only performed when certain indicators show signs of decreasing performance or an upcoming failure. This enables you to budget more effectively for ongoing maintenance expenses such as parts and labor and reduces the occurrence of budget-busting, unexpected repairs. - Increased uptime
Whether you are utilizing route-based inspections or have your assets connected to a continuous monitoring platform, CBM data can provide the information you need in order to plan and schedule repairs, putting you back in control. - Peace of Mind
By adding CBM to your maintenance process, you will have the time to focus on other reliability improvement projects such as PM Optimization and Work Flow Management.
If your equipment isn’t running, you aren’t making money!
When planning your maintenance budget, having a predictive maintenance strategy in place and qualified people with the right expertise to maintain it is your best bet for getting better control of your expenditures and your uptime.
IVC Technologies is the leading provider of CBM services in the country and our analysts are some of the top minds in the industry. We have over 30 years of experience in helping our clients get the most out of their maintenance strategy. Contact us to see how we can help you.