Top Maintenance Cost Management Strategies
As a manager or business owner, you understand the importance of regular maintenance throughout your workspace, on commercial vehicles, and on industrial equipment. Regular maintenance helps prolong the life of your machinery and equipment, reduces accidents, and increases efficiency and productivity in the workplace. But regular maintenance, especially on specialized machines and equipment, can quickly add up to a significant part of your business expense. To help reduce spend, here are some top maintenance cost management strategies.
Follow Machinery & Equipment Guidelines
The best way to reduce maintenance costs is to reduce the amount of reactive maintenance that a machine or piece of equipment needs. This means training workers to use each machine properly. Over-using a piece of equipment or using it for anything other than its intended use can increase the chance of a breakdown or malfunction. Being proactive is one of the most effective maintenance cost management strategies.
Focus on Preventive Maintenance
Following the same line of thought, one of the most important maintenance cost management strategies is to follow a strict preventive maintenance routine. Preventive maintenance is the best way to minimize workplace hazards, machinery malfunction, and other unexpected delays that could impact how a business is run or the safety of employees. The goal should be to keep your facilities and equipment in top condition to prevent sudden costly surprises.
For more advice, see our blog post on How to Create an Effective Preventive Maintenance Schedule.
Use Maintenance Checklists
A checklist can also help ensure that maintenance is on schedule and to specification, so every machine or piece of equipment receives the top standard of care regularly, and nothing is missed. A comprehensive maintenance checklist should include:
- Where the commercial vehicle, tool, machine, or piece of equipment is located
- When it was last serviced
- Pictures of issues or concerns during maintenance
- Notes/details about the specific maintenance request
- A space for contact info and signatures
Using digital maintenance checklists can help keep things on schedule and retain better records of inspections and repairs.
For more tips, see our blog post on How to Create a Better Preventive Maintenance Checklist.
Keep Detailed Reports
Documentation and organization are vital in cutting maintenance costs. A custom maintenance report is crucial to document any routine or emergency maintenance services performed on a specific vehicle, piece of equipment, or machine. The report can also include detailed instructions for maintenance on individual pieces of equipment or facilities. With comprehensive reports, you can keep tabs on your maintenance and identify any machines or facilities that may be costing you more in maintenance costs than they are helping you to generate a profit.
Device Magic makes it easy to create custom maintenance checklists and collect data for reports even without an internet connection. Learn more.
Focus on Inventory
If you have an unorganized closet full of mismatched machine parts, you could be spending unnecessary money on things you already have. Take the time to carefully and strategically go through your inventory and document what you have. Create a system that allows you to easily record how many pieces and parts you have and alerts you when it is time to order more.
Expect the Unexpected
There’s never a good time for a machine or piece of equipment to break down. These things are unpredictable and can cause a delay in productivity. While regular preventive maintenance can help to reduce surprises, give yourself a “time buffer” on large projects in case you run into a maintenance issue. This way, you will not be forced to pay extra for expedited maintenance services to meet production deadlines.
Invest in Training
When everyone knows the correct way to use the equipment, you can reduce the chance of accidents and machine breakdowns. Training your workers on how to use all of the equipment properly and how to notice signs of malfunction or wear and tear can help you reduce the need for repair.
If it’s been a while since you’ve provided training on how to safely and effectively use all of the equipment, schedule a training day. This won’t cost very much upfront and can save you money and headaches in the future. This kind of training can also increase the number of eyes and ears that are paying attention to the condition of the equipment.
Use Innovative Technology to Track Costs
More and more companies are going paperless and using technology to help them track and analyze data. Going paperless not only helps your company be more sustainable, but it can also reduce human error in data collection. Software and apps that convert numerical data into graphs and charts make it easy to see exactly what you are spending money on. Sticking to pen and paper reports could result in errors regarding vital aspects of your maintenance strategy that are costing your company money.
Try Device Magic for Free
Maintenance is a necessary part of running a productive and successful business. It can also be one of the most expensive. Proper documentation and intentional focus on preventive measures, inventory, training, and best-use practices can extend the life of your equipment and reduce maintenance costs.
With Device Magic, you can easily create custom maintenance checklists, schedules, and reports tailored to your business. This can help reduce costs, capture key data, and share information with your team in the field and in the office.
Take the first step to cutting maintenance costs by building mobile forms, checklists, and reports by starting your free trial today.