A car is a pretty big object, and if it needs repairing, it’s not that difficult to imagine what one would do in case it suddenly breaks down. You take it into a shop. Parts are replaced or repaired. Sometimes, you just call in your mechanic friend to have a look at your automobile. Imagining the cost too would be easily comprehensible.
But if heavy machinery breaks down like offshore oil rigs or big diesel engines from aircraft that requires water jetting for a thorough cleaning? How do you repair a truck mount for example? Or a vibrating feeder or screening equipment used in mining? The dollar sign is likewise staggering. 2018 Data shows that the Machinery Maintenance and Heavy Equipment Repair Services industry logged $39 billion in revenues.
This piece looks at a few factors; companies need to consider when these types of heavy equipment falter.
It might be difficult to look for that warranty sticker under that vibrating feeder. But your supplier or service provider contract will indicate if your machine is still under warranty. If you don’t take advantage of your equipment’s warranty, you tend to lose out in terms of the overall total cost of ownership and quite possibly, your profit margins will likewise be affected.
If the warranty is already expired, use the 50/50 rule of equipment replacement. This means, replace only if the cost of repair exceeds 50% of the cost of the actual replacement.
It’s a Data-Driven World
Proponents of computerized maintenance management system (CMMS) software suggests that companies should make decisions based on data rather than making hasty and reactive decisions. The decision comes to whether it’s wiser to repair or to replace.
Age of the machines, usage logged, cost of parts, cost of downtime, and other data points can be plugged into these CMMSs. How does one use all these data added into the CMMS? Reporting and analysis, thus, become parts of the output of the tool. Using these advancements in data analytics and reporting, companies can decide on the most cost-effective option in the long term.
Some of the tools on the market today even allow you to enter data so that you can plan for both preventive and predictive maintenance.
SoftwareWorld ranks the following company as the top ten CMMS software provider for 2019.
- Maintenance Connection
- eMaint CMMS
- Maintenance Care CMMS
Each, including those that are not on this list, would have their own strengths and weaknesses. Making decisions is not always about choosing the best but rather choosing what works best for you.
Read reviews and talk to colleagues or friends in the industry that might have had experiences already with these solutions.
Before wrapping up this piece, it’s also good to note that for companies working with heavy equipment, it’s good to look for service providers that do repair and rebuilding services on-site.
Finally, an important factor in deciding to replace or repair have machinery would be the developments in technology. If obsolescence no longer meets the need of increasing productivity, and thus eventually impacts the financial bottom line, then it might be the opportunity to replace rather than repair. But remember to do your analysis first, as discussed previously.
You need to check the warranty label, explore existing software tools, and determine the state of technology are key elements in making an informed decision on whether to repair or replace heavy machinery.