The costs associated with equipment maintenance can be high, especially if production is shut down for several days while the damaged equipment is repaired. A responsive vendor for replacement parts can reduce these expenses and keep production running smoothly.
It is important to understand the difference between spare and replacement parts. A spare part is an interchangeable component kept in inventory for use as needed.
Quick Response Time
Equipment costs are a significant burden for any company. And, even with the most robust construction equipment, harsh working conditions will eventually cause it to break down. This leaves three options: repair, rebuild, or replacement. Each comes with its unique advantages and disadvantages.
Choosing the right repair strategy is essential. After all, a single breakdown will bring other machinery to a stop while you wait for repairs or replacements to be made. This halts productivity and eats into your bottom line.
In logistics, spare parts (also called service or repair parts) are the functional replacements for any failed part that can be used until the time at which it is no longer economically advantageous to continue to use it. This is also known as the point at which a part is deemed “beyond economical repair” (BER).
The fastest and most cost-effective way to repair equipment is by using replacement forklift parts, accessories, and more. Doing so lets you ensure your technicians have the parts and documentation to resolve the issue promptly and prevent production delays.
Advanced Engineering Expertise
The faster you respond to a breakdown, the lower your maintenance costs. This is especially true if your equipment users are trained to report faults or breakdowns quickly so an in-house team can respond and repair the broken machine.
Large facilities that rely on heavy machinery for productivity, such as industrial plants and aviation organizations, must have experienced engineers to fix equipment when it breaks down. These specialized engineers know how much each hour of downtime can cost your business in lost revenue.
However, it’s important to remember that replacing a piece of equipment takes time to purchase the replacement, wait for delivery and installation, train new personnel, and get production back online. Whether it’s better to repair or replace a heavy piece of machinery depends on what will save you the most money in the long run without jeopardizing quality, safety, and efficiency. This is where the 50 percent rule can be helpful, which states that you should only consider replacing a piece of equipment when it will cost more than half as much to repair.
Access to a Wide Range of Parts
The repair cycle of a supply system consists of functioning parts used by equipment operators and the sequence of suppliers or repair providers that replenish them with functional elements when consumed. In logistics engineering, this cycle may be analyzed using a model known as the Level Of Repair Analysis (LORA).
The ability to quickly replace a failed component is a key reason repairing equipment is so cost-effective. Purchasing new equipment requires a lot of capital and can result in significant downtime as a new machine is procured, shipped, and delivered to your facility.
In contrast, a service and maintenance team can quickly complete simple repairs. To speed up the process further, it’s worth investing in a comprehensive import parts program that gives warehouse distributors and jobbers access to various replacement components. This way, you can have the best parts to repair your equipment immediately.
Lower Maintenance Costs
When equipment breaks down, it can stop production and impact productivity. To avoid costly disruptions, companies need to make the best decision quickly. Repair or replace? This decision should be based on data analysis and considerations of both labor costs and replacement machine costs. Generally speaking, a decision to replace equipment should be made when repair costs exceed 50% of the price of a new machine.
Working with a vendor offering advanced engineering expertise can save companies time and money when repairing equipment. They can create custom parts that are more affordable than OEM replacements. And they can also be delivered in hours compared to weeks when you work with an OEM provider.
In addition to minimizing maintenance costs, this strategy can be used to upgrade old machinery with the latest technology. It’s also a great option to rebuild or repair an existing machine.