Equipment are the critical part of every business or industry. While many believe in the often quoted “if it isn’t broke, don’t fix it” the importance of regular maintenance cannot be stressed enough. Whether in construction, healthcare or other domains, a considerable amount is usually invested in equipment and lack of upkeep can affect the bottom line.
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Why invest in equipment maintenance?
As with everything else, an ounce of prevention is better than tons of cure when it comes to equipment maintenance as well! Preventive maintenance saves time, money and unnecessary hassles of reduced productivity due to sudden breakdowns or damages. Such unanticipated breakdowns or repairs end up costing more money than what is involved in regular maintenance.
As the years go by, equipment tend to experience wear and tear, besides minute damage depending on the type of equipment and nature of use. With every little damage, there could be reduced efficiency of performance, which in turn leads to reduction in productivity. Less than optimal productivity affects overall financial health of a business.
Keeping a maintenance log and following regular schedules in maintenance keeps the equipment running at their maximum efficiency while enabling completion of projects on time. This is obviously healthy for the bottom line.
Prevents snowball effect
Fixing problems on an ad-hoc basis, can only temporarily fix the problem. The damages can all add up in the long run with a snowball effect until it is too big to handle. In the long run, it can be very expensive to handle the major breakdowns or replacements that negate any benefits of ad-hoc fixing. The more complex the repair, the more the expense involved and loss in productivity or downtime.
Address safety issues
Workplace safety is a major concern for employers and employees alike. Both state and Federal regulations make it mandatory to ensure adequate safety of workers. With regular maintenance with a log, preemptive safety checks can be put in place to ensure workers’ safety at all times.
According to the US. Bureau of Labor, 17% of the accidents in construction sites are due to equipment or other objects at work place. Regular servicing can prevent such fatalities and injuries which in turn cost a lot of money in terms of settlements and insurance claims.
Well maintained equipment also has a great re-sale value. Detailed maintenance records of each piece of equipment will enable the buyer to review the reliability of the equipment, its performance and the cost of maintenance accurately. Knowing all aspects of the equipment in detail can boost the buyer’s confidence and help you get maximum money in a re-sale.
GoCodes Asset Management
GoCodes brings the most efficient way to manage assets with an equipment maintenance log. Customized QR codes for each equipment and its component along with free QR scanning app that you can download on your smartphone make it easy and convenient for asset tracking. Once every detail is logged in, you can view due dates for maintenance, what action was carried out and other important information.