6 Maintenance Cost Reduction Strategies You Must Follow

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Reducing operational and maintenance costs has always been a major concern for business enterprises and organizations around the globe. No matter how small or big an enterprise is, increasing operational and maintenance costs is always a major business challenge to be dealt with.

Cost Reducing Maintenance Management Strategies

Maintenance costs can quickly affect your income reports if not taken care at the first step. So if your business facility is facing a tough time with increasing maintenance and repair costs, you need to work on an effective strategy that starts from the base.

QuickFMS shares 6 maintenance cost reduction strategies you must follow:

# 1 Learn How to Care The first and foremost step that you should take is, teach and train your employees, workers and staff on how to operate and handle various machines and technical equipment, being used at your business facility. It is always advisable to organize a quick training session for the employees after installing any new hardware component or technical equipment in the organization.

# 2 Understand The Need of Optimization Learn how to properly optimize the utilization of various machines and technical equipments installed at your business facility. Using any equipment more than the advised capacity can reduce its lifecycle, and the need for maintenance arises at shorter intervals. Don’t put extra burden on any machine or hardware component, else it would get out of order and would need costly repairs.

# 3 Regular Maintenance Every machine and technical equipment needs proper care and maintenance at regular intervals. Hence, it is advisable to not miss the maintenance schedule for any machine or equipment. Also, you must leave the maintenance and repair works with the professionals, as they are the ones who you are trained for carrying out the maintenance jobs.

# 4 Buy Extended Warranties/Insurance While buying any new machine or hardware component, you should always ask for extended warranty schemes or insurance plans, which would allow you to save huge on maintenance and repair costs. However, you must analyze and find out which machine or hardware component actually needs to be insured. Buying an extended warranty package is again a better option for heavy and costly machinery, as their spare parts are extremely expensive.

# 5 Identify Potential Threats Tell your employees, staff and non-maintenance personnel to keep their senses open, and identify all potential threats to your IT infrastructure or hardware components. For example, an unusual sound from a machine could just be a beginning of a big failure or breakdown. Identifying the potential threats and repairing them at the initial level would allow you to save huge on hefty repair costs, which you have to bear later.

# 6 Leverage Technology Last but not the least; you must leverage technology to reduce maintenance costs significantly. Make sure that your business facility is using the right tools and software for your needs. Investing in a facility management software is always a right step, as it would empower your business facilities to efficiently manage the maintenance tasks without interrupting the day-to-day business workflow.

Amit Prasad is the founder and managing director of SatNav Technologies and has business interests in a wide range of IT products. SatNav Technologies is an IT products company focusing on cloud based map data products and a pioneer in GPS, FMS & LBS Technologies. The product suite includes SatTracx in-the-field location based solutions and A-mantra in-the-office facilities management solutions. QuickFMS from a-mantra is a cloud based facility management system which enhances organization’s efficiency.
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