Businesses have their ups and downs. When there are a lot of sales occurring that is peak season & everyone is busy. However, that time also comes when employees do not have much work and machines are also free. During the peak seasons machines runs continuously and in off-season organizations get the time for an opportunity to streamline business equipment maintenance.
The off-season is the time that must be utilized for equipment maintenance & other activities, especially for the manufacturing industry. During this time, you can work-out your plans for improving daily operations, to keep your equipment in the best shape.
Here are a few business equipment maintenance tips that you can implement during the slow business time!
Analyze Equipment Performance
Equipment performance is very important can be very critical. According to Statista,
“The statistic shows the average hourly cost of critical server outages, according to a 2019 survey. In 2019, 25 percent of respondents worldwide reported the average hourly downtime cost of their servers as being between 301,000 and 400,000 U.S. dollars.”
We know equipment performance is very critical when you’re into any kind of business. Everyone knows business booms in the festive season, and nobody wants to waste time by implementing maintenance in that duration.
When business is slow, the worker’s enthusiasm might be low, they might feel demotivated as well. However, it provides the opportunity to implement your maintenance plan that you have been delaying for a long time.
The first thing you need to do is check all reports and analyze them to see every asset and equipment is in order. Then, you need to check key performance indicators specifically for costly assets.
For example, how many times maintenance is provided to the equipment, was it just regular maintenance, or did unexpected machine failure occur! Calculate the total amount of maintenance expenses done on assets.
After that, you can categorize your business equipment as per their performance and replace them if their working life is over or consuming too much maintenance.
Detect Maintenance Problems
Assets breakdown occurs, it is usual! But when it happens frequently then it’s an! This issue needs to be fixed permanently. Sometimes managers do not have time to look deeply into the issue they just quickly resolve the issue so that that operation keeps running.
However, during the off-season time managers get the time to analyze and resolve the issue once and for all or at least for a long time. With effective maintenance management software, you can see the maintenance history of each asset. Through which you will idea about how frequently the asset is taking maintenance.
An experienced manager can analyze data closely to detect what can be the potential maintenance issue. For example, breakdown occurs again and again then it can be the employee’s fault because he does not know how to run that machine or proper training is not given about the machine.
If training is not provided to employees, then changing or replacing machines will not solve the issue. To reduce asset failure, employee training must be provided & organizations must invest in implementing preventive maintenance strategies.
Construction-based organizations send their equipment from one location to another as per the requirement. However, mostly asset loss & misplacement occurs in this time specifically.
The construction industry has very tight schedules but in off-season time, they can get collect back all the assets & send them back to their original places or where these assets are supposed to be. Furthermore, you can conduct a complete audit of assets and inventory.
When you conduct an audit, you will know which asset is located at which location the same goes for inventory. You will know how much inventory is left.
You can return it if you found assets that are no longer useful to your organization. By returning and selling these items you will get some funds.
Through the asset auditing process, you will get to know the worth value of your assets. Moreover, you can clean your accounts by eliminating ghost assets, retiring assets whose life is over. An effective audit will help your business in the long run!
Prepare for Frequent Work
When the festive season is near all industries become active. Business booms again & everyone gets busy with their work.
However, business processing and operation shall be optimized, and collaboration with other teams shall be done efficiently. New business strategies can be tested, improvisation shall be done.
For example, the data must be accessed by everyone with cloud technology so that everyone knows what is happening. This way work can be done more effectively.
Furthermore, now when your organization generates income start investing in the new machine, and calibration management can be done.
Every organization has some fluctuations the whole year some time business grows and sometimes it slow. Therefore, organizations must maintain a balance between these situations.
Hence, the best thing they can do is keep a sharp eye on business equipment maintenance expenses because asset maintenance can be an icebreaker specifically when business is slow.
Furthermore, organizations must implement proactive maintenance. They will start noticing the benefits of proactive (preventive and predictive) maintenance in the long term.
Asset management software can provide you with several benefits as this software specializes in maintenance & tracking assets. It is fruitful for businesses related to any industry. This software also helps in depreciation tracking, maintenance history tracking, reports and analytics, cost expenses. Overall, it automates tasks and minimizes complexity.
Frequently Asked Questions
A downtime is an event where the machine stops working unexpectedly. Due to the lack of maintenance machine failure occurs and leads to downtime. When this event occurs daily operation hinders, production-work stops, time is wasted and worker’s productivity also suffers. Overall, an organization’s productivity is killed.
Giving proper training to employees is very important! When employees will know how to operate machines efficiently, they will know when the machine needs a break, etc. The chances of breakdown will be minimized.
The most important tip is understanding the asset life cycle when you know your asset life you will be able to estimate for how long an asset can be used and when it needs to be disposed of.
For effective business equipment maintenance, you can rely on asset management software that can provide details about each asset. As a result, you do not have to remember annually about your asset maintenance as this software does it for you!