What is preventative maintenance, and how does it minimise loss

Organisational loss is something we all strive to keep to a minimum, combing through expense reports and budgets, but an area that can often be overlooked is the losses we incur on ourselves through poorly maintained equipment.

Prior studies show that up to 80% of industrial facilities are unable to quantify the cost of failure and downtime, whilst a significant portion of companies are underestimating their total cost of downtime by a factor 200 –300%.

Two types of downtime contribute to production and organisational loss: planned and unplanned. Planned downtime involves pre-arranged maintenance activities that are scheduled at optimal times to minimise operation loss. Unplanned downtime involves equipment failure and poses organisational risk. In most occasions, equipment breakdown is contributed by either single component failure or failures between components. These factors can be reduced.

Preventative Maintenance saves you money and saves you time. MEX Maintenance Software can be used to reduce costs, create a safer workplace and to effectively monitor the state of machinery to avoid any downtime. 

Download our whitepaper and learn about how preventative maintenance can reduce organisational loss and how MEX can help achieve this.