Most of manufacturing companies conduct several projects and studies on reducing unit costs and gain sustainable advantage in competition in order to exceed its existing situation to an upper level. But it is not enough to just make a…
Hidden maintenance costs refer to expenses incurred due to unforeseen failures, downtime, and productivity losses resulting from inadequate maintenance practices or deferred repairs.
Maintenance costs may include labor expenses, spare parts, equipment servicing, training, and downtime-related losses, impacting operational efficiency and profitability.
Maintenance costs encompass preventive, predictive, and corrective measures to ensure equipment reliability, performance, and longevity, directly influencing overall operational expenses.
Neglecting maintenance can lead to increased breakdowns, repair expenses, production delays, safety risks, and reduced asset lifespan, resulting in higher operational costs and revenue losses.
Examples include routine inspections, lubrication, equipment overhauls, component replacements, system upgrades, and technician wages, all essential for sustaining asset reliability and performance.
