There’s never a bad time to save money on the operations and upkeep of your facilities. With that said, finding extra opportunities for savings is especially important when industry conditions are unpredictable and profit margins are tight. This is where proactive maintenance comes in. Companies only relying on reactive maintenance are leaving money on the table. Here are six causes of financial losses, each of which is less likely to occur with proactive maintenance:
1. Emergency Repair Costs
2. Lost Productivity Due to Downtime
Breakdowns due to unplanned downtime result in companies paying employees who are unable to do their work.
3. OSHA Fines and Penalties
OSHA inspections that finds dangerously degraded equipment come with thousand of dollars in costs.