In short, choosing planned preventative maintenance (PPM) for your business can help you reach a stronger bottom line by saving costs and eliminating profit losses.
While you can learn about available PPM options on the vendor’s website, let’s discuss here why PPM is a cost-saving practice and how it can help you eliminate profit losses.
Why PPM is a cost-saving practice
The cost-saving effect of planned preventative maintenance lies in its ability to prevent minor issues from escalating and turning into emergencies. To clarify, during a PPM visit, your vendor undertakes a full assessment of the units included in the PPM contract. As a result, you can have issues detected and fixed before they turn into major failures and emergencies.
In other words, timely detection and repair will help you save costs:
- Timely cleaning, lubricating, and tuning result in fewer failures
- If repairs, no emergency repair rates (which are higher than standard ones)
- No overpaying for urgent part delivery (you have time to wait for a standard one)
- Lower repair rates (most PPM vendors offer discounts as extra benefit from a PPM contract)
How PPM can help you eliminate profit losses
Now imagine you didn’t service your equipment properly and in a timely manner. Therefore, possible issues weren’t detected and repaired in time but turned into an emergency.
Beyond the immediate repair costs, an emergency triggers a damaging sequence for your business:
- Broken equipment reduces your service capacity (partially or even totally)
- You lose your profit now because you cannot serve customers as intended
- These unserved customers turn their loyalty to your competitors, and you will face profit loss in future
Instead, with a PPM contract, you will benefit with lower emergency risks, continue servicing your customers and enjoying their loyalty, which translates directly into your revenue.
To sum up, when choosing PPM for your business, you adopt a highly cost-effective practice that helps you protect your business from high expenditures on repairs and possible profit losses (now and in the future) due to emergencies.