Every organization has different criteria for replacement versus repair.
For example, one MPulse customer forecasts asset replacement when the cost of maintenance to date reaches 75% of the replacement cost. Another customer has different criteria for equipment based on its value to the production process, replacing assets that are vital to operations sooner than assets that have less of an impact.
And some maintenance operations still run assets until they break down and aren’t repairable anymore.
Why CMMS Software Makes It Easier
With each purchase and every work order, CMMS software documents...
- Labor costs
- Parts costs
- Energy costs
- Purchase price and date
- Life expectancy
- Warranty information
- Replacement costs
- Other custom data
By running a few simple reports, you’ll know which assets cost the least amount of money to maintain and repair. You also can calculate when the increased efficiencies of newer models will pay off in the long run.
CMMS data changes the way you make decisions because you have all the information at your fingertips to determine the total cost of ownership.
Want to know when it’s time to repair or replace an asset? Contact us. We’re here to help.