How Various Solutions & Upgrades Are Limiting The Hidden Costs Of Poor Lubrication
As many industrial organizations have come to realize, while the cost of oil per barrel or container may be considered low, the truth is there is a lot more that goes into making the oil work for their organization. Various costs such as labor and disposal contribute more to the overall cost of that oil. These costs, known as hidden costs, will be broken down in detail throughout this post. This post will also provide an analysis of the types of ways your organization can hope to avoid these additional costs.
Every organization’s operations are at the mercy of their machinery. Sub-optimized machinery can result in an organization incurring additional costs that could otherwise be avoided entirely. The most sound way to ensure an organization’s machinery is operating appropriately is through maintenance, specifically proper lubrication and completing regular oil changes. Sounds easier than it is in practice, as even the most seasoned businesses can incur additional costs throughout the process. This post will include a closer look at the hidden costs of mismanaged lubrication in industrial settings.
Not only can it impact the success of a business, it can also result in additional costs needing to be covered. For example, unnecessary oil changes. Many businesses believe their machines’ problems can all be solved from an oil change. Unfortunately, this isn’t true. Not only do these organizations have to then pay for the oil change, but they’ll also be responsible for the spend necessary to solve the problem.
Though they may not seem hidden, damage costs are often extremely expensive for organizations to resolve. Often times these damages are related to over or under-filling the sump or reservoir, introducing contaminated or incorrect product and even cross threading a drain plug. The true hidden costs of this damage come in the form maintenance and subsequent downtime. In addition, these costs can also rack up administrative purchasing costs, storage, handling and testing costs for an organization.
This damage and inefficiency can also lead to equipment failure in the worst cases. This is why it’s so important for organizations to be prepared for these instances. Most equipment failure can be attributed to bearing malfunctions, nearly half of all reported failure in fact. The replacements necessary to prevent this failure are expensive and can be proven useless if a machine is non-operational.
Being prepared for unforeseen damages or mistakes can be impossible for organizations. Despite their best efforts, there are still instances where they may have to face the costs associated with these mistakes. For more information on how your organization can stay prepared in fending off against these costs, such as preventive solutions or machine upgrades, be sure to continue reading on to the infographic coupled alongside this post. Courtesy of Isomag.