Step into a factory and you will hear the clink, chug, hammer and bang of machinery and gear moving in constant harmony. A veritable needle in the works is enough to throw any smooth flowing operation completely out of sync. This is where factories depend on the replacement theory. With this theory one will be able to create a pattern of predicting when certain parts of machinery require replacements.
Such planning will also help you pre-determine costs thereby helping the floor manager to budget himself and be prudent in his monetary transaction for maintenance works. To help create a monthly budget for maintenance and replacement, those parts with a tendency to deteriorate faster can be checked periodically. This will include old lathe tool bits, belts used in machinery, heavy vehicles and trucks. If neglected, these items can lead to higher maintenance costs over a period of time.
One way to tackle such problems is to completely replace an old piece of equipment with a new one should it have crossed the stage of being serviceable economically. When you purchase a new piece of equipment, it compensates its cost of purchase with the reduced maintenance cost.
For the sake of understanding, a common replacement is where a fleet owner of trucks and cranes is unsure of when his vehicles need to be replaced. Trucks wear down with time and age and it is often not easy to determine when a complete replacement is in order. The longer the old truck is used, the more the cost of maintenance. If the owner fails to maintain it properly, he risks an impact on his business.
A good solution would be to use an equipment rental management system that helps in determining maintenance schedules. It will also be able to provide you with alternatives. This is something that the Ramco Equipment Rental Management Solution gives equipment rental providers. With this software one can maximize their return on investment by increasing equipment utilization. The solution which includes planned maintenance and real time equipment health tracking works at bringing down unplanned equipment downtime. This means that maintenance and replacement decisions can be made smoothly at the right time.