3 Ways Preventative maintenance can reduce cost
Preventative maintenance (PM) is an extremely effective tool which can be implemented throughout your engineering department and help to significantly improve both the financial and operational performance of your business.
Through this style of maintenance, companies are afforded the ability to take proactive measures to reduce the chance of future mechanical issues occurring and, as a result, increase the overall uptime of an ATM estate.
Here are three ways preventative maintenance can save your company money:
1. Customer satisfaction
The performance service contracts within the industry are measured on overall uptime of ATMs. Reducing the time these machines are out of service naturally has positive repercussions on your customers and the end user.
Improving uptime will consequently assist in retaining existing customers and securing additional work in the future as your business becomes increasingly competitive.
2. Fewer engineer call outs
By increasing the uptime of ATMs, engineers will be required to complete fewer call outs due to the increased reliability of the estate.
This is not only beneficial from customer satisfaction and service level stand points but also helps in reducing travel-related overheads as well as other expenses associated with reactive call outs.
With the time saved, engineers can now complete additional paid contract work as well as administration and other duties.
Reducing the time spent on reactive calls allows you to adopt a more strategic approach and take more control over the fluctuations in engineer workloads.
3. Reduced inventory
Due to the decreased frequency of reactive work required, your business will need to hold fewer parts in your inventory in order to fulfil service level agreements.
This provides you with the benefit of saving space in your warehouses and you may even be able to save money by downsizing your storage facilities altogether.
In addition, inventory obsolescence can be avoided more effectively as you will find fewer parts becoming redundant.
With a reduced inventory requirement, you will also decrease associated logistics costs such as same day delivery couriers.
These are just a small selection of the many benefits to utilising preventative maintenance in your organisation. PM will help not only in saving your business money, but also by adding value and differentiating yourself from the competition.
TestLink is a leading provider of process optimisation services for ATM organisations including inventory management, parts supply and engineer training.
Find out how TestLink can help your company by contacting us.