Organizations are searching for a better way to manage maintenance costs. As discrete and process industries investigate how to gain a competitive edge, many are turning towards Computerized Maintenance Management Software / Enterprise Asset Management (CMMS / EAM) solutions for storing their valuable maintenance information. Keeping track of business data is a high priority and determining your cost of maintenance helps get started with the big picture in mind.
Zoning in on expensive and reactive practices influences long-term improvements. When operations are able to increase uptime and properly balance spare parts inventories, significant time and money is saved.
Better Buys has developed a quick visual guide for calculating the return on investment (ROI) for buying a maintenance solution when weighing it against these expensive daily costs. See the graphic below for the ROI of CMMS: