One of the most underestimated aspects of equipment management is understanding the true cost of equipment repairs in construction. Beyond just the price tag of parts and labor, there are hidden costs that, if not properly tracked, can drain resources and hinder operations.
Did pulling this piece of equipment halt or slow down a project? What about the time it took to find a replacement? What was your crew doing during this time?
Let’s explore how equipment maintenance software can help contractors lower repair costs to save their construction businesses both money and time.
Construction equipment is your company’s biggest investment. When a machine breaks down, the effects go beyond repair costs.
Take the cost of a down machine for example. Equipment downtime stalls projects and can lead to penalties for missed deadlines. Workers and other machines dependent on the broken equipment may sit idle.
Additionally, unanticipated repairs disrupt budgets and force reallocations from other priorities. Reactive repairs can be more expensive and harder to plan for. If repair costs are not tracked and managed well, they can lead to serious problems.
Without data, it’s impossible to analyze and optimize processes or identify savings opportunities. Plus, replacing equipment prematurely or keeping it too long can lead to higher expenses over time.
Understanding the total cost of equipment repairs ensures you can make informed decisions about maintenance, replacements, and fleet optimization. But how can you understand the true cost of repairs without real data around all aspects of your construction equipment maintenance?
For Zefiro, a drilling contractor with high maintenance requirements, keeping up with preventative maintenance schedules and work orders was a challenge—as was tracking all the coinciding hours and parts.
The contractor’s general supervisor said, “Tenna allows us to make sure we do all our maintenance requests and keep track of the hours along with it. We save money in preventive maintenance. So, we’re able to get things on time and down the road parts aren’t breaking down as fast.”
Read more about how this contractor was able to track the cost of repairs with equipment maintenance software.
Comprehensive equipment maintenance software provides the foundation for accurately tracking repair costs. Here’s how it helps:
By using maintenance software in your equipment fleet, contractors can see where money is going, which helps construction businesses allocate resources better.
Preventative maintenance is the cornerstone of reducing repair costs. Reactive maintenance is significantly more expensive and disruptive. Having a preventative maintenance schedule ensures:
Tenna’s maintenance software automates preventative maintenance schedules, sends reminders and tracks completion to ensure no task slips through the cracks.
A well-organized and digital parts inventory system is essential for tracking and minimizing repair costs. If your team lacks the necessary parts when a breakdown occurs, you face delays and expedited shipping costs.
The costs associated with these parts as well as the delays and shipping need to be factored in when analyzing the true cost of equipment repairs.
Tenna’s parts inventory management system offers:
Efficient parts management ensures that your team is equipped to handle repairs and ensures your cost center can keep track of trends over time with accurate parts data.
Not to mention, a parts request program like Tenna’s that provides visibility into in-stock inventory across locations saves time for field mechanics performing repairs and maintenance on the jobsite.
Labor is another significant component of repair costs. Without proper tracking, it’s easy to underestimate how much mechanic time contributes to your overall expenses. Using mechanic time tracking tools, like those integrated into Tenna’s platform, you can:
Transparent labor tracking gives you a detailed view of one of your largest repair cost factors. Additionally, the time associated with project delays and downtime as well as unnecessary diagnostic and service trips can be better tracked and even reduced by being proactive with maintenance management.
Understanding the true cost of equipment repairs is essential for construction businesses looking to maximize profitability and efficiency. By leveraging tools like Tenna’s equipment maintenance software, you gain the insights needed to reduce costs, extend equipment life, and improve overall operations.
Don’t let hidden repair costs derail your projects or your budget. Invest in the right tools and processes today to stay ahead of the curve. Check out Tenna’s blog to learn more ways technology can solve equipment maintenance challenges or contact us.