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flevyblog
The Flevy Blog covers Business Strategies, Business Theories, & Business Stories.
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Editor's Note: Take a look at our featured best practice, Total Productive Maintenance (TPM) (234-slide PowerPoint presentation). Total Productive Maintenance (TPM) is a comprehensive approach to equipment maintenance that aims to optimize equipment efficiency, reliability, and performance. It involves a holistic approach to maintenance, encompassing both the technical and the human aspects of equipment management. TPM is [read more]
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Regular maintenance can keep your business running smoothly and prevent any significant damage. You need to look after your business’ equipment – whether you use manufacturing machines or technological equipment. These days most businesses rely on technology for admin processes, customer service and advertising. If a machine crashes, the whole process can be disturbed, and you will be dealing with a much bigger problem.
Here are a few reasons why maintenance is an essential part of your business.
Tech equipment is expensive. Small problems with your devices can quickly deteriorate, and you will need to buy new equipment in the future. Regular maintenance checks can identify any problems early on so you can get them fixed and sorted. You can avoid expensive repairs and keep your devices in optimal condition.
There is nothing more frustrating than unplanned downtime. If a device breaks, it can interrupt your business processes and cause unplanned downtime. Tasks are delayed, money is lost, and you will have very high stress levels. For example, an engine hoist is an essential piece of equipment for automotive work, if this breaks you will most likely have to stop work for the day. Maintenance checks can identify these problems before the device breaks unexpectedly.
When devices start working inefficiently, they consume more energy and cost a lot more to operate. You fix these issues early on and keep your equipment at maximum efficiency.
Larger organisations tend to have an in-house team of technicians on standby. You need to provide proper training to this team so they can recognise and deal with issues properly. The right training can prevent unnecessary repairs and save you a lot of money down the line.
Cyberattacks are a major threat to modern-day businesses. Your software needs to be updated regularly, and your device needs to be functioning properly. A damaged device can be easier to access for cybercriminals. Your slightly broken laptop might be a weak link in your company’s cybersecurity system. Hackers can get into your system and access private data, bank details and investor information.
You need to schedule proactive and preventative maintenance checks regularly. You can reduce the number of inconvenient breakdowns and save money on repair costs. Do not wait for your machine to break down.
Your machines need to run effectively so your team can work productively. Issues with machines and equipment can slow down work processes and frustrate staff members.
Schedule your next company maintenance check today to avoid a hefty bill down the line.
You can download in-depth presentations on TPM and 100s of management topics from the FlevyPro Library. FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives.
For even more best practices available on Flevy, have a look at our top 100 lists:
These best practices are of the same as those leveraged by top-tier management consulting firms, like McKinsey, BCG, Bain, and Accenture. Improve the growth and efficiency of your organization by utilizing these best practice frameworks, templates, and tools. Most were developed by seasoned executives and consultants with over 20+ years of experience.
