Preventive maintenance may increase the frequency of service center expenses, but it averts potentially high costs you would incur if you didn't incorporate it into your fleet management. According to research, preventive maintenance saves companies between 12-18% in maintenance costs.
As such, it's an important element of effective fleet management. It includes maintenance services such as adjustments, lubrication, replacing worn parts, and general safety inspections. While these may appear as elective expenses, they're far more cost-effective than having to deal with more significant fixes, like doing a complete engine overhaul for failing to change oil regularly.
For most companies, preventive maintenance is based on parameters such as mileage, gallons of fuel used, or engine hours, which can be tracked easily with the help of preventive maintenance software. Using the software is beneficial in multiple ways, including getting scheduled service reminders, inspection results, and fleet reports and aiding inventory and parts management.
In this post, we discuss seven ways preventive maintenance can help save your company money.
1. Reduced Down Time
Without preventive maintenance, vehicles are more prone to roadside breakdowns. It could also mean extensive repairs that take more time. Vehicle downtime can lead to delayed and missed deliveries, which could translate into losses. The company also loses the money you would make while the vehicles are out on the road.
An effective preventive maintenance program saves your company the money you would lose due to frequent downtime.
2. Improved Productivity
Preventive maintenance increases vehicle reliability, which helps maintain productivity. It also identifies potential problems, ensuring prompt fixing, which keeps the vehicle in optimal condition. Moreover, increased vehicle safety boosts the driver's comfort and morale, leading to improved productivity. High driver productivity contributes to job engagement and retention and reduces costs associated with absenteeism and high staff turnover.
3. Extended Vehicle Life
Proper vehicle maintenance can extend its lifespan significantly. It helps identify minor problems before they become major issues, which helps keep the vehicle in optimal condition for a longer time. This saves the company the cost of frequent vehicle replacement, which can be substantial.
4. Minimal Roadside Maintenance Costs
Perhaps the most obvious consequence of failing to conduct preventive maintenance is the increased risk of roadside breakdowns. You remain blind to most preventable issues, meaning the vehicle can break down when you least expect it. Unfortunately, roadside repairs are costlier than shop maintenance. The providers have to travel to the site where the vehicle is, which adds up to the charges you pay for the service.
With preventive maintenance, you can reduce the risk of these incidents significantly and cut down costs.
5. Lower Repair Costs
In addition to minimizing roadside maintenance expenses, preventive maintenance generally lowers repair costs. While it might increase the number of service center costs on your balance sheet, it helps keep the vehicle in optimal condition and identifies minor problems, which would translate to substantial expenses if left to worsen.
6. Improved Fuel Savings
Preventive maintenance ensures the vehicles are running optimally, which leads to increased fuel efficiency. Adjustments, lubrication, etc., are all essential services that significantly impact vehicle performance, hence fuel efficiency.
7. Reduced Accidents
Preventive maintenance identifies mechanical issues that could contribute to accidents. Accidents can be costly to companies in terms of legal fees and compensation, especially if it turns out the accident was due to your neglecting to perform regular maintenance.
At Wilmar Inc., we understand how maintaining an effective preventive maintenance program can improve operational efficiency, save costs, and provide peace of mind. We offer a range of fleet maintenance services, including fleet maintenance and repair. Whether you run a fleet of cars or light, medium, or heavy trucks, we can customize an ideal solution for you. Contact us today, and let us know how we can help.
