Investments for lower-valued assets
Is it worth the money spent?
There are several aspects to take into account when deciding on investing in lower valued assets.
How do I justify investment for lower valued assets?
As soon as the lifecycle cost for inspections exceed the replacement cost of a lower valued asset – which is something the calculation tool will show - one could argue to run that asset to failure, maybe even have a spare on hand and ‘cross that bridge when we get there’. While that theory makes financial sense, it does not give you the uptime you are looking for and there still is cost of inventory, and cost of downtime to be considered. An inexpensive early-detection sensor, with an LED indicator that will light up to trigger you to action, is the way to go. If the light turns red, an Optimization visit by a GBS expert can be scheduled and his expertise will shed light on a path forward so that the asset still can be saved and affordable maintenance or repair can be planned. As likely parts availability is good, a later notice is sufficient and trending less relevant. This is a bold statement and just a rule of thumb, so please let us know if you would like to discuss this with us – we are interested in your feedback.