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10/22/2021

Retailers Can Reduce Maintenance Costs By Taking Care of Their Assets

Maintenance management can help retailers prepare equipment replacement beforehand.
Maintenance management can help retailers prepare equipment replacement beforehand.

As the world continues to be affected by the pandemic and more people are being vaccinated, lockdowns are being eased. As a result, many are seeing customers return a little closer to the “old normal.”

However, retailers must make the most out of the situation, as most of them have had quite a hard time as the physical shops were closed — not everyone had the opportunity to provide their products online. Retailers must ensure that they are reducing costs as much as possible in a meaningful way, and the main focus must be to reduce maintenance costs.

Let’s see how retailers can reduce costs with maintenance management of their assets, especially preventative maintenance.

Maintenance management helps run operations smoothly

Assets, pieces of equipment, machinery, etc., can all break down at a moment’s notice if not taken care of. This hampers operations as well as the customer experience at retail stores. Not only does customer satisfaction decline, but such breakdowns create bottlenecks as well as long queues.

[Related: Retaining the New Consumer Through the Power of Technology]

Ensuring maintenance management for the equipment, critical systems, and other assets such as HVAC systems, alarms, displays, etc., reduces unplanned machine downtime, prevents bottlenecks, and ensures that the operations are running without any hiccups — helping reduce maintenance costs in the process.

Maintenance management helps improve the life cycle of assets

As technology is rapidly evolving, it makes its way into mainstream usage, making processes more streamlined and easier than ever. However, using such pieces of equipment can be expensive at the beginning and so is replacing them.

Fortunately, these assets, with proper maintenance management, can be used for a longer period of time. By using the manufacturers’ and experts’ recommendations, the lifetime of assets can be extended with routine maintenance, replacing spare parts, and fixing them before they get damaged permanently — preventing replacements and reducing costs down the line.

Maintenance management helps make informed decisions

Replacing equipment, systems, and machinery when they malfunction is an extremely dated method and costs a lot of money. Maintenance management, on the other hand, can help retailers prepare beforehand.

For instance, when CMMS technology can help identify which pieces of equipment break down the most, which are the best performing ones, which require attention, what’s the progress, and so on. All of this helps the management allocate resources properly and plan for replacements beforehand, helping reduce maintenance costs.

Maintenance management helps improve collaboration

With proper maintenance management, vendors, technicians, the management, and everyone else can be on the same page regarding the planned downtime, parts replacement, or other activities. This helps reduce time lost on getting status updates, improve productivity, and reduce costs — time is money, after all!

Preventative maintenance, reducing unplanned machine downtime, and improving the longevity of assets can all benefit through CMMS technology. It helps everyone be on the same page, improve the customer experience, enhance productivity, and reduce interruptions.

In a post-pandemic world, retailers must work towards reducing costs as much as possible, something that can be done if the proper strategies are used.

Salman Rashid is a creative marketer at CloudApper, focusing on CloudApper CMMS.

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