$38 million in losses annually per one company! According to this study of offshore oil and gas organizations, that is how damaging unplanned downtime can be. For the worst performers, the negative financial impact can be upwards of $88 million. The longer it takes to repair the production line, restart the processes, the more it costs. It’s a snowball effect. Reducing the amount of time that people and machines idle is crucial for business success and profitability. There are plenty of opportunities available to manufacturers to help keep unexpected costs low. In one case, improved lubrication enabled an American manufacturer of high-quality animal nutrition for pet food to cut downtime by 50 percent.
That may sound easy and even boring, but equipment failure is rarely sudden. Most of the time, stoppages result from several factors adding up and reaching a point of no return. Regular monitoring will help detect the first signs of wear and tear, loose seals, lubricant leakage, or unusual noise that may ultimately cause a stoppage if left unchecked.
Knowing when, where, and how downtime occurs is essential to understand how to prevent it. Tracking the stoppage allows you to figure out why each instance happened. When you know that errors are causing most failures, you know what changes to make and what to prioritize in your efforts to prevent the next downtime.’
Proper storage practice is critical for reducing downtime. Water, dust, dirt, and excessive heat are all equipment enemies. It is also essential to maintain general standards of cleanliness around machinery. Taking care of the expensive components and protecting the equipment from the environmental elements are the keys to keeping it working longer.
Not every oil or grease is compatible with every piece of machinery. Seek advice from lubricant experts and equipment manufacturers to understand your machinery’s specifications and which type of lubricant is most compatible with keeping machine downtime to a minimum.
You get what you pay for. Cheap formulations will do their job; no argument there. But premium lubricants will do it better. They cost more because more R&D, lab, and field tests are behind the higher price tag. Especially when cutting-edge additives, like the ones based on the nanotechnology of IF-WS2, are present in their formulations. Nanoparticles of IF-WS2 extend the life of machinery and reduce the need for maintenance and oil changes. IF-WS2 particles protect the contacting surfaces at the molecular level, reduce friction, wear, lower operating temperatures, and decrease noise. The machinery works quieter and smoother. All of the above contributes to fewer stoppages, minimizing downtime.
After all, for most manufacturing plants, the amount spent on lubricant typically is less than 1-2% of a plant’s maintenance budget. However, the losses due to inadequate lubrication can eat up to 40% of the budget. That may amount to up to 20 times the lubricant’s cost. The key is to invest in premium products as these will lubricate well in any environment and condition, protect your equipment, prolong the drain intervals, and save energy.
NIS is the exclusive manufacturer of IF-WS2 based additives and fully formulated products. The nanotechnology of IF-WS2 is protected by dozens of international patents and has been proven in numerous lab and field trials. Claim your line of IF-WS2 Formulated Grease with our Private label program. The Turnkey from NIS: our unique nanotechnology, your brand name.