Machinery Lubrication

Machinery Lubrication September-October 2019

Machinery Lubrication magazine published by Noria Corporation

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Page 52 of 70

There is a widely held belief among s a l e s p e o p l e a n d c u s t o m e r - s e r v i c e professionals that it's easier to maintain a customer than it is to fi nd a new one. Data backs this up, revealing that the process of acquiring a new client can cost as much as 25 times more than investing the same time and resources in keeping an existing customer. Most research shows that a much smaller investment in maintaining customers can yield even greater results, with as little as a 5 percent increase in spending on existing customers resulting in nearly double the profi ts. is also holds true for lubri- cation practices. It's far better to wisely invest your time and resources in existing equipment than it is to just swap out "bad" machines for new ones. e key lies in how you approach maintaining and operating the equipment. Simply throwing more money at the existing problems won't necessarily help. You need to view improving machinery life holistically. e three main cost areas most organizations consider are parts, labor and downtime. Everyone budgets these items, but ultimately they are all reactive measurements. e true cost can only be seen after the maintenance events have already occurred. However, there are ways to project or estimate how the changes made in your procedures and equip- ment while driving your lubrication program toward excellence will impact overall profi tability. As seen in the chart on the next page, it can be conservatively How Lubrication Excellence Can Make Your Plant More Cost-Eff ective and Productive "Place your plant on a path toward lubrication excellence and watch it become one of the most cost-eff ective parts of your organization." Lubrication Programs Daniel Rader | Noria Corporation BACK PAGE BASICS 48 | September - October 2019 | www .

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