Recent Study Says Downtime Costs More Than You Think |
(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)
Lovejoy, Inc.
2655 Wisconsin Ave.
Downers Grove, IL, 60515 4243
USA
Press release date: March 5, 2008
Lovejoy parts reduce or eliminate downtime
Downers Grove, IL-March 5, 2008-What's the true cost of downtime? Recent study results say it's more than most companies think. Knowing this, Lovejoy shows companies how the right parts and equipment significantly reduce downtime - in some cases, paying for themselves rather quickly.
The "True Downtime Cost" study, conducted by downtime expert and engineer Don Fitchett, points out that most companies fail to accurately calculate all costs. For example, when considering labor costs, many companies only figure hourly wages, but they should add in insurance, retirement, training, admin, etc. This can double the simple hourly wage costs.
At Granite Construction Company's Swan Plant in Tucson, Ariz., officials learned the true cost of downtime first hand. This busy site produces a wide variety of products, from aggregate to golf-course sand to hot mix asphalt to asphalt rubber binder.
The stress and vibration from heavy loads on the company's shaker screens were causing equipment damage and frequent costly maintenance. V-belts were slipping, rolling over, and breaking on single and triple deck shaker screens at the wash plant and in the crushing circuit. The site was also losing sheaves due to wear and tear caused by displaced belts.
The company was replacing these v-belts and sheaves three times a month, to the tune of $240 for parts and at least $500 per month in lost time and labor. The annual grand total for downtime and repair costs came in at about $9,000.When downtime caused late delivery, the financial costs were compounded by the potential for damaged customer relations.
The Lovejoy sales representative met with company officials to assess the situation. Lovejoy recommended installation of its ROSTA MB50x200 Motorbase on each of the drives to eliminate the slippage at startup and help maintain an even flow of material under high-load stress.
The self-adjusting ROSTA Motorbase keeps an even tension on belts during startup and under high-load conditions. This eliminates belt slippage and rollover, drastically reducing the level of vibration that stems from motor operations.
In the nine months that Lovejoy monitored the installation, there was no downtime cause by worn-out belts or sheaves on the machinery. The motorbase paid for itself in two months. As always, Lovejoy promised a full guarantee. However, Granite Construction was so happy with the results, that it ordered three more ROSTA Motorbases during the first 30 days.
Downtime expert Fitchett said, "In these times of economic turmoil, it is ever more important to look at the 'True Downtime Cost'...not only to see the greatest opportunity, but to profit from the valuable insight this methodology will bring." The ROSTA Motorbase is only one of Lovejoy's many solution-engineered products. Lovejoy Inc. is the country's leading designer and producer of couplings and engineered power-transmission solutions.
About Lovejoy, Inc.
Lovejoy, Inc. is the world's premier supplier of shaft couplings and other power transmission components. With the largest product selection in the industry, extensive expertise in coupling knowledge, engineering and custom designs, Lovejoy offers optimal solutions for their customer's applications. To learn more about Lovejoy's complete line of couplings and ROSTA products, visit their Web site at www.lovejoy-inc.com, email inquiries to info@lovejoy-inc.com, or call the corporate office at 630-852-0500.
Lovejoy, Inc. is certified under the ISO-9001:2000 International Standards for Quality Management. Lovejoy, Inc., World Headquarters offices are at 2655 Wisconsin Ave., Downers Grove, IL 60515, USA.
To read more on the study, visit www.downtimecentral.com.
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