What’s the single biggest cost factor in the typical industrial repair? Downtime, of course. Reducing the downtime it takes to perform the repair reduces the cost of the failure. Common “solutions” such as hassling people to hurry result in “failure bombs” instead of effective repairs.
For amazing cost reduction, try this experiment. Bring a repair tech and a stopwatch to a given piece of critical equipment. Identify a component that would be replaced during a repair. Then see how long it takes the tech to return with it. Walk with the tech to note where the time goes during this process.
Suppose it’s a 2A fuse for a 120V control circuit. Going clear across the plant to the stockroom, locating the fuse, checking it out, then walking back takes 14 minutes. But suppose you put the same fuse in a clear plastic bag (suitably labeled) and tape that to the control panel door. Now how long does it take to get that fuse? Time each component task and you could cut the repair time by a few thousand dollars.