Look Beyond the Obvious vchal/iStock/Thinkstock

Look Beyond the Obvious

Think about the cost of production loss so you know when to spend more time ensuring the repair solves the failure cause.

Suppose a 10-hp motor fails. This doesn’t sound like a big deal. A 10-hp motor is relatively inexpensive. So you replace it. But suppose that motor is critical to a production bottleneck that produces $650,000/hr of revenue. Now that 10-hp motor failure sounds like a big deal.

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