{"id":2134,"date":"2024-05-01T19:30:00","date_gmt":"2024-05-01T19:30:00","guid":{"rendered":"https:\/\/mpulse.cloud.fruitionqa.com\/resource\/top-3-signs-you-need-life-cycle-analysis\/"},"modified":"2024-11-19T23:54:02","modified_gmt":"2024-11-19T23:54:02","slug":"life-cycle-analysis","status":"publish","type":"resource","link":"https:\/\/mpulsesoftware.com\/resource\/life-cycle-analysis\/","title":{"rendered":"Top 3 Signs You Need Life-Cycle Analysis"},"content":{"rendered":"<p>Your Computerized Maintenance Management System (CMMS) should be an investment that pays out over time. You may already know many ways a CMMS saves time<br \/>\nand money: tracking parts inventory, reducing errors, and keeping production lines running and facilities open. But there\u2019s an aspect of asset management often<br \/>\nleft unaddressed when buying a CMMS. It\u2019s called Life Cycle Analysis (LCA).<\/p>\n<p>Accurate LCA data determines when you should repair an asset, and when you should replace it, altogether. It\u2019s a simple concept that can save your company thousands of dollars.<\/p>\n<p>How? LCA considers expenditures for purchase, repair and operations, including\u2026<\/p>\n<ul>\n<li>Initial purchase price<\/li>\n<li>Installation costs<\/li>\n<li>Energy consumption<\/li>\n<li>Repair &amp; maintenance<\/li>\n<\/ul>\n<p>Take a look at the top 3 signs you should be conducting LCA&#8230;<\/p>\n<h2>1. These questions have a familiar ring.<\/h2>\n<ul>\n<li>\u201cHow many times has this machine failed in the past year?\u201d<\/li>\n<li>\u201cHow much have we spent on repair costs for this machine?\u201d<\/li>\n<li>\u201cWhat\u2019s the cost of the power used to run this machine?\u201d<\/li>\n<\/ul>\n<p>Managers depend on answers to these questions while evaluating assets. You may have even asked your own employees to accumulate this data. If so, chances are it took significant time for them to get back to you.<\/p>\n<p>Imagine having your questions answered by data that accumulates automatically and can be easily accessed by the right people.<\/p>\n<h2>2. When your team decides what equipment to replace, decisions are based mainly on the age of an asset.<\/h2>\n<p>Your oldest machine might be costing you the least amount of money in repairs\u2014but you\u2019ll only know if the data is there.\u00a0<span style=\"line-height: 1.6em;\">If you choose a vendor with a CMMS tailored specifically to your company\u2019s needs, you\u2019ll have the right data, at the ready. <\/span><\/p>\n<p><span style=\"line-height: 1.6em;\">With the right analysis, you can proactively make decisions on what to replace, and when.<\/span><\/p>\n<h2>3. It seems the machines you saved money buying are really costing you now.<\/h2>\n<p>There are great deals to be had on used equipment\u2014and sometimes they pay off. On the other hand, it can be a challenge to gauge the longevity of a piece of machinery that\u2019s purchased used. Outdated machinery can easily cost more than it\u2019s worth.<\/p>\n<p>To know when it\u2019s costing your company, you\u2019ve got to see the numbers. LCA protects your company from replacing old machinery that\u2019s still valuable, and from pouring money into repairing a machine that just isn\u2019t running.<\/p>\n<h2>Curious about how much money LCA can save your company?<\/h2>\n<p>Look for a CMMS vendor whose software has these key features:<\/p>\n<ul>\n<li>Records purchase price and purchase date.<\/li>\n<li>Accrues all costs at the asset level.<\/li>\n<li>Provides asset-level reporting, with the ability to include\/exclude specific cost categories like labor, parts, energy and more.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/mpulsesoftware.com\/contact\/\">Ask MPulse<\/a> about Life-Cycle Analysis features and discover how much LCA can save your company.<\/p>\n","protected":false},"featured_media":2135,"template":"","meta":{"content-type":""},"topic":[32,36],"resource_type":[47],"class_list":["post-2134","resource","type-resource","status-publish","has-post-thumbnail","hentry","topic-finding-the-right-solution","topic-maintenance-best-practices","resource_type-short-articles"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Top 3 Signs You Need Life-Cycle Analysis | MPulse Software<\/title>\n<meta name=\"description\" content=\"Accurate life-cycle analysis helps you determine when an asset needs repair or replacement, which can minimize downtime and reduce risk.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mpulsesoftware.com\/resource\/life-cycle-analysis\/\" \/>\n<meta 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