Are you aware of what your equipment ownership and operating costs are?
Every contractor's considerations are calculated differently to include various expenses, but your equipment is one of your highest costs in business.
How can you figure out your specific cost of ownership so that you can ensure that you are making the best choices for your operation? Let's take a look at some key factors to use to determine your TCO.
What equipment do you own?
When it comes to cost analysis, it's important to know what you have and what its capabilities are.
What (if any) equipment management software are you using?
Equipment management software is key to helping you optimize the machine(s) that you have, providing the important facts that will help determine how you use and care for the machine.
How often & how hard are your machines being used?
Monitoring machine use and using the data produced from telematics will help you make important adjustments and decisions that will ultimately help increase your uptime.
How are you maintaining your machines? What are you using to determine the schedule of repairs and preventative maintenance?
When you are able to effectively manage routine maintenance and repairs you will see a higher ROI along with keeping the machines reliable and improving performance and lifespan. Features of equipment management software help you understand and keep the equipment maintenance on track avoiding unplanned downtime which in turn affects your bottom line.
How fuel efficient is your machine?
Telematics are a great way to track fuel utilization of your equipment. This enables you to keep tabs on consumption and idling behaviors, and to be aware of any fuel theft which can cause TCO to rise.
What is your equipment bringing in?
Overall, good project management is going to entail knowing the earning capabilities of the equipment and being able to maximize income based on that information.
Are you making sure it's safe?
Inspections before and after shifts are a huge tool in avoiding accidents which are costly to any operation. Make sure your machines are inspected and any issues are resolved to keep operations at optimal levels.
How Can Volvo Construction Equipment Help?
Volvo Construction Equipment offers key features to help you keep your ownership and operating costs down. VCE excavators are built with nine setting within four work modes allowing power and control to be in the operator's hands when determining what's needed for the job.
With the utilization of Dig Assist, operators can see, in real-time, how to handle various site profiles accurately reducing wasted man hours.
VCE Crawler Excavators come standard with a lifetime boom, arm and frame warranty as well as fuel efficiency guarantee.
VCE telematics are second to none with easy to understand alerts and information for resolutions saving time and money.
Bottom line: When you consider your purchase cost, fuel consumption, repairs & maintenance coupled with the many other factors that will drive the cost of ownership up, you'll find Volvo Construction Equipment truly cares about your TCO and has gone the extra mile to ensure their equipment owners get the best possible value with quality products and key features ensuring overall success for their businesses!
Let us help get you in the cab of one of the industry's best! Contact our team today!