74 Tips for Reducing Equipment Costs

The average heavy highway construction firm has 25 to 30 percent waste in its maintenance or shop costs, says Preston Ingalls, president of TBR Strategies. Whether times are good or bad, these percentages alone make reducing equipment costs critical to your overall company health. In this paper, Ingalls outlines several ways you can address the hidden costs in your fleet, and send your savings right to the bottom line.

In this report, you’ll get tips like:

Know the impact of why you should reduce costs.
The average heavy highway construction firm has 25 to 30 percent waste in their maintenance or shop costs. Most shops are far from models of excellence and efficiency. Remember: the money you save goes straight to the bottom line.

Set a goal.
Develop a series of objectives to improve your costs. For example, your overall goal might be “reduce our maintenance costs as a percent of revenue by 10 percent by January.” Then establish sub-goals, such as “reduce overtime by 10 percent” or “increase inventory turns by 20 percent.” You may have to adjust the goals as you go along. If you focus on the right areas, improvement will come.

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