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Guide
Downtime Cost Calculator Guide
A general guide to get you started with the Downtime Cost Calculator for Fleet Vehicles and explore some use cases
A Step-by-Step Guide to the Downtime Calculator
The calculator likely prompts you to enter these values to calculate the following:
- Total Annual PMs per Vehicle: This indicates how many PM services each vehicle requires in a year based on the chosen interval.
- PM Cost per Vehicle: This multiplies the cost per PM by the annual PM frequency, providing the total PM expense per vehicle annually.
- Total Fleet PM Cost: This multiplies the PM cost per vehicle by the number of vehicles, giving the total annual PM cost for your entire fleet.
- Revenue Lost Due to PM: This considers the average revenue generated per vehicle and the PM duration to estimate the revenue lost while each vehicle undergoes maintenance.
What Factors Does the Downtime Calculator Consider?
This calculator helps fleet managers estimate the financial impact of preventive maintenance (PM) on their operations. It considers various factors that influence downtime costs, including:
- Maintenance Frequency: How often do your vehicles require PM servicing (e.g., every 5,000 miles)?
- PM Cost: What’s the average expense per PM service, including parts and labor?
- Labor Rates: What’s the standard labor rate for your mechanics or service providers?
- Fleet Size: How many vehicles do you manage in your fleet?
- Revenue Generation: How much revenue does each vehicle typically generate?
- PM Duration: How long does a typical PM service take to complete for each vehicle?
How the Calculator Can Help You Justify Investments in Preventive Maintenance?
Here are some scenarios where this calculator can be helpful:
- Optimizing PM Schedules: By comparing downtime costs with PM costs, you can assess if extending PM intervals (e.g., from every 3,000 miles to 5,000 miles) is financially justifiable.
- Evaluating In-House vs. Outsourced PM: The calculator can help determine if in-house maintenance with lower labor rates but potentially longer PM durations is more cost-effective than outsourcing PM to a service center.
- Justifying PM Investments: The calculator can demonstrate the long-term cost benefits of preventive maintenance by highlighting potential cost savings from reduced breakdowns and repairs.
