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The Basics Of Planned Maintenance Explained

Deciding the perfect time to schedule and provide maintenance services for equipment in a business can be challenging. This is where planned maintenance comes to play. Planned maintenance is a term used to describe any maintenance activity that is planned, documented, and scheduled. It is usually put in place to reduce equipment downtime and improve efficiency by reducing the risks of damage. Planned maintenance is an effective tool in running a business. Are you planning on implementing this maintenance strategy in your company? Here is all you need to know about planned maintenance. What Is Planned Maintenance? Many businesses depend on equipment or machinery to operate. Without these machineries, the work rate will be reduced drastically, and the quality of work will suffer. For companies like this, it is important to keep equipment in tip-top shape. This is because the more efficiently the equipment can function, the better the business can carry out its operations. More importantly, equipment is expensive to repair or replace. By keeping this machinery maintained, businesses can reduce the risks of expensive damages and equally expensive repairs. Planned maintenance makes achieving all this possible. But what exactly does this term mean? Planned maintenance is a type of maintenance management that refers to any maintenance activity scheduled in advance to take place regularly. This duration might be weekly, monthly, quarterly, or even annually. The duration usually varies with different factors such as the frequency of equipment usage, type of maintenance needed, and environment where the equipment or machinery is used. Many businesses without an effectively planned maintenance strategy struggle with unplanned machine downtime that grinds business operations to a halt. These downtime sessions can become extremely expensive as they slow production. For example, the average automotive manufacturer loses $22,000 per minute when the production line stops. Planned maintenance is a form of preventative maintenance that involves knowing the spare parts, tools, services, and maintenance tasks needed to solve a problem ahead of time. Types of Planned Maintenance There are two major types of planned maintenance. These include: 1. Planned Preventive Maintenance Planned preventive maintenance (PPM) or planned preventative maintenance is dedicated to preventing unexpected equipment breakdown. It involves conducting regular and routine equipment maintenance to prevent unexpected equipment downtime and reduce costly damages.  The objective of planned preventive maintenance is to create a schedule that tackles equipment faults before they arise and degenerate into more serious repairs. By scheduling these preventive maintenance tasks, companies can keep machine damage to a minimum. For example, a company can choose to maintain their vehicles after they run 3,000 miles. Planned preventive maintenance utilizes industry standards and data insights to determine the best time to perform maintenance procedures. Some data factors used to determine the best scheduling plan include usage, duration, or condition-based factors. The goal is to maintain these assets while they are still in functioning order. Some benefits of planned preventive maintenance include the following: A reduced risk of business interruptions  More efficient machines with an extended life span Reduced need to replace or repair equipment constantly Organized workforce management with a schedule that reduces time-wasting and wasting of resources  Improved health and safety compliance that results in a safer work environment Better budget management thanks to the elimination of expensive machine repairs Planned preventive maintenance is the best for critical assets or equipment with vital roles in a company. Primary equipment drives the operation of a business, such as a truck in a logistics or moving company. This way, if this asset suffers a downtime, it directly and detrimentally affects the business.  In this case, planned preventative maintenance ensures the asset does not suffer unexpected downtime. Planned preventive maintenance is also great for assets with statutory requirements and high replacement costs. 2. Planned Unscheduled Maintenance Planned unscheduled is the less organized version of planned maintenance. It does not involve consistent scheduling of maintenance services. Planned unscheduled maintenance focuses more on delaying the upkeep of an asset until a breakdown occurs.  The concept of planned unscheduled maintenance as a form of planned maintenance might sound ironic, especially since it waits for an asset to require repair service. However, while this type of planned maintenance might adopt a run-till-failure approach instead of a proactive one, it is just as effective. In planned unscheduled maintenance, the breakdown is unexpected and cannot be guessed. However, although the time of the breakdown is not known, the business will already put in place a maintenance task, team, spare parts, and necessary equipment to handle the problem when it arises. Planned unscheduled maintenance is a great maintenance option for assets where the cost of repair will be less than the cost of continuous maintenance. It is also best for single-use assets with affordable spare parts, non-critical assets, assets without statutory requirements, assets with low financial value, assets with sporadic failure patterns, and assets with a short lifespan. The major benefit of unscheduled maintenance is it replaces maintenance costs with repairs. Planned unscheduled maintenance is best when the equipment is: Not designed to be repairable Located where it cannot be accessed for constant maintenance services Designed to be replaced at the end of its lifespan Easily bypassed or redundant systems are in place.   Planned Maintenance Workflow Many businesses struggle to build a sustainable and effective planned maintenance strategy. Because there are lots of assets with different maintenance needs, it is important to be knowledgeable about the best way to schedule maintenance. While every planned maintenance schedule is unique to the business, they all share one common workflow foundation. Below, we have highlighted the step-by-step parts of a planned maintenance workflow. 1. Identify The Problem And Create a Work Order The first step in a planned maintenance workflow is to highlight the scope of the work. To do this, identify the asset to be maintained and gather information about it, including its failure modes and other useful information.  Failure modes, in this case, describe certain ways that an asset and its components can fail. Other useful

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Coastal Kapital LLC Receives 2020 Best Of Sarasota Award

PRESS RELEASE Sarasota Award Program Honors the Achievement SARASOTA July 6, 2020 — Coastal Kapital LLC has been selected for the 2020 Best of Sarasota Award in the Financial Services category by the Sarasota Award Program. Each year, the Sarasota Award Program identifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and our community. These exceptional companies help make the Sarasota area a great place to live, work and play. Various sources of information were gathered and analyzed to choose the winners in each category. The 2020 Sarasota Award Program focuses on quality, not quantity. Winners are determined based on the information gathered both internally by the Sarasota Award Program and data provided by third parties. About Sarasota Award Program The Sarasota Award Program is an annual awards program honoring the achievements and accomplishments of local businesses throughout the Sarasota area. Recognition is given to those companies that have shown the ability to use their best practices and implemented programs to generate competitive advantages and long-term value. The Sarasota Award Program was established to recognize the best of local businesses in our community. Our organization works exclusively with local business owners, trade groups, professional associations and other business advertising and marketing groups. Our mission is to recognize the small business community’s contributions to the U.S. economy. SOURCE: Sarasota Award Program CONTACT: Sarasota Award Program Email: PublicRelations@2020-best-ofselection.org URL: http://www.2020-best-ofselection.org

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Coastal Kapital Expands Adding Two New Employees

FOR IMMEDIATE RELEASE: Florida Financial Service Leaders, Coastal Kapital, Expands and Adds Two New Employees City, State — April 19, 2021 — Coastal Kapital, a financial service leader in commercial equipment financing and asset-based lending, is expanding in 2021 and is excited to announce that two new employees are joining them. Heather Panzitta has been appointed Administration, Funding, and Credit Coordinator, and Erin NesSmith is Coastal Kapital’s new Account Executive. Further, Coastal Kapital says it has big plans for 2021. Arrangements are in place to enable them to welcome more employees, and they intend to expand operations so they can provide financial lending to even more companies. Coastal Kapital specializes in providing financial solutions for businesses operating in a wide range of industries in the US, including construction, heavy equipment, short and long-haul trucking, tilted vehicles, landscaping, beauty salons, and health spas, medical equipment, office equipment, you name it we can do it there is not an equipment description out there that Coastal Kapital will not entertain. Financing solutions include equipment financing loans, leases FMV, $1 out, 10% PUT, Master Leases and TRAC Leases, which empower companies to purchase the equipment or technology they need long or short term; Coastal Kapital will also provide working capital loans, which are unsecured debts; and Small Business Administration (SBA) loans, which typically offer lenders lower rates since they are linked to the US Treasury, and factoring. Heather Panzitta With personal experience of running a business, Panzitta brings a host of skills and knowledge to her role as Administration, Funding, and Credit Coordinator at Coastal Kapital. Panzitta operated her own company called Destination Athlete, which specializes in all aspects of youth athletics. Panzitta is also an accomplished administrator, having worked as a Data Analyst for the Martin County School District in South Florida. As well as actively liaising with the district office on behalf of the school, Panzitta managed the school’s student database, funding, and reporting to the State of Florida. Erin R. NesSmith Erin R. NesSmith is Coastal Kapital’s new Account Executive. Like Panzitta, NesSmith is an extremely capable member of the finance team. NesSmith comes from an extensive background in restaurant management and the medical field, with experience in pediatric, emergency, and psychiatric care services. In addition, NesSmith has worked in the marketing and brokering of high-end luxury goods, such as boats and recreational vehicles. About Coastal Kapital Established in 2007, Coastal Kapital now offers more than 150 different programs that cover leasing, financing, bank loans, business working capital, merchant services, and business consulting. The team aims to understand their client’s business model and expansion plans; hence their motto “Financing You Can Trust.” What further sets Coastal Kapital apart is that they welcome business owners who are just starting up with 0-2 years in business to high portfolio lending up to 35 million for qualified clients.  Coastal Kapital will also work with clients who have previously had their credit application challenged; there are no hidden fees; they provide fast decisions; and, when a loan is agreed, cash is deposited in as few as 24 hours. Coastal Kapital is a company that acts differently by partnering with its clients and vendors as an advocate.  They want to provide long-term growth and solutions for their clients over the long term.  Partnerships are what they strive for in a client.

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