A conveyor system is an excellent option to handle material handling. With many varieties to choose from such as conveyor rollers, conveyor belts, chain conveyors, and so on, it can be daunting to select the right system for a particular operation. Moreover, most business owners only consider the initial investment cost when opting for a conveyor. However, the total cost of ownership is a better metric in this regard. In this blog, the 3 aspects of the total cost of conveyor ownership are explored, along with some tips to further reduce it.
How To Calculate Total Cost Of Ownership?
1. Initial Equipment Cost:
Factors like the cost of installing the mechanical and electrical equipment as well as controls fall under this category.
2. Maintenance Cost:
In this segment, various aspects of maintenance such as spare parts costs, labour costs, training expenses and more are considered.
3. Operational Cost:
Lastly, in this category, all the different costs of operation for the conveyor system are considered. This can include energy consumed by the conveyor equipment, energy consumed by the supporting equipment and training in this regard.
While these 3 comprise the main parts of the total cost of ownership, some other factors include:
- Lifespan of the mechanical design of the conveyor.
- The lifespan of the conveyor based on its utility as a business might outgrow the conveyor’s capabilities. Alternatively, new technologies turn the current system obsolete.
Tips To Reduce The Total Cost Of Ownership
By choosing the right makes and models, the total cost of ownership for a conveyor machine can be driven down significantly. Here are some examples:
- Choosing a low-voltage conveyor can reduce the cost of installation, as it is very minimal in comparison to mechanical conveyors such as conveyor rollers and belts.
- If belt-driven conveyors are a necessity, then small choices such as going for rollers instead of slider beds can make a huge impact by reducing the operational cost of the conveyor system.
- Going for control which can vary the speeds based on throughput can significantly improve the maintenance part of the equation.
Therefore, the total cost of ownership is not only a useful metric but by following the above tips, it can be driven down to a great degree. Need help in identifying these factors? Contact the expert system integrators at Norpak Handling today. We will be happy to provide extensive consultations to ensure you choose the best conveyor system for your particular operations.
