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Home » Industrial Pumps » Looking to Reduce the Life Cycle Cost of your Pump Systems – Don’t forget to Consider these Factors

Looking to Reduce the Life Cycle Cost of your Pump Systems – Don’t forget to Consider these Factors

Posted: 07/09/2018
Category: Industrial Pumps , Pumps

What is the Life Cycle Cost of a Pump? Simply put, it’s the total cost of ownership of the pump. It involves all the expenditures, right from the initial investment costs to ongoing maintenance and repair costs. All industrial users must do a Life Cycle Cost Analysis before purchasing a pump for their factory or plant. With that said, sometimes industry owners make the mistake of choosing a pump that comes with the lowest acquisition price, forgetting to consider the total life cycle cost. This can be a pretty expensive mistake, as ongoing and periodic life cycle costs are a major component of the buying equation. And, ignoring these, is a fatal mistake. The Three Main Components of Pump Life Cycle Costs Pump life cycle costs can be divided into three components:

  • Acquisition (Initial Costs)
  • Annual Expenditures (Maintenance)
  • Periodic (Repair and Replacement)
All these three components play a major role in determining the overall pump life cycle cost. While the acquisition cost is straightforward, the other two are a bit complicated and takes time to determine. Nevertheless, while purchasing a pump, you have to factor in all these three elements. Here, in this week’s post, we give you the best ways to reduce the overall lifecycle costs of your pump systems. Cost Saving Strategies to cut Operational Costs There are several strategies that you can employ to reduce the operational costs of your centrifugal pumps and rotary pumps. Here are a few of the top methods:
  • Always choose the right pump manufacturer
This is crucial because the right pump manufacturers would be able to provide you with the right pumping sizes that suits your requirements over a long term. Also, with the right pumps manufacturers you can be assured of getting repair assistance throughout your pump’s life cycle, not having to worry about replacing it. While choosing a pump manufacturer make sure to consider all the following factors – ease of use, reliability, part availability and consistent pricing. Additionally, try getting reviews from previous customers as to the trustworthiness of the supplier. Other factors to consider include warranties, pump operator training, repairs and more.
  • Look for pumps that come with a VFD (Variable Frequency Drive)
This helps you to alter the speed output based on the load requirement, instead of using parts that wear out prematurely.
  • Look for Pump Designs with Money Saving Features
Features like cartridge seals with reusable holders, reversible wear plates, and adjustable housing segments help in reducing the overall costs of a pump. While choosing pumps, spend a few minutes understanding all the features so that you pick the right ones that aren’t just suitable for your application, but also come with other advanced features that cut down operational costs.
  • Provide the Right Training for Pump Operators
Another main reason why you spend a fortune on expensive pump repairs is that the pumps were operated under the wrong conditions. To avoid such situations, make sure to provide the right training to pump operators. They must be able to decide whether parts need changing and if yes, do it on their own, or call in the right personnel for the job. Also, pump operators must know how to change oil and respect operational tolerances.
  • Invest in a few Sensors
You can install sensors that let you know of abnormal pump operating conditions. If possible, try to reduce the number of pump models in your plant so that you can cut down on inventory costs. Final Thoughts While low acquisition costs may appear advantageous in the outset, if your pump is going to need frequent repairs, it isn’t worth it in the long run. So, make sure to consider the total cost of ownership (which includes acquisition, ongoing and periodic costs) rather than the initial price. If you need any further help on choosing the right pump for your application, don’t hesitate to get in touch with us, here at Sintech, India’s leading manufacturer and distributor of a wide range of industrial pumps.  

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