It’s common for business owners to fail, even those with high sales numbers. The common reason for failure lies in operations that don’t meet efficiency standards. One method of identifying a problem area is through a level of repair analysis.
Repairing damaged goods should be a key point on every company’s list. How much does the item cost to purchase, then to lose on a damaged product? Is it more cost-effective to manufacture a new product from new parts?
Here’s how to identify and fix problems with a Level of Repair Analysis.
Definition
Level of Repair Analysis (LORA) is a technique used to determine the most cost-effective repair procedure for an item. It is a decision-making process used to determine when to perform maintenance, when to repair an item, or when to dispose of an item.
The technique takes into account the costs involved in repair decisions, such as labor hours and safety risks. It stimulates the influence of the decisions made and presents users with readable solutions.
LORA answers questions such as when to repair or replace a component or machine. How much should be invested in maintenance, and when should we invest in new technology?
It is a cost-benefit system for determining when to do what and for whom. It helps in optimizing resource use, improving service life and performance, and reducing costs.
What Are Its Goals?
Its primary goal is to reduce the cost of service while maintaining or improving the system’s performance. This can be accomplished by deciding on the best time or level of repair.
Here, the level of repair is the decision of whether to repair on-site, replace a component, or send the item to a workshop for more extensive repairs. The decisions of when to repair and what kinds of repairs work to undertake must be examined to meet the goals of cost-effective maintenance.
The Benefits
The benefits of using LORA are several. Proactive maintenance planning can lower the costs of repairing or replacing an item. It can also decrease the risk of unexpected system failures.
It can increase the availability, reliability, and safety of the system. Monitoring the condition of repairable parts can help reduce inventory costs and improve the value of repairable parts.
So if you want to experience these benefits, click for more details on how to start training and implementing LORA into your business. This can help create a more efficient and cost-effective strategy.
What Do You Include in LORA Calculations?
LORA calculates the life-cycle cost of a system and the probability of repair success, which is the decisive factor in deciding on a maintenance strategy. The cost and weight of items are also taken into account when making the decision.
The result of the LORA analysis can help with cost-saving efforts, maintenance planning, and decision-making. It can help ensure that resources are backed up in case of failure and help identify when more resources are required.
Considerations for Using Level of Repair Analysis
Level of Repair Analysis (LORA) is a great tool when it comes to reducing repair costs and improving productivity. LORA focuses on cost-effectiveness, reliability, and reusability which is almost always a win-win. With LORA, organizations can save money and time and gain a competitive edge.
If you found this helpful and want to read more great content, check out our latest blog posts now!
