{"id":225481,"date":"2022-11-14T16:32:16","date_gmt":"2022-11-14T16:32:16","guid":{"rendered":"https:\/\/testoil.com\/?p=225481"},"modified":"2023-05-02T17:53:53","modified_gmt":"2023-05-02T17:53:53","slug":"oil-analysis-roi-a-few-aspects-you-may-not-have-considered","status":"publish","type":"post","link":"https:\/\/testoil.com\/program-management\/oil-analysis-roi-a-few-aspects-you-may-not-have-considered\/","title":{"rendered":"Oil Analysis ROI\u2014A Few Aspects You May Not Have Considered"},"content":{"rendered":"\t\t
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Why are oil analysis programs now the rule rather than the exception across most industries?\u00a0 Because they are one of a handful of services that deliver obvious and demonstrable ROI<\/a>. The calculation of ROI can get very complex, but even a simple equation will deliver the evidence management needs to justify and expand the program.<\/p>\n\n

Oil Analysis ROI\u2014A Few Aspects You May Not Have Considered<\/strong><\/p>\n\n

Any organization that has instituted an oil analysis program has seen the bottom-line benefits of a reduction in downtime and equipment replacement expense. However, there are many less obvious contributors to ROI that some companies don\u2019t consider. One of these is employee morale and a resulting reduction in turnover.<\/p>\n\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Eurofins TestOil Reliability Concierge Program Manager David Gawelek, CLS explains, \u201cThe maintenance function is inherently unpredictable, staff can (and often do) get called in off-shift and\/or overnight to deal with equipment failures. This unpredictability is minimized when effective condition monitoring programs are in place. Ownership\/buy-in of staff is a critical piece of a proactive reliability-centered maintenance culture. This occurs naturally when staff members see a condition-monitoring program (like oil analysis) improve operations and make their jobs more manageable and consequently their lives better.\u201d<\/p>\n\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 An improvement in employee morale also means less turnover (which can be costly).\u00a0 \u201cBetter employee retention leads to the retention of hard and soft skills, David adds. \u201cA well-run oil analysis program is a learning and growth opportunity for staff. However, the benefits of reduced turnover are not limited to maintenance staff. Production staff, management, sales, and ultimately the customer benefit from more predictable operations due to well-executed condition monitoring. The impact and ROI of a successful oil analysis program extends across all stakeholders. \u201c<\/p>\n\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In addition to improving employee morale and retention, other often overlooked areas where oil analysis delivers easily measurable ROI include:<\/p>\n\n