Evaluating your measuring equipment longevity in 2023
Updated: Feb 25
Every measuring equipment or gauge owner thinks about the longevity of their equipment every once in a life. Critical mechanisms are planned around the performance of this equipment that can have serious repercussions if lapses occur. From an asset management perspective, the useful life of an asset corresponds to the period in which it is usable.
Every asset is interlinked to an asset life cycle. The asset life cycle is divided into 4 distinct phases:
Planning ⟶ Acquisition ⟶ Operation & Maintenance ⟶ Disposal
Though most owners know roughly how long their equipment will last, determining a closer estimate is a difficult process. Fortunately, it's a process that is familiar to many experienced and certified equipment appraisers. Now, let us look at some of the most common reasons that affect the longevity of our equipment.
Like us humans, who are often perturbed with various health concerns due to various lifestyle reasons, machines can also be affected by several external factors.
So, how can you ascertain the life span of a piece of equipment?
1. Environmental conditions
Storage and usage of measuring equipment under harsh environmental conditions can have a serious impact on the longevity of equipment. Equipment kept in a dusty warehouse with extremes of temperature, or a leaking roof will certainly have a much shorter lifespan than one kept in a clean, dry workshop with climate-controlled temperatures. Moisture and humidity will lead to corrosion, and hot, dusty conditions will lead to the early breakdown of lubricants and cause excessive wear.
2. Abusive usage
If your equipment is being used without caution or being beaten onto work controls, this level of abuse will quickly shorten its overall useful lifespan. We have all seen heavy equipment that has been bashed, dented, and torqued early on in its lifespan, which quickly leads to early failure.
3. Brands and reputation
If the equipment used was engineered with care and perfection the issue of wear and tear considerably reduces. Brands thrive on the promise of quality and hence branded equipment tends to last longer than infamous brands with a reputation for shoddy quality.
4. Regular maintenance and repairs
Though it seems like a simple step, regular maintenance in line with the manufacturer's recommendations can help ensure a much longer lifespan than equipment that has been neglected over the years. In the same vein, repairs that are caught early and dealt with quickly will help prevent damage to other components in the system.
By knowing when your equipment may fail, you can better plan for replacement and ensure you are still able to receive some resale value out of it. Knowing better the life cycle of assets, as well as their different phases, has other advantages:
Better planning of the maintenance of each piece of equipment and choosing the right strategy for each moment.
Identifying trends to plan the purchase of new equipment and securing the investment.
Ensuring that all equipment complies with all quality, hygiene, and safety rules.
To tackle asset loss prevention employing asset management software for easy tracking further adds to device care.
Even if we have psychic powers, the ability to predict the longevity of equipment is a jab at reality. With the enhancement in AI and predictive models, it is not far from long before we can come to predict the life of our equipment and help us navigate out a plan before a tragedy happens!