Cost Savings: The “Little” Stuff

When we’re looking back at the work we’ve done over the last month or year, there are some impressive numbers. In some cases, one solution we provided might have saved a plant 50K or more. So when you have numbers that large, the smaller stuff can seem almost insignificant. We have to remind ourselves – and our customers – that it’s not. Saving a small amount on one component (and another and another and another) adds up to huge savings across your entire operation. Just because you’re not seeing five-digit savings numbers on each project doesn’t mean it’s not critically valuable to your profits.

Success Story

Industry – Metals & Steel
Region – Northwestern PA
Cost Savings – $990

Problem
Bearings were failing 2-3 times per year. ErieTec identified that the environment was too wet for standard grease.

Solution
ErieTec added solid grease to the bearings instead, tripling their lifetime.

Savings Calculation
The bearings were costing $40 each so three failures per year was $240. Labor ran about $250 each time they failed, equating to $750 per year. The total savings by eliminating those failures is $990 per year.