Are you familiar with the concept of the total cost of ownership? Why do we ask? Every industry needs to know it, and ways to reduce it to function best in reduced operational costs.
The total cost of ownership is a financial estimation that helps buyers (you) and the owner (the provider) to determine the direct and indirect costs that are going to affect the total cost of the product or service. Consider the long-term impacts of purchasing one valve product over time from one valve supplier over another. These costs can elevate dramatically when all cost factors are taken into account.
The total cost of ownership is not something new, but it has served the companies for years to become leaders of their domain today. It is a valuable tool today for valve manufacturers and suppliers and you as a buyer to determine the factors that can influence the cost of the product over time and your purchase decisions. It is necessary to look into the complete cost of the product over your entire business lifecycle. Not just the purchase price, but servicing and spare parts as well. Consider these factors and decide which valve manufacturing company in India fits the system right.
As a bonus, here are some of the best ways to reduce the cost of your industrial valve.
1. Specify the right valve for the application
Specifying the right valve is simple. You have to be specific about the function it is going to serve in your unit. The knowledge of application should match the valve characteristics. Misapplying a valve in one way or another can affect the cost dramatically. You have to be very accurate in the application. The right choice of the valve can help you reduce the overall cost of operations. When choosing between the wide variety of solutions available, don’t forget to consider their performance. Many valves come cheap at first, but their maintenance, uptime, cost of automation, and installation can be very costly.
To understand all these things, you must talk with the expert valve manufacturers and suppliers and then decide. The selection process should not be taken hastily.
2. Selecting the best seats, seals coating material and trim seats
Seats are very important to consider. It is important for bearing on the on and off function properly. In a way, performance and longevity are determined by the seats and thus, they become a very important factor to consider.
Many industrial valves manufacturers are using new design innovations, such as the use of PTFE to decrease valve torque requirements. Design innovation can help you use the smaller, less costly actuators while also giving your high performance.
Coatings in the metal-seated valves can reduce the friction between the ball and seats. It allows smoother sliding operation over numerous cycles. Minimized damage, minimized wear to galling, abrasion, erosion, practical impact, thermal swings, cavitation and so much more. A simple yet effective solution just improved the life and efficiency of the valve for years.
Lower valve torque allows a smaller actuator to be used more efficiently. It is more economical; it improves signal response and simplifies accessories’ selection to meet cycle speed targets and other special requirements.
Valve manufacturers and suppliers have to meet the industry standards to ensure the quality of the solution. The valve has to see high media velocity and large pressure drops across the valve in certain applications. It makes a lot of noise, vibration and cavitation. A manufacturer must consider all these things to create the right solution while reducing these effects all along. For example, aerodynamic solutions can help you reduce the noise and be paired to a typical control valve.
3. Investigate the real quality of valves
With globalization, a lot of people outsource valves, most often from faraway places. When you cannot be at a place and continuously inspect it, it becomes difficult to trust raw material and castings’ integrity. Often, you would find people who are just claiming to be compliant with the industry standards. Meanwhile, they have no knowledge and efficiency in serving it.
Another thing is, the standards only outline the minimum requirements. It is necessary to tighten the limits and get more serious about quality control. It helps in improved performance and efficiency. The heat treatment, the material chemistry, the valve bodies everything has to be of good quality to serve you right.
Choose the right industrial valves manufacturers that implementations specific and strict quality control and manufacturing practices. Just with the implementation of these procedures improves the quality of the valve products vastly.
4. The single resource for your valve package purchases
If you have been doing business for a significant number of years, you must have limited your purchasing to a small number of vendors. Over time we become loyal to certain brands as you have liked the quality of the product. But it is equally necessary to look at the entire package of solutions.
Has the company provided or consulted you to use some of the new age solutions? Are they into engineering, are they good at innovation? Most importantly, how is their customer service? All of these things become necessary when you want maximum ROI and minimized cost of ownership. The valve manufacturing companies in India are known for their quality solutions. Next time you search for a supplier, you must look at the following factors to choose the right partner for your needs.
5. Optimize the spare part inventory
Talking about valve manufacturers that provide you with the entire package of services also includes people that help you with performance analysis. Based on equipment ratings, the good industrial valve manufacturers can help you develop an inventory strategy by optimizing the remaining stock’s impact. It helps you reduce the wastage. It will also help you ensure the most important components stay with you when you need it the most.
Cost is one of the most important factors to consider while partnering the valve manufacturers and suppliers to meet your important needs. Hence, you need a solution which is cost-effective and also effective to meet your needs. Understand the total cost of ownership and use the factors mentioned above to choose the right solution and enjoy long-term benefits.