In a traditional transaction-based model, suppliers’ profits depend on numbers of parts sold and not on improvements in machine performance. There’s a fundamental conflict of interest, as longer component life means fewer sales for the supplier. SKF is now offering a forward-thinking, fee-based Rotating Equipment Performance (REP) service, where customers can benefit from maximizing machinery’s productivity, reliability and efficiency.
Under a REP contract, the customer pays a fixed monthly or quarterly fee dependent on SKF meeting agreed targets for machine production level, uptime or other KPIs. The all-inclusive fee covers provision of bearings, seals, lubrication and condition monitoring. SKF’s engineering expertise in this specialized area ensures the ideal specification and application of all elements, which is important as 90% of industrial bearings fail because they are wrongly specified, installed, lubricated or used.
REP can be applied to both long-established and modern equipment, including conveyor belts, pumps, crushers, etc. SKF experts discuss the needs of the machinery and the business before proposing a solution. Importantly, REP helps bring the customer’s maintenance and production departments together, with a strong focus on uptime and output.