There's no doubt that Rolling Bearings can prove to be an expensive investment over time. But is there a smarter way to buy? The final decision to make a purchase on a bearing is much more cost-effective when you take into account the whole life costs, also known as the total cost of ownership. Basically, you must consider what it will cost you over the life-span of the product, not just at the initial purchase. This is definitely a preferable alternative if you’re interested in making your dollar work for the long-term and saving some money over time.
It is important to take a look at the whole picture. When you buy a cheaper bearing, you may be saving money in the short term, but you are also unnecessarily sacrificing your money when it comes to the future. Purchasing a cheaper bearing can be an unfortunate decision, as usually only 10% of the overall cost of the item is accounted for in the initial buying.
When assessing the total cost of ownership, you should always account for purchase price, installation costs, energy costs, operation cost, maintenance costs, downtime costs, environmental costs and decommissioning or disposal costs.
There are many advancements in High Technology Rolling Bearings. Yes, they have a higher price point, but their improved features allow total cost of ownership reductions to be achieved. There is added value over the complete life span of the product. These reductions are achieved because of a much lower assembly time, reduced maintenance cost and improved energy efficient, just to name a few.
There is another benefit to opting for the more advanced, higher-tech components. This is the fact that the value of the product actually increases over time as opposed to decreasing. Specific features can be added to the bearings that add further value over the life of the machine. These include unique sealing technology within the bearing to help save space, features to prevent slippage under the effects of rotation, and special coating that minimizes friction.
ASAP Part Services delivers all bearing components around the world. We are your reliable go-to destination for all your rolling bearing needs, including highly advanced technology. Make your dollar go long when it comes to rolling bearings with ASAP Part Services.