Understanding cost of ownership for motors & drives

Learning objectives

• Review what to consider when evaluating total cost of ownership, including initial cost, reliability, downtime, maintenance, product life cycle considerations and warranty. 
• Dive into the biggest factor impacting motor and drive life cycle costs—– energy—, and understand how higher operating efficiencies can significantly reduce operational costs.  
• Understand how your a company’s culture affects the purchasing decision. Discuss the important motor and drive considerations for each department that will help minimize the total cost of ownership.  

Cost of motors and drives extend long beyond the purchase order, and if those doing the specifying of the motor-drive system do non consider reliability, downtime, maintenance, warranty and other product-lifecycle costs, they ignore the bigger picture. Higher operating efficiencies significantly reduce operating costs of motor-drive systems. Ensure an organization’s cultural factors don’t get in the way of total-cost-of-ownership decision-making. 

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