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Repair costs can be expensive, including costs for the labor for the removal the broken or worn out part (described as unserviceable), cost of replacement with a working (serviceable) from inventory, and also the cost of the actual repair, including possible shipping costs to a repair vendor.
When the cost of repair becomes a significant percentage of the cost of replacement, it becomes economically favorable to simply order a replacement part. In such cases, the part is said to be "beyond economic repair" (BER), and the percentage associated with this threshold is known as the BER rate.
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective. [1] [2] Such a loss may be an "actual total loss" or a "constructive total loss".
LORA establishes when and where each unit will be repaired and determines if it is more cost effective to discard an item than attempt to repair it. While this kind of analysis seems costly and unnecessary, at enterprise scales over many years, significant cost savings can be realized.
Consequently, where the cost of reworking is less than the value of the assembly, it is widely used in all sectors of the electronic industry. Manufacturer and service providers of communications-technologies, entertainment- and consumer-devices, industrial commodities, automobiles, medical technology, aerospace and other high power electronics ...
The term replacement cost or replacement value refers to the amount that an entity would have to pay to replace an asset at the present time, according to its current worth. [1] In the insurance industry, "replacement cost" or "replacement cost value" is one of several methods of determining the value of an insured item. Replacement cost is the ...
The decision to repair or scrap is determined by considering the extent of repair needed to replace the original structural performance of the composite. Other considerations are the repair costs, the position and accessibility of the damage and the availability of suitable repair materials.
Deferred maintenance is the practice of postponing maintenance activities such as repairs on both real property (i.e. infrastructure) and personal property (i.e. machinery) in order to save costs, meet budget funding levels, or realign available budget monies. The failure to perform needed repairs could lead to asset deterioration and ...