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life cycle cost test

New calculator reports on life cycle costs within minutes

How much money could you save over the life cycle of your equipment by using Nord-Lock’s bolt securing system? The new LCP Calculator gives you the answer in just minutes.

First published in Bolted #1 2011.

The Life Cycle Profitability (LCP) Calculator spells out in black and white the long-term economic advantages of using Nord-Lock washers. Data on component costs, labour costs, assembly time and maintenance demands are entered into the web-based tool, and within minutes the user receives a report on total life cycle costs, both in figures and in text form.

“The unit price of our products may sometimes be a bit higher than for alternative design solutions,” says Nord-Lock Applications Engineer Frida Cullin. “However, this tool shows that if you consider all the costs related to a bolted joint, not only the component cost, you will most likely save a substantial amount of money over time by using Nord-Lock.”

The LCP Calculator shows a step-by-step comparison of the total costs for Nord-Lock’s washers against competing bolt securing solutions, although it does not take into consideration the costs related to a bolt failure. “This is not a tool to show that Nord-Lock is always the cheapest solution over time,” says Global Account Manager Martin Schneider. “It can also show that Nord-Lock is more expensive, depending on the parameters and the application. But unlike other solutions, the chances of our solution failing are negligible, and the cost of bolt failure is the highest cost of all.”

All Nord-Lock sales staff have access to the calculator for demonstration to customers. Customers can also get a free temporary software licence to further explore the long-term cost savings of using Nord-Lock. The LCP Calculator is targeted at purchase managers and others at management level, but also at design engin­eers. “Twenty years ago design engineers were mainly focused on function, but now they have more responsibility for ensuring that their designs are also cost-effective,” says Schneider.

See also Performance Services – Sourcing.

Published 2011-03-31

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