When procuring a fire safety system and keeping value for money front of mind, it is crucial businesses consider the long-term cost – the Total Cost of Ownership (TCO) – as opposed to concentrating solely on the short-term price.Failure to do so can lead to hidden costs, such as those from expensive replacement parts and labour charges from regular engineer callouts, incurred throughout the product’s life-cycle.
The top tips for avoiding hidden costs when purchasing a fire safety system are:
The quality of the manufacturing process and materials used can have a direct impact on the longer term reliability and performance of the end product.
A cheaper system may require more regular repairs, incurring additional costs for engineer callouts and labour, while parts, such as beacons and LEDs, may need replacing more frequently, increasing ongoing expenditure.
Strict processes, such as hand testing every component in every device, can dramatically reduce faults and the associated costs. Only by researching manufacturers and suppliers can businesses be sure of quality throughout.
Some maintenance costs can be an unfortunate consequence of a poor quality system. However, there are plenty of aspects companies can plan ahead of time, such as factoring in costs for replacement parts into TCO. If these costs aren’t taken into account and a business purchases a fire safety system overseas for a cheaper point of sale price, it might be hit with additional costs for shipping, handling and delivery when ordering a replacement part. Additionally the parts themselves could be more expensive than expected, pushing the TCO even higher.
So many businesses fail to include operating costs as part of their TCO calculations. Government energy bodies, such as The Ministry of New and Renewable Energy, have begun to fine corporations if energy consumption is at an unsustainable level. Higher end products have usually been thoroughly tested to determine the level of energy consumption and this can protect a business from fines later on, even if the purchase price is higher initially.
Businesses across India must understand that there is more to a purchase decision than the initial cost and, in terms of fire safety systems; a long-term investment is required to protect businesses and staff.
Download the Fire Safety in 2023 eBook, keeping you up to date with the biggest news and prosecution stories from around the industry. Chapters include important updates such as the Fire Safety (England) Regulations 2022 and an overview of the new British Standard for the digital management of fire safety information.
Plus, we explore the growing risks of lithium-ion battery fires and hear from experts in disability evacuation and social housing.
