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Most industrial pump manufacturers make claims about their products being able to accomplish some sort of incredible and amazing achievement. Bragging rights to having a pump that generates the greatest flow rate, or does some other spectacular feat are always worth mentioning; but when determining the best pump for a customer, the pump that is best is the one that provides the performance you need and does so consistently throughout the lifespan of the product, while at the same time causing you the least amount of technical issues and downtime to your operation.
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Purchasing a pump for your business is different than buying a consumer product. The pump you purchase is expected to drive your operation without interruption or breaking the bank. If it performs in this manner, your return on the investment of your pump continues to increase; and as the weeks, months and years go by that investment compounds, amounting to a far greater value than you ever thought possible. The best industrial pump provides the performance you need and continues to operate consistently, all day, every day.
A low cost of ownership is a term that is used to measure the consistent performance, cost per yield, dependability, durability, and the long-lasting trouble-free nature of an industrial pump. An interesting fact that is true when determining the cost of ownership, is the pump with the lowest list price or energy consumption does not necessarily mean that the overall cost of ownership will be the lowest compared to other pumps with a more premium price, and that draws a slightly higher amount of energy. That saying by economist Milton Friedman is true, “You get what you pay for!” The opposite is also true, not all premium-priced pumps offer the lowest cost of ownership either.
So, when you’re trying to make your way through the endless amount of marketing white noise and over-exaggerated performance claims, remember this important question when speaking to the salesperson; “What is the cost of ownership associated with your pump, and what factors did you use when coming to that answer?”
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