New app reveals stainless steel’s lifecycle costs

Online since 1.03.2017 • Filed under Advertorial • From Issue 5 - March 2017 - August 2017 page(s) 52
New app reveals stainless steel’s lifecycle costs

The Southern Africa Stainless Steel Development Association (SASSDA) launches a world-first app that proves stainless steel’s ability to ensure a far lower overall lifecycle cost.

The powerful combination of stainless steel’s attributes is what makes it the material of choice in many uses. Unfortunately, one of the biggest obstacles to the specification of stainless steel in certain applications is the ongoing misperception that it’s more expensive in comparison to other, initially cheaper options. In the short term, that may be the case considering upfront costs but its durability and ease of maintenance compensate for the sometimeshigher initial purchasing costs; and it is often the least expensive choice in a lifecycle cost comparison.

Its ability to provide long-term performance with a minimum of downtime and cost associated with maintenance is determined by calculating the material’s lifecycle costing (LCC), which is of particular importance to the stainless steel industry. LCC is a technique developed for identifying and quantifying all costs, initial and ongoing, associated with a project or installation over a given period.

The technique uses the standard accountancy principle of discounted cash flow, so that total costs incurred during a lifecycle period are reduced to present day values. This allows for a realistic comparison to be made of the options available. As far as material selection is concerned, LCC enables potential long-term benefits to be assessed against short-term expediency.

Materials costs are assessed with their related implications, such as initial outlay, maintenance and its frequency, downtime effects and production losses, repair and replacement costs, and other operationally-related costs such as manpower and energy consumption.

World-first app

To assist with this process, a world-first app from SASSDA is set to lift the lid on the bigger picture – stainless steel’s ability to ensure far lower overall LCC.

The benefit of this app, available on the Google Play Store and in the Apple iStore, is that it allows for the almost real-time calculation of the LCC of stainless steel via an easy-to-use pre-programmed calculator. This requires the entry of key top-line data, followed by the simple click of a ‘calculate’ button that generates a breakdown of the relevant costs and the ability to e-mail this to various recipients.

The app was created to assist engineers to calculate total LCC so that total costs incurred during a life cycle period are reduced to present day values. This allows a realistic comparison to be made of the options available. The app also enables potential long-term benefits to be assessed against short-term expediency.

Throught this app, SASSDA hopes to educate the market on the inherent benefits of stainless steel that include minimal maintenance, a minimum 60-year lifespan, and significant green benefits.

SASSDA

1st Floor, Block D, Homestead Park 37-41 Homestead Road, Edenburg, Sandton John Tarboton

T +27 011 883 0119

E john@sassda.co.za

W www.sassda.co.za

Issue 5 - March 2017 - August 2017

Issue 5 - March 2017 - August 2017

This article was featured on page 52 of SABI Magazine Issue 5 - March 2017 - August 2017 .

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