KPIs in retail maintenance

 

Enhance your store performance with smart store maintenance goals

Many retailers look at store maintenance as a necessary evil or cost item at best. But it doesn’t have to be the case. A well-planned and executed maintenance strategy can bring a lot of concrete benefits.

On the spend side, a reduction in operational costs can be quite easily measured and have a direct impact on your bottom line. But, combined with smart facilities management, it can also improve customer satisfaction by creating a thriving retail environment for both clients and staff. Even though these effects are harder to measure, they undoubtedly improve your store performance.

How to choose your KPIs in retail maintenance?

There are a lot KPIs out there to choose from, depending on:
1) your maintenance strategy and goals,
2) retail environment of your store and
3) asset criticality.

Focus on the ones relevant to you and make sure they are specific, measurable, attainable, realistic and timely.

The KPIs can be categorised into 2 groups based on their connection to an asset or a given task. The first category measures and tracks the performance of relevant assets and the second – the tasks and their influence on general store performance.

Most common KPIs in retail maintenance

Typically, retailers focus on the KPIs below.

Task related KPIs in retail maintenance:

  • Number of call outs (work orders): the total of all the tasks ordered within a given time. In order to get more accurate and informative data, it’s a good idea to have the activities broken down by type.
  • Maintenance Response Time: calculates how much time your maintenance resource needs to start working on a call-out task. This indicator is expressed in days and varies depending on the urgency of a task, technician availability, distance to a store location and overall efficiency of your provider operating system or platform.
  • Work Order Completion Time: measures the percentage of call outs completed within a given period of time. The higher the percentage is, the more efficient maintenance services execution is. The industry standard here is 90%.
  • Planned Maintenance Percentage (PMP): determines the percentage of planned maintenance activities vs reactive visits. This is an indicator of the effectiveness of preventative maintenance routines. Generally, the higher the percentage the better, but if yours lands at 85%, you are within a good industry standard.
  • Reactive Maintenance Percentage (RMP): calculates the percentage of reactive maintenance jobs completed after asset failure. This KPI indicates the proportion of reactive repairs and direction for an improvement in planned maintenance. You want to keep this rate below 20%.
  • Compliance Percentage: shows the ratio of compliance visits completed within a timely manner. The higher the percentage, the more compliant your store is, but at 90% you meet a good industry standard.
  • Overall Maintenance Cost: this KPI sums up your total cost on maintenance services including man hour cost, spare parts and other relevant spendings.
  • You might also want to measure Maintenance Cost per Store and Per Square Foot/ Meter to be able to compare your maintenance spendings across various store locations, sizes or other relevant criteria.

 

How to use insight from KPIs?

Once you set your KPIs, make sure to measure, track and analyse them regularly. The data our system can provide in the form of easy to read reports will systematically will help to:

  • do benchmarking and see how you do in comparison to some industry standards,
  • identify trends your data is indicating. Discover the patterns in asset and task performance,
  • plan and execute performance improvement based on data-driven decisions. You can deal with repeating problems, optimise maintenance schedules and improve the usage of your resources.

Armed with a good mix of relevant KPIs you can review the efficiency of your maintenance strategy and address issues that cost you more money than required. And you will be able to optimise the overall maintenance spend for your store network.

 

Let us help you to track KPIs in store maintenance that matter

At CAPS Group we help retailers to stay on top of the maintenance game. With our international structure across Europe and experienced team equipped with technology, we take care of the full retail maintenance package. And with KPIs included in our service. Contact us and let’s discuss what you need to get ahead.

Read more about our store maintenance services.