When does an organization opt for contractual maintenance? Explain with example. What are its merits and demerits?

An organization typically opts for contractual maintenance when it seeks to manage the operational risks and costs associated with the upkeep of its equipment, facilities, or machinery. Contractual maintenance, also known as third-party or outsourced maintenance, involves hiring an external service provider or contractor to handle the regular inspection, servicing, and repair of assets. Several factors influence this decision, including cost-effectiveness, expertise, and resource constraints.

One key reason an organization may choose contractual maintenance is cost management. Maintaining an in-house maintenance team can be expensive, particularly for specialized tasks that require specific expertise or advanced tools. For example, a manufacturing company may contract with a specialized firm to handle the maintenance of its complex ______ _________ _______ __________ __________ ____ _____.
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