Here’s a fabulous little article showing you how stainless steel is a cheaper material to use in the long term than mild steel when a whole picture is taken.
Or, in other words:
Life Cycle Cost (LCC) analysis is a means of quantifying the choice of materials for a product or construction, with the aim of selection of the most economic alternative.
There’s a splendid LCC equation and a splendid little case study with enough facts and figures to inwardly digest and befuddle your boss with it over a brew or confound your average customer with.
LCC=Acquisition Cost + Fabrication and Installation Cost + Maintenance Costs (periodic) + Replacement Costs (periodic) + Cost of Lost Production (periodic) – Residual (Scrap) Value
Just try not to become too pathologically supercillious when waffling about this to somebody just wanting a splashback.
Read the complete Life Cycle Costing of Stainless Steel article here.