Investing in a quality industrial machine takes a lot of resources. When such an essential industrial tool breaks down, it can be almost impossible to resume operations if you don’t take the right measures to repair or replace it.
Choosing whether to replace or repair expensive industrial equipment is such a challenge to most people. Before visiting your Industrial supplier to buy new industrial equipment, you should take some minutes to go through this article. We explain some factors you should consider to help you determine whether to replace or repair your industrial equipment.
1. Consider the costs
Whenever you make decisions on repairing or replacing your industrial machine, you should first analyze the costs. Look into operating expenses, salvage value, service life, and cost of purchasing new equipment. You also want to know the revenue cost the equipment may bring to your business.
If you want to repair old industrial equipment, you should consider its service life. If the machine has less than a year left on its service life, repairing it is never the right move. You can also use the equipment market value and the future salvage cost to determine whether to replace or repair it.
2. How old is the equipment?
In most cases, industrial equipment age faster than most machines. They need more extensive repairs based on their ages. If the equipment has been working for years, it becomes more weak and prone to repairs. If you have older equipment, investment more on its repair is never the right decision because it doesn’t give less return for your investment.
Instead of repairing old industrial equipment, you should opt for a new one that will last longer and improve your productivity. Here is the rule of thumb to follow: Only repair new equipment and replace older ones.
3. When repairing takes less time
Sometimes replacing industrial equipment can take longer. You have to place the order and wait for the machine to arrive. When all this happens, your business is at a standstill.
There is never a guarantee that your shipment must arrive at a specified time. Don’t forget that installing new equipment, even if it arrives on time, still takes a lot of time.
If repairing the equipment will take less time, it’s better to do that and ensure business continuity. Find an expert to repair the industrial machine to ensure your operations run smoothly and reduce downtime.
4. Safety first
In industrial production, safety should always come first. Having old industrial equipment at your facility endangers your staff. Those operating the old machine are at risk of injury.
You must keep inspecting your industrial equipment if they can continue providing a safe environment for your workforce. If the equipment is old and more dangerous to handle, you should not hesitate to replace it.
Before replacing your industrial machine, you want to think long-term. How will the machine affect your revenue and productivity? If the benefits of replacing the equipment outweigh the costs of repairing it, you should not look behind. You can order for a new industrial machine from a reputable dealer.