Your machinery has a substantial impact on your operations. When you keep your machines in the best possible condition, you will be better equipped to improve your efficiency and increase your profit margin. One important part of this is knowing whether you should replace or repair your machinery. In some situations, repairs will be more efficient. Other situations may call for replacement. It is also important to ensure that you are providing the appropriate maintenance to keep your machinery in the best possible condition. Here are some important steps to help you decide if you should replace or repair your machine.
Is the Repair Covered?
When your machine has an issue, the first thing that you should do is check for a warranty. If the repair is covered by a warranty, you will likely simply want to have the machine repaired. This will come at no extra expense for yourself because the machinery was initially covered by the warranty. If the machine’s warranty has expired, you will then want to move onto the following steps to help decide if you should replace or repair your machine.
Many experts recommend following the 50/50 rule when deciding to replace or repair your machine. Essentially, this rule dictates that you should replace the machine if the cost of a repair exceeds half of the cost of having the machine replaced. However, you will also want to keep the frequency of repairs in mind when making this decision. If you have frequent breakdowns, the expenses can easily build up to half of the cost of replacement.
Consider the age of the machine when you are deciding if you should have your machine replaced. If the machine has gone beyond its expected lifetime, you may want to consider having it replaced. When you have it repaired instead, you will likely be able to expect many additional breakdowns over time.
Frequent breakdowns are a huge indication that you should have your machine replaced. If your machine is breaking down on a regular basis, your repair expenses will start to accumulate a substantial amount. This will also result in a great deal of downtime that will impact the bottom line of your business.
Is there new technology regarding the machine that you are considering replacing? The benefits of obtaining the newest technology may outweigh the cost of replacing your machine. You will want to keep this in mind when you are deciding whether you should repair or replace your machine.
There are many costs that should be considered to help you make a decision. You will want to weight the cost of a repair against the cost of replacement. It will also be beneficial to think about improvements in energy efficiency and the overall cost of regular downtime. These factors can all help you to identify the costs that you may expect from either repairs or replacement. In general, repairs will save you money short-term, but replacement may save you money in the long-term.
A machine that breaks down regularly will create a great deal of downtime. This can interrupt your operations, which can cost you a significant amount of money over time. If you find that downtime is a regular, reoccurring event, you may want to start considering replacement for your machine.
Safe equipment is extremely important in the workplace. When you upgrade to the next best machine, you can be confident that the machine has been equipped with the latest safety strategies. This can go a long way toward protecting your employees from significant issues and injuries.
Energy efficiency will have a huge impact on your profit margin. When you have a machine that has aged substantially, it will likely stop being as energy efficient as is possible. This can increase your energy expenses.
When you are deciding to repair or replace your machine, you will want to ensure that you consult with a professional for the appropriate guidance. At Sanson Machinery, we offer an array of services to ensure that your needs can be met. We can help you to identify whether repair or replacement is the best possible decision for your particular situation. To learn more about deciding to repair or replace your machinery, contact us at Sanson Machinery today!