by Brittany Willes, Plastics Business
You may know the saying “Time Wounds All” – and that especially includes equipment. Even machines that are well-maintained and cared for are subject to the ravages of time and eventually need to be replaced. As inconvenient – and often expensive – as it can be to invest in new machinery, there are several very good reasons for doing so.
1. Increase Speed and Productivity
It’s no secret that advances in technology have made everything faster, and this includes manufacturing equipment. Operators are now able to do in a few short hours what used to take an entire day – or longer. By investing in newer, faster equipment, businesses get more for their money. Increased speed leads to increased productivity, which, in turn, leads to greater profits.
2. Improve Efficiency
Let’s be honest. Some older machines are not necessarily the most efficient in today’s fast-paced, ever-evolving marketplace. Success demands efficiency, which means responding to the changing market as smoothly as possible. New equipment often can serve to streamline the production process and produce better quality products. Newer equipment also is likely to be more energy efficient, leading to greater savings for the company while minimizing environmental impact. This is especially important given that more and more, consumers are looking to companies that incorporate environmentally-friendly and sustainable practices.
3. Greater Business Opportunities
With improved productivity comes the option to expand. Being able to produce more of a product in a shorter amount of time can allow businesses to expand their customer base, as well as possibly expanding into all new markets.
In addition to greater speed and productivity, technology has led to better safety features than what has typically been available in the past. Automation has led to decreased risk to human operators at nearly every point of the production process. With the addition of video monitoring systems, sensor systems and automatic shut-down features – just to name a few – the potential for harm to employees has been dramatically reduced. Investing in equipment with enhanced safety features just makes sense from any legal, ethical or good business standpoint. A safer work environment is a more productive one.
5. Investing for the Future
Death and taxes may be the only guarantees in life, but that doesn’t mean business owners can’t take steps to guard against an uncertain market. Investing in the right equipment can go a long way to helping companies cut down on unnecessary costs, reduce the margin for human error and streamline the production process – all of which can help when it comes to weathering economic downturns.
Change is rarely easy, but it is often for the better. Replacing outdated, inefficient machinery may be an expensive and time-consuming process, but it will almost always be worth it in the end.