One of the biggest undertakings both financially and physically a factory can find themselves in is making the decision about upgrading important equipment. How can you pull the trigger with confidence? Consider these important tips to tell if you’re ready to upgrade.
Conduct a feasibility study to determine the pros and cons of upgrading. You need to consider not only the cost of upgrading, but the time spent training on new equipment (if any), what costs may be incurred to remarket a product and how your key clients might be affected, among other things. After your study results are in, it’s time to meet with your key people.
Ask your team what kind of growth the company can expect to achieve with new upgrades. Often this will help sway the decision. What kind of growth will result from higher, more consistent quality and lower cost for achievement? Often this can help answer issues about pricing pressure, as well, since savings from efficiency can help relieve some of this pressure.
Consider whether a customized option might make the most sense financially and for the outcome of your product. For example, mixing is an essential piece of the manufacturing puzzle for many industries. But traditional mixing, involving heating tanks and mechanical mixers, is not only energy inefficient, but can waste key materials in the process. An inline static mixer, on the other hand, can be customized to your specifications and plant floor needs. In many cases, solving a specific manufacturing problem with a customized solution saves both the bottom line and improves product quality.
Komax has decades of experience working with companies looking to revitalize their manufacturing process. Consult with us on how to determine a suitable, customized upgrade of your equipment.