Heavy machinery and equipment form an integral part of any industry. They ensure a smooth production process and efficiency. However, these devices are prone to breakages, which can frustrate the overall production of the company. Do you have faulty industrial equipment and wondering whether to repair or replace it? Well, both options work well, and all have pros and cons.
Should I repair or replace?
If you manage heavy machinery and equipment, I presume you face this decision often. You can choose to replace your equipment which involves acquiring a new or used machine for your tasks. Similarly, repairing means changing the major components of the device.
With the latter option, you’ll have a new revamped version of the machine, and it will still function like new. Note that repairs involve purchasing high-quality parts from an industrial supplier and replacing the faulty components for optimal functioning of your machine.
Should I repair or replace? Here are questions to help you make an informed decision.
- Is the machine still covered under warranty?
- Is the equipment fully paid?
- Will repairing improve the equipment’s performance?
- Do you need a power upgrade?
- Can its resale value offset the replacement cost?
- Will repairing or replacing optimize your operational cost?
What should I consider when repairing or replacing my machinery?
Before deciding to repair or replace your equipment, there are some aspects to keep in mind. First of all, examine the equipment to verify its current condition and the status of the warranty. Warranties cover most of the maintenance costs within the first few years of the equipment.
If the warranty is still valid, it’ll be cost-effective to repair the equipment.
However, you should meet the warranty terms and regulations. If the issues occur after the expiry of the warranty, you can still opt for repairs or replace the machine altogether. Again, it’s not necessary to replace your machines unless the cost of repairs exceeds half the cost of the replacement machine.
Over time, you may spend more on repairs and may move from minor fixes to major repairs. Therefore, track your equipment maintenance costs to determine the best time to replace the equipment.
When should I repair& What are the benefits?
For minor issues, it’s best to repair than replace the equipment. Go for this option if you still owe payments, and the machine is still under warranty. If only one of two parts need repair, this would be a viable option. Repairing is faster and will allow you to continue with normal industrial processes. Also, it saves a lot of money since it’s associated with minimal interruptions.
When should I replace?
Replacing should be your last option. It’s costly and may interrupt your operations for long. However, this is determined by the level of equipment damages and works best if the repair cost is high, and you have been spending a lot on regular repairs. On the other hand, replacement allows you to buy the latest equipment in the market.
Replacing or repairing your equipment is dependent on multiple factors. Repairs are cost-effective and cause minimal disruptions to the company’s processes. However, if you have been spending a lot on maintenance, maybe it’s time to acquire a brand new machine. This will ensure smooth operations and minimize maintenance costs.