What Equipment Should Your Manufacturing Plant Buy Instead of Rent
Saturday, August 31, 2019, 6:00 AM | Leave Comment
Manufacturing facilities may operate on a 24/7 basis or less frequent hours of operation.
This duration of equipment use affects your decision to buy or rent manufacturing plant equipment.
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Factors that Influence Your Decision to Buy
Logistics and equipment accessibility are two additional factors you should consider. For example, in a thermoplastics additive manufacturing plant, it is more cost-effective to buy industrial hoppers for raw materials that produce plastic powders and pellets for end user clients. In this instance, these industrial hoppers are stationary and located logistically in close proximity to processing and production departments.
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Factors that Influence a Decision to Rent
When manufacturing plants operate on a 24/7 basis, equipment wears more quickly. This is another influencing factor in whether you should rent equipment or buy.
In plants where air compressors, for example, are part of the manufacturing process, it may be more cost-effective to rent this type of equipment.
Generally, industrial equipment like fans, blowers, water softener and boilers can be rented or bought, depending on specifications for use and particular manufacturing process and production specifications, the country of manufacture and cost-effectiveness.
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How Cost Affects Whether to Buy or Rent Manufacturing Equipment
Plant managers endeavor to maintain budgetary constraints with regard to buying or renting equipment and base their decisions on other factors such as equipment reliability and durability.
If production reports show consistent losses for repairs or loss of production time due to equipment downtime, you may choose to rent instead of making a major investment in equipment.
Thus, cost does play a large role in comprehensive manufacturing budgets. The more expensive equipment is likely to be, the more likely your decision to rent becomes.
The other issue related to manufacturing equipment is reduction in operational output. As equipment ages, it loses its original rate of throughput as well as product quality. This causes significant loss of high quality manufactured products.
Existing equipment that has been purchased and begins to show signs of aging is an investment that may be less costly for you to replace on a rental basis.
If your manufacturing plant processes require boiler feed water tanks, such as in the case of water treatment plants, the quality and treatment process may be compromised if the equipment is not operating at the manufacturer’s efficiency rating and operating specifications.
The boiler feed water tanks you choose to rent or buy should meet manufacturing objectives of production of high quality steam, corrosion protection and continuous heat exchange.
