Many entrepreneurs believe that purchasing new manufacturing equipment is the option when replacing failing machinery. Sometimes buying a new piece of equipment is the only option. This is true when technology has changed and used or refurbished equipment will not keep pace with the changes. Other times the technology stays consistent; the perfect time to save your company some money with the purchase of used or refurbished manufacturing equipment. Assess the needs of your company to decide if new, used or refurbished equipment is the best option for your company.
Consider the following:
Initial Expense
Operating Costs
Product Warranties
Equipment Guarantees
After Sales Support
Safety
New Equipment Purchase
Buying new manufacturing equipment provides many advantages; the number one benefit is the technology updates that are offered when using new equipment. Brand new manufacturing equipment offers your facility a competitive edge and can influence the efficiency of your facility. Another benefit of purchasing new equipment is the ability to purchase extended warranties, service plans and the advantage that new equipment brings “piece of mind” to the purchaser. The downfall, new equipment is expensive. Be sure to budget in the cost for set up and training.
Refurbished Equipment Purchase
Purchasing refurbished equipment or refurbished electronic parts to repair equipment is a great alternative for companies. Refurbished electrical components and refurbished equipment is full disassembled, repaired, updated and then reassembled. Refurbished equipment is less expensive than new equipment often including similar warranties, customer service and guarantees depending on the manufacturer that equipment is purchased through.
Used Equipment Purchase
When choosing to purchase used manufacturing equipment it can surely be less expensive initially out of pocket. The overall cost of the equipment and components for repairs can be only a fraction of the original cost of new equipment. Many companies will sell DEMO manufacturing equipment as used machinery. When buying used manufacturing equipment is up to you to check out the overall condition of the equipment. You will want to see the equipment in working order to ensure it is in order. Also, be sure to have complete proper documentations on the equipment whenever you purchasing used manufacturing equipment. This will make buying components to repair equipment simpler if it is to malfunction.
No matter what you choose, new, used or refurbished, it is crucial that the equipment meets safety standards. The equipment must be safe to use. Make sure to also do a cost analysis; what is the difference between purchasing new equipment and keeping refurbished and used equipment running in like new condition.
J&P Electrical is a full service electrical equipment company. At J&P, we supply contractors, end users and supply houses with new surplus, quality reconditioned and obsolete electrical equipment. Contact us today at https://jpelectricalcompany.com for all of your bus plug, circuit breaker, switchboard, fuses, disconnects and more.
