When there is an equipment malfunction in your factory, you are probably indecisive about what is the next step? You might be thinking that you need to only create an action plan to get the machine running, since it will be affecting your productivity, sales and other factors. However, sometimes, a quick solution might not be in your best interests. It is true some assets would just need some repair and they will work like they are brand new. But, it is not the case always and it would benefit you greatly to just to replace the equipment. However, most factory owners would not do it because of the time and cost involved in the replacing. In contradiction, if the machine keeps malfunctioning, then it is much cost efficient to replace it. Here are few tips which will help you determining whether it is better to replace or repair.
Decision based on facts and data
When there is equipment which is brought forth as a topic, for its bad state of functioning or its condition, then you need to make sure that you make a decision based on facts and date about the machine in question. For example, if you are discussing the impracticality or the unfeasibility of conveyor systems design, then you need to ask the designer or project manager or team leader to present literature and testimonials about the design. If you have the particular design already in your company then you need to go for a cost-benefit analysis. You should not make decisions as reactions to the problem arising and the problem that needs addressing rather make analysis and draw conclusions.
Analyse – Cost, equipment, new product and market
When you are planning to repair or replace, make a graph of predicted costs and see what the best course of action is. If it is something to do with the designing, it is better to hire drafting services rather than to just rely on information compiled by your team. It is vital to get opinion from expert. You need to analyse the existing equipment like its age, cost of spare parts in the market, cost of repairs and other factors with the new equipment. In both the scenarios, you need to think of the downtime you will be facing when the equipment is being repaired.
You need to make sure that you do not spend a lot of time and money on unnecessary things.In addition to the above mentioned, make sure to that the employee’s morals, motivation and satisfaction are kept high through different means. This is important when the company is facing issues like breakdowns and downtime because if employees do not feel satisfied, then they will more likely affect the productivity and output of the company.