Equipment failure can be costly. Know the signs of dysfunctional equipment to maintain peak production performance.
Manufacturers must be vigilant when observing their production lines. Faulty and aging equipment can cost companies thousands or even millions of dollars, putting them at risk of bankruptcy.
Learn the three signs that you need new equipment below to stay ahead of equipment failure.
How to know when you need new industrial equipment
Industrial equipment doesn’t last forever
Obsolescence is the death of technology: from cell phones to cars to welding machines, nothing lasts forever.
Obsolescence can occur for a multitude of reasons:
- Technological obsolescence: when parts or equipment become obsolete due to changes in technology
- Functional obsolescence: when the manufacturer’s needs have changed and the equipment becomes obsolete
- Legal obsolescence: when laws or other orders prohibit the use of parts or equipment
- Style/Aesthetic obsolescence: when the style of parts or equipment is thought to be outdated and becomes obsolete
- Economic obsolescence: when parts or equipment become obsolete because there is a more cost-effective alternative
Once your equipment is no longer responding to maintenance and repairs, then you know your equipment has become obsolete.
Danger of waiting too long to replace equipment
Taking time to evaluate the status of your equipment is a good thing. You never want to rush into a purchase.
However, waiting too long to replace your industrial equipment can result in some potentially disastrous effects on your productivity and your wallet if your equipment fails during production.
- Downtime: Unplanned downtime can cost an average of $5,200 per minute. This astronomical number can sink your bottom line and leave you scrambling to catch up.
- Lead time: Customer orders will take longer to manufacture, process, and ship when equipment fail. This could wreak havoc on your relationship with your customers and potentially cost you sales in the long-term.
- Limited options: When you are under a time crunch to get new equipment, your options are limited. This may mean that you choose the most convenient option rather than the most cost-effective one.
If you wait until the last minute to replace your industrial equipment, you’ll run into these issues that can have long-lasting negative effects on your company.
3 signs you need to get new industrial equipment
Thankfully, you don’t have to be at the mercy of equipment failure. Stay alert for these three signs that you need to get new industrial equipment before they fail.
1. Repairs occur more frequently
Repairs are simply a reality when it comes to equipment that is used heavily for long hours. However, with the exceptions of accidents or overuse, equipment shouldn’t require repairs and parts replacements more frequently than the usual maintenance schedule.
If you notice that your equipment isn’t functioning without constant repairs, then it’s time to find new equipment.
2. Manufacturing productivity drops
However, when productivity begins to drop, analyze production data to find the source. If it turns out that your equipment is getting old and doesn’t provide the same performance capabilities it used to, then it would benefit you in the long run to replace the equipment and return to maximum efficiency.
3. Products aren’t manufactured properly
Manufacturing defects can be costly. In the food industry, the average cost of a recall is $10 million just in direct costs. That can be painful for an enterprise-level business, and a fatal blow to a small manufacturing company.
Equipment that is failing to produce at normal levels will cause product quality to suffer as well.
Extend the life of your equipment
While equipment is still functioning properly, you can take action to extend the life of your equipment. Some measures to enhance machine performance and quality include:
- Keeping up with maintenance: Be diligent with maintenance schedules. Refer to the manufacturer’s guide to find the recommended maintenance schedule and note it in a calendar to ensure you don’t miss a step.
- Reconditioning equipment: Get your equipment reconditioned to replace old parts and grease, clean the interior components, and more. At iGAM, we offer 3 tiers of reconditioning services to help you extend the life of your equipment.
- Lean manufacturing methodology: Use lean manufacturing methods such as kaizen, kanban, or 5S to use your equipment in the most effective and efficient way possible.
With a proactive approach, you can save money on new equipment costs and prevent downtime on the production floor.
Stay ahead of equipment failure
Need new equipment? iGAM has you covered!
We carry thousands of used industrial automation and manufacturing equipment in our online marketplace. From refurbished KUKA robots to Allen-Bradley circuit protection equipment, we have the equipment you need to meet your production goals. Plus, our equipment is listed at up to 80 percent off retail price.
iGAM also offers financing so you can automate your facility on a budget!
iGAM offers two ways to finance:
- Fill out the quick application on the product page and choose the best financing plan from the nation’s top lenders.
- Apply for credit with our partner Behalf and purchase any equipment you need while making low monthly payments.
Stay ahead of equipment failure without breaking the budget. Visit our Financing page to learn more about our financing options.
Get the equipment you need at up to 80 percent off at iGAM
iGAM is the leading online marketplace for used industrial robots, robot parts, and robotics equipment.
We specialize in providing affordable products that meet the demands of your business and enjoy working with our customers to deliver the results they expect. With unbeatable prices, selection, and customer service, iGAM aims to be the ultimate destination for automation products across the industry and an essential part of every manufacturer's asset management strategy.
Visit our website today to view thousands of refurbished industrial equipment products.