How to decide whether to repair or replace your industrial equipment?
It is deeply embedded in human nature to always want to get their hands on new and shiny things. From the latest gossip to the newly launched gadgets, they want to be the first ones to get it. But sometimes, fulfiling this desire is not always practically feasible. Manufacturing industries, for instance, cannot always buy the newest machines as they are extremely expensive, and it would be absurd to discard perfectly functional equipment just to get a new one. But if a part of an essential asset has broken down and is causing disruptions to productivity, how will you decide if it just needs a repair or a replacement? Replacing a piece of equipment is no easy task. It requires a huge investment and operating staff would have to learn the operations from scratch. It seems like a daunting task but is sometimes unavoidable. There are several points of consideration before you can decide whether to go for replacement or repair. In this blog, we have discussed the factors involved...