Repurposing manufacturing equipment
Many companies, of every type and kind, are looking to cut costs in whatever way they can. One way that some manufacturing plants have chosen to do so is through repurposing equipment. This can be a significant way to cut costs, especially in a volatile economy. When it comes to running a manufacturing business, cutting costs and eliminating waste are vital to keep your business profitable, for the long term. Repurposing is considered an excellent way for manufacturers to cut costs. It allows a business to take existing equipment, and, rather than purchase brand new, upgrade it so it better meets the needs, of the production process.
Repurposing is when a business takes an existing process or piece of equipment, and uses it for something, other than what it was originally intended to do. Repurposing can also mean improving upon or making upgrades, to an existing machine or piece of equipment, so it runs faster or better, without having to spend the money on a new machine. Repurposing can be anything from small changes to a complete overhaul of a piece of equipment.
It is important to keep in mind that when it comes to manufacturing, choosing the right equipment can make or break the job. The right equipment can determine how the company operates, and whether or not it gets the job done in a timely manner, and getting it done right. Choosing the right equipment should be on the top of your list if you're in the manufacturing business. If you choose the right equipment, you will be left with a resource that can be repurposed when the time is right.
Repurposing of equipment is especially important, in manufacturing. New technology and new machines with better, faster, and more expensive parts and pieces of equipment would be nice to have, but the reality is that they can't always be afforded. Coupling that with the fast rate at which technology changes, it is expensive to keep up with equipment that is continually evolving. So, instead, manufacturers are turning to repurposing.
You can know when repurposing is right. It is easy to determine when it is time to change up your equipment. Some of these factors are-
- You notice a steady decline in sales
- Your return rate is higher and your defect rate is increasing
- Your machine is requiring constant maintenance and costly repairs
- You are unable to obtain the parts needed to make your machines run effectively
Repurposing cut costs in many different ways. Some of these include:
- Repurposing eliminates the need to purchase all new equipment. Using repurposing, you are making improvements on the ones you already have.
- Repurposing cuts down on upgrade costs. While some equipment is constantly coming out with upgraded versions or better technology, repurposing makes it so you don't have to spend as much on these.
- Repurposing allows you to save money. By spending less money on new equipment, you can save money for other day to day operations. This is particularly useful if you find the economy has taken a toll on your business.
It is important to note that repurposing is successful when organizations work together to come up with ideas that can help their company cut costs. This is where many different types of improvement that can come into play. Six Sigma has been very useful for many organizations that are looking to improve their existing processes, as it teaches businesses ways to improve on already-existing components of an organization. Many successful businesses have come up with ideas to repurpose a variety of equipment, through their Six Sigma efforts and brainstorming.