Pros and Cons of Buying New Machine

In an industry where businesses rely on heavy machinery let it be of pharmaceutical, construction, textile weaving or any other industry. Purchase of a new machine is always a task where company owners tend to think over again and again and then finalizes their decision. In order to take such decision smartly, below we have come with some pros and cons to help owners make the right decision: Pros of buying a new machine Updated Technology Feature: Buying new machinery means you are directly applying a technology update in the machines. Tech friendly machines can make your job easier and handling of newly designed advance hi-tech machines are much easier and safer. Such machines in your warehouse give you an edge over your competition. New Machine equals More Production: New machine brings expectations and its righty so, the machine is expected to produce more production units easily and, in less time, than the used equipment. You are likely to meet your production targets and sales can be increased indirectly. More time on running than on repairing: Used machines always demands minor or major repairs during the production process and hence takes time on a day that can affect overall production unit target per day. When you bring in a new machine you basically kill all that time loss of repairs and can extend the machine functionality time. New Machine is more safe and secure in handling: As mentioned above, hi-tech new machines come with easy handling options and safe and secure made that enables labor to work around such huge machinery with lesser fear of accidents or injuries. When the risk of injury is less on-site then the production result improves directly. Cons of Buying New Machine: The ideal situation is a myth, fantasy and it’s a fact that buying a new machine has its advantages as well as disadvantages too. Most of the companies prefer buying used equipment over new and finds themselves in a better position by spending low cost on machines. However, all this is co-related to the circumstances a company has. Let us review some of the basic cons of buying a new machine. Costly choice: Brand New Machine can be expensive and may cost the company a huge blow. You can always find the machinery of your preference underused equipment and that will cost you less than going for a new one. Moreover, other than the principal cost of the new machine, there is another upfront cost as well that sums up into a huge amount. Timely requirement of the machine: Many companies work as per the projects they acquire and hence according to the need they acquire machines on lease or rent and save their cost on spending over buying of new machinery. So, if you are buying new machinery just to complete a project specifically then spending millions won’t be a wise choice. Training Cost on New Machine: Buying a new machine means training of employees and labor. This may cost you an additional amount as it takes time and money to train labor and employees. It’s not wise to overlook training sessions and always suggested by industry trends that professional trainers should be hired to perform the task. Hence this shows that buying new equipment in an industrial business is not a decision you take in a single day and all actions and plans must be taken into consideration before executing a plan. Hope this helps your company identifies some of the basic pros and cons of buying a new machine. Author Bio: This article is written by Jamshed Tariq who is the Business Analyst as well as industrial writer at number one online B2B marketplace

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