When investing in new machinery and processes , manufacturers can get ahead of the game with customised equipment .
Made to measure
Customised material handling equipment improves manufacturing efficiency
According to Deloitte ’ s 2024 Manufacturing industry outlook report , “ technology will likely remain a pivotal force in driving efficiency , resilience and innovation in the supply chain .” On fast-paced production lines where time is of the essence , integrating new equipment demands swiftness . So , how can manufacturers proactively tackle these challenges ? Here , Stephen Harding , managing director of Gough Engineering , explains why the answer lies in customised material handling equipment .
Investments in new machinery and processes will be vital if manufacturers are to navigate industry challenges , foster growth and remain competitive . However ,
54 FDPP - www . fdpp . co . uk investing in new equipment is far from straightforward . Securing budget allocations can be a challenge , requiring meticulous consideration of the potential returns on investment ( ROI ), as well as financial metrics such as profitability and cash flow .
To calculate the ROI , manufacturers must identify their reasons for investing in the new machinery in the first place . These goals and objectives might include increased production efficiency , improved product quality or enhanced production capacity . Next , a comprehensive cost analysis is needed that encompasses the initial investment and related ongoing operational costs .
In other words , investing in new equipment necessitates a delicate balance between capital expenditures ( CAPEX ) and operating expenditures ( OPEX ). The former includes purchase costs , installation , training and any necessary infrastructure changes on the factory floor . OPEX encompasses the ongoing costs associated with day-to-day operations , such as utilities , planned and unplanned maintenance , salaries and supplies for expected reliability and performance .
These decisions must also be made quickly so that manufacturers can swiftly integrate advanced equipment into their lines . So , how can manufacturers get ahead