5 Reasons To Know When to Rebuild vs Repair Industrial Electronics
Industrial electronics often comes with a hefty price tag and many small businesses make it a policy to use their equipment for as long as possible. While optimizing the useful lifespan of such equipment is often the most frugal approach to take, there may be several factors that should be taken into account when it comes to deciding when to repair or refurbish equipment and when to make a replacement. From warranty plans that will cover repair costs to whether a new purchase may count as a deductible expense choosing the right option at the right time can be of paramount importance.
1. Warranty and Insurance Coverage
Plans and policies that may provide additional funds to either repair or replace equipment can alter the financial cost of any decision by a sizable amount. Such concerns often go overlooked and businesses would do well to double-check to see if there is any coverage or warranty plan in effect. More affordable repairs or the means to offset the cost of a replacement purchase could end tipping the scales when it comes time to make a decision.
2. Time Frame and Equipment Availability
The total cost of repairs or replacement may not be the only expense involved. Equipment that is out of commission can impede productivity or bottleneck critical workflow processes. How soon electronics can be fixed or when a replacement can be installed and brought online are important things to know in order to ensure that the best decisions will be made.
3. Available Finances
Just because replacement equipment may offer the most long-term financial benefit does not always mean that businesses have the funds needed to make such a purchase. Having to make due with repairs due to the confines of a fixed budget is a common enough problem. The funds and financial resources that can be brought to bear on the matter are never issues that should escape notice.
4. Replacement Quality
There are frequently situations where the same make and model of equipment may no longer be available. Replacement options that may be of radically different quality could be a major factor in influencing any decisions that need to be made. The availability of original equipment should be taken into account when deciding when to repair and when to replace.
5. Equipment Upgrades
Equipment that offers newer features can be worth a little extra cost. Upgrades can make purchase and installation costs worthwhile. The features available on both current and future generation equipment may be worth investigating.
Taking steps to minimize overhead costs is important for any business. Knowing when to repair and when to replace industrial electronics or other commercial equipment is often a very important decision. Making the wrong choice could lead to additional costs, complications and greater long-term expense.