Advances in technology affect all processes, but especially those in the manufacturing industry. With rising costs and competition from other jurisdictions, the desire for the latest technology must be balanced against budgetary balance.
However, there are a number of factors to consider when choosing a new machine, as operational costs are not the only consideration.
Safety
Safety is the primary concern when purchasing new machines or equipment. However, when the technology involved has evolved very rapidly or the existing operation has not been upgraded for some time, there can be a number of compatibility issues.
This is usually the case when a small or medium-sized company quickly becomes a much larger company due to an external factor. For example, a producer of hand sanitizer at the beginning of the coronavirus pandemic or a manufacturer of face masks.
When change is forced upon a company and upgrades are implemented in a hurry, there is a temptation to settle for a workaround or temporary solution that is not suitable. In this case, the security of the entire operation may be compromised.
Quality
One would expect that new technologies would improve production quality while increasing the production rate, but this is not always the case. In addition to potential compatibility issues with a new technology with existing equipment, any new machine needs a short break-in period and full calibration for its task.
Operators will also need to be retrained, and this type of upheaval will affect production consistency and, inevitably, quality. While this is only a temporary issue, it will negatively impact any operation already running at full capacity.
Footprint
Another factor to consider is available space. While technological advances generally allow for smaller facilities, this is not always the case. In most cases, production must be increased and new machines are an addition rather than an upgrade.
In such circumstances, the size of the machine can be the determining factor in the choice. This is why many reputable suppliers of industrial equipment (PDX Gold is one example) offer their product line with different footprints.
Production rate
A new technology normally brings a faster production rate than before once the start-up problems are solved. This is usually a positive factor, but it also means that other parts of the business need to be evaluated.
Clearly, the demand is there (otherwise there would be no reason to implement the new technology), but the increase in production will increase the demand on the supply chain and the resulting storage and distribution processes, which may also need to be upgraded.
Cost
These other areas make it clear that the cost of implementing a new technology in an existing operation is more important than just the price of the equipment itself, and has a ripple effect on all work practices and the entire manufacturing process.