The Importance of Choosing the Right Capital Equipment to Succeed in Manufacturing

In India is the 6th largest economy by the conservative nominal GDP method and the 3rd largest by Purchasing Power Parity (PPP) method. Since 2015, it has become the fastest growing major economy. At 132 crore people it is a large market that demands various industrially manufactured products. With growing incomes, the Indian customers have been fueling growth of various products.

In this digital era, the needs of customers have been changing in India due to customers’ exposure to innovation and newer products. Indians entering the middle class have newer and different aspirations than their parents. They want different and better kinds of products. The Indian manufacturing units also have to respond to match the customer expectations to continue to not only thrive but also to avoid declining sales and turnover. Many a times, it is not possible to improve quality with the same old equipment. Thus the high demand towards better products and services has compelled manufacturing units to opt for new capital equipment. The right capital equipment can give a strategic advantage in the competitive marketplace.

In order to match this customer demand, there is a need for newer, larger and efficient factories with the right equipment. Considering the current scenario, the capital equipment which fulfill the below listed criteria are considered to give advantages to a manufacturing plant

• Capital equipment that gives better finish
• Equipment that produces more cost efficiently as India is a cost conscious country.
• Capital equipment that is durable and reliable with efficient performance and which does not fail regularly causing inconvenience to customers and delays in production.
• Energy efficient equipment
• Ensures safety and healthy environment at workplace.

Let us explain the importance of choosing the right capital equipment using the industrial fans as an example which is one of the common elements of a factory. Large heavy duty industrial fans form part of the critical process when it comes to industries like power plants, cement plants, steel plants and petroleum, oil and gas plants. Here it is important to choose the right equipment manufacturer since the non-performance of the process fan equipment is as good as the entire factory shutting down. Not only that, the industrial fans should be reliable and robust to enable working for years and sustain harsh environmental conditions. Secondly, as it is a critical process it needs to run continuously in order to result in consistency in the production output. Apart from these factors, being energy efficient will offer cost advantages.

Manufacturing plant production in different industries involves a variety of unique processes. Some of these processes can create harsh environment and can cause difficulty to work. Such hazardous situations can be avoided using efficient and heavy duty industrial fans. Further, an industrial fan that is customized and designed correctly to fit with the other equipment can enable high efficiency in the work output.

For all the reason above choosing the right capital equipment can help in winning in the market place. It is important to buy the right capital equipment to get an edge in the competitive Indian manufacturing industry. However, there is a paradox in capital equipment purchasing, when the demand from customers is high many manufacturers typically want to expand their capacities at the same time. However, as industrial equipment is typically not available off the shelf, the manufacturer has to wait for weeks or months to get delivery of the equipment. This adds another complexity to expand the production at the right time. For all the reasons above, a smart approach to capital equipment purchasing is an important element of success for manufacturing units.