When you run a factory, you have to take care of a lot of equipment, and you have to make hard decisions about when to upgrade your machinery. Wondering if it's time to upgrade? If your machinery meets any of the following criteria, it may be time.

Needs Repairs Often

Repairs are inevitable with industrial machinery, but if you're constantly paying for repairs, that can be a waste of money. Track how much you're spending on repairs and crunch the numbers to see what would happen if you put those repair funds toward machinery upgrades. 

Lacks Efficiency

Every year, manufacturers seem to find ways to make equipment more energy efficient. If you're spending excessive amounts on electricity to run your equipment, you may want to compare the current cost of running your machines with the savings you'd receive from a new system. To calculate how much power each machine is using, take its wattage and multiply that by the number of hours you use that machine every day. That gives you the daily kilowatt-hours you consume.

Fails to Meet Safety Regulations

Is your machinery as safe as it should be? If it were produced today, would it meet current safety regulations? If you're not sure of the answers to these questions, you may want to consult with a safety engineer. Then, you can modify your machines as needed or upgrade them.

Doesn't Produce Target Volumes

In some cases, you may simply need to opt for a machinery upgrades so that you can boost the volume of goods that you produce. In this case, you have two basic options: you can keep your existing machine and buy a new one, or you can just invest in a larger machine. If you decide to upgrade to a larger machine and your existing equipment is still safe and efficient, you may want to try to sell your current machinery. That can help to offset some of your costs.

Isn't Smart

You may also want to upgrade your equipment if it isn't smart. Smart machinery connects to WiFi. It has sensors that monitor production levels and the machine's health. Then, the sensors alert you when something is wrong with the machine. That helps you to avoid unexpected breakdowns, and it reduces downtime. You can also connect a number of smart machines so that they communicate together about logistical elements.

To learn more, contact someone who works in machinery upgrades. They can help you decide if you need upgrades or modifications.