The Oxford English Dictionary defines survival, “as the state of continuing to live or exist, often despite difficulty or danger.” Many manufacturers in the quarters to come may find themselves in a survival state given a combination of sector dependent inflation/deflation, inventory challenges, employment woes, supply chain disruptions and declining consumer demand. And those lucky ones which do emerge partially or fully unscathed would do well to prepare for the worst even if they emerge among the best. Surviving -- let alone thriving -- in this climate will be easier said than done. And it will require looking beyond the headlines. For example, it would be easy to read a popular business newspaper, magazine, or online journal in June of this year, and believe that we were still living through unbridled economic inflation across what … [Read more...] about Manufacturing: Surviving Inflation, Supply Chain and Stock Market Woes
Industry News
Appraising Machinery and Equipment: The Valuation Process
Management guru Jack Welch once said, “You got to be rigorous in your appraisal system. The biggest cowards are managers who don’t let people know where they stand.” He was discussing performance appraisals and measuring how well people are doing their jobs, but the same is true when determining the value of physical assets. If managers aren’t aware of the worth of a particular piece of equipment, they will struggle to evaluate how much value it contributes to the business. They will remain unaware of whether or not it efficiently aids operations. They will remain unable to apply for certain kinds of loans. And they will not be able to have any confidence about receiving a fair price when time comes to sell it on the secondary market. In this article, we will explain what machinery and equipment appraisal is, why you should perform … [Read more...] about Appraising Machinery and Equipment: The Valuation Process
Closing? Setting a Strategy to Sell All Your Inventory at Once
Every year hundreds of small business owners in the USA and Canada are retiring or closing up shop and moving on to the next phase of their life. While many of these businesses are able to sell themselves to a larger company or competitor, or perhaps they have a successor lined up to take the reins. It’s not always clear what happens when there’s no one ready to take over and run your business. This is a much more common problem in the year 2022 than it was 20-30 years ago. The hands on, machinery, manufacturing, “blue collar” type skill set is becoming rarer with each passing year. It’s shocking to see that many of these businesses, while very profitable, end up closing their doors for good when the primary owner retires, but that’s the reality we live in now. So, what do you do with all that machinery and … [Read more...] about Closing? Setting a Strategy to Sell All Your Inventory at Once
Top 3 Ways to Sell your Used Machinery and Electrical Equipment for the Most Money
Whether you are trying to sell one machine that’s been sitting in your plant or garage collecting dust or trying to offload dozens of machines & equipment as you close or upgrade your plant, there’s a lot of resources out there for you to use, but which ones are the best? And how do you know who you can trust? And perhaps most importantly, where do you make the most money? Whether you are trying to make the most money for your used and surplus machinery or just trying to offload the machine, we’ll help guide you on your best options. We’ve been helping dealers and regular people like you sell machinery for 98 years now, so let us point you in the right direction. We’ve narrowed it down to 3 main options which you can read in depth below: I want to make the most money!Don’t care about money, just get this machine out of … [Read more...] about Top 3 Ways to Sell your Used Machinery and Electrical Equipment for the Most Money
How Do Electric Motors Work?
When it comes to heavy machinery, electric motors are everywhere, and support almost every large machine out there. They are crucial in the industrial world, and without them productivity would come to a halt. They are found in fans, blowers, pumps, elevators, gears, various machine tools, household appliances, and electric cars. An electrical motor converts electrical energy into mechanical energy. They are highly efficient, don’t pollute the air, are typically lightweight, and much cheaper than a combustible engine. Electric motors produce torque which is then used to propel an external mechanism. There are two main types of motors, AC Motors and DC Motors. AC Motors The AC electric motor is driven by an alternating … [Read more...] about How Do Electric Motors Work?
