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
Industry News
Milling Machines vs Drill Presses vs Lathes
Navigating the landscape of machining equipment can often feel like charting through a complex maze, especially when deciding between milling machines, drill presses, and lathes. Each tool boasts distinct features and specializes in different aspects of the machining process, catering to specific tasks, from shaping and cutting to drilling and finishing. Understanding the nuances, capabilities, and applications of these machines is crucial for anyone looking to make informed decisions in the fabrication, metalworking, or woodworking fields. Milling Machines Milling machines stand out in the machining world for their ability to shape and cut materials with precision and versatility. These powerful tools utilize rotary cutting tools to remove material from a workpiece, enabling them to perform a wide range of operations such as … [Read more...] about Milling Machines vs Drill Presses vs Lathes
Screening Online Auctions and How to Spot Red Flags
As we embrace the digital era, online auctions have become an integral part of purchasing industrial equipment and machinery. They offer convenience, variety, and often, competitive prices. However, this growing digital marketplace has also seen a rise in fraudulent activities. At Surplus Record, we are committed to fostering a secure and trustworthy environment for our users. That's why we've put together this guide. We'll walk you through essential precautions and strategies to ensure your online auction experience is not just successful, but also safe. Whether you're a seasoned bidder or just beginning your journey into online auctions, this guide will empower you with the knowledge to bid with confidence and security. Identifying Reputable Online Auction Platforms In the vast digital sea of online auction … [Read more...] about Screening Online Auctions and How to Spot Red Flags
Is the August PMI Decline Cause for Concern?
For the first time in nearly three years, the PMI (manufacturing index) registered in negative territory, declining to 49.1 for August 2019. This represents a decline of 2.1 points (or percentage points as ISM reports) from the July report. For those not familiar with the ISM indexes, manufacturing (PMI) and non-manufacturing, a number above 50 indicates economic growth within the sector, whereas a number under 50 indicates contraction. This reported number may (or may not) be cause for concern. But it is important to put this information in context. In this regard, ISM indexes are a composite index of underlying components. These individual elements are also measured on the same scale. According to ISM spokesman and chair of the Manufacturing Business Survey Committee for ISM, Timothy Fiore, “the New Orders Index registered 47.2%, a … [Read more...] about Is the August PMI Decline Cause for Concern?
Hybrids Are Hot!
You’ll notice the special new shiny cover the SR Catalog received this month! This is in celebration of the upcoming 100th year of Surplus Record printed catalogs, as we move forward into 2024. Our actual 100-year anniversary is in November 2024, so keep an eye out for a special edition that month! While we generally focus on a variety of topics, this edition takes a special look at a rapidly evolving sector in the automotive industry. This month, we turn our attention to a technology that many had written off in recent years but is now surging: hybrid vehicles. Remember the humble first-generation Toyota Prius? Originally driven primarily by environmental enthusiasts and tech- geeks (apologies for the generalization), the Toyota Prius ushered in a new era of hybrid drivetrains featuring gas and electric capabilities. Today’s market … [Read more...] about Hybrids Are Hot!
