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 equipment … [Read more...] about Closing? Setting a Strategy to Sell All Your Inventory at Once
Industry News
10 Must-Have Metalworking Tools
In the dynamic world of metalworking, having the right tools at your disposal can make the difference between a masterful creation and a missed opportunity. From precision machining to intricate hand-craftsmanship, the metalworking industry requires a diverse set of instruments to meet its myriad challenges. For those looking to bolster their collection or dive into the industry, Surplus Record offers a curated selection of quality metalworking equipment, ensuring that you always have access to the best tools for the job. Let's delve into the must-have tools every metalworker should consider. Press Brake The press brake is a pivotal tool in metal fabrication, is specially designed to bend sheet and plate materials with precision. By leveraging its punches and dies, it molds metals into the desired structures necessary for various … [Read more...] about 10 Must-Have Metalworking Tools
The Vanishing Machinist: A Looming Crisis in Machine Shops
When some people (of a certain generation) think of an iconic image of the American manufacturing worker, they conjure up a picture of Rosy the Riveter, that hallmark of WWII who kept US industrial production going when men of the finest generation the world has ever seen went off to defend freedom and liberty for all of mankind. But we would like to propose that just an important an icon of American production, the machinist, deserves a seat with Rosy in the Hall of Fame of manufacturing. And no, we’re not referring to Christian Bale in the namesake psycho-thriller from 2004, but everyday machinists. Once the backbone of the US industrial sector, these skilled workers, masters in the arts of metalworking, machine repair, and maintenance, are gradually fading from the workforce. Machinists are trained, not educated. A machinist … [Read more...] about The Vanishing Machinist: A Looming Crisis in Machine Shops
Should You Trust AI in Manufacturing?
In our day jobs, we analyze, build and invest in technologies that leverage AI and machine learning to do things such as optimizing procurement cost savings strategies based on an underlying price forecast for a particular grade of metal. This can tell manufacturers when to lock into long-term agreements with a supplier, when to float the underlying material price via an index, when to buy on the spot market, etc. We’ve found AI (especially neural networks for price prediction) to be a pretty exceptional tool in our technology crib for building solutions which enable manufacturers to do things they could not previously accomplish with the same degree of efficiency, speed and consistency — not to mention delivering a superior outcome. Moreover, in one of the companies we run, we estimate that we are doing the work of at least twice the … [Read more...] about Should You Trust AI in Manufacturing?
New vs Used Electric Motors: Which is Right for You?
Choosing between new and used electric motors involves more than just comparing price tags. It's a decision that impacts not only your immediate budget but also the long-term efficiency and reliability of your machinery. Whether you're running a small workshop or managing a large industrial operation, understanding the pros and cons of new versus used electric motors is crucial in making an informed decision that aligns with your operational needs and financial constraints. Benefits of Used Electric Motors Purchasing used electric motors vs new offers several advantages, especially for businesses looking to balance cost-effectiveness with performance. Key benefits include: Benefits of New Electric Motors Opting for new electric motors brings distinct advantages, ensuring that businesses are equipped with the … [Read more...] about New vs Used Electric Motors: Which is Right for You?
