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When to Replace a Piece of Equipment
For fleet managers one of the toughest parts of the job is when to rebuild or "put out to pasture" an aging piece of equipment. More often than not those decision are based upon instinct and not grounded by hard analytics. This article will shed some light on the five options feet managers can make when evaluating older pieces of equipment. Purchasing a fleet of work trucks or excavators is only half of the battle. More often than not, the heavy equipment needed to do the job, is the biggest capital expense of an industrial service company. Agriculture, Transportation, Construction, Road Maintenance, Mining, Oil and Gas and Marine industries all rely on their fleets to produce sustainable revenue. The life span of each piece of equipment should be factored into not only the initial cost but variable costs of running the equipment. When a fleet manager is evaluating what to do with an aging piece of equipment they need to adequately understand their options, factor in initial and future costs, analyze the resale and depreciation of the equipment and how to improve efficiency when they can. It is not a decision to be made lightly. ... Read more
