It was once believed that the manufacturing industry was experiencing a terminal decline as service-oriented businesses become commonplace. Today, the two are gradually becoming intertwined, fueled in part by the diversity within the manufacturing sector itself and its adoption of sophisticated new technology.
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As the manufacturing industry moves toward the future, many significant changes have been made to develop entire industries. This often requires making efficient work of the procurement of capital assets such as machinery, which needs to be kept on the cutting edge for it a company to maintain its advantage.
Equipment represents one of the largest capital expenditures, and the year 2016 is projected to result in more than $1.484 trillion in investments, fueled by more than ideal rates for financing. These conditions, in addition to tax breaks like IRS Code 179, have made it possible for equipment acquisitions to once again become popular.
Acquiring and purchasing equipment for most manufacturing companies have previously been the road less traveled, largely reserved for specialist equipment that would be near impossible to acquire otherwise. Until recently, renting has been the primary method of procuring needed equipment, which has the advantage of allowing a company to scale up rapidly while conserving capital resources and credit lines.
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Technological adoption also offers to cut back on costs. Tools such as data analytics can help dramatically improve business processes and translate to significant savings in areas like logistics to companies.
A leading trading and investment platform on capital assets, Capital Asset Exchange and Trading provides manufacturers with a complex marketplace of rare equipment to streamline the acquisition and selling processes. For more the company, visit this LinkedIn page.