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Test Equipment - Renting As A Way To Keep Costs At A Minimum

February 28, 2012 | Comments: 0 | Views: 148

Since the recent economic collapse many companies have been busy examining the way they operate and considering best practices to employ to keep costs down and save money. One of the sure fire ways of reducing costs on projects is to revert to an "as needs" basis, whereby you only acquire machinery, capital expenditure and research when absolutely necessary.

These days when it comes to testing and running results analysis on a project it makes much more sense than ever before to rent or lease testing equipment. This is especially true with most modern technologies as development and design is so quick these days that as soon as you have bought a new piece of test equipment it is already yesterdays model. By renting or leasing test apparatus you are pretty much assured to have the latest versions available.

Using leasing or renting as a way of funding projects gives you two direct advantages, firstly you will be running the most up to date equipment available, secondly you save money by not having any machines sitting idle around the workshop or laboratory. Once they have provided the results you require then you simply off-hire them. Instantly saving money.

This form of practice was common three decades ago and at this time a vast hoard of hire and rental companies sprang into existence. As equipment became more reliable and cheaper companies tended to opt for purchasing. Changes in government legislation are likely to mean that the short term hiring of equipment is here to stay this time.

Streamlined budgets, increased utility bills and a lessening of tax breaks are all good reasons to welcome the concept of short term equipment hire. A business is still able to carry out the necessary checks without cluttering up shelves with test equipment that is hardly used and costs a fortune. Nowadays picking up an appliance that is fit for purpose and returning it once the results have been obtained is proving to be a more cost effective way of working.

Short-term or occasional project testing that may have been unpopular previously are far more palatable when it is realised how much money can be saved. Renting will be a fraction of the cost used in capital expenditure when purchasing expensive machines. Instead of laying out vast sums of money that ultimately are only used for a few months, you can get the necessary testing completed and then return the equipment to the hiring company once the project is completed. A definite win, win solution.

As funding becomes ever more restricted and departments are increasingly asked to justify every penny spent, then those that rent or lease major items of machinery are likely to find themselves making a profit much easier and facing far less difficult expenditure questions.

Like many businesses over the last few years, Alex has had to find ways to cut down expenditures. One option is to rent test equipment rather than purchasing it. He has also been looking for surplus test equipment which can often be bought at lower prices.

Source: EzineArticles
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