As Canada’s economy continues to struggle and the cost of goods and services ever rising, companies may be wondering if repairing or remanufacturing their current equipment and components could be a more cost effective option then buying new. Remanufacturing is the process of reconstructing used, worn out or obsolete components so they look and function like brand new parts, often with improvements. Steel products can often be rebuilt using additive manufacturing techniques such as adding material through a welding process and cutting the old piece and adapting new material to restore the component.
Some industrial products that can be remanufactured into new parts include: rollers, shafts, keyways, bushings, pumps, pulleys, thread repairs, some defense equipment, industrial food-processing machines and other automobile parts.
There are quite a few benefits to remanufacturing when budgets are a concern.
Cost Savings
Remanufacturing can be highly beneficial for companies who want to avoid the costs and time involved with ordering a new part. When the price of raw material, overhead and labour to build a new component from scratch are factored in, the charges can add up quickly, driving up the price of a new part, compared to a remanufactured one, especially when existing products can be given a second life.
Remanufactured products, such as cars, machines, tools and other reusable products are much less labour-intensive, compared to manufacturing a new product, making them a much more affordable option, especially if maintained in good working order. The remanufacturing process typically consumes less energy and waste, adding another cost-saving element for companies looking to decrease their operating costs per year.
In addition, the remanufacturing process provides an opportunity to evaluate the product’s design, determining how wear and tear can be mitigated to increase the component’s life cycle, slowing down the aging process and prolonging the part’s usefulness. Shipping is a lot easier, faster and less expensive as remanufactured parts are often done by local manufacturer’s, rather than purchasing components from overseas. This can support the local economy by increasing the number of local jobs, and using local vendors and retailers, driving up the country’s GDP.
Quicker Turnaround Time
Because remanufactured products involve less raw materials, shipping and labour, the turnaround time is usually much quicker than for producing new parts. This is because the existing product is already in place and the blueprint for how to create the original product is already done. Once the components are together, the time to recreate the product and transfer to the end user is usually quite quick.
Environmental Benefits
Because remanufacturing involves reconstructing or restoring existing products to brand new, fully functioning goods, there are very little to no new raw materials required as with original products made from scratch. Raw materials such as metals, stone, wood, and plastics found naturally in the earth, are in finite supply and require intrusive mining, extraction and processing techniques that can degrade the soil, cause water shortages, biodiversity loss, damage the ecosystems and contribute to global warming. Remanufacturing existing products helps to preserve finite reserves of raw materials, lower energy consumption, and reduce CO2 emissions. Older components and parts are kept out of landfills, reducing the overall waste output. Organic material contained in remanufactured products can often recycled or reprocessed, adding a further environmental benefit. Because remanufactured products are often locally produced, regional transportation solutions can be used, which allow businesses to reduce their carbon footprint while reducing costs.
First-rate Warranties
Remanufactured products frequently come with warranties equivalent to those of the original products. This assurance of a warranty offering similar coverage to the original one is advantageous, fostering trust in the business and instilling confidence and security in the customer. Since the remanufactured product adheres to all the specifications of the original, the customer enjoys the full value of a dependable warranty without incurring the extra expense of purchasing an original product.
Remanufacturing is a great option for companies looking to reduce their operating costs, shorten turnaround times, particularly when original products are purchased off-shore, concerned with being a good environmental steward or acting in a socially responsible manner by buying locally and helping to create local jobs.
Whether you need a part ASAP or you’re just trying to lower your carbon footprint, contact a remanufacturer like Corma Industries at www.cormaindustries.ca today for a quote.
