How to Choose Between New, Used, Or Leased Warehouse Equipment
Any inventory specialist knows that a warehouse doesn’t equip itself. From lifting equipment to containers to warehouse safety systems, warehouse equipment is a lot to consider. Almost certainly, the laundry list of equipment your warehouse needs will add up to more than you can afford. For that reason, you might be struggling to decide if you should buy new, used, or lease your warehouse equipment. New equipment in New Zealand might cost a little more, but will used equipment deliver the reliability you expect? Will leasing satisfy the long-term needs of your warehouse?
Every option will have its benefits and concerns and making the right decision for your warehouse could seem a daunting task. Read on to learn what to keep in mind as you consider new, used, or leased warehouse equipment.
Buying New Warehouse Equipment
New warehouse equipment is the most likely to be up-to-date, reliable, undamaged, and well-supported. The world of warehouse equipment is constantly changing, with new innovative solutions appearing on the market every day offering companies a creative edge in improving their logistics. Buying new means your warehouse has what is necessary to operate at its full potential, not just for itself but amongst your competitors. New warehouse equipment also frequently includes free shipping, installation options, and enviable warranties, and meet all current safety standards.
Buying Used Warehouse Equipment
The obvious benefit of used warehouse equipment is the cost. Buying used is the affordable alternative to cutting-edge equipment fresh out of the factory. Even with innovations rife in the logistics world, some things like shelving and benches seldom change. Used equipment might prove worn or damaged but it has also been battle-tested, having proven its mettle in a previous warehouse. Your warehouse equipment supplier will have safety-tested any used equipment before selling it and will likely offer some sort of guarantee for their product, though you’ll want to double check that it satisfies any recent changes in safety standards.
You may also find it necessary on occasion to purchase used equipment if only to save money for investments in new equipment you consider more important. Ultimately, it all comes down to your priorities and the individual demands of your business.
Leasing Warehouse Equipment
Leasing is a viable option for long-term investments in your warehouse. Leasing will cost you more than an up-front purchase, but in exchange, you enjoy a lower initial payment and ongoing payments that are easier to budget for than lump sums.
You may also find that an investment in a new piece of expensive warehouse equipment incentivizes you to get the most out of it to maximize its value. This could tempt you to operate that equipment beyond its usual lifespan, running equipment into the ground to avoid another large expense. For that reason, leasing is a safe option for your warehouse team, who can count on new or otherwise upgraded equipment every three to five years.
New, used, and leased warehouse equipment can all benefit your business
Nobody understands the demands of your warehouse better than you. Be it new, used, or leased equipment, you must find a way to keep everything running smoothly and safely without breaking the bank. Contact us today to see why over 1,700 companies use Dexters for their materials handling needs.
Blog Source: Warehouse Equipment | How to Choose Between New, Used, Or Leased Warehouse Equipment