Purchasing

6. Equipment Specifications

6.1 If you do buy or lease equipment, think through your requirements. For example:

• Technical specifications - output per hour, accuracy, wastage, controls, safety, reliability, and the machine's life expectancy. Consider how you will use the equipment. A more expensive piece of equipment may save you money in the long term.
• Compatibility - with other equipment, available power supplies and your premises (especially if the building is old).
• Guarantees - will the seller still be around to honour the promises made now?
• Technical support - assume everything will go wrong. How soon will help come? Will spare parts be available? How experienced are the engineers? How steep will the charges be?
• Technical skills or training required - will you need to hire specialist staff?
• Options for expansion and upgrading - or will the equipment soon be obsolete?

6.2 What are the true costs?

• Purchase price.
• Delivery and installation costs.
• Maintenance costs - service and repairs, including parts.
• Running costs - power, lubrication, cooling and consumables.