Nobody can predict with certainty when the Federal Reserve will cut interest rates, which soared to their highest levels in more than 20 years, nor how many cuts will occur. Nevertheless, most financial experts agree that the outlook for lower financing costs looks promising.
If your company suspended or paused capital expenditures in response to economic uncertainty, now is the time to get fluid and metal scrap processing projects moving again to ensure their timely completion. Engaging with equipment suppliers sooner rather than later can help ensure capex investments promptly make a positive impact on operations when the cost of borrowing decreases.
This doesn’t necessarily mean you need to sign a contract or purchase order immediately. Rather, connect with solutions providers to initiate a quoting process or blow the dust off a project that was put on hold. Taking these steps early will help your operation:
When it comes to fluid and metal scrap processing equipment installations, materials need to be tested to ensure the product specification will deliver the best results to the operation. This step, along with careful documentation of the expected return on investment, can help waste stream investments compete for dollars prioritized for production enhancements.
“For compliance managers and suppliers of waste reduction and recycling systems, securing capital funding for waste stream management is a common struggle,” a recent Industry Today article noted. “Establishing stakeholder buy-in is key to advancing waste stream processing.”
For advice on how to secure approval from decision-makers for waste stream processing improvements, read this Industry Today article. To learn how your operation can optimize its waste stream processing, visit PRAB.com and connect with a fluid recycling or chip processing expert today.
