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Lubricant dispensing systems like our industry leading LUBESTATION® are an essential part of mining maintenance operations. They help to ensure that equipment is properly lubricated, which helps to optimise performance, prolong the life of the machinery, and reduce downtime. When it comes to procuring a lubricant dispensing system, mining professionals have two options: they can purchase their system, or they can hire one.
The pros of purchasing a lubricant dispensing system
Cost savings in the long run
Over time, the cost of hiring a lubricant dispensing system can add up and exceed the cost of purchasing one outright.
When you own the system, you have the flexibility to customise it to meet your specific needs. This can include adding features that are not available with a standard system or modifying the system to work with specific types of lubricants or dispensing equipment.
When you own a lubricant dispensing system, you can schedule lubrication maintenance at a time that is convenient for your operations rather than having to wait for a hired system to become available. This can help minimise downtime caused by equipment failure or breakdowns.
The cons of purchasing a lubricant dispensing system
A lubricant dispensing system is a large capital investment, which means that purchasing it outright might not be feasible for some businesses. Upfront cost can be significant for some companies, particularly for small to medium-sized operations. This can make it difficult for them to make the necessary investment in the equipment.
The pros of hiring a lubricant dispensing system
By hiring a lubricant dispensing system, businesses can avoid the upfront cost of purchasing one outright. Instead, they can spread the cost of the system over time, which can help to make it more affordable. In some cases, hire payments may be tax-deductible, further lowering the overall cost of the equipment.
Flexibility in changing circumstances
Hiring a lubricant dispensing system provides flexibility in the changing circumstances of a mining operation by allowing the operation to adjust the number and types of systems in use to match the changing demand, equipment, and operational needs. It also allows them access to the latest technologies and features without committing to a long-term investment.
Reduced business risk
Hiring a lubricant dispensing system can reduce business risk by allowing the return of the system at the end of the hire period, which can help avoid owning equipment that is no longer necessary for the business, minimising storage costs, and reducing disposal costs. Hiring also allows businesses to adapt to market changes quickly. This can be especially important in the mining industry, where market conditions change rapidly.
The cons of hiring a lubricant dispensing system
Limited customisation options
When hiring a Lubricant dispensing system, customisation options will be limited. This means that if you have unique or specialised equipment that requires specific lubrication needs, the system may not be able to meet the exact needs of the operation.
Cost of renting overtime
As mentioned previously, rental costs can add up over time and sometimes exceed the cost of purchasing outright. Consider the size of your mining operation and its expected duration – purchasing may be more cost-effective for larger operations or operations expected to last a long time.
Both purchasing and hiring a lubricant dispensing system can be the right decision depending on the circumstances, your specific needs, and budget. Larger mining operations or those with specific lubrication requirements may benefit from purchasing a fully customised system, while smaller mining operations or those with limited budgets may benefit more from hiring a system. Ultimately, the decision should be based on the specific needs of the mining operation and the resources available to it.
If you need help deciding on which option is best for you, our technical sales consultants are happy to help and can be reached at 1300 242 504 or email@example.com