Managing a business means that you always have an eye on your budget. In the machining business, a good portion of that budget goes into upkeep and equipment costs, which can add up. If you’re looking for ways to cut down on unnecessary spending, here are a few tips for saving money in your machine shop.
Use the Right Tools
A great place to focus your money-saving efforts is your machine shop equipment. Your equipment has a lot of influence on your shop's efficiency and production, so make sure that you are using all the right tools. Some specific tool can help increase your shop’s production speed. For example, this is one advantage of using a belt grinder. Like the belt grinder, some tools have multi-purpose functions and can reduce the need for buying more tools than necessary.
Use Technology
Tools aren’t the only thing you’ll need to use in your machine shop. You’ll also need to use quite a bit of software, especially when it comes to financial reporting, employee management, and similar areas. You should make sure you have the right technology in place to make it as easy as possible.
Netsuite AP automation, for example, cuts down on the amount of time you need to spend overseeing your payroll, helping you cut down on costs. By implementing it and similar software across your machine shop, you can make sure it runs effectively without you needing to spend much money on it.
Maximize Tools and Materials
One of the most effective ways to save money around your workshop is to get the most out of your working materials and equipment. Machine shops will often swap out consumables such as drill bits, coolants, end mills, saw blades, and more before these items are fully utilized. Make sure to inspect your materials closely—if you think you can get even a few more uses out of a blade or drill before changing it, don’t change it prematurely. Although, make safe choices and swap out items when necessary, or you may risk having malfunctioning equipment on your hands.
Equipment Repair VS. Replacements
After making your equipment inspections, you may notice your tools are damaged or slowing down production. Rather than tossing them and ordering new ones, see if you can schedule repairs for them. Often, repairing tools is less expensive than buying brand-new models. On the other hand, sometimes a tool may require so many repairs in a short amount of time that it would save you money in the long run to replace it. Look into a local machine repair service for the best recommendations for each tool.
If you’re managing your shop on a tight budget, try these tips for saving money in your machine shop. You’d be surprised by how much you can save by implementing a few small changes such as these.