what do companies benefit from when upgrading machinery?
Depends what you mean by upgrading. A business can upgrade existing machinery to perform faster, better, etc or they can purchase a new machine to replace an older one. With upgrading the business is looking at increasing output, reducing operating costs and improving the efficiency of the machine. A new machine will potentially return less downtime due to breakdowns, but may have teething troubles whilst it settles in. New machinery will have costs involved, not only the purchase cost, but cost of spares, cost of training to operate and maintain, and depreciation. Hope this helps
