Ideally, retrofits or rebuilds should occur during schedule downtimes or maintenance activities as this is the most cost-effective solution. However, manufacturers often have a rush of projects near year-end to use up any remaining capital for a given year. Unfortunately, this approach may be costly because timing is set by capital and not the machine downtime schedule. Additionally, resources are often more expensive near year-end as demand is higher during this period. Companies, especially within the industrial sector, are becoming increasingly aware of the downtimes and costs resulting from unexpected equipment failures. Machine retrofits are a way of preparing for tomorrow’s manufacturing instead of just reacting to a problem with a rush to update the machine. Companies can prepare for the future by utilizing their automation roadmap, or 3- to 5-year manufacturing plan, to ensure that any investment made in a machine retrofit will not only be applicable in the future, but will also be an advantage as they phase in more Industry 4.0 equipment.
