The guys in Washington might be saying the recession is over, but try telling that to the struggling businesses and the 9.1% unemployed. The fact is, times are tough for businesses. One does not have to be an economist to know that, in a down economy, businesses have less capital to invest, especially when banks are lending at an all time low. What is the solution for an NDT service company when they require an inspection tool but do not have the capital? NDT equipment rental companies have been delivering the answer. Many businesses are not aware of the advantages a rental company has to offer a business and how it can help a company grow.
NDT rental companies provide a quick solution to any business in a capital crunch or with an inability to obtain a loan from the bank. Why tie up much-needed capital when, for a fraction of the cost of ownership, a business can rent almost any NDT tool? Rental companies offer the ability to rent a tool daily, weekly, 4-weekly or even long-term. The rental frees up capital tied to owning the equipment while still getting to use that equipment.
Not in a capital crunch and the bank is the company’s best friend? An operation may still need the service of a NDT rental company. On the day of the job, how many times has a technician realized the equipment is out of calibration, deep discharged or does not function? I have heard too many of these sad stories. All of these issues result in lost time and revenue. With a NDT rental company, the equipment is calibrated, fully charged and ready to go, saving on calibration, maintenance and other hidden costs of ownership.
What about the age of the company’s existing equipment? Every year manufacturers come out with the latest technology. It is only a matter of a few years before NDT tools are considered outdated. Customers might not want outdated equipment on the job site or have seen competitors showing off their new tools. This forces the purchase of the latest equipment. NDT rental companies always have the latest NDT tools on the market, allowing the job to get done with the best tool on the market at a fraction of the cost of ownership.
What about inventory? Inventory is always in issue with NDT companies. How many NDT tools are on hand, where is the equipment located and who has it right now? Unfortunately, sometimes these are difficult questions to answer. I have heard many stories about how UT gauges spring legs and “walk off” job sites. Or inventory was incorrect and fewer tools were available then thought. Lost or incorrect inventory costs time and money. Rental equipment eliminates the need for tracking inventory. It frees up time and money for other important issues.
Still need to be convinced that rental might be a valid option? How about when booking an unexpected job? Many rentals result from unexpected work at the site. For example, a company is contracted to do one job but the customer is now requesting more work be done. Not owning the right equipment to complete the extra work could jeopardize the contract. One call to an NDT rental company and the equipment can be shipped overnight or delivered the same day.
NDT rentals are a great way of doing business. It results in freed up capital for more important jobs. Rentals can assure that the latest and greatest equipment can be on the job site, calibrated, fully charged and ready to go while saving on calibration and other costs. Rentals free up the time and money associated with keeping an inventory and make it easier to handle the unexpected workload. For these reasons, and a few more, the NDT rental market is a key in a struggling economy.NDT