For businesses that make use of bar codes and RFID equipment, the decision on whether to buy or rent the equipment weighs heavily on the management. Both options have advantages and disadvantages that need to be carefully taken into account to arrive at the most optimal decision. For instance, buying may be costly and unattainable for small businesses. Renting may also be the wrong option if the company will need the equipment in its daily operations.
In this article, read about the key considerations in renting bar code and RFID equipment.
Nature and Scope of Work
Barcode and RFID equipment is used in diverse sectors and industries. Different areas require different capabilities. This means, therefore, the nature and scope of work that needs to be accomplished by this equipment will guide the decision to rent. If the workload is extensive and may take longer to complete, the decision to rent may need to be reconsidered. This is because the cost implication of renting may be more than the cost of buying your own equipment.
Renting may be appropriate for short term activities and mostly those which are one-off or would not be repeated in the near term. Additionally, some business processes and activities require high frequency or short ranges. Also, lease equipment that will match perfectly with the kind of work you need to be done.
Operations and Maintenance
Barcode and RFID equipment need to operate and maintained by qualified personnel. In renting the equipment, consider whether you have the right human resource to operate them. If the answer is affirmative, renting is a feasible option. However, in the absence of qualified personnel, consider renting from leasers, who also provide technical support.
It is also essential to have it on paper which party will bear the cost of operations and maintenance. These costs need to be taken into account besides the initial rent charges. High maintenance costs may render the renting decision not feasible.