Challenges Faced by Heavy Equipment Industries
There are numerous problems that heavy equipment industries have to counter on a daily basis; the challenges are as varied as the product that these industries develop. Designing and manufacturing products that meet the needs of the customers, and carrying this out in a very efficient and quick manner, is an area of continuous improvement for the heavy equipment suppliers.
Another major challenge that these industries face is the drastic increase in globalization, specifically in terms of manufacturing and developing products that are in accordance to the demand of customers in various markets. This has also given rise to a stronger consolidation between the suppliers and the manufacturers as the companies want to boost their product offering.
A major problem most heavy equipment suppliers face regarding the heavy equipment rentals, financing collections and leasing is that the customers often delay the payments and try to avoid the cost. The machinery depreciates as it is used and losses its value thus it cannot be sold again at the same price. The hands of the supplier are tied. In this case the best solution is to use debt collections agencies such as commercial debt recovery houston.
A convergence in the technology recipes is occurring as a result of emission standards. The differences in important technology still prevail but are rather subtle. For example the precious metal recipes that are used in after treatment systems or noise signatures in the gear-train design or the designs on the sensor connectors are not that obvious to the consumers or the customers. But these small things do have a great impact on the performance, durability and reliability of the product. Hence, it is considered that the product differentiation is basically about how well the technology has been integrated and executed rather than which building blocks have been chosen.
A very significant hurdle is the move to include 3D stimulation into the system stimulation in order to complete the design process. The clients now demand the development of full virtual vehicles, which require the digital sign off before the start of the manufacture of the first prototype. For normal vehicles there are hundreds of tests that can be carried out in normal testing environment but now that need to carried out in a virtual environment. Customers also demand that the products that the products which are delivered at a prototype level should be able to work at the first time without any problems.
