Remanufacturing is a process in which used, worn-out components are turned into new parts and products that are good, if not better than new. Remanufacturing can be highly beneficial for your company as these processes give each of your products a second life and can reduce costs, reduce waste, and conserve materials while simultaneously eliminating excess labor for your employees as this will eliminate the extra steps it would take to create a product from scratch.
Reduced Cost & Lower Prices
Typically, manufacturing requires a lot of various materials that can become costly. When businesses choose to adopt remanufacturing, they will begin seeing more cost savings and lower pricing as this process requires fewer raw materials, consumes less energy, and produces less waste. Businesses will see significant cost savings when remanufacturing and will often result in a product that is comparable in quality to an item that is manufactured brand-new which will cost less for both your company and your customer.
Conservation of Materials
Manufacturing products from scratch requires your business to outsource raw materials from many different places which can be costly and time consuming. With remanufacturing, your business is ultimately reducing the amount of transportation and processing that is required to turn raw materials into a product. Eliminating these extra steps encourages sustainability by conserving materials that have become increasingly scarce and expensive.
When your company manufactures a product from raw materials, this can create excess amount of waste during each step in the process. When remanufacturing product, you are giving it a second life; this not only saves these products from becoming unnecessary waste but also eliminates many waste-producing steps in the manufacturing process.
Luckily, the remanufacturing industry supports roughly 180,000 full-time jobs in the United States and more than 450,000 full-time jobs world-wide. This industry is rapidly growing and includes a wide range of careers and skills, like technicians, engineers, and scientists, to designs and sales.
Implementing remanufacturing into your business can be difficult if you’re not sure where to begin. As a reputable 3PL with over 30 years of comprehensive supply chain management, NewStream has the knowledge and expertise to help guide you through this transition!
Ready to take your business to the next level? Let’s talk, our experts are waiting to help!