As many heavy equipment owners know, traction system is one of the vital parts of the machine which is basically practical to have.
Traction controls keep the equipment from skidding on slippery roads and limit tire slip by maximizing the friction produced on the impact of tire and road. In the past, drivers would need to focus his controls on the break to keep the vehicle from spinning wildly. Unfortunate fates may sometimes lead to accidents or worse, cause deaths and ample amount of liability expenses and mountain of complaints.
Operators and equipment owners nowadays use the assistance of traction system to sustain the controls. Standards on articulated dump trucks state that the automated traction control (ATC) monitors wheel spin and axle speeds per second and responds quickly when a possible slip is detected. With ATC the truck is always in the correct drive combination for conditions. And ATC is flexible; it can be applied to a single wheel, one or more axles, all wheels on one side, etc.
The importance of traction control reaches out even to distributors in developing nations.
Axis Capital Group, a Singaporean company which sells and rents high-standard machineries also servicing to Jakarta, Indonesia, admits to only distributing equipment with traction controls systems as customers are highly cautious on security and risk reduction on their equipment.
Axis also pointed out that traction system is more than its capabilities to provide security; it also comes inexpensive for both distributors and end-clients. For Volvo, for example, the traction system under this brand reduces fuel consumption and improves productivity by 6%. It can also be easily operated since it is compatible to telematics devices, thus, cutting operator’s training and saving more. Most importantly, since these trucks are made to withstand rough terrains, slippery roads and steep pavements, maintenance can be cut off. It can moreover last for a long time since it is built in sturdy components.
More reviews show advanced attributes of electronic traction system. Take for example Komatsu Traction Control System. Monitoring the relative speeds of the front and center axles, when slip is detected, the system automatically engages an inter-axle lock. If a wheel is still slipping, the system applies the service brake to that wheel and continues to monitor wheel speed and modulate braking. In the cab, the operator uses a rocker switch to choose between automatic and manual operation of the inter-axle lockup clutch.
New equipment acquisition will slowly, but progressively develop, says Axis Capital Group, Singapore (company is servicing many Southeast Asian countries such as KL Malaysia, Beijing China, Jakarta Indonesia and many more). The equipment finance industry is predicting eight percent growth in investment in equipment and software, representing that equipment acquisition by businesses in several industry sectors will upsurge.
Replacement requests will remain to push new equipment acquisitions. Equipment becoming old and replacement necessities will be the chief reasons for a new equipment acquisition, as businesses expect sturdier ciphers of economic development in advance of growing their equipment investment.
Doubt over suggested deviations to lease accounting will have businesses portraying a waiting game. The determination of suggested deviations to lease accounting standards by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) will have businesses expecting to discover how their balance sheets, earnings and other financials will be involved. In the meantime, industry advocacy will remain to diminish the undesirable influences of lease accounting changes on businesses and the economy. The great news is that the main causes to lease equipment will stay complete, from upholding cash flow, to conserving capital, to gaining elastic financial solutions, to preventing uselessness.
Used equipment prices will bounce in not all but many market segments. The collateral value of several groups of equipment that ‘bottomed out’ since the previous years will echo. Car and truck values will be above all strong, and construction equipment also will sustain its price. Particular sections, like corporate aircraft, will stay at fairly lower values.
Equipment finance companies will improve customer relationship and support competences to shape modest advantages. It targets no more complaints in the future. End users of equipment will gain advantage significantly from the hard work of banks and incarcerated and independent finance companies to grow. They’ll be offering dedicated areas of skill and value-added customer services that will be a win-win for lessors and lessees alike.
Credit availability will allow equipment acquisition for qualified businesses. Businesses in search of financing for equipment acquisitions will often discover credit approvals higher in the equipment finance industry as compared from bank loans.
Organizations looking for methods to reduce costs and upsurge operational efficiencies will examine technology innovations. The flexibility, scalability and relative costs related with cloud computing and shared services will start to compete with new IT equipment purchases for many businesses.