North American manufacturers have faced years of intense, globalized competition. This onslaught compelled them to modernize their manufacturing processes to compete effectively. The result has been that many plants have become models of efficiency and agility. This modernization allowed manufacturers to more quickly adjust production to address shifts in demand and business goals.
This drive toward modernization was built on information. The cost, risk and value of aging machinery were evaluated to determine whether it should be retained or replaced with more modern equipment. In many cases, aging--but still productive--machinery operates in conjunction with state-of-the-art equipment. After all, what matters is whether the machine is operating as expected and as efficiently as is required by the business.
Source: CRM Buyer, http://crmbuyer.com