EQUIPMENT JUSTIFICATION: GETTING WHAT YOU NEED, NOT WHAT YOU WANT

摘要

There comes a time when every company is faced with deciding whether or not it can justify acquiring a new piece of machinery. This month, I offer a pragmatic approach to guide readers through the cost-justification process. I have broken the process of new equipment justification into eight steps/questions that are essential to consider. These questions are highlighted in the accompanying box and explained below.