Equipment Justification: Do A 360˚ Review
An experienced in-plant consultant suggests 12 crucial areas to examine when attempting to justify new equipment for your in-plant.
6| Estimating (historical) hit ratios and potential for additional business: Not all organizations keep good estimating records or estimating logs. Whatever tools you have, review the last year or two of estimates that the piece of equipment you’re considering could help you win. A 2 percent increase in work won might make an exponential contribution—say a 5 to 15 percent increase in your bottom-line profits.
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