Selecting Equipment To Minimize Production Costs and Maximize Profitability

Specifying and installing the proper equipment for a process is the key to minimizing the long-term cost of producing products. But often the objective to purchasing equipment is to minimize the initial capital cost. Minimizing this initial purchase cost, however, may require the purchaser to add co...

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Bibliographic Details
Published in:Journal of plastic film & sheeting 2008-01, Vol.24 (1), p.21-33
Main Authors: Smith, Dan, Spalding, Mark A., Gould, Russell J.
Format: Article
Language:English
Subjects:
Applied sciences
Exact sciences and technology
General. Economics. Legislation. Standardization
Polymer industry, paints, wood
Technology of polymers
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Summary:Specifying and installing the proper equipment for a process is the key to minimizing the long-term cost of producing products. But often the objective to purchasing equipment is to minimize the initial capital cost. Minimizing this initial purchase cost, however, may require the purchaser to add costly modifications to the line after installation, creating higher operating costs, lengthy troubleshooting, and a delay to market entry. Principles and strategies are presented here that show how to avoid this mistake, and case studies are provided as learning tools.
ISSN:8756-0879
1530-8014
DOI:10.1177/8756087907087171