Plant Floor Machinery

Author(s): Alexander Spivak, Ashok Kumar and Matthew Franchetti

Pp: 81-83 (3)

* (Excluding Mailing and Handling)

Abstract

Engineers typically make plant machinery’s economic replacement decisions. Such decisions involve cost analysis, which allow determining when the current machine is to be replaced with a new one. A manager’s job may be to suggest when such analysis should be conducted, especially on older machines, and when production changes occur.

Keywords: Floor plant machinery, machine replacement decisions, machine maintenance, replacement analysis, MARR, minimum acceptable rate of return, reliability, accessibility, cost of repairs, cost of maintenance, downtime, machine retention cost, machine replacement cost, forecasting, cost forecasting.