Investment in Manufacturing Technology (Hardcover)

The traditional attitude to investment appraisal is that it is a final obstacle to be overcome in the investment process. Having put considerable effort into selecting a technical specification, managers then have to try to get the investment "past" the accountants. The increasing difficulty of doing this, as technology has become more complex and expensive, has helped to develop the belief that existing accountancy procedures are inadequate when applied to Advanced Manufacturing Technology (AMT). In this book, Peter Primrose shows that investment appraisal can and should be treated as an invaluable aid to management decision-making. Rather than being used as a tool to give a final pass or fail verdict on projects, it should be an integral part of the selection process. This process should involve identifying the areas in the company where resources need to be concentrated, helping to select the required technical specification, and finally, establishing the objectives and timetable for implementation.