Towards the tip of 1983, the Advisory Council for utilized study and improvement (ACARD) released a file giving the findings of a operating team which were manage to check the criteria which inhibited or supported the advent of complicated production expertise (AMT) in engineering manufacture. widespread among their findings used to be that, as much as that point, 'appraisal of funding in AMT on a momentary monetary foundation was once no longer totally sufficient' and that 'the traditional method of monetary appraisal ideas, directed in the direction of an early go back on capital invested, will be inappropriate'. this day, over 3 years later, complex production know-how is extra largely known and is offering a confirmed way to survival and development for brands. despite the fact that, many medium-and small-size businesses are nonetheless discovering nice trouble within the overview and justification of funding during this important sector. The establishment of construction Engineers hence organize a distinct joint operating celebration with The Chartered Institute of administration Accountants to stick to up the ACARD document, with the target of reading the total sector of the justification of funding in complicated production technology.
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Extra resources for Justifying Investment in Advanced Manufacturing Technology
38 Soumis of Finance Broadly a company will be regarded as highly geared if the ratio exceeds 1 to 1. Many small and expanding companies will frequently be geared much higher than this, whereas larger companies should expect to be geared at a lower level. Before deciding on the method of finance, it should be established whether or not there are government grants available for the project. This particularly applies in development areas and a phone call to the local office of the Department of Trade and Industry should provide the necessary information.
Many indirect benefits were also achieved: inventory, lead times, handling and administration were all reduced, quality was improved as was the design/manufacture approach. The scheme achieved a payback of less than one year for the investment of £250,000, and so the company did not consider that their normal DCF evaluation was necessary. Case Study B - The Manufacture of Shoe Machines Appendix 2 describes how one company went about the task of justifying the investment in a Flexible Manufacturing System as part of a general up-grading of its manufacturing facilities.
Comparing the planned workload with historical analysis gives a figure for the saving. Reduced rework caused by engineering changes - for the reasons stated in (c) above, smaller quantities of each part will have to be reworked when there is an engineering change. 58 Appendices (e) Reduced time for tool and cutter set-up - the current practice on the existing CNC machining centres was to set-up the tools every time for each job owing to the wide variety of tools involved; if this was not done the increased cost of tool holders and cutters would be very high.