UPGRADE VERSUS REPLACEMENT - A PRACTICAL GUIDE TO DECISION-MAKING

Equipment upgrade versus replacement decisions are often encountered i n the manufacturing environment. A systematic model can be used to aid in the decision-making process, Many variables must be analyzed in or der to reach a wise decision, This framework for decision-making inclu des identifying objectives, indicators of success, alternative strateg ies, and an operational plan. A checklist-type approach is useful for analyzing the suggested variables which should be considered when maki ng an upgrade versus replacement decision.