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Related Experiment Videos

Equipment replacement policy: a survey.

J I Hsu1

  • 1College of Commerce and Finance, Villanova University, PA.

Hospital Materiel Management Quarterly
|July 8, 1990
PubMed
Summary

Most firms use equipment replacement policies, with the discounted rate of return method being most common for determining economic life. Operational issues are the primary challenge in implementing these policies.

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Area of Science:

  • Business Management
  • Operations Research
  • Economics

Background:

  • Increasing adoption of theoretically sound methods for equipment economic life determination.
  • Prevalence of equipment replacement policies across surveyed firms (89%).

Purpose of the Study:

  • To analyze the current state of equipment replacement policies and their implementation.
  • Identify common challenges and preferred management profiles in equipment replacement.

Main Methods:

  • Survey of firms regarding their equipment replacement policies and methods.
  • Classification of policy application difficulties into operational, organizational, and economic categories.

Main Results:

  • Discounted rate of return is the dominant method; MAPI formula is rarely used.
  • Operational difficulties are most frequently cited.
  • Lack of coordination and funding limitations are key organizational and economic hurdles.
  • Absence of formal training for equipment replacement managers.

Conclusions:

  • Firms increasingly utilize structured approaches for equipment lifecycle management.
  • Operational challenges require significant attention for effective policy implementation.
  • Engineering expertise is favored for managing equipment replacement policies.

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