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2012 | Buch

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Capital Equipment Purchasing

Optimizing the Total Cost of CapEx Sourcing

verfasst von: Erik Hofmann, Daniel Maucher, Jens Hornstein, Rainer den Ouden

Verlag: Springer Berlin Heidelberg

Buchreihe : Professional Supply Management

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

Compared to other main groups of procurement, capital equipment features numerous characteristics that significantly impact the purchasing process. The process of purchasing capital equipment therefore requires specific attention and above all a systematic approach. To overcome these challenges, a holistic process model and specific tools and methods for capital equipment purchasing are presented.

The following topics regarding capital equipment purchasing are presented:

• Compliance management

• Savings measurement

• Life cycle costs and total cost of ownership

• Determining the optimum useful life and replacement time

• Real options approach for the evaluation of investment alternatives

• Performance contracting

Readers are provided with a comprehensive and structured process model for capital equipment purchasing. The comprehensive set of methods including various instruments and methods presented in this book support the establishment of a professional capital equipment purchasing process.

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Inhaltsverzeichnis

Frontmatter

Chapter 1. Introduction to Capital Equipment Purchasing

Abstract

Capital equipment is characterised by both high non-recurrent acquisition costs and high running operating costs. It is thus mostly amortised over several years and subject to numerous influencing factors, such as changes in demand. Moreover, capital equipment is vital for maintaining a company’s operative capabilities and securing its future competitiveness

Erik Hofmann, Jens Hornstein, Daniel Maucher, Rainer den Ouden

Chapter 2. Characterisation of Capital Equipment

Abstract

To be able to classify capital equipment, we first present an overview of the goods to be procured in enterprises. According to Large (2009), five so-called main procurement object groups can be distinguished (Fig. 2.1):

Erik Hofmann, Jens Hornstein, Daniel Maucher, Rainer den Ouden

Chapter 3. Characterisation of Capital Equipment Purchasing

Abstract

Capital equipment purchasing includes all processes for supplying a company with capital equipment from sources external to the company. These processes comprise strategic and operative planning and reach from demand assessment to disinvestment with the inclusion of maintenance and repair. The objective of the activities within the scope of capital equipment purchasing is to ensure competitiveness and contribute to a sustained increase in corporate value.

Erik Hofmann, Jens Hornstein, Daniel Maucher, Rainer den Ouden

Chapter 4. Typical Challenges and Possible Solutions in the Procurement of Capital Equipment

Abstract

Numerous challenges exist within the scope of capital equipment purchasing. Below, we specify the major challenges and approaches to possible solutions. The following chapters then present in detail the solutions.

Erik Hofmann, Jens Hornstein, Daniel Maucher, Rainer den Ouden

Chapter 5. Process for the Procurement of Capital Equipment

Abstract

Although capital equipment is frequently individualised, the process for the procurement of these goods is similar in many cases. Since many players are often involved and far-reaching decisions need to be made, the procurement process is generally characterised by a relatively long duration with numerous different phases. The process for the procurement of capital equipment may take months or even years in some instances. Furthermore, procurement frequently requires contingent decisions to be made. That means the decision for a concrete procurement object depends on previous capital equipment purchases, which will influence future decisions. For instance, capital equipment purchasing should take into account any possible synergy effects with existing plants in terms of maintenance. The procurement process presented in the following aims to provide a suitable framework for managing these challenges (Fig. 5.1)

Erik Hofmann, Jens Hornstein, Daniel Maucher, Rainer den Ouden

Chapter 6. Instruments and Methods of Capital Equipment Purchasing in Terms of the Players Involved

Abstract

While capital equipment purchasing mostly takes only economic cost/benefit aspects into account, people frequently fail to realise that compliance and compliance management are relevant for the observation of statutory and internal regulations in capital equipment purchasing. Yet, the subject of compliance is of particular importance in terms of legal uncertainties because of non-recurrent investments, protracted planning and decision-making processes, as well as multi-organisational interface management systems.

Erik Hofmann, Jens Hornstein, Daniel Maucher, Rainer den Ouden

Chapter 7. Instruments and Methods of Capital Equipment Purchasing in Terms of the Characteristics of Procurement Objects

Abstract

Owing to the long planning periods and useful lives of capital equipment and the multitude of costs not only directly connected with capital equipment, it is difficult to record the costs incurred by such projects. They often come to bear only at much later points in time or even before the actual procurement of the object in the life cycle of an investment object. Moreover, recording them can hardly be managed with absolute precision.

Erik Hofmann, Jens Hornstein, Daniel Maucher, Rainer den Ouden

Chapter 8. Overall Conclusions on Capital Equipment Purchasing

Abstract

The worldwide volume of the capital equipment industry has already reached several trillion euros and it is still increasing. Furthermore, capital equipment has a multitude of special characteristics compared with the other main procurement groups. Major differences exist even within the capital equipment group, for example in terms of standardised and individualised capital equipment as well as tangible and intangible capital equipment. These special characteristics also affect capital equipment purchasing. This is characterised, for example, by procurement in the form of so-called buying centres, procurement at irregular intervals, high financial stakes, long procurement periods and decisions that depend on other investment decisions. Accordingly, the process of capital equipment purchasing requires particular attention and systematic procedures.

Erik Hofmann, Jens Hornstein, Daniel Maucher, Rainer den Ouden

Backmatter

Titel: Capital Equipment Purchasing
verfasst von: Erik Hofmann
Daniel Maucher
Jens Hornstein
Rainer den Ouden
Copyright-Jahr: 2012
Verlag: Springer Berlin Heidelberg
Electronic ISBN: 978-3-642-25737-7
Print ISBN: 978-3-642-25736-0
DOI: https://doi.org/10.1007/978-3-642-25737-7