Whether it’s budgeting season, or you’re preparing for the future, you need to make strategic decisions about where your allocations will go. As planning commences to replace your current coordinate measuring machine (CMM) or to add a new one, important business considerations such as prior-year performance and expenditures, market forces and trends, and your company’s goal alignment must be considered.

Is purchasing a CMM in your budgeting plan this year? If so, there are five key questions you need to ask before establishing the budget.

1. Can I use my budget from a previous CMM purchase?

The short answer: It’s not the best idea. A common mistake most consumers make is establishing a budget based on previous CMM purchases. If you purchased a CMM in the past two, five, or 10 years and begin the budgeting process based on that past acquisition, you may end up disappointed. If you use a previously established price to buy the same system, you would likely end up short due to inflation alone.

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