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Justify ROI Before You Buy

But how?

Jeff Freeman
Wed, 09/03/2014 - 12:14
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You’re about to head off to IMTS next week in search of a solution for your latest manufacturing challenge. With myriad technologies available, it is likely you will find one or more possible solutions. Maybe you have a budget in mind to help you reach the next level of productivity, or maybe you’re only attending the show to explore the possibilities. Regardless of how you get there, you will eventually have to justify the expense to management. You know the solution will save time and money and increase productivity, but how do you prove it?

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Submitted by RobinGoldsmith on Wed, 09/03/2014 - 11:22

You need REAL ROI(tm) to avoid ROI pitfalls like 'justify'

‘Justify’ is a code-word for supporting a predefined decision.  Even though perhaps not intended, using the term predisposes one to cause the described otherwise-sound practices to fail.  This is just one of more than 21 pitfalls that commonly negate the value of typical ROI determinations.

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