Revamped industry tool allows manufacturers to understand total cost of machinery purchase
The tool was developed by the OpX Leadership Network convened by PMMI, The Association for Packaging and Processing Technologies.
Newly revamped Total Cost of Ownership (TCO): Packaging and Processing Machine Guidelines help consumer packaged goods (CPGs) and OEMs identify, quantify and break down the costs of purchasing and operating machinery. The tool was developed by the OpX Leadership Network convened by PMMI, The Association for Packaging and Processing Technologies.
The document provides manufacturers with a big picture perspective on the complete cost of a machine purchase. With its new streamlined, easy to navigate format, the free tool now features case study examples of how the document is utilized by both OEMs and CPGs, and includes a customizable Excel workbook used to record all salient cost information when purchasing a machine.
“When purchasing equipment, acquisition and operating costs – from design and application through operation and maintenance – must be considered, not just the price,” says Bryan Griffen, director, industry services, PMMI. “Our updated tool makes it easier than ever for companies to make informed business decisions in selecting the best solution using the total cost of the machine.
The OpX Leadership Network was founded in 2011 by PMMI to ensure CPG companies and OEMs are well-connected and well-prepared to solve common operational challenges, make smarter decisions and achieve operational excellence. Users have downloaded the original Total Cost of Ownership document over 5,000 times since its release in May 2015.
The TCO tool, as well as solutions on Request for Proposals, Factory Acceptance Tests and more, are available for free download at http://www.opxleadershipnetwork.org.
