Life Cycle Costing with Fred Schenkelberg

There are a lot of organizations who buy systems that cost less initially because of limited budget or due to a number of other reasons. They never even bother to bring in the financial or operations experts to get more information from the suppliers about the equipment they are going to purchase. Does it perform all the functions we need? Does it have that built-in reliability mechanism? Will it serve the purpose even? They don’t ask these questions because the initial buying cost is less or fits in with the budget. This is a mistake that leads to expensive maintenance later on.
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