As the new year brings new budgets, the reality of muted economic growth for 2017 becomes clear when the subject of corporate spending arises. Even when new budgets have been approved for capital expenditures, which include metrology systems, there could be a hesitance to begin the procurement process, including resistance right from the top of the organization. According to the Washington based Business Roundtable CEO Economic Outlook Index, expectations for revenue, capital spending, and employment declined from the previous 2016 quarter. This recent survey suggests that although capital expenditures may be budgeted for the new year, executives are looking to prioritize spending based on productivity and technology that boost company competitive advantages.
Quality or manufacturing professionals that seek to add new metrology technology must now compete with other entities within the organization, all competing for dollars that will be the high priority capital spending within the company. While many times it is a specific project that initiates the procurement of a measurement system, touting the broader application and the capability to support both new and existing projects is key to raising visibility and priority when proposing capital expenditures. Justifying investment is all about value and is a critical element in the success of keeping a measurement system high on the list of corporate spending priorities.