Controlling and Managing the Capital Equipment Process

Often, purchasing is simply told to “cut an order” after a department has won budgetary approval for a new capital expenditure. When purchasing is involved at the start of the process, it can lead to better value outcomes as well as improved customer experience at the department level.

This session presents ways to develop controls and accountability for the purchase of new and replacement capital equipment and other forms of capital expenditure. We will review how to obtain value from carefully negotiated terms and conditions, Total Cost of Ownership principles, and how to match user specifications and requirements with the actual purchase while maintaining the best overall capital quality for an assigned task.

The session will review best practices for reviewing and obtaining capital equipment terms and conditions as well as the use of mileposts from approval through acquisition and installation of major equipment.

This session places purchasing in the driver’s seat and gives them accountability for the results of the purchase from price and terms, to installation and other considerations.

Credit Information

Activity Number Credit Amount Accreditation Period
AHRMM 1 Hour from May 01, 2019