Management requires effective management of routine problems and moments of crisis in the production administration process, oriented towards perspective objectives and based on the analysis of the past. Crisis management does not differ fundamentally from the normal one. In the production process, the optimum functioning of the production equipment is an essential condition for achieving efficiency for the company. Great attention must be paid to making technical revisions in good time, thus limiting the cost for repair. However, at some point, because of some human factors, material and economic ones, production equipments are no longer valid in terms of the efficient operation, being removed from service and replaced with new equipment. This paper presents a method for selecting the optimal type of equipment to be purchased of several possible variants with the same technical performance.
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Published by Human Resource Management Academic Research Society (www.hrmars.com)
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