The critical link between products related factors and machinery investments

Stergios Vranakis

Abstract


Purpose: The main goal is to understand the way the machinery investment decision making process is affected by specific organisational and, mainly, product related factors.

Design/methodology/approach: The proposed framework is empirically tested using a sample of 248 Greek manufacturing firms that have invested in new machinery and equipment during the past five years. Structural Equation Modelling (SEM) has been used for testing the appropriateness and validity of the proposed model.

Findings: The results indicate that new product development, new product innovation and manufacturing flexibility directly affect investment decision on machinery and equipment. Further, the positive influence of machinery and equipment investments on firm performance is also highlighted.

Originality/value: This study proposes a new conceptual framework for examining the reasons manufacturing firms decide to invest on the acquisition of new machinery and equipment. The machinery and equipment investment model that derives from the present study, presents a complex yet clear picture of important organisational definitions that can affect management’s way of thinking and can also be used for the evaluation of future strategies.

 

Keywords: Machinery & Equipment Investments, Firm Performance, New Product Development, Manufacturing Flexibility, New Product Pricing Policy, New Product Innovation.

 

 

[PT]

Título: "O elo crítico entre fatores relacionados a produtos e investimentos em máquinas"

Resumo

Objetivos: O objetivo principal é entender como o processo de tomada de decisão sobre investimento em máquinas é afetado por fatores organizacionais específicos e, principalmente, relacionados ao produto.

Desenho/metodologia/abordagem: a estrutura proposta é testada empiricamente usando uma amostra de 248 empresas de fabricação gregas que investiram em novas máquinas e equipamentos nos últimos cinco anos. A Modelagem de Equações Estruturais (MEV) foi usada para testar a adequação e a validade do modelo proposto.

Resultados: Os resultados indicam que o desenvolvimento de novos produtos, a inovação de novos produtos e a flexibilidade de fabricação afetam diretamente a decisão de investimento em máquinas e equipamentos. Além disso, a influência positiva dos investimentos em máquinas e equipamentos no desempenho da empresa também é destacada.

Originalidade/valor: Este estudo propõe uma nova estrutura conceitual para examinar os motivos pelos quais as empresas fabricantes decidem investir na aquisição de novas máquinas e equipamentos. O modelo de investimento em máquinas e equipamentos que deriva do presente estudo, apresenta uma imagem complexa, porém clara, de definições organizacionais importantes que podem afetar o modo de pensar da gerência e também pode ser usado para a avaliação de estratégias futuras.

 

Palavras-chave: Investimentos em máquinas e equipamentos, desempenho da empresa, desenvolvimento de novos produtos, flexibilidade de fabricação, política de preços de novos produtos, inovação de novos produtos.


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