Selecting High Tech Production Machines: A Guide for Entrepreneurs and Small Manufacturing Businesses

This study presents a set of practical criteria and guidelines for small manufacturing business entrepreneurs who are looking for starting or growing a business through the addition of multifunctional computer numerical controlled (CNC) technology. Even though adopting this advanced technology can be costly in terms of initial investment and training, recently-developed equipment may have a positive long-term effect by simplifying production methods or providing the means to accomplish tasks that were once considered impractical. The multifunctional CNC machines are capable of meeting several production goals including faster processing, minimizing non-value added times, concurrent processing of multiple parts and flexibility in processing high mix of products. This technology has become increasingly sophisticated and expensive capital equipment. This study entails a framework of technology selection and discussion of critical selection criteria such as product design features, impact of material type on processing power requirement and production goals. Technical and cost data from several suppliers as well as practical examples are provided to assist small manufacturing business entrepreneurs in selection of this multifunctional technology.