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You found an item which is the most expensive equipment, has the longest lead time of your3 quotes, however it is in your opion the best suited item. How do you go about it having your superior signing off on this purchase or is it up to you what to be purchased?
If the current financial situation of the firm is good enough to set aside capital for the new equipment, it will be better to buy the equipment. Otherwise, renting is a good option provided the project duration is shorter. If the equipment is required on a long term basis, the rent will sum up to be even more than the equipment price.
First we need to know how the equipment will benefit the project requirements. If it is too expensive and we do not have the required resources to design it, for this case we usually negotiate with the vendor for leasing the machine or product.
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