Abstract
The strategic benefits of advanced manufacturing technology are hard to quantify, making it uncertain how to include them in the capital inventment justification process. This had led to the adoption of multicriteria techniques in which direct cost savings is but one of several criteria used to evaluate investment alternatives. NCIC (Non-traditional Capital Investment Criteria) is a software tool developed by the authors that facilitates the incorporation of difficult-to-quantify benefits and costs into capital budgeting. It combines a framework for clarifying non-traditional criteria with a procedure for subjectively assessing criteria merit in dollar terms. Their values can then be incoporated in a conventional present worth analysis.
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