Machine Design & Factory Automation & Net Present Value (NPV) Method - Engineering Assignment Help

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Machine Design and Factory Automation

Hailey Denison, CPA, has recently accepted a position as a financial analyst with Machine Design and Factory Automation (MDFA) Ltd.  Reporting to Dexter Reid, P. Eng., Vice-President of New Product Development, Denison is responsible for preparing detailed feasibility studies of all new products to determine if they are commercially viable prior to being approved for launch. Company policy requires that analysts use the net present value (NPV) method.

Product Review Process

MDFA is an industrial equipment design and manufacturing firm with a reputation for providing its customers with innovative solutions to complex operational problems.  The company is divided into three business units: the Ventilation Division produces heating, cooling, and air purification systems; the Surfaces Division makes equipment used to surface roads and pedestrian walkways; and the Factory Automation Division manufactures machine tools and systems integration software.

MDFA’s divisions are autonomous and are expected to work closely with current and prospective customers to originate new product proposals.  These proposals are presented to MDFA’s New Product Screening Committee (NPSC) for approval in three stages.  In the first stage, the division tries to convince the NPSC of the product’s technical and commercial potential in general terms. 

If approved, the NPSC provides funding to design a prototype.  In the second stage, the prototype is reviewed to determine if it is technically viable.  The product is normally sent back to the division for further refinements based on input from the committee. 

If these issues are addressed successfully, the product moves on to stage 3 where a detailed feasibility study of the commercial viability of the new product is completed by an independent financial analyst from the Office of the Vice-President of New Product Development.   If approved at stage 3, the division receives funding to launch the product.  

Once a new product is launched, each division must provide a monthly progress report to the NPSC where the committee can decide to maintain, increase, decrease or discontinue funding based on their progress. 

The new product approval and monitoring processes at MDFA are rigorous, and divisional managers and financial analysts know to be well prepared whenever they present to the NPSC. 

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