Equipment procurement budget is of a great challenge in manufacturing industries by reasons of its multi-objectives, insufficient funds, and inflation problems. Solutions were proffered to these problems by identifying the strategic decisions required in equipment procurement (machine, accessories, spare parts and miscellaneous costs). Procurement changes from year to year based on equipment industrial needs. Hence eleven (11) scenarios for procurement but this study focused on a scenario where all the decisions are needed for procurement. This problem is multi-objective decision problem where there is need for multi-objective decision tool for its solution, therefore a goal programming tool was adopted and improved by integrating inflation model into it to be able to solve inflation problems. International Brewery Ilesha, Nigeria was used as case study for the model’s application to evaluate its performance. The strategic decisions deviated above or positively by 0.4604, 4.1311 and 2.3760 for machines, spare-parts and miscellaneous costs respectively while accessories cost was not deviated. Therefore, the procurement cost for Machines, Accessories, Spare-parts and Miscellaneous costs would be (N 166,015,000; $ 461,152.77), (N 127,968,000; $ 355,466.67), (N 548,075,000; $ 1,522,430.56), (N 271,091,500; $ 753,031.94). US Dollar exchange rate was at N 360 to a Dollar as at the time of this research. This multi-criteria decision tool will find its application useful in small, medium and large scale industries that equipment procurement budget affects their production.v

<p>The challenges that used to come up as a result of project failure have to do with improper planning. This is looking into future what can occur based on present event. In financing equipment or machinery, the capital in hand is a critical factor that determines equipment procurement strategies. There is need for an optimum model to control the available budget to be put in place in order to optimally allot the available budget to the machines, spare parts and miscellaneous costs under the redundant of accessory cost. This study identified the financial strategic decisions for machines, spare parts and miscellaneous costs, developed mathematical models for the identified strategic decisions, test and evaluate the performance of the developed models. In this study, three strategic decisions were considered (i.e., machines, spare parts and miscellaneous costs) and the optimum model to control the budget for machines, spare parts and miscellaneous costs are dealt with under the redundant accessory cost. This is because an existing manufacturing company or industry has high inventory of accessories which always aid the performance of machine in the industry. Therefore, it is necessary to optimally allot the available budget on the machine(s) to be procured, spare part to be stocked and miscellaneous cost. The amount allotted to machines, spare parts and miscellaneous while budgeting for year 2015 are in this ratio: Machines, ($5,263.83); Spare parts, ($27,723.09); Miscellaneous, ($4,366.03), this based on available small budget of N 6,350.000 of dollar value of US$1,079,500.00. This model is a strong decision tool for allocating available budget in the period of financial scarcity where equipment procurement for production needs must be carried out. This model is highly recommended to any manufacturing company, small, medium and large scale that equipment procurement affects their production in developed and developing countries.</p>

In a situation where a decision maker faces problems of allotting the available budget on the strategic decisions in a manufacturing industry, data information plays an important role to maintain long run profit in the industry. Statistical analysis was incorporated to determine the correlational strength between the number of years and each of the strategic decisions, their confidence level, and the predicted values. This study identified the strategic areas of addressing the issues which are machine (), accessory (), spare part () and miscellaneous (), exploring the hidden data of the selected strategic decisions from International Brewery Plc, Ilesha and statistical analysis between the number of years and each of the selected strategic decisions. The model used in this work is simple linear regression while Statistical Analysis Software “SAS” was used for its applications. After exploring the hidden data from a case study, the suggested cost of procurement for machines, accessories, spare-parts and miscellaneous are: ₦119,975,000.00; ₦127,968,000.00; ₦134,965,000.00 and ₦33,491,500.00 respectively. From appendix, the probability of each of the strategic decision is less than 0.05 which implies that the Null-Hypothesis is rejected. The number of years has significant effect on Machines, Accessories, Spare-parts and Miscellaneous. As the number of years increases, the cost of procurement of the strategic decisions increases due to high rate of demand and consumption of their products. However, the cost of procurement may fall depending on the level of demand and maintenance culture. Besides, management of the company may ask decision maker to maintain the cost before procurement. This result may be used for further research on optimization of the available budget for equipment procurement.

Development of a prototype inverter powered baking oven was carried out and performance was evaluated to determine its efficiency. The oven was designed and fabricated with an outer dimension (506 mm length x 506 mm width x 506 mm height) made up of mild steel and inner dimension (436 mm length x 436 mm width x 436 mm height) made up of stainless steel and used fiber glass as an insulator. The materials for fabrications were locally sourced and served as alternative for baking, roasting or boiling using electrical recharged power in case of power failure. The prototype inverter baking oven operates on the principle of electrical resistance and 0.147?/W was obtained as the resistance of the heating element. The performance evaluation revealed the baking efficiency of the oven to be 94.29 %, 75 % and 66.7 % for bread, plantain and fish respectively, the maximum temperature of 160?C, 180?C and 200?C were recorded. Capacity of the baking oven was determined to be 6 loaves of bread per tray/batch. With practical determination and comparison made with other work, a prototype inverter powered baking oven can be adopted for domestic and industrial purpose depending on the production plans and the layout.

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