Counting the Costs of Acquisitions: Using Cost-Benefit Analysis in a Seminary and University Library | Zendy

Verena Getahun | Zendy; William A. Keillor | Zendy

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Counting the Costs of Acquisitions: Using Cost-Benefit Analysis in a Seminary and University Library

Author(s) -

Verena Getahun,

William A. Keillor

Publication year - 2009

Publication title -

theological librarianship

Language(s) - English

Resource type - Journals

ISSN - 1937-8904

DOI - 10.31046/tl.v2i2.108

Subject(s) - vendor , theological seminary , cost analysis , open access journal , cost structure , library science , economics , business , operations research , computer science , marketing , engineering , political science , theology , agricultural economics , scopus , philosophy , law , medline

This essay considers how cost-benefit analysis may be used in a small to mid-sized library to identify cost-savings in the acquisitions of monographs. The essay highlights parallel studies conducted at Luther Seminary Library and Bethel University Library which compared prices, discounts, and time costs across a range of vendor types to identify whether searching for the best price per item is cost-effective, and how much this strategy could save yearly in acquisitions. Both libraries found that substantial potential savings were identified through this study.

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