Materials budget allocation: A formula fitness review

This paper describes a formula fitness review project at a top college library. It was discovered that the collection policy was very outdated and the allocation formula was no longer a good fit. Calculations had become arbitrary expressions of years of ad hoc annual adjustments. Although the formula was supposed to support multiobjective allocation decisions, this was not actually happening in an unambiguous fashion. Formula decomposition, formula simplification and multiattribute utility theory suggest that a change from the traditional allocation formulas-including abandoning aggregate topical allocations and FTE-despite the popularity of these variables-is probably in order.