Investment justification in flexible manufacturing systems

Kakati, Munindra; Dhar, Udayan

doi:10.1016/0167-188x(91)90001-i

Cited by 50 publications

(21 citation statements)

References 2 publications

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“…Ngai and Cheng [32] discussed the potential of applying knowledge-based systems in supporting performance management of advanced manufacturing technologies. There are problems posed by traditional cost-accounting systems [16,18,33,34] in the justification of advanced manufacturing systems, such as WCMSs. The application of knowledge-based systems for justification of advanced manufacturing systems has been extensively discussed in the literature [35][36][37][38][39].…”

Section: Development Of a Knowledge-based System For Justification Ofmentioning

confidence: 99%

Development of a knowledge-based system for justification of world-class manufacturing systems

Sunnapwar

Kodali

2006

Proceedings of the Institution of Mechanical Engineers, Part B:

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Since the introduction of the concept 'world-class manufacturing (WCM)', worldclass manufacturing systems (WCMSs) have attracted the attention of industries all over the world. This is evident from the fact that, in recent years, quite a few industries claim they are of 'world class' and many other industries have embarked on their journey to attain 'worldclass' status. The perceptible impact of WCMSs lies in attaining the far-reaching world-class standards, but there is a general challenge offered by WCM to the field of engineering economics, when it is necessary to justify adopting or implementing such new philosophies or systems. Typically, the traditional approaches do not account for the significant intangible benefits offered by systems such as WCM. The present work describes the development of a knowledge-based system for justification of WCMSs, to overcome the above-mentioned deficiency.

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Section: Development Of a Knowledge-based System For Justification Ofmentioning

confidence: 99%

Development of a knowledge-based system for justification of world-class manufacturing systems

Sunnapwar

Kodali

2006

Proceedings of the Institution of Mechanical Engineers, Part B:

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“…Purely quantitative in terms of benefits Pavone (1983) (ROI) and costs Suresh and Meredith (1985) Cost-benefit analysis Purely judgemental in nature Parker et al (1988) (CBA) Hares and Royle (1994) Net present value (NPV) Economic approach: Purely quantitative financial technique with Kaplan (1984) (discounting possible modified hurdle rates to Kakati and Dhar (1991) approach where strategic, operational and financial Kennedy and Sugden (1986) decisions are integrated into measures of success…”

Section: Return On Investmentmentioning

confidence: 99%

Evaluating information technology in dynamic environments: a focus on tailorable information systems

Patel

Irani²

1999

Logistics Information Management

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Article information:To cite this document: Nandish V. Patel Zahir Irani, (1999),"Evaluating information technology in dynamic environments: a focus on tailorable information systems", Logistics Information Management, Vol. 12 Iss 1/2 pp. 32 -39 Permanent link to this document: http://dx.If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractThe question of evaluating evolutionary information systems is problematic because of the diverse range benefits and costs, which display differing natures. Increasingly, information systems have to cope with changing organisational needs that are further complicated by the limitations of "traditional" investment appraisal techniques. The complex interaction between the use of information technology (IT) and its changing organisational setting requires organisations to address how investments in IT/information systems should be evaluated. In this paper the authors consider the problem of evaluating IT/IS investments in dynamic organisational environments with a particular focus on tailorable information systems and the deferred systems design philosophy.

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“…FMS also reduce set-up times, increase production flexibility [9], reduce lead times for new products development, reduce dues dates, and improve product quality [15]. Most of these benefits are intangible and cannot be estimated by purely economic methods, such as calculations of return periods and internal rate of return.…”

Section: Fms and Multicriterialitymentioning

confidence: 99%

“…Among many other strategic advantages, reducing the variability of the automated process, or ensuring timely delivery can bring more significant gains than just reducing costs. Authors [5,7,9,10,11,12] argue that the economic justifications for FMS investments alone cannot make the investment feasible. Usually, only financial reasons hide many of the benefits that the FMS technology can provide.…”

Section: Introductionmentioning

confidence: 99%

Decision-Making for Flexible Manufacturing Systems’ Technology Choice

Sellitto¹,

Mancio²

2018

dtetr

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The purpose of this paper is to present a method for decision-making support for technology´s choice in Flexible Manufacturing Systems (FMS). The object is a manufacturing cell of the automotive industry. The research method is the qualitative-quantitative modeling. In the qualitative part, specialists in automation engineering created three technological scenarios for the implementation of the FMS. In the quantitative part of the research, six members of the management team used a multicriteria decision support method to distribute importance among competitive priorities and to assess how much each technological scenario can influence each competitive priority. The research also proposes two calculation methods for the final merit of the scenarios. According to both methods, the best scenario was the third one, based on the use of robots. The study also concluded that the adoption of the third scenario is better than do nothing, i.e., continuing with the current manual installation.

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Investment justification in flexible manufacturing systems

Cited by 50 publications

References 2 publications

Development of a knowledge-based system for justification of world-class manufacturing systems

Development of a knowledge-based system for justification of world-class manufacturing systems

Evaluating information technology in dynamic environments: a focus on tailorable information systems

Decision-Making for Flexible Manufacturing Systems’ Technology Choice

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