TY - JOUR
T1 - A model of economic evaluation for the acquisition of flexible manufacturing technologies
AU - Palominos, Pedro
AU - Quezada, Luis
AU - Donoso, Javier
AU - Gonzalez, Miguel
N1 - Publisher Copyright:
© 2019 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0/)
Copyright:
Copyright 2020 Elsevier B.V., All rights reserved.
PY - 2019/1/1
Y1 - 2019/1/1
N2 - Manufacturing companies have to withstand a growing global competition on different strategic dimensions like production costs, product quality, flexible manufacturing and product innovation. To cope with this increased competition, companies invest in solutions based on flexible idea, as flexible assembly systems, flexible selection and picking systems, automated warehouses, etc. However, the high level of technical sophistication and the high investment of this type of technology make the selection of flexible technologies difficult. A linear programming model is proposed, based on the concepts of manufacturing flexibility to make investment decisions when manufacturing multiple products. Finally, we present a numerical example in which optimal acquisition decisions and the value of flexibility are calculated in the context of the decision to invest in the manufacturing plant.
AB - Manufacturing companies have to withstand a growing global competition on different strategic dimensions like production costs, product quality, flexible manufacturing and product innovation. To cope with this increased competition, companies invest in solutions based on flexible idea, as flexible assembly systems, flexible selection and picking systems, automated warehouses, etc. However, the high level of technical sophistication and the high investment of this type of technology make the selection of flexible technologies difficult. A linear programming model is proposed, based on the concepts of manufacturing flexibility to make investment decisions when manufacturing multiple products. Finally, we present a numerical example in which optimal acquisition decisions and the value of flexibility are calculated in the context of the decision to invest in the manufacturing plant.
KW - Evaluation
KW - Flexibility
KW - Industry 4.0
KW - Investment
KW - Manufacturing system
UR - http://www.scopus.com/inward/record.url?scp=85082774293&partnerID=8YFLogxK
U2 - 10.1016/j.promfg.2020.01.420
DO - 10.1016/j.promfg.2020.01.420
M3 - Conference article
AN - SCOPUS:85082774293
VL - 39
SP - 565
EP - 573
JO - Procedia Manufacturing
JF - Procedia Manufacturing
SN - 2351-9789
T2 - 25th International Conference on Production Research Manufacturing Innovation: Cyber Physical Manufacturing, ICPR 2019
Y2 - 9 August 2019 through 14 August 2019
ER -