Journal article
Evaluating Flexible Manufacturing Systems
Abstract
Many firms are considering Flexible Manufacturing Systems (FMS) as a means for increasing productivity, quality and profitability. In this paper a methodology for properly comparing and evaluating FMS's is presented, The appropriate financial criteria are presented. Mathematical models of different FMS's are presented. The important stochastic variables are determined. The principles of stochastic dominance, risk preference and the value of …
Authors
Miltenburg GJ; Krinsky I
Journal
IIE Transactions, Vol. 19, No. 2, pp. 222–233
Publisher
Taylor & Francis
Publication Date
June 1987
DOI
10.1080/07408178708975390
ISSN
0740-817X