FOR U.S. INDUSTRIES TO ACHIEVE EXCELLENCE IN WORLD-WIDE MANUFACTURING, IT IS IMPORTANT TO CONSIDER STRATEGIC FACTORS (QUALITATIVE NATURE) IN CONJUNCTION WITH THE TRADITIONAL ANALYTICAL METHODS OF ECONOMIC JUSTIFICATION, SUCH AS: RATE OF RETURN, PAY BACK PERIOD, ETC. HOWEVER, IT IS DIFFICULT TO ASSESS AND INCORPORATE THE IMPACT OF STRATEGIC FACTORS IN ECONOMIC DECISION MAKING, DUE TO THEIR INHERENT COMPLEXITY. AS A PART OF THE ECONOMIC JUSTIFICATION RESEARCH, AN ATTEMPT HAS BEEN MADE TO INVESTIGATE THE DIFFICULTIES OF INCORPORATING THE STRATEGIC FACTORS IN THE OVERALL ECONOMIC JUSTIFICATION PROCESS. IN THIS PAPER, A GENERAL FRAMEWORK FOR CARRYING OUT ECONOMIC JUSTIFICATION OF ADVANCED MANUFACTURING SYSTEMS IS PRESENTED. THE STRATEGIC OPTIMIZATION CYCLE FORMS THE CORE OF THE ECONOMIC JUSTIFICATION FRAMEWORK PROPOSED, AND IT INVOLVES FOUR LEVELS: TENTATIVE SELECTION OF AUTOMATION LEVELS, Q
| Number of Pages : | 12 |
| Published : | 06/01/1990 |
