Richard F. Deckro
Advanced Engineering Economics
Productivity, competition, and satisfaction of customer needs drive manufacturers to examine advanced manufacturing techniques such as Flexible Manufacturing Systems, Just-in-Time, CAD/CAM, etc. Technology is available for better production quality and a higher degree of flexibility. The question is to make the investment decision for being competitive based on an economic evaluation. Cost justification problems for AMT investment and related issues are explored in this paper. Literature on economic evaluation methods for advanced technology are summarized along with their applicability and practicality. As a last point, the engineering manager's role in such a decision is discussed
Iyigun, Iffet, "Cost Justification of Advanced Manufacturing Systems" (1992). Engineering and Technology Management Student Projects. 770.