Economics Of Advanced Manufacturing Systems

The 1980s have witnessed a tremendous growth in the field of computer integrated manufacturing systems. The other major areas of development have been computer-aided design, computer-aided manufacturing, industrial robotics, automated assembly, cellular and modular material handling, computer networking and office automation to name just a few. These new technologies are generally capital intensive and do not conform to traditional cost structures. The net result is a tremendous change in the way costs should be estimated and economic analyses performed. The majority of existing engineering economy texts still profess application of traditional analysis methods. But, as was men tioned above, it is clear that the basic trend in manufacturing industries is itself changing. So it is quite obvious that the practice of traditional economic analysis methods should change too. This book is an attempt to address the various issues associated with non-traditional methods for evaluation of advanced computer-integrated technologies. This volume consists of twenty refereed articles which are grouped into five parts. Part one, Economic Justification Methods, consists of six articles. In the first paper, Soni et at. present a new classification for economic justification methods for advanced automated manufacturing systems. In the second, Henghold and LeClair look at strengths and weaknesses of expert systems in general and more specifically, an ap plication aimed at investment justification in advanced technology. The third paper, by Carrasco and Lee, proposes an enhanced economic methodology to improve the needs analysis, conceptual design and de tailed design activities associated with technology modernization.

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Competence in investment analysis is now a basic requirement for most practicing managers, engineers, and financial analysts in order to avoid possible serious mistakes arising from flawed or inadequate knowledge of the discipline. Furthermore, individuals who make decisions based on technical economics stake their professional futures, in many cases, on the accuracy of such evaluations. The aim of this volume is to provide a balanced view of the essential components of economic and financial analysis including: 1. Strategic and design issues; 2. Principles of cost management systems and activity-based costing, and; 3. Tools for developing the financial measures of investment worth, with advanced topics and case studies in these three areas.This volume provides a refreshing insight into the various methods that engineers, managers, and financial analysts may need to consider to find good alternatives for the investment of scarce resources. Not only are new ventures presented, but also improvements within existing facilities that include process modification, product design, equipment replacement, and plant expansion/contraction.

How to rethink innovation and revitalize America's declining manufacturing sector by encouraging advanced manufacturing, bringing innovative technologies into the production process. The United States lost almost one-third of its manufacturing jobs between 2000 and 2010. As higher-paying manufacturing jobs are replaced by lower-paying service jobs, income inequality has been approaching third world levels. In particular, between 1990 and 2013, the median income of men without high school diplomas fell by an astonishing 20% between 1990 and 2013, and that of men with high school diplomas or some college fell by a painful 13%. Innovation has been left largely to software and IT startups, and increasingly U.S. firms operate on a system of “innovate here/produce there,” leaving the manufacturing sector behind. In this book, William Bonvillian and Peter Singer explore how to rethink innovation and revitalize America's declining manufacturing sector. They argue that advanced manufacturing, which employs such innovative technologies as 3-D printing, advanced material, photonics, and robotics in the production process, is the key. Bonvillian and Singer discuss transformative new production paradigms that could drive up efficiency and drive down costs, describe the new processes and business models that must accompany them, and explore alternative funding methods for startups that must manufacture. They examine the varied attitudes of mainstream economics toward manufacturing, the post-Great Recession policy focus on advanced manufacturing, and lessons from the new advanced manufacturing institutes. They consider the problem of “startup scaleup,” possible new models for training workers, and the role of manufacturing in addressing “secular stagnation” in innovation, growth, the middle classes, productivity rates, and related investment. As recent political turmoil shows, the stakes could not be higher.

This second edition of the classic textbook has been written to provide a completely up-to-date text for students of mechanical, industrial, manufacturing and production engineering, and is an indispensable reference for professional industrial engineers and managers. In his outstanding book, Professor Katsundo Hitomi integrates three key themes into the text: * manufacturing technology * production management * industrial economics Manufacturing technology is concerned with the flow of materials from the acquisition of raw materials, through conversion in the workshop to the shipping of finished goods to the customer. Production management deals with the flow of information, by which the flow of materials is managed efficiently, through planning and control techniques. Industrial economics focuses on the flow of production costs, aiming to minimise these to facilitate competitive pricing. Professor Hitomi argues that the fundamental purpose of manufacturing is to create tangible goods, and it has a tradition dating back to the prehistoric toolmakers. The fundamental importance of manufacturing is that it facilitates basic existence, it creates wealth, and it contributes to human happiness - manufacturing matters. Nowadays we regard manufacturing as operating in these other contexts, beyond the technological. It is in this unique synthesis that Professor Hitomi's study constitutes a new discipline: manufacturing systems engineering - a system that will promote manufacturing excellence. Key Features: * The classic textbook in manufacturing engineering * Fully revised edition providing a modern introduction to manufacturing technology, production managment and industrial economics * Includes review questions and problems for the student reader

Matthew J. Liberatore Department of Management Villanova University Villanova, PA 19085 1. BACKGROUND The weakening competitive position of many segments of u.s. manufacturing has been analyzed, debated and discussed in corporate boardrooms, academic journals and the popular literature. One result has been a renewed commitment toward improving productivity and quality in the workplace. The drive to reduce manufacturing related costs, while meeting ever-changing customer needs, has led many firms to consider more automated and flexible manufacturing systems. The extent to which these new technologies can support business goals in productivity, quality and flexibility is an especially important issue for manufacturing firms in the u.s. and other Western nations. Problems have arisen in developing performance measures and evaluation criteria which reflect the full range of costs and benefits associated with these technologies. Some would argue that managerial policies and attitudes, and not the shortcomings of the equipment or manufacturing processes, are the major impediments to implementation (Kaplan 1984).

This book presents a framework and specific methods and tools for the selection and configuration of the capacity of Advanced Manufacturing Systems (AMS). AMS include Flexible Manufacturing Systems, Dedicated Manufacturing Systems, and Reconfigurable Manufacturing Systems. Starting from the characteristic of the competitive environment, the directions given by the company strategy, data regarding the products, and information regarding the different system architectures, the decision support system described here aids the decision maker by means of a formalized methodology that follows the various steps required to define the type and timing of 'capacity' acquisition and to define the detailed configuration of AMS along its life cycle. The decision making framework and tools illustrated in this volume combine decision-making theory, optimization theory, discrete event simulation and queuing networks. It will be of interest to graduate students and researchers involved in manufacturing engineering, industrial engineering and operations research.