Investment Decisions In Advanced Manufacturing Technology

First published in 1998, this volume was designed to lead to an operational model of Advanced Manufacturing Technology (AMT) decision making which incorporated the mathematics of fuzzy set theory. The rapid advancement of robotics, automated technologies and software such as CAD and CAM have made such studies paramount. Here, analyses of a questionnaire survey and field study of major UK manufacturing companies together provide a simulating portrayal of AMT investment decision making and have been expanded upon with a model using fuzzy set theory.

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.

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).

Originally published in 1994 this book examines problems related to investment planning, capacity additions, and choice of technology in dynamic manufacturing systems characterized by multiple products, dynamic demand growth, uncertainty in demand and availability of alternative technologies. A model-based methodology is developed that focuses on trade-offs between flexible and conventional technology. The research conducted for this book is directed to the development of tools to support investment decisions in production capacity over medium and long-term planning horizons.

Strategic Decision Making in Modern Manufacturing introduces and explains the AMBIT (Advanced Manufacturing Business ImplemenTation) approach, which has been developed to bridge the gap between strategic management considerations and the operational effects of technology investment decisions on the manufacturing organisation, so that the likely impact of new manufacturing technology and/or programme implementations can be evaluated, anticipated and accurately predicted. The AMBIT approach focuses specifically on the non-financial aspects of such investment decisions and offers an approach that allows a manager, or more frequently a management team, to understand the impacts of a new technology or a new programme on the manufacturing organisation in terms of manufacturing performance.

Management of Research and Development Organizations Managing the Unmanageable R. K. Jain and H. C. Triandis Written by the manager of a large research and development organization and a leading behavioral scientist, this book explores some of the essential topics in R&D management while providing hands-on guidance for putting specific techniques to work. 1990 (0 471-50791-1) 268 pp. Managing Technology in the Decentralized Firm Albert H. Rubenstein Technology has traditionally advanced faster than our ability to manage it. Here is a book designed to assist the professional in furthering the corporate technology program through its effective management. Based on studies of over 200 decentralized firms spanning a period of thirty years, Managing Technology in the Decentralized Firm addresses crucial aspects of the research and development and innovation processes, and suggests how to make them pay off. 1989 (0 471-61024-0) 476 pp. Statistical Quality Control for Manufacturing Managers William S. Messina In today’s competitive environment, the responsibility of the manufacturing manager has expanded to include ownership of the quality of the products coming off the line. The author uses real-life business situations to demonstrate how a manager can incorporate statistical quality control (SQC) into virtually any manufacturing line. He also offers practical advice on techniques managers can use to improve quality, increase productivity, and enhance the competitive position of the line. 1987 (0 471-85774-2) 331 pp. Management of Technological Change Yassin Sankar Technology produces changes within the organization that must be considered for effective implementation of innovations. This book focuses on the dynamics of technological change, especially the human aspects. The author examines the impact of technological change on job design, work flow, job stress, the elements of corporate culture, the organizational system, the information technology of the organization, the leadership style and strategic premises, the organizational design, and the value systems of managers and the organization. 1991 (0 471-63147-7) 374 pp.