Economic and Financial Justification of Advanced Manufacturing Technologies

Economic and Financial Justification of Advanced Manufacturing Technologies

1st Edition - October 22, 1992

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  • Editors: Hamid R. Parsaei, W.G. Sullivan, T.R. Hanley
  • eBook ISBN: 9781483291352

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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.

Table of Contents

  • Parts: I. Strategic and Design Issues in Investment Analysis. A new paradigm for engineering economy (W.G. Sullivan). Selecting techniques for the financial justification of advanced manufacturing technologies: A contingent approach (G. Azzone et al.). II. Costing Methods in Engineering and Financial Analysis. Activity-based cost management systems in an advanced manufacturing environment (H.R. Liggett et al.). Cost accounting and the justification of advanced manufacturing technologies (U. Roy, D. Slocum). Switching rules for DFM cost estimating (P.F. Ostwald, V.S. Sathyamoorthy). A multi-attribute simulation paradigm for the justification of FMS (J.J. Kim, R.F. Perry). III. Processes for Qualitative and Quantitative Evaluation of Investment Worth. A critical review of project analysis techniques (R.E. Terry et al.). Economic methods for evaluating investments in advanced technologies (J.P. Lavelle, H.R. Liggett). The evolution to strategic justification of advanced manufacturing systems (J. Sarkis). A classification scheme for traditional and non-traditional approaches to the economic justification of advanced automated manufacturing systems (S. Kolli et al.). Utility based justification of advanced manufacturing technology (A.B. Badiru, B.L. Foote). Integrating financial, strategic and tactical factors in advanced manufacturing system technology investment decisions (J.G. Demmel, R.G. Askin). Measuring uncertainty and risk in CIMS environments (J.R. Buck). IV. Case Studies. Justification of high-technology manufacturing equipment: A case study on robotics (N.L. Mills, A.M. Suazo). A generic welding cell justification and planning process (N. Nasr, S. Dodson). Economics of design: Product design for manufacture - A case study (J.T. Luxhoj). Author index. Subject index.

Product details

  • Language: English
  • Copyright: © Elsevier Science 1992
  • Published: October 22, 1992
  • Imprint: Elsevier Science
  • eBook ISBN: 9781483291352

About the Editors

Hamid R. Parsaei

W.G. Sullivan

Affiliations and Expertise

Blacksburg, VA, USA

T.R. Hanley

Affiliations and Expertise

Louisville, KY, USA

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