Article ID: | iaor20013291 |
Country: | Netherlands |
Volume: | 70 |
Issue: | 2 |
Start Page Number: | 125 |
End Page Number: | 143 |
Publication Date: | Jan 2001 |
Journal: | International Journal of Production Economics |
Authors: | Vrat Prem, Kanda Arun, Garg Suresh |
Keywords: | simulation: applications, equipment |
Technological flexibility requires very high initial investments and therefore a decision to acquire it is both risky and strategic in nature. The objective of this paper is to find out the technological flexibility requirements in just-in-time manufacturing under different environmental situations. The simulation results show that the incorporation of flexibility in a manufacturing system is vital. The choice of the extent of flexibility is driven by the market and economic factors.