Multiobjective model for the evaluation of risky advanced manufacturing system technologies

Johann G. Demmel, Ronald Askin

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Advanced Manufacturing System Technologies (AMST) are difficult to evaluate using ordinary financial measures due to the presence of risk and significant intangible factors. Important strategic and tactical advantages of the AMST are undervalued and risk is incorporated into the decisions in a manner that penalizes investment. This approach may also ignore the erosion of competitiveness experienced by do-nothing decisions. This paper proposes a methodology that quantifies financial, strategic, and tactical attributes of each alternative into a single investment decision model with risk, using multiobjective techniques. Based upon work supported in part by the National Science Foundation under Grant No. DMC 85-44993. Appreciation is also given to the Advanced Education Program at Hughes Aircraft Company.

Original languageEnglish (US)
Title of host publicationProceedings of the Industrial Engineering Research Conference
EditorsDeborah A. Mitta, Laura I. Burke, John R. English, Jennie Gallimore, Georgia-Ann Klutke, Gregory L. Tonkay
Place of PublicationNorcross, GA, United States
PublisherPubl by IIE
Pages767-771
Number of pages5
ISBN (Print)0898061326
Publication statusPublished - 1993
Externally publishedYes
EventProceedings of the 2nd Industrial Engineering Research Conference - Los Angeles, CA, USA
Duration: May 26 1993May 28 1993

Other

OtherProceedings of the 2nd Industrial Engineering Research Conference
CityLos Angeles, CA, USA
Period5/26/935/28/93

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ASJC Scopus subject areas

  • Engineering(all)

Cite this

Demmel, J. G., & Askin, R. (1993). Multiobjective model for the evaluation of risky advanced manufacturing system technologies. In D. A. Mitta, L. I. Burke, J. R. English, J. Gallimore, G-A. Klutke, & G. L. Tonkay (Eds.), Proceedings of the Industrial Engineering Research Conference (pp. 767-771). Norcross, GA, United States: Publ by IIE.