Fast high precision decision rules for valuing manufacturing flexibility

DOI10.1016/S0377-2217(98)00374-9MaRDI QIDQ1579468zbMATH OpenOpenAlexFDO

Authors Markus Feurstein, Martin Natter

Publication date 25 February 2002

Published in European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/s0377-2217(98)00374-9

zbMATH Keywords

flexible manufacturing systemsinvestment analysisneural networksstochastic dynamic programs

Mathematics Subject Classification ID

Management decision making, including multiple objectives (90B50) Stochastic programming (90C15) Dynamic programming (90C39) Neural networks for/in biological studies, artificial life and related topics (92B20)

Recommendations

• A quantification of the economic value of flexible capacity
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Cites work

• Generalized Simulated Annealing for Function Optimization
• scientific article; zbMATH DE number 41891 (Why is no real title available?)
• Optimization by simulated annealing
• Strategic growth options

Cited in

(7)

• A nonparametric stochastic procedure for FMS evaluation
• Long term capacity decisions in uncertain markets for advanced manufacturing systems incorporating scope economies
• Measuring flexibility of computer integrated manufacturing systems using fuzzy cash flow analysis
• A quantification of the economic value of flexible capacity
• DESYMA: assessing flexibility for the lifecycle of manufacturing systems
• Valuation of expansion flexibility in flexible manufacturing system investments using sequential exchange options
• Seasonal inventories and the use of product-flexible manufacturing technology

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