Int. J. of Industrial and Systems Engineering   »   2006 Vol.1, No.1/2

 

 

Title: Designing for manufacturing flexibility: a newsvendor approach

 

Author: Layek L. Abdel-Malek, Nathapol Areeratchakul, Mojisola K. Otegbeye

 

Addresses:
Department of Industrial and Manufacturing Engineering, New Jersey Institute of Technology, Newark, NJ 07102, USA.
Department of Industrial and Manufacturing Engineering, New Jersey Institute of Technology, Newark, NJ 07102, USA,
Department of Industrial and Manufacturing Engineering, New Jersey Institute of Technology, Newark, NJ 07102, USA

 

Abstract: With today's fast paced technology advancement, flexibility has emerged as a strategic imperative for the viability of business enterprises. Central to the success of any flexibility initiative, is the prudent design and selection of production systems to meet the needs of a concern in an uncertain environment. In this paper, we extend the newsvendor problem to optimise the selection of equipments for different flexibility classes and present a numerical example to show the application of the developed model. Though geared towards manufacturing, the model can be extended to other areas such as that of supply chain flexibility.

 

Keywords: manufacturing flexibility; newsvendor problem; optimal flexibility levels; flexible manufacturing; equipment selection; supply chain flexibility; supply chain management; SCM; manufacturing systems design; healthcare systems design.

 

DOI: 10.1504/IJISE.2006.009057

 

Int. J. of Industrial and Systems Engineering, 2006 Vol.1, No.1/2, pp.201 - 220

 

Available online: 21 Feb 2006

 

 

Editors Full text accessAccess for SubscribersPurchase this articleComment on this article