An optimal acquisition model for advanced manufacturing technology considering multiple objectives and timing of the acquisition
Date of Publication
1999
Document Type
Master's Thesis
Degree Name
Master of Science in Industrial Engineering
Subject Categories
Engineering Education
College
Gokongwei College of Engineering
Department/Unit
Industrial and Systems Engineering
Thesis Adviser
Dennis Beng Hui
Defense Panel Chair
Rosemary R. Seva
Defense Panel Member
Debbie Ann P. Nacu
Cleta Milagros A. Filmer
Abstract/Summary
Advanced Manufacturing Technologies (AMT), such as computer numerical control machines, robotics, and computer-aided design, have been developed in the past few years with the ultimate objective of optimizing production. This study aims to fill the research gap between the two major concerns in AMT acquisition which are the multi-attribute structure of the decision-making process and the timing of the acquisition. For this purpose, a nonlinear programming model is formulated with three objectives: net present value, flexibility, and quality. Given the multiple sequential technological innovations in the future which are predicted by the technological growth curve, the model solves for the optimal time(s) of acquisition and the optimal technology level(s) to acquire such that the benefits to be received by a firm are maximized. The study reveals that an acquisition tends to be justified earlier if little importance is given to net present value and more weight is given to flexibility and quality. Furthermore, the study also shows that if the technological improvement is high, the justification takes only a shorter time as compared to when the technological improvement is low.
Abstract Format
html
Language
English
Format
Accession Number
TG02967
Shelf Location
Archives, The Learning Commons, 12F Henry Sy Sr. Hall
Physical Description
98 leaves
Keywords
Optimal stopping (Mathematical statistics); Sequential analysis; Technological innovations; Research; Industrial
Recommended Citation
Zalatar, W. (1999). An optimal acquisition model for advanced manufacturing technology considering multiple objectives and timing of the acquisition. Retrieved from https://animorepository.dlsu.edu.ph/etd_masteral/2054
