Title

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 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

Print

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

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