Designing for manufacturing flexibility: a newsvendor approach

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

Research output: Contribution to journalArticlepeer-review

17 Scopus citations

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.

Original languageEnglish (US)
Pages (from-to)201-220
Number of pages20
JournalInternational Journal of Industrial and Systems Engineering
Volume1
Issue number1-2
DOIs
StatePublished - 2006

All Science Journal Classification (ASJC) codes

  • Control and Systems Engineering
  • Industrial and Manufacturing Engineering

Keywords

  • manufacturing flexibility
  • newsvendor
  • optimal flexibility levels

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