Evaluation and justification of advanced manufacturing technologies
Lim, Kian Hin.
Date of Issue1994
School of Mechanical and Aerospace Engineering
Advanced manufacturing technologies (AMT) have been identified as strategic weapons for competing in the highly competitive markets confronting manufacturers today. However adopting AMT requires heavy investments, and its pay back period is usually longer than that of traditional business ventures. It has been widely reported in research journals that manufacturers were hesitant about investing in AMT because of the difficulties in justifying the investments (Kaplan, 1984; Badiru, Foote and Chetupuzha, 1991). One of the main causes of such difficulties is attributed to the inadequacy of the conventional costing systems in reflecting the actual costs and benefits in modern manufacturing environments.
NANYANG TECHNOLOGICAL UNIVERSITY