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Capital Budgeting and Flexible Manufacturing

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URI: https://hdl.handle.net/10016/4888
ISSN: 0925-5273
DOI: 10.1016/0925-5273(94)90153-8
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capital_alvarez_IJPE_1994_ps.pdf (1.69 MB)
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1994
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Elsevier
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Abstract
The lack of measurement and evaluation of flexible manufacturing possibilities seriously handicaps the appraisal and justification of investments in flexible technologies. It is the goal of this paper to formulate a comprehensive definition for manufacturing flexibility which can be explicitly translated into economic and financial variables. Further translation is based upon the financial instruments of cash budgeting and capital budgeting. The sensitivity of the economic and financial variables to shifts in manufacturing/operational flexibility will be discussed from a theoretical point of view. It is concluded that operative variables for flexible technologies can become indicators of economic and financial aspects.
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Manufacturing flexibility, Capital budgeting, Cash management, Advanced manufacturing technologies
Bibliographic citation
International Journal of Production Economics, 1994, vol. 36, nº 1, pp. 109-128
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