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A Net Present Value Assessment of Make-To-Order and Make-To-Stock Manufacturing Systems
Jönköping University, School of Engineering, JTH, Industrial Engineering and Management. Jönköping University, School of Engineering, JTH. Research area Industrial Engineering and Management.
2007 (English)In: Omega: The International Journal of Management Science, ISSN 0305-0483, E-ISSN 1873-5274, Vol. 35, no 5, p. 524-532Article in journal (Refereed) Published
Abstract [en]

This paper shows the impact of using the net present value (NPV) on parameter selection in the ordering policy of a production planning and control system. Using a well understood and documented model, the net present value is used as an objective function to determine the discounted future variance costs resulting from the model's dynamics. The NPV of the variance (NPVv) is defined and applied to the model under make-to-order and make-to-stock conditions. We show that the cost structure of the manufacturing system defines the NPVv and hence aids in identifying the most appropriate control strategy to apply.

Place, publisher, year, edition, pages
2007. Vol. 35, no 5, p. 524-532
Keywords [en]
System simulation, Dynamic modelling, Financial performance
National Category
Engineering and Technology
Identifiers
URN: urn:nbn:se:hj:diva-3076DOI: 10.1016/j.omega.2005.09.006OAI: oai:DiVA.org:hj-3076DiVA, id: diva2:33896
Available from: 2007-07-09 Created: 2007-07-09 Last updated: 2017-12-12Bibliographically approved

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Wikner, Joakim

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