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Article: Machine selection and part assignment analysis under annual budget constraint: a capital budgeting case study.
- Article from:
- Engineering Economist
- Article date:
- June 22, 1998
- Author:
CopyrightCOPYRIGHT 1998 Institute of Industrial Engineers, Inc. (IIE). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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INTRODUCTION
The concept of outsourcing has been practiced for years by manufacturing industry. Outsourcing has both advantages and disadvantages. On the advantage side, organizations that practice outsourcing can increase their resource flexibility. This ability becomes an essential need at present since the product life cycle tends to be shorter than that in the past. Outsourcing enables organizations to direct their limited workforce and capital toward crucial manufacturing processes, rather than having to ration them to sustain other not-too-crucial processes. Outsourcing also allows them to quickly adjust their product design and features to meet the dynamic ...