Flexible manufacturing systems: a primer on enhancing productivity while controlling cost

Discusses flexible manufacturing systems (FMS) and measures the benefits of substituting production flexibility for inventory. Compares the trade‐offs that arise in balanced operations, graphical models and some of the associated risks of flexible manufacturing implementation,operation and management. Also addresses the question of selecting flexibility over other techniques as well as benefits which flexibility provides. Examines a brief comparison between traditional and flexible manufacturing. Examples include illustrations of the benefits of FMS and cost flexibility, plus a view of the future role of FMS.