Process Flexibility

David Simchi-Levi, Xin Chen, Julien Bramel

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

For many manufacturing firms, the ability to match demand and supply is key to their success. Failure to do so could lead to loss of revenue, reduced service levels, negative impact on reputation, and decline in the company’s market share. Unfortunately, recent developments, such as intense market competition, product proliferation, and the increase in the number of products with a short life cycle, have created an environment where customer demand is volatile and unpredictable. In such an environment, traditional operations strategies such as building inventory, investing in capacity buffers, or increasing committed response time to consumers do not offer manufacturers a competitive advantage. Therefore, many manufacturers have started to adopt an operations strategy known as process flexibility to better respond to market changes without significantly increasing cost, inventory, or response time (see Simchi-Levi 2010).

Original languageEnglish (US)
Title of host publicationSpringer Series in Operations Research and Financial Engineering
PublisherSpringer Nature
Pages241-262
Number of pages22
DOIs
StatePublished - 2014

Publication series

NameSpringer Series in Operations Research and Financial Engineering
ISSN (Print)1431-8598
ISSN (Electronic)2197-1773

Keywords

  • Balance System
  • Fill Rate
  • Flexibility Design
  • Incremental Benefit
  • Open Chain

ASJC Scopus subject areas

  • Computational Theory and Mathematics
  • Computational Mathematics
  • Control and Optimization
  • Information Systems and Management
  • Management Science and Operations Research

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