Fuzzy flexibility analysis in automated manufacturing systems

A systematic procedure for quantifying flexibility in monetary terms is proposed and financial models with decision criteria based on present worth, equivalent uniform annual worth, and other discounting technique are used. Many parameters are defined while quantifying flexibility value and are assumed to be accurate numerical estimates. It must be considered, however, that some changes in these numerical estimates may occur. Thus, these parameters can be defined as triangular parameters. Because of this, the fuzzy present worth formulas of the flexibility elements are obtained. Using these formulas, more reliable results can be achieved.