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Transactions: WSEAS TRANSACTIONS ON SYSTEMS
Transactions ID Number: 29-410
Full Name: Josef Hynek
Position: Associate Professor
Age: ON
Sex: Male
Address: University of Hradec Kralove, Rokitanskeho 62, 500 03 Hradec Kralove
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E-mail address: Josef.Hynek@uhk.cz
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Title of the Paper: Problems associated with investment in advanced manufacturing technology from the management point of view
Authors as they appear in the Paper: Josef Hynek, Václav Janeèek, Libuše Svobodová
Email addresses of all the authors: Josef.Hynek@uhk.cz, Vaclav.Janecek@uhk.cz, Libuse.Svobodova@uhk.cz
Number of paper pages: 10
Abstract: Utilization of advanced manufacturing technology is considered as one of the key factors that help manufacturing companies worldwide to reduce the cost of manufacturing, improve the quality of their products, increase the throughput as well as production flexibility and altogether it should help them to maintain or even enhance their competitiveness on global markets. Moreover, manufacturing companies in economically developed countries cannot rely on cheap labor force and massive investments into advanced manufacturing technology seem to be inevitable necessity for them. On the other hand, these companies are under constant economic pressure and their managers are pushed to economize and cut cost whenever possible. Taking into account that investment into advanced technology is as a rule rather expensive, long-term nature and associated with a higher degree of risk especially if the particular company lacks experience with the particular type of technology, it is !
clear that the relevant decision making processes are not easy and straightforward ones. We will describe here some problems associated with investment into advanced manufacturing technology from the management point of view. We will demonstrate that managers show rather reserved attitude towards relevant projects and admit many difficulties when deciding about investment into particular advance manufacturing projects in their companies. We will support our views by selected results of two surveys that we did in the Czech Republic and we will compare our findings with outcomes of the similar surveys in other countries too.
Keywords: Advanced manufacturing technology, Management attitudes, Short-termism, Survey results
EXTENSION of the file: .pdf
Special (Invited) Session: Investment in advanced manufacturing technology difficulties from the management point of view
Organizer of the Session: 613-406
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