| reason commonly cited for the large trade deficit, closing of manufacturing plants, and loss of related employment in the United States is a lack of global competitiveness in U.S. manufacturing industries. An important competitive weapon in manufacturing is a high quality, low cost, efficient, and flexible manufacturing system that reduces market lead time. The correct application of computer-integrated manufacturing systems (CIMS) and other advanced manufacturing technologies (AMT) is often considered a method of obtaining these capabilities.;While these technologies have been rapidly developed, there exists a wide gap between this development of new technology and adoption. One principal reason cited for the low level of adoption and successful implementation of CIMS and AMT is the inappropriate application of economic justification techniques and a low utilization of analytic and strategic justification procedures that appear useful for advanced technology justification. Industry executives have stated that justification procedures based on internal rates of return or short payback periods are perhaps the greatest single barrier to adoption of new manufacturing technologies by U.S. industries.;This study empirically investigates the use of these justification methods in industry. A sample of 1054 large (1992 capital expenditures over... |
