The research for flexible product family manufacturing based on real options
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hdl:2099/16344
Tipus de documentArticle
Data publicació2015-04
EditorOmniaScience
Condicions d'accésAccés obert
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continguts d'aquesta obra estan subjectes a la llicència de Creative Commons
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Reconeixement-NoComercial 3.0 Espanya
Abstract
Purpose: The goal of this paper is to find the best production strategy for product portfolio,
which means the largest value of the options. And finally, give a case and find the solution of
the optimal production strategy for product portfolio.
Design/methodology/approach: This article, based on the production with characteristics
of a call option and 0-1 integer programming model, build new-product portfolio strategy, and
through case demonstrate that traditional method underestimates the value of the product
portfolio.
Finding: According to market being volatility and uncertainty and the production can being
delayed, firms can flexibly arrange the best time for products to manufacture. Use real options
theory to analyze product decision and the best production timing decision. Find the total
options value is higher than the traditional methods.
Research limitations/implications: We are not applied to real option pricing theory in
modular flexible production system. We just applied real option pricing theory to the product
platform. The basic model need to improve. While the thinking of this paper provides some
research ideas for flexible production systems based on real option in further research.
CitacióJin, Maozhu; Tian, Xiangguo. The research for flexible product family manufacturing based on real options. "Journal of Industrial Engineering and Management", Abril 2015, vol. 8, núm. 1, p. 72-84.
Dipòsit legalB-28744-2008
ISSN2013-0953
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