ECONOMIC JUSTIFICATION METHODS FOR ADVANCED AUTOMATED MANUFACTURING SYSTEMS
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This paper classifies economic justification methodologies developed for automated manufacturing systems in three categories, elucidating the data requirements for each category. The three categories are: 1) Single-objective deterministic approaches, 2) Multi-objective deterministic approaches, and 3) Probabilistic/Stochastic approaches. Various methods belonging to these categories are briefly discussed in the paper.