Determining the value of asset location information systems in a manufacturing environment
The efficiency of manufacturing operations is often seriously affected by significant amounts of time spent searching for misplaced assets. Real-time location systems (RTLS) provide a promising approach for reducing wasted time. Given the difference in information precision and system costs, the quantification of the expected benefits from these systems is a challenging task. In this paper we present an analytic method for calculating the expected savings from a location information system and we demonstrate this through a case example. The model enables us to compare different location information systems and provides insights into the factors that affect the value that each system delivers.
Year of publication: |
2010
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Authors: | Kelepouris, Thomas ; McFarlane, Duncan |
Published in: |
International Journal of Production Economics. - Elsevier, ISSN 0925-5273. - Vol. 126.2010, 2, p. 324-334
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Publisher: |
Elsevier |
Keywords: | Real-time location systems Value of information RFID Tracking |
Saved in:
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