A firm chooses the production speed and amount of labor that maximizes profit in a perfectly competitive market. Faster production raises management expenses and the unit cost of production mistakes. Adding workers enhances the division of labor on the production line and raises work-in-process...

Purpose – To provide an update on a paper published in 1987 in IJOPM . Design/methodology/approach – Provides an assessment and update of “An agenda for research on the flexibility of manufacturing processes”. Findings – Gerwin's seminal work added welcome rigor to a concept,...