Abstract
Flexible packaging is one of the fastest growing segments of the packaging industry, combining paper, plastic film and aluminum foil to deliver a broad array of products for food and beverage, personal care products, and pharmaceutical industries. In order to preserve the quality and safety of the product contained in them, there are currently a variety of flexible packaging equipment options available. However their relative costs and performance differ. This study proposes an application of a ranking methodology to assess a selection of the most suitable flexible packaging equipment. The adequate criteria in the selection of equipment have been identified, and the considered options are assessed, considering the decision maker’s preferences and existing constraints. The options are ranked in terms of their suitability for selecting equipment by using the Electre III method. The results obtained from the simulation experiment highlight the effectiveness of the model in outranking different options in the process of equipment selection.
Highlights
In the contemporary competitive manufacturing environment, to cope with increasingly high consumer expectations regarding quality products and services, shortening of product life cycles, low profit margins, short lead-times and rapid innovation, organizations have to invest and improve their production facilities
The implementation of ELECTRE III method to the equipment selection problem at a leading company working in the field of flexible packaging production is, practically speaking, not feasible in the absence of specialized software
The growth of the flexible packaging industry has led to an increased need for having and using proper selection of new equipment
Summary
In the contemporary competitive manufacturing environment, to cope with increasingly high consumer expectations regarding quality products and services, shortening of product life cycles, low profit margins, short lead-times and rapid innovation, organizations have to invest and improve their production facilities. In order to enhance their production and productivity, practitioners and academics have come to the same conclusion: the firms have to invest in new technology and acquire latest pieces of equipment. Despite the fact that innovation and investment in new technology involve high costs, these represent some of the few sources of growth, being a positive relationship between the development of an enterprise and the equipment investment rates [1]. The adequate equipment selection is time consuming and involves a complex decision. In this process, multiple decision makers, with various expertise and perspectives, are frequently implied and have to deal with ambiguity and uncertainty, such as undifferentiated alternatives, incomplete information and inadequate understanding [2]
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