Most enterprises have identified the need for flexibility, but the selection of the right degree of flexibility is a complex task. Sophisticated methods, which consider uncertainties in the valuation model, are time consuming and require a supporting software tool. The existing ones are applicable for very specific planning tasks only. In this paper, a methodology to support the valuation of manufacturing flexibility and PLANTCALC™, a supporting software tool, are presented. Both have been developed in a joint research project of the Institute for Machine Tools and Industrial Management and the Siemens AG.
