Analysis of Imprecise Data: A Buy or Make Decision

Since last couple of decades, make or buy decision becomes more critical. Because companies more focused on their core products and try outsource or buy items that are not very core for their products. While the manufacturing of an item or buy from the outside can be applied to a variety of decisions on the following: a new building, instruments need for the manufacturing of goods, equipment and tooling etc. This research paper mainly covers a buy or makes decision analysis involving imprecise data. We adopted the propagation of errors techniques to evaluate and check alternative (buy or make decision) with estimate errors. The examples of our numerical represent how the proposed error analysis creates more accurate discerning power. When assessing competing alternatives.

Author(s): Syed Abdul Rehman Khan, Dong Qianli, Yu Zhang, Syed Shahid Khan

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