IJSRP, Volume 3, Issue 11, November 2013 Edition [ISSN 2250-3153]
Within the last decade, the importance of flexibility and efficiency has increased in the manufacturing sector. The rising level of uncertainty in consumer preferences has caused many organizations to aggressively search for cost reductions and other sources of competitive advantage. The small and medium scale industries (SMIs) are the backbone of the industrialization process in developing and developed countries. They play a crucial role in increasing the country’s economy. With globalization and free trade agreements, the SMIs are under increasing pressure to adopt advanced manufacturing technologies (AMTs) to be competitive or simply to survive.