Dictionary of Accounting Terms: Flexible Manufacturing System (FMS)
Flexible Manufacturing System (FMS)
computer-controlled process technology suitable for producing a moderate variety of products in moderate, flexible volumes. This system reduces setup or changeover times and facilitates the production of differentiated products in small numbers. The shift in emphasis is from mass production of a few products to a job-shop environment in which customized orders are manufactured. Automation allows for better quality and scheduling, rapid changes in product lines, and lower inventories and costs.
