Flexibility in manufacturing has aroused considerable interest among researchers and professionals. However, the vast body of literature on flexibility does not adequately address the kind of flexibility a company needs to meet its strategic objectives, nor how this flexibility can be achieved. We provide an overview of different types of flexibility, provide a classification scheme based on the strategic positioning and goals of the firm, and suggest how these goals may be achieved. We also discuss the importance of such a classification in the design and investment justification of flexible manufacturing.