Presently, neither traditional financial justification methods nor current multiple criteria decision-making approaches can reasonably justify the investment in Advanced Manufacturing Technology (AMT). In view of this problem, this paper presents a systematic framework, aiming at effectively helping analysts and decision-makers to analyze AMT investments. Based on this framework as well as the swing weighting approach, this paper gives a multi-objective generalized investment-efficiency model (GIEM) for ranking AMT investment alternatives. Finally, the reasonability of applying GIEM to evaluate AMT investments is expounded.