scholarly journals Modeling Equipment Procurement Strategic Decisions Competing for Limited Available Budget under Redundant Accessory Cost

2015 ◽  
Vol 4 (2) ◽  
pp. 80
Author(s):  
C. O. Osueke ◽  
B. O. Akinnuli ◽  
O. O. Ojo
Keyword(s):  
Large Scale ◽  
Critical Factor ◽  
Spare Part ◽  
Spare Parts ◽  
Strategic Decisions ◽  
Manufacturing Company ◽  
To Come ◽  
Optimum Model ◽  
Procurement Strategies ◽  
Present Event

<p>The challenges that used to come up as a result of project failure have to do with improper planning. This is looking into future what can occur based on present event. In financing equipment or machinery, the capital in hand is a critical factor that determines equipment procurement strategies. There is need for an optimum model to control the available budget to be put in place in order to optimally allot the available budget to the machines, spare parts and miscellaneous costs under the redundant of accessory cost. This study identified the financial strategic decisions for machines, spare parts and miscellaneous costs, developed mathematical models for the identified strategic decisions, test and evaluate the performance of the developed models. In this study, three strategic decisions were considered (i.e., machines, spare parts and miscellaneous costs) and the optimum model to control the budget for machines, spare parts and miscellaneous costs are dealt with under the redundant accessory cost. This is because an existing manufacturing company or industry has high inventory of accessories which always aid the performance of machine in the industry. Therefore, it is necessary to optimally allot the available budget on the machine(s) to be procured, spare part to be stocked and miscellaneous cost. The amount allotted to machines, spare parts and miscellaneous while budgeting for year 2015 are in this ratio: Machines, ($5,263.83); Spare parts, ($27,723.09); Miscellaneous, ($4,366.03), this based on available small budget of N 6,350.000 of dollar value of US$1,079,500.00. This model is a strong decision tool for allocating available budget in the period of financial scarcity where equipment procurement for production needs must be carried out. This model is highly recommended to any manufacturing company, small, medium and large scale that equipment procurement affects their production in developed and developing countries.</p>

scholarly journals An Optimal Order Quantity Of Spare Parts To Minimize Total Inventory Cost Using Periodic Review Approach (R,s,s) Method In PT. XYZ Bandung

2017 ◽  
Vol 1 (02) ◽  
Author(s):  
Feviana Betsi Purba ◽  
Luciana Andrawina ◽  
Murni Dwi Astuti
Keyword(s):  
Spare Part ◽  
Spare Parts ◽  
Optimal Order ◽  
Periodic Review ◽  
Order Quantity ◽  
Inventory Cost ◽  
Inventory Policy ◽  
Total Saving ◽  
Manufacturing Company ◽  
Total Inventory

The availability of spare parts is very crucial thing for manufacturing company in order to support the continuity of production activities. PT XYZ is a manufacturing company which produces thread into fabric. In this case, inventory control of spare part is not properly managed. Inventory position of spare parts in warehouse is always more than inventory policy of the company itself or called overstock which causes total inventory cost is always high. Company only consider on the order fulfillment of spare parts to prevent downtime on the machine that increase performance of production. Hence, order quantity of spare parts is always excessive or not optimal. In this research, global inventory policy conducted in order to minimize total inventory cost is periodic review approach (R, s, S) method. This inventory policy will be calculated using power approximation and obtained total saving cost of holding cost by 31 % while total saving cost of order cost decreased by 7 %. Overall, total inventory cost minimized by 7 % or equal to Rp138.902.742.

scholarly journals Modified Goal Programming Model for Limited Available Budget Allocation for Equipment Procurement under Inflation Condition

2020 ◽  
pp. 25-35
Author(s):  
O. O. Ojo ◽  
P. K. Farayibi ◽  
B. O. Akinnuli
Keyword(s):  
Goal Programming ◽  
Large Scale ◽  
Programming Model ◽  
Spare Parts ◽  
Strategic Decisions ◽  
Decision Tool ◽  
Multi Objective ◽  
Programming Tool ◽  
Goal Programming Model ◽  
Industrial Needs

Equipment procurement budget is of a great challenge in manufacturing industries by reasons of its multi-objectives, insufficient funds, and inflation problems. Solutions were proffered to these problems by identifying the strategic decisions required in equipment procurement (machine, accessories, spare parts and miscellaneous costs). Procurement changes from year to year based on equipment industrial needs. Hence eleven (11) scenarios for procurement but this study focused on a scenario where all the decisions are needed for procurement. This problem is multi-objective decision problem where there is need for multi-objective decision tool for its solution, therefore a goal programming tool was adopted and improved by integrating inflation model into it to be able to solve inflation problems. International Brewery Ilesha, Nigeria was used as case study for the model’s application to evaluate its performance. The strategic decisions deviated above or positively by 0.4604, 4.1311 and 2.3760 for machines, spare-parts and miscellaneous costs respectively while accessories cost was not deviated. Therefore, the procurement cost for Machines, Accessories, Spare-parts and Miscellaneous costs would be (N 166,015,000; $ 461,152.77), (N 127,968,000; $ 355,466.67), (N 548,075,000; $ 1,522,430.56), (N 271,091,500; $ 753,031.94). US Dollar exchange rate was at N 360 to a Dollar as at the time of this research. This multi-criteria decision tool will find its application useful in small, medium and large scale industries that equipment procurement budget affects their production.v

scholarly journals Data Mining and Statistical Analysis for Available Budget Allocation Pre-procurement of Manufacturing Equipment

2019 ◽  
pp. 1-13
Author(s):  
O. O. Ojo ◽  
B. O. Akinnuli ◽  
P. K. Farayibi
Keyword(s):  
Statistical Analysis ◽  
Decision Maker ◽  
Manufacturing Industry ◽  
Spare Part ◽  
Spare Parts ◽  
Strategic Decision ◽  
High Rate ◽  
Strategic Decisions ◽  
Hidden Data ◽  
The Cost

In a situation where a decision maker faces problems of allotting the available budget on the strategic decisions in a manufacturing industry, data information plays an important role to maintain long run profit in the industry. Statistical analysis was incorporated to determine the correlational strength between the number of years and each of the strategic decisions, their confidence level, and the predicted values. This study identified the strategic areas of addressing the issues which are machine (), accessory (), spare part () and miscellaneous (), exploring the hidden data of the selected strategic decisions from International Brewery Plc, Ilesha and statistical analysis between the number of years and each of the selected strategic decisions. The model used in this work is simple linear regression while Statistical Analysis Software “SAS” was used for its applications. After exploring the hidden data from a case study, the suggested cost of procurement for machines, accessories, spare-parts and miscellaneous are: ₦119,975,000.00; ₦127,968,000.00; ₦134,965,000.00 and ₦33,491,500.00 respectively. From appendix, the probability of each of the strategic decision is less than 0.05 which implies that the Null-Hypothesis is rejected. The number of years has significant effect on Machines, Accessories, Spare-parts and Miscellaneous. As the number of years increases, the cost of procurement of the strategic decisions increases due to high rate of demand and consumption of their products. However, the cost of procurement may fall depending on the level of demand and maintenance culture. Besides, management of the company may ask decision maker to maintain the cost before procurement. This result may be used for further research on optimization of the available budget for equipment procurement.

THE FOREST FOR THE TREES: SOCIETY AND THE HOUSEHOLD IN EARLY MODERN EUROPE

1998 ◽  
Vol 41 (4) ◽  
pp. 1161-1172 ◽  
Author(s):  
JOEL F. HARRINGTON
Keyword(s):  
Large Scale ◽  
University Of Pennsylvania ◽  
Italian Renaissance ◽  
German History ◽  
Early Modern Europe ◽  
Cambridge University ◽  
Johns Hopkins University ◽  
Big Picture ◽  
To Come ◽  
The Ideal

Gender relations in German history: power, agency, and experience from the sixteenth to the twentieth century. Edited by Lynn Abrams and Elizabeth Harvey. London: UCL, 1996. Pp. x+262. ISBN 1-85728-485-2. £12.95.Adultery and divorce in Calvin's Geneva. By Robert M. Kingdon. Cambridge, Mass., and London: Harvard UP, 1995. Pp. ix+214. ISBN 0-674-00520-1 (hb). £18.50.Housecraft and statecraft: domestic service in Renaissance Venice, 1400–1600. By Dennis Romano. Baltimore: Johns Hopkins University Press, 1996. Pp. xxvi+333. ISBN 0-8018-5288-9. £37.00.The European nobility, 1400–1800. By Jonathan Dewald. New approaches to European history, ix. Cambridge: Cambridge University Press, 1996. Pp. xvii+209. ISBN 0-521-42528-x (pb). £12.95.Garden and grove: the Italian Renaissance garden in the English imagination, 1600–1750. By John Dixon Hunt. Philadelphia: University of Pennsylvania, 1996. Pp. xix+268. ISBN 0-8122-1604-0 (pb). £23.50.Like an ancient woodsman or a guide through the Amazonian jungle, the ideal historian possesses at least two kinds of expertise: enough familiarity with the general terrain to plan successful expeditions and enough experience in the field to make inevitable adjustments to ‘the big picture’ when underway. Of course in the real world (of both geography and history) the tasks of exploration and cartography are often bifurcated, without necessarily disastrous results. The historian who is equally skilled at both close-up description and large-scale theorizing is consequently celebrated as a rare and valued anomaly. Meanwhile, for most of us stumbling scouts, the world beyond our familiar trails remains largely one of learned lore, with connections to our own limited forays often vague at best. Unless, of course, we are fortunate enough to come across something which provides an almost magical link between the narrow and the wide, the micro and the macro.

scholarly journals Degree Adjusted Large-Scale Network Analysis Reveals Novel Putative Metabolic Disease Genes

Biology ◽  
2021 ◽  
Vol 10 (2) ◽  
pp. 107
Author(s):  
Apurva Badkas ◽  
Thanh-Phuong Nguyen ◽  
Laura Caberlotto ◽  
Jochen G. Schneider ◽  
Sébastien De Landtsheer ◽  
...  
Keyword(s):  
Network Analysis ◽  
Network Topology ◽  
Large Scale ◽  
Metabolic Diseases ◽  
Critical Factor ◽  
Disease Genes ◽  
Alcoholic Fatty Liver ◽  
Large Scale Network ◽  
Depth Study ◽  
Public Datasets

A large percentage of the global population is currently afflicted by metabolic diseases (MD), and the incidence is likely to double in the next decades. MD associated co-morbidities such as non-alcoholic fatty liver disease (NAFLD) and cardiomyopathy contribute significantly to impaired health. MD are complex, polygenic, with many genes involved in its aetiology. A popular approach to investigate genetic contributions to disease aetiology is biological network analysis. However, data dependence introduces a bias (noise, false positives, over-publication) in the outcome. While several approaches have been proposed to overcome these biases, many of them have constraints, including data integration issues, dependence on arbitrary parameters, database dependent outcomes, and computational complexity. Network topology is also a critical factor affecting the outcomes. Here, we propose a simple, parameter-free method, that takes into account database dependence and network topology, to identify central genes in the MD network. Among them, we infer novel candidates that have not yet been annotated as MD genes and show their relevance by highlighting their differential expression in public datasets and carefully examining the literature. The method contributes to uncovering connections in the MD mechanisms and highlights several candidates for in-depth study of their contribution to MD and its co-morbidities.

When the Complexity of the Large-Scale Development Project Becomes a Roadblock to Access to Justice

2021 ◽  
pp. 1-8
Author(s):  
Pillkyu HWANG ◽  
Yae-Ahn PARK
Keyword(s):  
Scale Development ◽  
Large Scale ◽  
Development Project ◽  
State Enterprise ◽  
Access To Justice ◽  
South Korean ◽  
Western Power ◽  
Power Company ◽  
Hydropower Dam ◽  
To Come

On 23 July 2018, when the villagers gathered around the porch to wrap up the day with a good chat, one of the five auxiliary dams of the Xe-Pian Xe-Namnoy hydropower dam in Attapeu province, the southeastern state of Laos, collapsed. Four days before the collapse, reports of cracks and subsidence started to come through. It should have been enough to prompt evacuation warning issuance by the Xe-Pian Xe-Namnoy Power Co. Ltd (PNPC), a consortium of South Korean companies SK Engineering and Construction (SK E&C) and Korea Western Power Company (KOWEPO), Thailand-based RATCH Group, and Lao Holding State Enterprise (LHSE). PNPC has a Concession Agreement with the Laos government ‘to plan, design, finance, construct, own, operate and maintain’ the Xe-Pian Xe-Namnoy hydropower dam. The warning was issued, but it came too late.

Changes in mechanisms and intensity of Western U.S. floods, 1960-2013

2021 ◽  
Author(s):  
Jessica Fayne ◽  
Huilin Huang ◽  
Mike Fischella ◽  
Yufei Liu ◽  
Zhaoxin Ban ◽  
...  
Keyword(s):  
Extreme Precipitation ◽  
Large Scale ◽  
Critical Factor ◽  
Flood Frequency ◽  
Atmospheric Rivers ◽  
Convective Storms ◽  
Noticeable Increase ◽  
Complex Interactions ◽  
Different Types ◽  
The Impact

&lt;p&gt;Extreme precipitation, a critical factor in flooding, has selectively increased with warmer temperatures in the Western U.S. Despite this, the streamflow measurements have captured no noticeable increase in large-scale flood frequency or intensity. As flood studies have mostly focused on specific flood events in particular areas, analyses of large-scale floods and their changes have been scarce. For floods during 1960-2013, we identify six flood generating mechanisms (FGMs) that are prominent across the Western U.S., including atmospheric rivers and non-atmospheric rivers, monsoons, convective storms, radiation-driven snowmelt, and rain-on-snow, in order to identify to what extent different types of floods are changing based on the dominant FGM. The inconsistency between extreme precipitation and lack of flood increase suggests that the impact of climate change on flood risk has been modulated by hydro-meteorological and physiographic processes such as sharp increases in temperature that drive increased evapotranspiration and decreased soil moisture. Our results emphasize the importance of FGMs in understanding the complex interactions of flooding and climatic changes and explain the broad spatiotemporal changes that have occurred across the vast Western U.S. for the past 50 years.&lt;/p&gt;

scholarly journals Evaluating the Readiness Level of Additively Manufactured Digital Spare Parts: An Industrial Perspective

2018 ◽  
Vol 8 (10) ◽  
pp. 1837 ◽  
Author(s):  
Niklas Kretzschmar ◽  
Sergei Chekurov ◽  
Mika Salmi ◽  
Jukka Tuomi
Keyword(s):  
Additive Manufacturing ◽  
Manufacturing Industry ◽  
Spare Part ◽  
Spare Parts ◽  
Survey Study ◽  
Lead Times ◽  
Supply Networks ◽  
Readiness Level ◽  
End Use ◽  
Technological Limitations

Additive manufacturing of digital spare parts offers promising new possibilities for companies to drastically shorten lead times and to omit storage costs. However, the concept of digital spare parts has not yet gained much footing in the manufacturing industry. This study aims to identify grounds for its selective rejection. Conducted from a corporate perspective, outlining a holistic supply chain network structure to visualize different digital spare part distribution scenarios, this survey study evaluates technical and economic additive manufacturing capabilities. Results are analyzed and discussed further by applying the Mann-Whitney test to examine the influence of the company size and the presence of 3D-printed end-use components within supply networks on gathered data. Machines’ limited build chamber volumes and the necessity of post-processing are considered as the main technical challenges of current additive manufacturing processes. Furthermore, it can be concluded that company sizes have a significant effect on perceived technological limitations. Overall, the results lead to the conclusion that the readiness level of the digital spare parts concept demands for further development.

Balqis restaurant: how to move on?

2017 ◽  
Vol 7 (3) ◽  
pp. 1-19
Author(s):  
Farzana Quoquab ◽  
Shazwani Binti Ahmad ◽  
Wan Nurul Syazwani Binti Wan Danial ◽  
Jihad Mohammad
Keyword(s):  
Subject Area ◽  
Marketing Mix ◽  
Business Success ◽  
Strategic Decisions ◽  
Gradual Improvement ◽  
Content Type ◽  
To Come ◽  
Set Up ◽  
The Right ◽  
The Cost

Subject area This case can be used in marketing management as well as consumer behaviour courses. Study level/applicability This case is suitable to use in advanced undergraduate levels, MBA and MSc in marketing courses that cover topics related to market segmentation and marketing mix strategies. Case overview This case highlights the dilemma of an entrepreneur and a manager of a restaurant who were to take a decision about the sustainability of their restaurant business. Balqis Restaurant was owned by Danny who was a retiree from Telekom Malaysia. He wanted to open a restaurant business after he came back from his long holiday trip. He conducted market research to find a suitable place to open his Arabic restaurant. He assigned Waleed Masood Abdullah as the manager of Balqis Restaurant. Finally, in June 2010, he opened his long awaited restaurant at Gombak, Kuala Lumpur. The restaurant was known as Qasar before the name was changed to Balqis in 2015 because of copyright issues related to Saba’ restaurant at Cyberjaya. The restaurant was well managed under Danny’s supervision for 4 years and successfully won customers’ hearts and loyalty before he decided to give full responsibility to Waleed in March 2014. Danny trusted Waleed because he taught and trained him. However, under Waleed’s management, Balqis started to lose its customers. Waleed also started to branch out the restaurant to different places in different states; one in Ipoh, and the other in Perak. He invested much money on renovation for all three branches, but one of the restaurants closed down in September 2014. This is because of the fact that they could no longer bear the cost of operations for the restaurant. However, he failed to learn from the mistake; they set up another restaurant, which was in Kuantan, in the same month. The sales were not that encouraging but it did show gradual improvement; yet, they once again sold it to another Arab businessman. Waleed realized his failure in managing the restaurant business in August 2015. He again opted to open another new branch which was questioned by Danny. He was in a rush to open it by the end of December 2015 to ensure that the additional profits from the current restaurants could cover the variables costs if the new restaurants were launched. Based on that, the owner had to make a decision about whether a new branch should be opened or whether they should just retain their restaurant in Gombak. Expected learning outcomes The learning objectives of using this case are as follows. 1. Knowledge enhancement: to help students in understanding the problems faced by a restaurant in expanding its market; to make students aware that a properly blended marketing mix is the key to business success and to broaden students’ views and understanding in targeting the proper market segment in formulating an effective marketing strategy. 2. Skills building: to be able to identify the best marketing strategic decisions to manage the restaurant business for its survival and to develop students’ ability to analyse the existing situation to come up with a viable and effective solution. 3. Attitudinal: to help the students to have intellectual openness in accepting different ways of finding solutions for a particular problem and to assist students in making the right move at the right time. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes. Subject code CSS 8: Marketing.

Access to Formal Credit in the Indian Agriculture: Does Caste matter?

2018 ◽  
Vol 4 (2) ◽  
pp. 169-195
Author(s):  
Karthick V. ◽  
Madheswaran S.
Keyword(s):  
Large Scale ◽  
Descriptive Analysis ◽  
Social Groups ◽  
Critical Factor ◽  
Credit Market ◽  
Access To Resources ◽  
Access To Credit ◽  
Indian Agriculture ◽  
Discrimination Coefficient ◽  
Lower Castes

Access to resources and opportunities can be a critical factor in improving outcomes for disadvantaged groups. Improving access to financial resources, in particular, is widely acknowledged to facilitate upward economic and social mobility. Conversely, lack of access to resources for certain groups based on caste, class, gender and ethno-social identities can perpetuate inequalities. In this context, this paper attempts to analyse the access to credit by social groups and decomposes the gross credit differentials using Oaxaca-blinder decomposition method using unit-level data from the All India Debt and Investment Survey, NSSO, 2013. The descriptive analysis clearly shows that there is a significant credit differential between forward caste (FC) and other social groups (SC, ST and OBC). Access to credit varies across social groups based on many factors. The decomposition result indicates that the discrimination coefficient against SC is 49per cent which explains that SCs are being discriminated by 49 per cent compared to FCs in the formal credit market. In case of ST, the discrimination coefficient against is 61per cent and for OBC it is 48per cent. Interestingly, the endowment difference is less among ST (38per cent) compared to SC and OBC (around 51 per cent). Also, the FC treatment advantage (benefit of being a FC in the credit market) is 5.7 per cent whereas the cost of being an SC in the credit market (treatment disadvantage) is 35.1 per cent. As expected, the disadvantage component for ST and OBC is 33.1 per cent and 17.8 per cent respectively. Thus, we see that although programmes, schemes and policies to promote the economic empowerment of lower castes through finance have been implemented on a large scale since the 1990s, they have not been very effective.

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