A cost function of Greek non-ferrous metal industry

Article Abstract:

A study investigated statistical approach-based methods for analyzing production costs in business planning. Specifically, it used a translog cost function denoting a truncated third-order series Taylor expansion to statistically estimate the cost function of the production process in the Greek non-ferrous metal industry between 1969-1990, identify errors in the production process aided by estimates for specified cost function parameters and use the cost function for medium-term strategic planning.

Models, Usage, Evaluation, Economic aspects, Mathematical models, Manufacturing processes, Manufacturing, Costs, Industrial, Industrial costs, Series, Taylor's, Taylor's series (Mathematics)

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Examples of production dynamics control for cost efficiency

Article Abstract:

An examination of industrial economics provides further proof that faster industries have an indisputably greater level of cost efficiency. This is because speed provides advantageous opportunities to regulate the cumulative effect of individually minor factors which in more laggard operations together add to the snags to an effective resource allocation. Greater cost efficiency is prolonged over time when it is pooled by low inventory obligation.

Resource allocation, Cost control

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On the risk-based aggregate planning for seasonal products

Article Abstract:

A study was conducted to analyze a framework designed to examine the influence of risk incurring at companies producing highly seasonal products. In line with this, elements affecting the decisive factors in sequencing products were examined. Forward and backward processes were then discussed for obtaining the production quantities and sequencing of the products in an aggregate planning horizon.

Operations research, Research, Management science, Analysis, Seasonal industries

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