Replacement analysis for components on large scale production systems

Article Abstract:

The availability of essential replacement equipment is critical for maintaining satisfactory large scale production system performance. The tedious task of component monitoring can be eliminated by following a generalized population modeling approach, which organizes components into 'streams' and tracks them using data from representative components. The model, however, requires numerous other data for the formulation of an appropriate replacement analysis framework. Technology is assumed to exert a linear effect on the model's capital cost, while effects on operating costs are exponential.

Purchasing, Industrial equipment, Maintenance and repair, Replacement of industrial equipment

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A hybrid econometric-neural network modeling approach for sales forecasting

Article Abstract:

A forecasting model for monthly product sales that combines econometric and neural network approaches is presented. The econometric side comprises such time-tested approaches as time series, exponential methods and regression models. Results from the testing of the derived hybrid model show that regression methods enhance neural network performance for a particular product: aging airplanes. Further research is needed to find out whether such a model can be applied to other products.

Econometrics & Model Building, Forecasting, Models, Computer networks, Forecasts and trends, Neural networks, Econometrics, Sales, Business forecasting, Business models

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Scrap minimization in production processes with stochastic outputs

Article Abstract:

A study was conducted to examine the possibility of scrap minimization for production processes under stochastic conditions. The scrap problem, which is also called the cutting stock problem, develops primarily out of the distribution of raw materials in discrete standard sizes. The need for size specifications leads some firms to cut standard sizes which generate excess. It is shown that a method that optimal inputs ratio for eliminating scrap losses can be developed.

Management, Waste products

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