Nuclear logging is one of major areas of logging development. This paper presents an empirical investigation to bring the drilling and completion of wells from an ill-defined art to a refined sci-ence by using radioactive source to “look and measure” such as formation type, formation dip, porosity, fluid type and numerous other important factors. The initial nuclear logging tools rec-ords the radiation emitted by formation as they were crossed by boreholes. Gamma radiation is used in well logging as it is powerful enough to penetrate the formation and steel casing. The ra-dioactive source is reusable so that after engineer finished the job the radioactive source is sent back to bunker. In this case inventory level of radioactive source is relatively high compared with monthly movement and the company must spend large amount of cost just for inventory. After calculating and averaging the monthly movement in 2014 and 2015, we detected a big pos-sibility to cut the inventory level to reduce the inventory cost.
In this paper, an effort has been put to develop a model for estimating growth based on logit re-gression (logit) and implemented the model to Italian manufacturing companies. Our data set consists of 8232 SMEs of Italy. To estimate the growth of the firm an innovative approach that considers annual statements issued the year before the accelerated growth has been considered as the effective estimators of firm growth. The result of the logit showed that return on asset, log (cash flow) and log (Inventory) positively affect in estimating the growth of the high growth firm whereas working capital turnover times negatively affects in estimating the growth of the firm. The discriminant power of the model using Receiver Operating Characteristics curve shows 72.35%, which means the model is fair in terms of estimating the growth.
Activity-Based-Model (ABC) is used for the purpose of significant improvement for overhead accounting systems by providing the best information required for managerial decision. This pa-per discusses implacability of ABC technique on inventory valuation as a management account-ing innovation. In order to prove the applicability of ABC for inventory control a material driven medium-sized and privately owned company from engineering (iron and steel) industry is select-ed and by analysis of its production process and its material dependency and use of indirect in-ventory, an ABC model is explored for better inventory control. The case revealed that the ne-cessity of ABC in the area of inventory control is significant. The company is not only able to increase its quality of decision but also it can significantly analyze its cost of direct material cost, valuation of direct material and use its implications for better decision making.
Six Sigma is the concept of improving the quality by reducing process variations, making con-tinuous improvements, reducing defect rates and improving the processes. Initially, the concept of Six Sigma focused on defect reduction, cost reduction and value addition. Fundamentally the basic idea of Six Sigma is to improve the process-capability and making the process more relia-ble along with reducing wastes within industries. Evaluation the implication of applying Six Sigma over the small and medium-sized enterprises is the main purpose of this research work taking a particular case of automobile industries. In the present work, DMAIC methodology of Six Sigma is used to a small seat slider lock nut manufacturing unit to reduce the play issue in K2 seat slider lock in automobile units by reducing defects inherent in the process. After apply-ing Six Sigma methodology, it was found that manufacturing units could earn profits in terms of reducing the wastage as well as improving the quality standard of the product by controlling the play issue in seat slider lock nut mechanism. Result shows that with the application of Six Sig-ma, process, sigma level brought up to 5.53σ from 1.59σ by varying the seat slider lock nut di-mensions/size.
Polyester short cut fiber is a textile industry which is rarely explored or researched. This research explains the necessary steps of improvement using Six Sigma method to reduce the nonconform-ing products in a polyester short cut fiber manufacturing in Indonesia. An increased noncon-forming products in the shortcut fiber production process created some quality problems from January to May, 2015. Define, measure, analysis, improve, control (DMAIC) steps were im-plemented to determine root cause of the problems and to improve production process using sta-tistical approach. The results of Six Sigma improvement has indicated that the process capability was increased from 2.2 to 3.1 sigma, savings $18,394.2 USD per-month.
This article addresses the problem of dynamic sequencing on n identical parallel machines with stochastic arrivals, processing times, due dates and sequence-dependent setups. The system operates under a completely reactive scheduling policy and the sequence of jobs is determined with the use of dispatching rules. Seventeen existing dispatching rules are considered including standard and setup-oriented rules. The performance of the system is evaluated by four metrics. An experimental study of the system is conducted where the effect of categorical and continuous system parameters on the objective functions is examined. In light of the results from the simulation experiments, a parameterized priority rule is introduced and tested. The simulation output is analyzed using rigorous statistical methods and the proposed rule is found to produce significantly better results regarding the metrics of mean cycle time and mean tardiness in single machine cases. In respect to three machine cases, the proposed rule matches the performance of the best rule from the set of existing rules which were studied in this research for three metrics.
In this paper, we propose a hybrid metaheuristic algorithm to maximize the production and to minimize the processing time in the steel-making and continuous casting (SCC) by optimizing the order of the sequences where a sequence is a group of jobs with the same chemical characteristics. Based on the work Bellabdaoui and Teghem (2006) [Bellabdaoui, A., & Teghem, J. (2006). A mixed-integer linear programming model for the continuous casting planning. International Journal of Production Economics, 104(2), 260-270.], a mixed integer linear programming for scheduling steelmaking continuous casting production is presented to minimize the makespan. The order of the sequences in continuous casting is assumed to be fixed. The main contribution is to analyze an additional way to determine the optimal order of sequences. A hybrid method based on simulated annealing and genetic algorithm restricted by a tabu list (SA-GA-TL) is addressed to obtain the optimal order. After parameter tuning of the proposed algorithm, it is tested on different instances using a.NET application and the commercial software solver Cplex v12.5. These results are compared with those obtained by SA-TL (simulated annealing restricted by tabu list).
In this paper, the ranking performance of six most popular and easily comprehensive multi-criteria decision-making (MCDM) methods, i.e. weighted sum method (WSM), weighted product method (WPM), weighted aggregated sum product assessment (WASPAS) method, multi-objective optimization on the basis of ratio analysis and reference point approach (MOORA) method, and multiplicative form of MOORA method (MULTIMOORA) is investigated using two real time industrial robot selection problems. Both single dimensional and high dimensional weight sensitivity analyses are performed to study the effects of weight variations of the most important as well as the most critical criterion on the ranking stability of all the six considered MCDM methods. The identified local weight stability interval indicates the range of weights within which the rank of the best alternative remains unaltered, whereas, the global weight stability interval determines the range of weights within which the overall rank order of all the alternatives remains unaffected. It is observed that for both the problems, multiplicative form of MOORA is the most robust method being least affected by the changing weights of the most important and the most critical criteria.
When a supplier announces a price increase at a certain time in the future, for each retailer it is important to choose whether to purchase supplementary stock to take benefit of the current lower price or procure at a new price. This article focuses on the possible effects of price increase on a retailer’s replenishment strategy for constant deterioration of items. Here, quadratic demand is debated; which is appropriate for the products for which demand increases initially and subsequently it starts to decrease with the new version of the substitute. We discuss two scenarios in this study: (I) when the special order time coincides with the retailer’s replenishment time and (II) when the special order time falls during the retailer’s sales period. We determine an optimal ordering policy for each case by maximizing total cost savings between special and regular orders during the depletion time of the special order quantity. Scenarios are established and illustrated with numerical examples. Through, sensitivity analysis important inventory parameters are classified. Graphical results, in two and three dimensions, are exhibited with supervisory decision.
In this paper we introduce the concept of equilibrium for a non-cooperative multiobjective bimatrix game with payoff matrices and goals of Z-Numbers. In the recent studies of the authors, the problem of finding equilibrium for a non-cooperative bimatrix of Z-Numbers are investigated. Multiple payoffs are often dealt with in games because a decision making problem under conflict usually involves multiple objectives or attributes such as cost, time and productivity. We let each of the objectives of the problem correspond to each of the payoffs of the game. To aggregate multiple goals, we employ two basic methods, one by weighting coefficients and the other by a minimum component. In order to find the equilibrium solution in such circumstances, we developed a mathematical programming problem to maximize the aggregated goal subject to constraint of satisfying an aspiration level of confidence in the equilibrium solution. Finally a method is presented to determine the equilibrium solution with respect to the level of achievement to the aggregated goal.