Search results for: manufacturing growth
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 8177

Search results for: manufacturing growth

8057 Assessment of the Relationship between Energy Price Dynamics and Green Growth in the Sub-Sharan Africa

Authors: Christopher I. Ifeacho, Adeleke Omolade

Abstract:

The paper examines the relationship between energy price dynamics and green growth in Sub Sahara African Countries. The quest for adopting green energy in order to improve green growth that can engender sustainability and stability has received more attention from researchers in recent times. This study uses a panel autoregressive distributed lag approach to investigate this relationship. Findings from the result showed that energy price dynamics and exchange rates have more short-run significant impacts on green growth in individual countries rather than the pooled result. Furthermore, the long-run result confirmed that inflation and capital have a significant long-run relationship with green growth. The causality test result revealed the existence of a bi-directional relationship between green growth and energy price dynamics. The study recommends caution in a currency devaluation and improvement in renewable energy production in the Sub Sahara Africa in order to achieve sustainable green growth.

Keywords: green growth, energy price dynamics, Sub Saharan Africa, relationship

Procedia PDF Downloads 93
8056 The Role of the Returned Migration in the Regional Economic Growth

Authors: Jessica Ordoñez, Francisco Ochoa, Pascual García

Abstract:

The objective of this paper is to analyze the relationship between return migration in Ecuador and economic growth. The improvement of macroeconomic conditions in Latin America, starting in 2012, makes the region a new migratory destination, in both senses in north-south and south-south flows. Current studies highlight only the role of the entrepreneurial migrant in generating employment and economic growth in the region. Nevertheless, it has not been considered that not all migrants are entrepreneurs and that not all entrepreneurs contribute to economic growth. This research compares the socioeconomic and labor characteristics of migrant returnees working as freelancers in Ecuador. The principal aim is to demystify the role of migrant entrepreneurs in regional growth and to identify socioeconomic characteristics that can enhance growth. A panel econometric model was used, which is part of the information from labor and macroeconomic surveys.

Keywords: economic growth, entrepreneur, migration, returned migration

Procedia PDF Downloads 204
8055 International Trade, Manufacturing and Employment: The First Two Decades of South African Democracy

Authors: Phillip F. Blaauw, Anna M. Pretorius

Abstract:

South Africa re-entered the international economy in the early 1990s, after Apartheid, at a time when globalisation was gathering momentum. Globalisation led to a more open economy, increased export volumes and a changed export mix. Manufacturing goods gained ground relative to mining products. After 21 years of democracy, South African researchers and policymakers need to evaluate the impact of international trade on the level of employment and compensation of employees in the South African manufacturing industry. This is important given the consistent and high levels of unemployment in South Africa. This paper has this evaluation as its aim. Two complimenting approaches are utilised. The 27 sub divisions of the South African manufacturing industry are classified according to capital/labour ratios. Possible trends in employment levels and employee compensation for these categories are then identified when comparing levels in 1995 to those in 2014. The supplementing empirical approach is cross-sectional and panel data regressions for the same period. The aim of the regression analysis is to explain the observed changes in employment and employee compensation levels between 1995 and 2014. The first part of the empirical approach revealed that over the 20-year period the intermediate capital intensive, labour intensive an ultra-labour intensive manufacturing industries all showed massive declines in overall employment. Only three of the 19 industries for these classifications showed marginal overall employment gains. The only meaningful gains were recorded in three of the eight capital intensive manufacturing industries. The overall performance of the South African manufacturing industry is therefore dismal at best. This scenario plays itself out for the skilled section of the intermediate capital intensive, labour intensive an ultra-labour intensive manufacturing industries as well. 18 out of the 19 industries displayed declines even for the skilled section of the labour force. The formal regression analysis supplements the above results. Real production growth is a statistically significant (95 per cent confidence level) explanatory variable of the overall employment level for the period under consideration, albeit with a small positive coefficient. The variables with the most significant negative relationship with changes in overall employment were the dummy variables for intermediate capital intensive and labour intensive manufacturing goods. Disaggregating overall changes in employment further in terms of skill levels revealed that skilled employment in particular responded negatively to increases in the ratio between imported and local inputs for manufacturing. The dummy variable for the labour intensive sectors remained negative and statistically significant, indicating that the labour intensive sectors of South African manufacturing remain vulnerable to the loss of employment opportunities. Whereas the first period (1995 to 2001) after the opening of the South African economy brought positive changes for skilled employment, continued increases in imported inputs displaced some of the skilled labour as well, putting further pressure on the South African economy with already high and persistent unemployment levels. Given the negative for the world commodity cycle and a stagnant local manufacturing sector, the challenge for policymakers is getting even more pronounced after South Africa’s political coming of age.

Keywords: capital/labour ratios, employment, employee compensation, manufacturing

Procedia PDF Downloads 219
8054 Effects of Hypoxic Duration at Different Growth Stages on Yield Potential of Waxy Corn (Zea mays L.)

Authors: S. Boonlertnirun, R. Suvannasara, K. Boonlertnirun

Abstract:

Hypoxia has negative effects on growth and crop yield, its severity is so varied depending on crop growth stages, duration of hypoxia and crop species. The objective was to evaluate the sensitive growth stage and the duration of hypoxia negatively affecting growth and yield of waxy corn. Pot experiment was conducted using a split plot in randomized complete block with 3 growth stages: V3 (3-4 true leaves), V7 (7-8 true leaves), and R1 (silking stage), and three hypoxic durations: 6, 9, and 12 days, in an open–ended outdoor greenhouse during January to March 2013. The results revealed that different growth stages had significantly (p < 0.5) different responses to hypoxia, seeing that the sensitive growth stage affecting plant height, yield and yield components was mostly detected in V7 growth stage whereas leaf greenness and days to silking were sensitive to hypoxia at R1 growth stage. Different hypoxic durations significantly affected the yield and yield components, hypoxic duration of twelve days showed the most negative effect greater than the others. In this present study, it can be concluded that waxy corn plants were waterlogged at V7 growth stage for twelve days had the most negative effect on yield and yield components.

Keywords: hypoxia duration, waxy corn, growth stage, Zea mays L.

Procedia PDF Downloads 390
8053 Sustainable Manufacturing of Concentrated Latex and Ribbed Smoked Sheets in Sri Lanka

Authors: Pasan Dunuwila, V. H. L. Rodrigo, Naohiro Goto

Abstract:

Sri Lanka is one the largest natural rubber (NR) producers of the world, where the NR industry is a major foreign exchange earner. Among the locally manufactured NR products, concentrated latex (CL) and ribbed smoked sheets (RSS) hold a significant position. Furthermore, these products become the foundation for many products utilized by the people all over the world (e.g. gloves, condoms, tires, etc.). Processing of CL and RSS costs a significant amount of material, energy, and workforce. With this background, both manufacturing lines have immensely challenged by waste, low productivity, lack of cost efficiency, rising cost of production, and many environmental issues. To face the above challenges, the adaptation of sustainable manufacturing measures that use less energy, water, materials, and produce less waste is imperative. However, these sectors lack comprehensive studies that shed light on such measures and thoroughly discuss their improvement potentials from both environmental and economic points of view. Therefore, based on a study of three CL and three RSS mills in Sri Lanka, this study deploys sustainable manufacturing techniques and tools to uncover the underlying potentials to improve performances in CL and RSS processing sectors. This study is comprised of three steps: 1. quantification of average material waste, economic losses, and greenhouse gas (GHG) emissions via material flow analysis (MFA), material flow cost accounting (MFCA), and life cycle assessment (LCA) in each manufacturing process, 2. identification of improvement options with the help of Pareto and What-if analyses, field interviews, and the existing literature; and 3. validation of the identified improvement options via the re-execution of MFA, MFCA, and LCA. With the help of this methodology, the economic and environmental hotspots, and the degrees of improvement in both systems could be identified. Results highlighted that each process could be improved to have less waste, monetary losses, manufacturing costs, and GHG emissions. Conclusively, study`s methodology and findings are believed to be beneficial for assuring the sustainable growth not only in Sri Lankan NR processing sector itself but also in NR or any other industry rooted in other developing countries.

Keywords: concentrated latex, natural rubber, ribbed smoked sheets, Sri Lanka

Procedia PDF Downloads 256
8052 The Lean Manufacturing Practices in an Automotive Company Using Value Stream Mapping Technique

Authors: Seher Arslankaya, Merve Si̇mge Usuk

Abstract:

Lean manufacturing, which is based on the Toyota Production System, has focused on increasing the performance in various fields by eliminating the waste. By waste elimination, the lead time is reduced significantly and lean manufacturing provides companies with an important privilege under today's competitive conditions. The initial point of lean thinking is the value. This notion create of a specific product with specific properties for which the customer is ready to pay and which satisfies his needs within a specific time frame and at a specific price. Considering this, the final customer determines the value but the manufacturer creates this value of the product. The value stream is the whole set of activities required for each product. These activities may or may not be essential for the value. Through value stream mapping, all employees can see the sources of waste and develop future cases to eliminate it. This study focused on manufacturing to eliminate the waste which created a cost but did not create any value. The study was carried out at the Department of Assembly/Logistics at Toyota Motor Manufacturing Turkey from the automotive industry with a high product mix and variable demands. As a result of the value stream analysis, improvements are planned for the future cases. The process was improved by applying these suggestions.

Keywords: lead time, lean manufacturing, performance improvement, value stream papping

Procedia PDF Downloads 309
8051 Improved FP-Growth Algorithm with Multiple Minimum Supports Using Maximum Constraints

Authors: Elsayeda M. Elgaml, Dina M. Ibrahim, Elsayed A. Sallam

Abstract:

Association rule mining is one of the most important fields of data mining and knowledge discovery. In this paper, we propose an efficient multiple support frequent pattern growth algorithm which we called “MSFP-growth” that enhancing the FP-growth algorithm by making infrequent child node pruning step with multiple minimum support using maximum constrains. The algorithm is implemented, and it is compared with other common algorithms: Apriori-multiple minimum supports using maximum constraints and FP-growth. The experimental results show that the rule mining from the proposed algorithm are interesting and our algorithm achieved better performance than other algorithms without scarifying the accuracy.

Keywords: association rules, FP-growth, multiple minimum supports, Weka tool

Procedia PDF Downloads 478
8050 Potentials of Additive Manufacturing: An Approach to Increase the Flexibility of Production Systems

Authors: A. Luft, S. Bremen, N. Balc

Abstract:

The task of flexibility planning and design, just like factory planning, for example, is to create the long-term systemic framework that constitutes the restriction for short-term operational management. This is a strategic challenge since, due to the decision defect character of the underlying flexibility problem, multiple types of flexibility need to be considered over the course of various scenarios, production programs, and production system configurations. In this context, an evaluation model has been developed that integrates both conventional and additive resources on a basic task level and allows the quantification of flexibility enhancement in terms of mix and volume flexibility, complexity reduction, and machine capacity. The model helps companies to decide in early decision-making processes about the potential gains of implementing additive manufacturing technologies on a strategic level. For companies, it is essential to consider both additive and conventional manufacturing beyond pure unit costs. It is necessary to achieve an integrative view of manufacturing that incorporates both additive and conventional manufacturing resources and quantifies their potential with regard to flexibility and manufacturing complexity. This also requires a structured process for the strategic production systems design that spans the design of various scenarios and allows for multi-dimensional and comparative analysis. A respective guideline for the planning of additive resources on a strategic level is being laid out in this paper.

Keywords: additive manufacturing, production system design, flexibility enhancement, strategic guideline

Procedia PDF Downloads 120
8049 Assessment of the Relationship Between Energy Price Dynamics and Green Growth in Sub-Saharan Africa

Authors: Christopher Ikechukwu Ifeacho

Abstract:

The paper examines the relationship between energy price dynamics and green growth in Sub Sahara African Countries. The quest for adopting green energy in order to improve the green growth that can engender sustainability, and stability has received more attention from researchers in recent times. This study uses a panel Autoregressive distributed lag approach to investigate this relationship. Findings from the result showed that energy price dynamics and exchange rate have more short-run significant impacts on green growth in individual countries rather than the pooled result. Furthermore, the long-run result confirmed that inflation and capital have a significant long-run relationship with green growth. The causality test result revealed the existence of a bi-directional relationship between green growth and energy price dynamics. The study recommends caution in a currency devaluation and improvement in renewable energy production in the Sub Sahara Africa in order to achieve sustainable green growth.

Keywords: green growth, energy price dynamics, Sub Sahara Africa., sustainability

Procedia PDF Downloads 9
8048 Fiscal Size and Composition Effects on Growth: Empirical Evidence from Asian Economies

Authors: Jeeban Amgain

Abstract:

This paper investigates the impact of the size and composition of government expenditure and tax on GDP per capita growth in 36 Asian economies over the period of 1991-2012. The research employs the technique of panel regression; Fixed Effects and Generalized Method of Moments (GMM) as well as other statistical and descriptive approaches. The finding concludes that the size of government expenditure and tax revenue are generally low in this region. GDP per capita growth is strongly negative in response to Government expenditure, however, no significant relationship can be measured in case of size of taxation although it is positively correlated with economic growth. Panel regression of decomposed fiscal components also shows that the pattern of allocation of expenditure and taxation really matters on growth. Taxes on international trade and property have a significant positive impact on growth. In contrast, a major portion of expenditure, i.e. expenditure on general public services, health and education are found to have significant negative impact on growth, implying that government expenditures are not being productive in the Asian region for some reasons. Comparatively smaller and efficient government size would enhance the growth.

Keywords: government expenditure, tax, GDP per capita growth, composition

Procedia PDF Downloads 468
8047 On the Development of Medical Additive Manufacturing in Egypt

Authors: Khalid Abdelghany

Abstract:

Additive Manufacturing (AM) is the manufacturing technology that is used to fabricate fast products direct from CAD models in very short time and with minimum operation steps. Jointly with the advancement in medical computer modeling, AM proved to be a very efficient tool to help physicians, orthopedic surgeons and dentists design and fabricate patient-tailored surgical guides, templates and customized implants from the patient’s CT / MRI images. AM jointly with computer-assisted designing/computer-assisted manufacturing (CAD/CAM) technology have enabled medical practitioners to tailor physical models in a patient-and purpose-specific fashion and helped to design and manufacture of templates, appliances and devices with a high range of accuracy using biocompatible materials. In developing countries, there are some technical and financial limitations of implementing such advanced tools as an essential portion of medical applications. CMRDI institute in Egypt has been working in the field of Medical Additive Manufacturing since 2003 and has assisted in the recovery of hundreds of poor patients using these advanced tools. This paper focuses on the surgical and dental use of 3D printing technology in Egypt as a developing country. The presented case studies have been designed and processed using the software tools and additive manufacturing machines in CMRDI through cooperative engineering and medical works. Results showed that the implementation of the additive manufacturing tools in developed countries is successful and could be economical comparing to long treatment plans.

Keywords: additive manufacturing, dental and orthopeadic stents, patient specific surgical tools, titanium implants

Procedia PDF Downloads 310
8046 Effects of International Trade on Economic Growth

Authors: Tanimola Kazeem Abiodun

Abstract:

In the paper, attempt was made to investigate the impact of international trade on economic growth at the disaggregate level both from the theoretical and economic angle. The study in its contribution examines this impact at the disaggregated level. To this end, a hypothesis was formulated to investigate the short ?run and long run impact of international trade on growth in the country. In the econometrics investigation that follow, international trade was disaggregated to export and imports and their short run and long run effect on growth was examined. Also, the aggregate international trade was also investigated to see the long run effects of its own growth. The results of the findings indicate that; both export and import impact significantly to growth in the short run. The long-run impact of export on growth was found to be positive, significant and stable both. Engle-Granger co integration test and error correlation mechanism were applied to these long run relationships. For the import, while the short run was found to be positive and significant on its impact on growth, the long run relationship was found to be negative but not significant. Therefore, it is thus recommended among others that the country should engage more on export promotion drives.

Keywords: international trade, disaggregated, import, export, econometrics, trade, economic growth, foreign trade, import, export

Procedia PDF Downloads 409
8045 Loading Methodology for a Capacity Constrained Job-Shop

Authors: Viraj Tyagi, Ajai Jain, P. K. Jain, Aarushi Jain

Abstract:

This paper presents a genetic algorithm based loading methodology for a capacity constrained job-shop with the consideration of alternative process plans for each part to be produced. Performance analysis of the proposed methodology is carried out for two case studies by considering two different manufacturing scenarios. Results obtained indicate that the methodology is quite effective in improving the shop load balance, and hence, it can be included in the frameworks of manufacturing planning systems of job-shop oriented industries.

Keywords: manufacturing planning, loading, genetic algorithm, job shop

Procedia PDF Downloads 294
8044 Strategic Tools for Entrepreneurship: Model Proposal for Manufacturing Companies

Authors: Chiara Mansanta, Daniela Sani

Abstract:

The present paper presents the further development of the application of a standard methodology to boost innovation inside real case studies of manufacturing companies. The proposed methodology provides a viable solution for manufacturing companies that have to evaluate new business ideas. The study underlined the concept of entrepreneurship and how a manager can use it to promote innovation inside their companies. Starting from a literature study on entrepreneurship, this paper examines the role of the manager in supporting a company’s development. The empirical part of the study is based on two manufacturing companies that used the proposed methodology to favour entrepreneurship through an alternative approach. The research demonstrated the need for companies to have a structured and well-defined methodology to achieve their goals. The purpose of this article is to understand the significance of business models inside companies and explore how they affect business strategy and innovation management. The idea is to use business models to support entrepreneurs in their decision-making processes, reducing risks and avoiding errors.

Keywords: entrepreneurship, manufacturing companies, solution validation, strategic management

Procedia PDF Downloads 93
8043 Increasing Productivity through Lean Manufacturing Principles and Tools: A Successful Rail Welding Plant Case

Authors: T. A. Faria, C. C. Toniolo, L. F. Ribeiro

Abstract:

In order to satisfy the costumer’s needs, many sectors of industry and services has been spending major effort to make its processes more efficient. Facing a situation, when its production cannot cover the demand, the traditional way to achieve the production required involves, mostly, adding shifts, workforce, or even more machines. This paper narrates how lean manufacturing supported a dramatic increase of productivity at a rail welding plant in Brazil in order to meet the demand for the next years.

Keywords: productivity, lean manufacturing, rail welding, value stream mapping

Procedia PDF Downloads 358
8042 Growth of Public Listed Construction Companies in Malaysia

Authors: M. C. Theong, F. L. Ang, G. J. Muga

Abstract:

Growth of firms is influenced by environmental changes such as the global and national economy. On the other hand, it indicates the economic situation of a country. Therefore, it is imperative for firms to be sensitive to changes and to stay competitive and remain compatible with the environment. The Malaysian construction industry is prone to environmental changes due to its complexity. In order to survive in the construction industry, focus on the development of the firms themselves to achieve long term their long term goals is vital besides maximizing profits. The objective of this paper is to measure growth of the public listed construction companies in Malaysia and to investigate the development of the companies with highest, moderate and lowest growth. Growth is measured based on the companies' sales between year 2008 and 2012 collected via secondary data collection method. Findings show that the highest average growth created is 235.20 % while the lowest average growth is -22.75%. The construction companies remained active in the construction industry by implementing different sets of strategies and involving in several types of construction projects.

Keywords: growth, Malaysian construction industry, public listed companies, sales

Procedia PDF Downloads 372
8041 'Innovation Clusters' as 'Growth Poles' to Propel Industry 4.0 Capacity Building of small and medium enterprises (SMEs) and Startups

Authors: Vivek Anand, Rainer Naegele

Abstract:

Industry 4.0 envisages 'smart' manufacturing and services, taking the automation of the 3rd Industrial Revolution to the autonomy of the 4th Industrial Revolution. Powered by innovations in technology and business models, this disruptive transformation is revitalising industry by integrating silos across and beyond value chains. Motivated by the challenges faced by SMEs and Startups in understanding and adopting Industry 4.0, this paper aims to analyse the concept of Growth Poles and evaluate the possibility of its application to Innovation Clusters that strive to propel Industry 4.0 adoption and capacity building. The proposed paper applies qualitative research methodologies including focus groups and survey questionnaires to identify the various factors that affect formation and development of Innovation Clusters. Employing content analysis, the interaction between SMEs and other ecosystem players in such clusters is studied. A strong collaborative culture is a key driver of digital transformation and technology adoption across sectors, value chains and supply chains; and will position these cluster-based growth poles at the forefront of industrial renaissance. Motivated by this argument, and based on the results of the qualitative research, a roadmap will be proposed to position Innovation Clusters as Growth Poles and effective ecosystems to support Industry 4.0 adoption in a region in the medium to long term. This paper will contribute to the current understanding of the role of Innovation Clusters in capacity building. Relevant management and policy implications stem from the analysis. Furthermore, the findings will be helpful for academicians and policymakers alike, who can leverage an ‘innovation cluster policy’ to enable Industry 4.0 Growth Poles in their regions.

Keywords: digital transformation, fourth industrial revolution, growth poles, industry 4.0, innovation clusters, innovation policy, SMEs and startups

Procedia PDF Downloads 227
8040 Research on the Efficiency and Driving Elements of Manufacturing Transformation and Upgrading in the Context of Digitization

Authors: Chen Zhang; Qiang Wang

Abstract:

With the rapid development of the new generation of digital technology, various industries have created more and more value by using digital technology, accelerating the digital transformation of various industries. The economic form of human society has evolved with the progress of technology, and in this context, the power conversion, transformation and upgrading of the manufacturing industry in terms of quality, efficiency and energy change has become a top priority. Based on the digitalization background, this paper analyzes the transformation and upgrading efficiency of the manufacturing industry and evaluates the impact of the driving factors, which have very important theoretical and practical significance. This paper utilizes qualitative research methods, entropy methods, data envelopment analysis methods and econometric models to explore the transformation and upgrading efficiency of manufacturing enterprises and driving factors. The study shows that the transformation and upgrading efficiency of the manufacturing industry shows a steady increase, and regions rich in natural resources and social resources provide certain resources for transformation and upgrading. The ability of scientific and technological innovation has been improved, but there is still much room for progress in the transformation of scientific and technological innovation achievements. Most manufacturing industries pay more attention to green manufacturing and sustainable development. In addition, based on the existing problems, this paper puts forward suggestions for improving infrastructure construction, developing the technological innovation capacity of enterprises, green production and sustainable development.

Keywords: digitization, manufacturing firms, transformation and upgrading, efficiency, driving factors

Procedia PDF Downloads 62
8039 Implementation of a Photo-Curable 3D Additive Manufacturing Technology with Grey Capability by Using Piezo Ink-jets

Authors: Ming-Jong Tsai, Y. L. Cheng, Y. L. Kuo, S. Y. Hsiao, J. W. Chen, P. H. Liu, D. H. Chen

Abstract:

The 3D printing is a combination of digital technology, material science, intelligent manufacturing and control of opto-mechatronics systems. It is called the third industrial revolution from the view of the Economist Journal. A color 3D printing machine may provide the necessary support for high value-added industrial and commercial design, architectural design, personal boutique, and 3D artist’s creation. The main goal of this paper is to develop photo-curable color 3D manufacturing technology and system implementation. The key technologies include (1) Photo-curable color 3D additive manufacturing processes development and materials research (2) Piezo type ink-jet head control and Opto-mechatronics integration technique of the photo-curable color 3D laminated manufacturing system. The proposed system is integrated with single Piezo type ink-jet head with two individual channels for two primary UV light curable color resins which can provide for future colorful 3D printing solutions. The main research results are 16 grey levels and grey resolution of 75 dpi.

Keywords: 3D printing, additive manufacturing, color, photo-curable, Piezo type ink-jet, UV Resin

Procedia PDF Downloads 558
8038 Transport Infrastructure and Economic Growth in South Africa

Authors: Abigail Mosetsanagape Mooketsi, Itumeleng Pleasure Mongale, Joel Hinaunye Eita

Abstract:

The aim of this study is to analyse the impact of transport infrastructure on economic growth in South Africa through Engle Granger two step approach using the data from 1970 to 2013. GDP is used as a proxy for economic growth whilst rail transport (rail lines, rail goods transported) and air transport(air passengers carried, air freight) are used as proxies for transport infrastructure. The results showed that there is a positive long-run relationship between transport infrastructure and economic growth. The results show that South Africa’s economic growth can be boosted by providing transport infrastructure. The estimated models were simulated and the results that the model is a good fit. The findings of this research will be beneficial to policy makers, academics and it will also enhance the ability of the investors to make informed decisions about investing in South Africa.

Keywords: transport, infrastructure, economic growth, South Africa

Procedia PDF Downloads 474
8037 Investigating the Relationship between Growth, Beta and Liquidity

Authors: Zahra Amirhosseini, Mahtab Nameni

Abstract:

The aim of this study was to investigate the relationship between growth, beta, and Company's cash. We calculate cash as dependent variable and growth opportunity and beta as independent variables. This study was based on an analysis of panel data. Population of the study is the companies which listed in Tehran Stock exchange and a financial data of 215 companies during the period 2010 to 2015 have been selected as the sample through systematic sampling. The results of the first hypothesis showed there is a significant relationship between growth opportunities cash holdings. Also according to the analysis done in the second hypothesis, we determined that there is an inverse relation between company risk and cash holdings.

Keywords: growth, beta, liquidity, company

Procedia PDF Downloads 392
8036 Compromising Relevance for Elegance: A Danger of Dominant Growth Models for Backward Economies

Authors: Givi Kupatadze

Abstract:

Backward economies are facing a challenge of achieving sustainable high economic growth rate. Dominant growth models represent a roadmap in framing economic development strategy. This paper examines a relevance of the dominant growth models for backward economies. Cobb-Douglas production function, the Harrod-Domar model of economic growth, the Solow growth model and general formula of gross domestic product are examined to undertake a comprehensive study of the dominant growth models. Deductive research method allows to uncover major weaknesses of the dominant growth models and to come up with practical implications for economic development strategy. The key finding of the paper shows, contrary to what used to be taught by textbooks of economics, that constant returns to scale property of the dominant growth models are a mere coincidence and its generalization over space and time can be regarded as one of the most unfortunate mistakes in the whole field of political economy. The major suggestion of the paper for backward economies is that understanding and considering taxonomy of economic activities based on increasing and diminishing returns to scale represent a cornerstone of successful economic development strategy.

Keywords: backward economies, constant returns to scale, dominant growth models, taxonomy of economic activities

Procedia PDF Downloads 368
8035 Performance Optimization on Waiting Time Using Queuing Theory in an Advanced Manufacturing Environment: Robotics to Enhance Productivity

Authors: Ganiyat Soliu, Glen Bright, Chiemela Onunka

Abstract:

Performance optimization plays a key role in controlling the waiting time during manufacturing in an advanced manufacturing environment to improve productivity. Queuing mathematical modeling theory was used to examine the performance of the multi-stage production line. Robotics as a disruptive technology was implemented into a virtual manufacturing scenario during the packaging process to study the effect of waiting time on productivity. The queuing mathematical model was used to determine the optimum service rate required by robots during the packaging stage of manufacturing to yield an optimum production cost. Different rates of production were assumed in a virtual manufacturing environment, cost of packaging was estimated with optimum production cost. An equation was generated using queuing mathematical modeling theory and the theorem adopted for analysis of the scenario is the Newton Raphson theorem. Queuing theory presented here provides an adequate analysis of the number of robots required to regulate waiting time in order to increase the number of output. Arrival rate of the product was fast which shows that queuing mathematical model was effective in minimizing service cost and the waiting time during manufacturing. At a reduced waiting time, there was an improvement in the number of products obtained per hour. The overall productivity was improved based on the assumptions used in the queuing modeling theory implemented in the virtual manufacturing scenario.

Keywords: performance optimization, productivity, queuing theory, robotics

Procedia PDF Downloads 145
8034 Role of Discrete Event Simulation in the Assessment and Selection of the Potential Reconfigurable Manufacturing Solutions

Authors: Mohsin Raza, Arne Bilberg, Thomas Ditlev Brunø, Ann-Louise Andersen, Filip SKärin

Abstract:

Shifting from a dedicated or flexible manufacturing system to a reconfigurable manufacturing system (RMS) requires a significant amount of time, money, and effort. Therefore, it is vital to verify beforehand that the potential reconfigurable solution will be able to achieve the organizational objectives. Discrete event simulation offers the opportunity of assessing several reconfigurable alternatives against the set objectives. This study signifies the importance of using discrete-event simulation as a tool to verify several reconfiguration options. Two different industrial cases have been presented in the study to elaborate on the role of discrete event simulation in the implementation methodology of RMSs. The study concluded that discrete event simulation is one of the important tools to consider in the RMS implementation methodology.

Keywords: reconfigurable manufacturing system, discrete event simulation, Tecnomatix plant simulation, RMS

Procedia PDF Downloads 119
8033 Managing Construction Wastes in Nigeria for Sustainable Development

Authors: Ezekiel Ejiofor Nnadi

Abstract:

Nigeria construction industry is known for its active construction activities. This has earmarked the industry to be the key to economic growth of the nation. It has largest employer of labour and gives sustenance to other industries like manufacturing industry. While this is a sign of growth and prosperity; the waste generated by the industry has always been a problem and a serious concern. It results in wastage of economic gain and has resultant health effect on the populace apart from injury being sustained on sites. This work provides a platform to learn more about construction waste, its management strategy and how to reduce waste production in Nigeria construction industry. Construction sites, waste management authority and public health institutions in Lagos as the centre of most construction activities in Nigeria were selected, and a set of questionnaire was administered to using the systematic sampling technique. Descriptive statistics and relative importance index (RII) technique were employed for the analysis of the data gathered. The findings of the analysis show that excessive wastes reduce contractors’ profit margin and also that some construction wastes contain hazardous and toxic elements such as lead, asbestos or radioactive materials which required proper handling and effective disposal. The conclusion was drawn that the check on waste on construction sites starts with the designers to the contractors who execute on site.

Keywords: construction cost, construction industry, economic growth, materials wastes

Procedia PDF Downloads 269
8032 The Interoperability between CNC Machine Tools and Robot Handling Systems Based on an Object-Oriented Framework

Authors: Pouyan Jahanbin, Mahmoud Houshmand, Omid Fatahi Valilai

Abstract:

A flexible manufacturing system (FMS) is a manufacturing system having the capability of handling the variations of products features that is the result of ever-changing customer demands. The flexibility of the manufacturing systems help to utilize the resources in a more effective manner. However, the control of such systems would be complicated and challenging. FMS needs CNC machines and robots and other resources for establishing the flexibility and enhancing the efficiency of the whole system. Also it needs to integrate the resources to reach required efficiency and flexibility. In order to reach this goal, an integrator framework is proposed in which the machining data of CNC machine tools is received through a STEP-NC file. The interoperability of the system is achieved by the information system. This paper proposes an information system that its data model is designed based on object oriented approach and is implemented through a knowledge-based system. The framework is connected to a database which is filled with robot’s control commands. The framework programs the robots by rules embedded in its knowledge based system. It also controls the interactions of CNC machine tools for loading and unloading actions by robot. As a result, the proposed framework improves the integration of manufacturing resources in Flexible Manufacturing Systems.

Keywords: CNC machine tools, industrial robots, knowledge-based systems, manufacturing recourses integration, flexible manufacturing system (FMS), object-oriented data model

Procedia PDF Downloads 451
8031 Modeling and Characterization of the SiC Single Crystal Growth Process

Authors: T. Wejrzanowski, M. Grybczuk, E. Tymicki, K. J. Kurzydlowski

Abstract:

In the present study numerical simulations silicon carbide single crystal growth process in Physical Vapor Transport reactor are addressed. Silicon Carbide is a perspective material for many applications in modern electronics. One of the main challenges for wider applications of SiC is high price of high quality mono crystals. Improvement of silicon carbide manufacturing process has a significant influence on the product price. Better understanding of crystal growth allows for optimization of the process, and it can be achieved by numerical simulations. In this work Virtual Reactor software was used to simulate the process. Predicted geometrical properties of the final product and information about phenomena occurring inside process reactor were obtained. The latter is especially valuable because reactor chamber is inaccessible during the process due to high temperature inside the reactor (over 2000˚C). Obtained data was used for improvement of the process and reactor geometry. Resultant crystal quality was also predicted basing on crystallization front shape evolution and threading dislocation paths. Obtained results were confronted with experimental data and the results are in good agreement.

Keywords: Finite Volume Method, semiconductors, Physical Vapor Transport, silicon carbide

Procedia PDF Downloads 525
8030 Framework for Decision Support Tool for Quality Control and Management in Botswana Manufacturing Companies

Authors: Mogale Sabone, Thabiso Ntlole

Abstract:

The pressure from globalization has made manufacturing organizations to move towards three major competitive arenas: quality, cost, and responsiveness. Quality is a universal value and has become a global issue. In order to survive and be able to provide customers with good products, manufacturing organizations’ supporting systems, tools, and structures it uses must grow or evolve. The majority of quality management concepts and strategies that are practiced recently are aimed at detecting and correcting problems which already exist and serve to limit losses. In agile manufacturing environment there is no room for defect and error so it needs a quality management which is proactively directed at problem prevention. This proactive quality management avoids losses by focusing on failure prevention, virtual elimination of the possibility of premature failure, mistake-proofing, and assuring consistently high quality in the definition and design of creation processes. To achieve this, a decision support tool for quality control and management is suggested. Current decision support tools/methods used by most manufacturing companies in Botswana for quality management and control are not integrated, for example they are not consistent since some tests results data is recorded manually only whilst others are recorded electronically. It is only a set of procedures not a tool. These procedures cannot offer interactive decision support. This point brings to light the aim of this research which is to develop a framework which will help manufacturing companies in Botswana build a decision support tool for quality control and management.

Keywords: decision support tool, manufacturing, quality control, quality management

Procedia PDF Downloads 561
8029 Time and Cost Efficiency Analysis of Quick Die Change System on Metal Stamping Industry

Authors: Rudi Kurniawan Arief

Abstract:

Manufacturing cost and setup time are the hot topics to improve in Metal Stamping industry because material and components price are always rising up while costumer requires to cut down the component price year by year. The Single Minute Exchange of Die (SMED) is one of many methods to reduce waste in stamping industry. The Japanese Quick Die Change (QDC) dies system is one of SMED systems that could reduce both of setup time and manufacturing cost. However, this system is rarely used in stamping industries. This paper will analyze how deep the QDC dies system could reduce setup time and the manufacturing cost. The research is conducted by direct observation, simulating and comparing of QDC dies system with conventional dies system. In this research, we found that the QDC dies system could save up to 35% of manufacturing cost and reduce 70% of setup times. This simulation proved that the QDC die system is effective for cost reduction but must be applied in several parallel production processes.

Keywords: press die, metal stamping, QDC system, single minute exchange die, manufacturing cost saving, SMED

Procedia PDF Downloads 166
8028 Lotus Mechanism: Validation of Deployment Mechanism Using Structural and Dynamic Analysis

Authors: Parth Prajapati, A. R. Srinivas

Abstract:

The purpose of this paper is to validate the concept of the Lotus Mechanism using Computer Aided Engineering (CAE) tools considering the statics and dynamics through actual time dependence involving inertial forces acting on the mechanism joints. For a 1.2 m mirror made of hexagonal segments, with simple harnesses and three-point supports, the maximum diameter is 400 mm, minimum segment base thickness is 1.5 mm, and maximum rib height is considered as 12 mm. Manufacturing challenges are explored for the segments using manufacturing research and development approaches to enable use of large lightweight mirrors required for the future space system.

Keywords: dynamics, manufacturing, reflectors, segmentation, statics

Procedia PDF Downloads 368