Search results for: empirical process

Authors: Javaid Butt, Habtom Mebrahtu, Hassan Shirvani

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The paper presents an additive manufacturing process for the production of metal and composite parts. It is termed as composite metal foil manufacturing and is a combination of laminated object manufacturing and brazing techniques. The process has been described in detail and is being used to produce dissimilar aluminum to copper foil single lap joints. A three dimensional finite element model has been developed to study the thermo-mechanical characteristics of the dissimilar Al/Cu single lap joint. The effects of thermal stress and strain have been analyzed by carrying out transient thermal analysis on the heated plates used to join the two 0.1mm thin metal foils. Tensile test has been carried out on the foils before joining and after the single Al/Cu lap joints are made, they are subjected to tensile lap-shear test to analyze the effect of heat on the foils. The analyses are designed to assess the mechanical integrity of the foils after the brazing process and understand whether or not the heat treatment has an effect on the fracture modes of the produced specimens.

Keywords: Brazing, Laminated Object Manufacturing, Tensile Lap-Shear Test, Thermo-Mechanical Analysis.

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Authors: Jan Sindelar

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The paper presents an applied study of a multivariate AR(p) process fitted to daily data from U.S. commodity futures markets with the use of Bayesian statistics. In the first part a detailed description of the methods used is given. In the second part two BVAR models are chosen one with assumption of lognormal, the second with normal distribution of prices conditioned on the parameters. For a comparison two simple benchmark models are chosen that are commonly used in todays Financial Mathematics. The article compares the quality of predictions of all the models, tries to find an adequate rate of forgetting of information and questions the validity of Efficient Market Hypothesis in the semi-strong form.

Keywords: Vector auto-regression, forecasting, financial, Bayesian, efficient markets.

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Authors: Kirsten Hoeper, Maike Kriependorf

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This paper firstly discusses the initial situation and problems. Afterward, it defines professional bureaucracies and shows their impact for the OR-work. The OR-center and its actors are shown. Finally, the paper provides the empiric design for detecting the target systems of the different work groups within the OR, the quality criteria in qualitative research and empirical results. It is shown that different groups have different targets in their daily work and that helps for a better understanding. More precisely, by detecting the target systems of these experts, we can ‘bridge’ the different points of view to create a common basis for the work in the OR. One of the aims was to find bridges to overcome separating factors. This paper describes the situation in Germany focusing the Hannover Medical School. It can be assumed that the results can be transferred to other countries using the DRG-System (Diagnosis Related Groups).

Keywords: Hospital, OR, professional bureaucracies, target systems.

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Authors: N. Mahendran, R. Madhuranthi

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Wireless sensor networks (WSNs), are constantly in demand to process information more rapidly with less energy and area cost. Presently, processor based solutions have difficult to achieve high processing speed with low-power consumption. This paper presents a simple and accurate data processing scheme for low power wireless sensor node, based on reduced number of processing element (PE). The presented model provides a simple recursive structure (SRS) to process the sampled data in the wireless sensor environment and to reduce the power consumption in wireless sensor node. Based on this model, to process the incoming samples and produce a smaller amount of data sufficient to reconstruct the original signal. The ModelSim simulator used to simulate SRS structure. Functional simulation is carried out for the validation of the presented architecture. Xilinx Power Estimator (XPE) tool is used to measure the power consumption. The experimental results show the average power consumption of 91 mW; this is 42% improvement compared to the folded tree architecture.

Keywords: Power consumption, energy efficiency, low power WSN node, recursive structure, sleep/wake scheduling.

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Authors: T. Gómez-Navarro, M. García-Melón, D. Díaz-Martín, S. Acuna-Dutra,

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In this paper a new approach to prioritize urban planning projects in an efficient and reliable way is presented. It is based on environmental pressure indices and multicriteria decision methods. The paper introduces a rigorous method with acceptable complexity of rank ordering urban development proposals according to their environmental pressure. The technique combines the use of Environmental Pressure Indicators, the aggregation of indicators in an Environmental Pressure Index by means of the Analytic Network Process method and interpreting the information obtained from the experts during the decision-making process. The ANP method allows the aggregation of the experts- judgments on each of the indicators into one Environmental Pressure Index. In addition, ANP is based on utility ratio functions which are the most appropriate for the analysis of uncertain data, like experts- estimations. Finally, unlike the other multicriteria techniques, ANP allows the decision problem to be modelled using the relationships among dependent criteria. The method has been applied to the proposal for urban development of La Carlota airport in Caracas (Venezuela). The Venezuelan Government would like to see a recreational project develop on the abandoned area and mean a significant improvement for the capital. There are currently three options on their table which are currently under evaluation. They include a Health Club, a Residential area and a Theme Park. The participating experts coincided in the appreciation that the method proposed in this paper is useful and an improvement from traditional techniques such as environmental impact studies, lifecycle analysis, etc. They find the results obtained coherent, the process seems sufficiently rigorous and precise, and the use of resources is significantly less than in other methods.

Keywords: Environmental pressure indicators, multicriteria decision analysis, analytic network process.

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Authors: F.H. Liu, S.H. Chen, R.T. Lee, W.S. Lin, Y.S. Liao

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This paper describes a rapid prototyping (RP) technology for forming a hydroxyapatite (HA) bone scaffold model. The HA powder and a silica sol are mixed into bioceramic slurry form under a suitable viscosity. The HA particles are embedded in the solidified silica matrix to form green parts via a wide range of process parameters after processing by selective laser sintering (SLS). The results indicate that the proposed process was possible to fabricate multilayers and hollow shell structure with brittle property but sufficient integrity for handling prior to post-processing. The fabricated bone scaffold models had a surface finish of 25

Keywords: bioceramic, bone scaffold, rapid prototyping, selective laser sintering

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Authors: Juha Kettunen

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The purpose of this study is to visualize the strategic network of higher education institutions and its strategic directions. The strategy map of the balanced scorecard approach is developed to describe the strategic objectives and their causal relationships in higher education. The empirical part of the study presents the survey results of the desired strategic directions of the network obtained from the teachers and other staff of the member institutions. Research and development projects are the most important form of activity in the network, but education and many other forms also turn out to be important. The results of this study support the argument that a strategic innovation alliance is a suitable and useful way to promote collaboration among European higher education institutions. The results of the study can be used by those who wish to promote such international collaboration among higher education institutions.

Keywords: Balanced scorecard, higher education, social networking, strategic planning.

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Authors: T. Francis Thamburaj, A. Aloysius

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Polymorphism is one of the main pillars of objectoriented paradigm. It induces hidden forms of class dependencies which may impact software quality, resulting in higher cost factor for comprehending, debugging, testing, and maintaining the software. In this paper, a new cognitive complexity metric called Cognitive Weighted Polymorphism Factor (CWPF) is proposed. Apart from the software structural complexity, it includes the cognitive complexity on the basis of type. The cognitive weights are calibrated based on 27 empirical studies with 120 persons. A case study and experimentation of the new software metric shows positive results. Further, a comparative study is made and the correlation test has proved that CWPF complexity metric is a better, more comprehensive, and more realistic indicator of the software complexity than Abreu’s Polymorphism Factor (PF) complexity metric.

Keywords: Cognitive complexity metric, cognitive weighted polymorphism factor, object-oriented metrics, polymorphism factor, software metrics.

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Authors: T. Hopkin, S. Lu, P. Rogers, M. Sexton

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Housing Associations (HAs) contribute circa 20% of the UK’s housing supply. HAs are however under increasing pressure as a result of funding cuts and rent reductions. Due to the increased pressure, a number of processes are currently being reviewed by HAs, especially how they manage and learn from defects. Learning from defects is considered a useful approach to achieving defect reduction within the UK housebuilding industry. This paper contributes to our understanding of how HAs learn from defects by undertaking an initial round table discussion with key HA stakeholders as part of an ongoing collaborative research project with the National House Building Council (NHBC) to better understand how house builders and HAs learn from defects to reduce their prevalence. The initial discussion shows that defect information runs through a number of groups, both internal and external of a HA during both the defects management process and organizational learning (OL) process. Furthermore, HAs are reliant on capturing and recording defect data as the foundation for the OL process. During the OL process defect data analysis is the primary enabler to recognizing a need for a change to organizational routines. When a need for change has been recognized, new options are typically pursued to design out defects via updates to a HAs Employer’s Requirements. Proposed solutions are selected by a review board and committed to organizational routine. After implementing a change, both structured and unstructured feedback is sought to establish the change’s success. The findings from the HA discussion demonstrates that OL can achieve defect reduction within the house building sector in the UK. The paper concludes by outlining a potential ‘learning from defects model’ for the housebuilding industry as well as describing future work.

Keywords: Defects, new homes, housing associations, organizational learning.

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Authors: R.Muthuvelayudham, T.Viruthagiri

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Response Surface Methodology (RSM) is a powerful and efficient mathematical approach widely applied in the optimization of cultivation process. Cellulase enzyme production by Trichoderma reesei RutC30 using agricultural waste rice straw and banana fiber as carbon source were investigated. In this work, sequential optimization strategy based statistical design was employed to enhance the production of cellulase enzyme through submerged cultivation. A fractional factorial design (26-2) was applied to elucidate the process parameters that significantly affect cellulase production. Temperature, Substrate concentration, Inducer concentration, pH, inoculum age and agitation speed were identified as important process parameters effecting cellulase enzyme synthesis. The concentration of lignocelluloses and lactose (inducer) in the cultivation medium were found to be most significant factors. The steepest ascent method was used to locate the optimal domain and a Central Composite Design (CCD) was used to estimate the quadratic response surface from which the factor levels for maximum production of cellulase were determined.

Keywords: Banana fiber, Cellulase, Optimization, Rice straw

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Authors: Vishal Naranje, Shailendra Kumar

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Metal stamping die design is a complex, experiencebased and time-consuming task. Various artificial intelligence (AI) techniques are being used by worldwide researchers for stamping die design to reduce complexity, dependence on human expertise and time taken in design process as well as to improve design efficiency. In this paper a comprehensive review of applications of AI techniques in manufacturability evaluation of sheet metal parts, die design and process planning of metal stamping die is presented. Further the salient features of major research work published in the area of metal stamping are presented in tabular form and scope of future research work is identified.

Keywords: Artificial Intelligence, Die design, ManufacturabilityEvaluation, Metal Stamping Die.

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Authors: Andreas Ahrens, Ojaras Purvinis Jelena Zāšcerinska

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A successful shopping experience without overcrowded shops and long waiting times undoubtedly leads to the release of happiness hormones and is generally considered as the goal of any optimization. Factors influencing the shopping experience can be divided into internal and external ones. External factors are related e. g. to the arrival of the customers to the shop whereas internal factors are linked with the service process itself when checking out (waiting in the queue to the cash register and the scanning of the goods as well as the payment process itself) or any other non-expected delay when changing the status from a visitor to a buyer by choosing goods or items. This paper divides the customer-server interaction in five phases starting with the customer arrival at the shop, the selection of goods, the buyer waiting in the queue to the cash register, the payment process and ending with the customer or buyer departure. Our simulation results show how five phases are intertwined and influence the overall shopping experience. Parameters for measuring the shopping experience based on a burstiness level in each of the five phases of the customer-server interaction are estimated.

Keywords: Customers’ burstiness, cash register, customers’ waiting time, gap distribution function.

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Authors: Moghadazadeh Zahra, Towfighi Jafar, Mofarahi Masoud

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This article is presented an experimental and modeling study of a four-bed pressure swing adsorption process using zeolite13X to provide oxygen-enriched air. The binary mixture N2/O2 (79/21 vol %) was used as a feed stream. The effects of purge/feed ratio (P/F), adsorption pressure, cyclic time and product flow rate on product purity and recovery under nonisothermal condition were studied. The adsorption dynamics of process were determined using a mathematical model incorporated mass and energy balances. A Mathlab code using finite difference method was developed to solve the set of coupled differential-algebraic equations, and the simulation results are agreed well with experimental results.

Keywords: Pressure swing adsorption (PSA), Oxygen, Zeolite 13X.

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Authors: Ali Hajiha, Farhad Ghaffari, Nooshin Gholamali Tehrani

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This study aims at investigating the empirical relationships between risk preference, internet preference, and internet knowledge which are known as user characteristics, in addition to perceived risk of the customers on the internet purchase intention. In order to test the relationships between the variables of model 174, a questionnaire was collected from the students with previous online experience. For the purpose of data analysis, confirmatory factor analysis (CFA) and structural equation model (SEM) was used. Test results show that the perceived risk affects the internet purchase intention, and increase or decrease of perceived risk influences the purchase intention when the customer does the internet shopping. Other factors such as internet preference, knowledge of the internet, and risk preference affect the internet purchase intention.

Keywords: Perceived risk, Internet preference, Internetknowledge, Risk preference, Internet purchase intention

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Authors: Javad Akbari, Hassan Borzoie, Mohammad Hossein Mamduhi

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Nowadays, engineering ceramics have significant applications in different industries such as; automotive, aerospace, electrical, electronics and even martial industries due to their attractive physical and mechanical properties like very high hardness and strength at elevated temperatures, chemical stability, low friction and high wear resistance. However, these interesting properties plus low heat conductivity make their machining processes too hard, costly and time consuming. Many attempts have been made in order to make the grinding process of engineering ceramics easier and many scientists have tried to find proper techniques to economize ceramics' machining processes. This paper proposes a new diamond plunge grinding technique using ultrasonic vibration for grinding Alumina ceramic (Al2O3). For this purpose, a set of laboratory equipments have been designed and simulated using Finite Element Method (FEM) and constructed in order to be used in various measurements. The results obtained have been compared with the conventional plunge grinding process without ultrasonic vibration and indicated that the surface roughness and fracture strength improved and the grinding forces decreased.

Keywords: Engineering ceramic, Finite Element Method, Plunge grinding, Ultrasonic vibration.

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Authors: Yong-Gyu Lee, Gilwon Yoon

Abstract:

Bleeding in the digestive duct is an important diagnostic parameter for patients. Blood in the endoscopic image can be determined by investigating the color tone of blood due to the degree of oxygenation, under- or over- illumination, food debris and secretions, etc. However, we found that how to pre-process raw images obtained from the capsule detectors was very important. We applied various image process methods suitable for the capsule endoscopic image in order to remove noises and unbalanced sensitivities for the image pixels. The results showed that much improvement was achieved by additional pre-processing techniques on the algorithm of determining bleeding areas.

Keywords: blood detection, capsule endoscopy, image processing.

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Authors: Maryam Jasim Abdullah, Bassim. H. Graimed, Jalal. S. Hameed

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Demand over web services is in growing with increases number of Web users. Web service is applied by Web application. Web application size is affected by its user-s requirements and interests. Differential in requirements and interests lead to growing of Web application size. The efficient way to save store spaces for more data and information is achieved by implementing algorithms to compress the contents of Web application documents. This paper introduces an algorithm to reduce Web application size based on reduction of the contents of HTML files. It removes unimportant contents regardless of the HTML file size. The removing is not ignored any character that is predicted in the HTML building process.

Keywords: HTML code, HTML tag, WEB applications, Document compression, DOM tree.

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Authors: Young-Kwan Choi, Gang-Wook Shin, Sung-Taek Hong

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Water supply system consumes large amount of power load during water treatment and transportation of purified water. Many energy conserving high efficiency materials such as DC motor and LED light have recently been introduced to water supply system for energy conservation. This paper performed empirical analysis on BLDC and AC motors and comparatively analyzed the change in power according to DC power supply ratio in order to conserve energy of a next-generation water treatment system called vertical water treatment system. In addition, a DC distribution system linked with photovoltaic generation was simulated to analyze the energy conserving effect of DC load.

Keywords: Vertical Water Treatment System, DC Power Supply, Energy Efficiency, BLDC.

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Authors: J. Fernandez de Canete, S. Gonzalez-Perez, P. del Saz-Orozco

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Neural networks offer an alternative approach both for identification and control of nonlinear processes in process engineering. The lack of software tools for the design of controllers based on neural network models is particularly pronounced in this field. SIMULINK is properly a widely used graphical code development environment which allows system-level developers to perform rapid prototyping and testing. Such graphical based programming environment involves block-based code development and offers a more intuitive approach to modeling and control task in a great variety of engineering disciplines. In this paper a SIMULINK based Neural Tool has been developed for analysis and design of multivariable neural based control systems. This tool has been applied to the control of a high purity distillation column including non linear hydrodynamic effects. The proposed control scheme offers an optimal response for both theoretical and practical challenges posed in process control task, in particular when both, the quality improvement of distillation products and the operation efficiency in economical terms are considered.

Keywords: Distillation, neural networks, software tools, identification, control.

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Authors: Raif Parlakkaya, Ahmet Diken, Erkan Kara

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This paper examines the relationship between corporate governance rating and stock prices of 26 Turkish firms listed in Turkish stock exchange (Borsa Istanbul) by using panel data analysis over five-year period. The paper also investigates the stock performance of firms with governance rating with regards to the market portfolio (i.e. BIST 100 Index) both prior and after governance scoring began. The empirical results show that there is no relation between corporate governance rating and stock prices when using panel data for annual variation in both rating score and stock prices. Further analysis indicates surprising results that while the selected firms outperform the market significantly prior to rating, the same performance does not continue afterwards.

Keywords: Corporate governance, stock price, performance, panel data analysis.

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Authors: Dmitry V. Fomichev, Vladimir I. Solonin

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This paper presents the findings from a numerical simulation of the flow in 37-rod fuel assembly models spaced by a double-wire trapezoidal wrapping as applied to the BREST-OD-300 experimental nuclear reactor. Data on a high static pressure distribution within the models, and equations for determining the fuel bundle flow friction factors have been obtained. Recommendations are provided on using the closing turbulence models available in the ANSYS Fluent. A comparative analysis has been performed against the existing empirical equations for determining the flow friction factors. The calculated and experimental data fit has been shown.

An analysis into the experimental data and results of the numerical simulation of the BREST-OD-300 fuel rod assembly hydrodynamic performance are presented.

Keywords: BREST-OD-300, ware-spaces, fuel assembly, computation fluid dynamics.

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Authors: W.M.F. Wan Ishak, N. A. Rowson

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The aim of this study is to compare the effect of the ultrasonic pre treatment on the removal of heavy metals (Iron, Zinc and Copper) from Acid Mine Drainage (AMD) by Denver Cell flotation. Synthetic AMD and individual metal solutions are used in the initial experiments to optimise the process conditions for real AMD. Three different process methods, ultrasound treatment followed by Denver flotation cell, Denver flotation cell alone and ultrasonic treatments run simultaneously with the Denver flotation cell were tested for every sample. Precipitation of the metal solutions by using sodium hydroxide (NaOH) and application of the optimum frother dosage followed by flotation significantly reduced the metal content of the AMD.

Keywords: Ultrasound, Denver cell, Flotation, Heavy metals, AMD

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Authors: Rafael Tedrus Bento

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The analysis of proportionality as a test is raised as a basic foundation for the achievement of Fundamental Rights. We used legal dogmatics and empirical analysis to seek the expected results, from the reading of the RV Oakes trial by the Supreme Court of Canada. In cases involving freedom of expression, two tests are used to resolve disputes. The first examines whether, in fact, the case can be characterized as a violation of freedom of expression; the second assesses whether this violation can be justified by the reasonable limit clause. This test was defined in the RV Oakes trial by the Supreme Court of Canada, concluding with the Oakes Test, used worldwide as a proportionality test. Resulting is a proportionality between the effects of the limiting measure and the objective - the more serious the harmful effects of a measure, the more important the objective must be.

Keywords: Oakes, proportionality. fundamental rights, Canadian Charter of Rights and Freedoms.

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Authors: Leila Mohammadi

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This paper presents the impact of persuasive communication implemented by fertility clinics websites, and how this information influences women at their decision-making for undertaking this procedure. The influential factors for women decisions to do social egg freezing (SEF) are analyzed from a framing theory perspective, with a specific focus on the impact of persuasive information on women’s decision making. This study follows a quantitative approach. A two-phase survey has been conducted to examine the interest rate to undertake SEF. In the first phase, a questionnaire was available during a month (May 2015) to women to answer whether or not they knew enough information of this process, with a total of 230 answers. The second phase took place in the two last weeks of July 2015. All the respondents were invited to a seminars called ‘All about egg freezing’ and afretwards they were requested to answer the second questionnaire. After the seminar, in which they were given an extensive amount of information about egg freezing, a total of 115 women replied the questionnaire. The collected data during this process were analyzed using descriptive statistics. Most of the respondents changed their opinion in the second questionaire which was after receiving information. Although in the first questionnaire their self-evaluation of having knowledge about this process and the implemented technologies was very high, they realized that they still need to access more information from different sources in order to be able to make a decision. The study reached the conclusion that persuasive and framed information by clinics would affect the decisions of these women. Despite the reasons women have to do egg freezing and their motivations behind it, providing people necessary information and unprejudiced data about this process (such as its positive and negative aspects, requirements, suppositions, possibilities and consequences) would help them to make a more precise and reasonable decision about what they are buying.

Keywords: Decision making, fertility clinics, framing theory, persuasive information, social egg freezing.

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Authors: Irena Markovska, Dimitar Rusev, Nikolai Zaicev, Bogdan Bogdanov, Dimitar Georgiev, Yancho Hristov

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A prototype model of an emulsion separator was designed and manufactured. Generally, it is a cylinder filled with different fractal modules. The emulsion was fed into the reactor by a peristaltic pump through an inlet placed at the boundary between the two phases. For hydrodynamic design and sizing of the reactor the assumptions of the theory of filtration were used and methods to describe the separation process were developed. Based on this methodology and using numerical methods and software of Autodesk the process is simulated in different operating modes. The basic hydrodynamic characteristics - speed and performance for different types of fractal systems and decisions to optimize the design of the reactor were also defined.

Keywords: fractal systems, reactor, separation, emulsions

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Authors: Barbora Chmelíková

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Making sound financial decisions is an essential skill which can have an impact on life of each consumer of financial products. The aim of this paper is to examine decision-making concerning financial matters and personal finance. The selected target group was university students majoring in finance related fields. The study was conducted in the Czech Republic at Masaryk University in 2015. In order to analyze financial decision-making questions related to basic finance decisions were developed to address the research objective. The results of the study suggest gaps in detecting best solutions to given financial decision-making questions among finance students. The analysis results indicate relation between financial decision-making and own experience with holding and using concrete financial products.

Keywords: Financial decision-making, financial literacy, personal finance, university students.

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Authors: Jihad S. Daba (Jean-Pierre Dubois), Philip Jreije

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Speckled images arise when coherent microwave, optical, and acoustic imaging techniques are used to image an object, surface or scene. Examples of coherent imaging systems include synthetic aperture radar, laser imaging systems, imaging sonar systems, and medical ultrasound systems. Speckle noise is a form of object or target induced noise that results when the surface of the object is Rayleigh rough compared to the wavelength of the illuminating radiation. Detection and estimation in images corrupted by speckle noise is complicated by the nature of the noise and is not as straightforward as detection and estimation in additive noise. In this work, we derive stochastic models for speckle noise, with an emphasis on speckle as it arises in medical ultrasound images. The motivation for this work is the problem of segmentation and tissue classification using ultrasound imaging. Modeling of speckle in this context involves partially developed speckle model where an underlying Poisson point process modulates a Gram-Charlier series of Laguerre weighted exponential functions, resulting in a doubly stochastic filtered Poisson point process. The statistical distribution of partially developed speckle is derived in a closed canonical form. It is observed that as the mean number of scatterers in a resolution cell is increased, the probability density function approaches an exponential distribution. This is consistent with fully developed speckle noise as demonstrated by the Central Limit theorem.

Keywords: Doubly stochastic filtered process, Poisson point process, segmentation, speckle, ultrasound

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Authors: Huda Al Shuaily, Karen Renaud

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Databases comprise the foundation of most software systems. System developers inevitably write code to query these databases. The de facto language for querying is SQL and this, consequently, is the default language taught by higher education institutions. There is evidence that learners find it hard to master SQL, harder than mastering other programming languages such as Java. Educators do not agree about explanations for this seeming anomaly. Further investigation may well reveal the reasons. In this paper, we report on our investigations into how novices learn SQL, the actual problems they experience when writing SQL, as well as the differences between expert and novice SQL query writers. We conclude by presenting a model of SQL learning that should inform the instructional material design process better to support the SQL learning process.

Keywords: Pattern, SQL, learning, model.

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Authors: Chih-Hsiang Chang

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This study aims to explore the relationship between the disposition effect and herding behavior of investors trading Taiwanese information technology stocks. This study differs from previous literature in two aspects. First, in contrast with the earlier studies that focused on investigating investors’ herding behavior, this study explores the possibility that the disposition effect drives investors’ herding behavior. Additionally, it takes an in-depth look at the interdependence between the disposition effect and herding behavior of investors, including lead-lag relationship and volatility transmission effect. Empirical results show that investors trading Taiwan’s information technology stocks exhibit pronounced herding behavior and that the disposition effect has a great impact on their herding behavior.

Keywords: Herding behavior, Disposition effect, Behavioral finance.

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Authors: Olaniyi O. Omoyajowo

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To be successful in today’s competitive global environment, manufacturing industry must be able to respond quickly to changes in technology. These changes in technology introduce new risks and hazards. The management of risk/hazard in a manufacturing process recommends method through which the success rate of an organization can be increased. Thus, there is a continual need for manufacturing industries to invest significant amount of resources in risk management, which in turn optimizes the production output and profitability of any manufacturing industry (if implemented properly). To help improve the existing risk prevention and mitigation practices in Small and Medium Enterprise (SME) in Nigeria Manufacturing Industries (NMI), the researcher embarks on this research to develop a systematic Risk Management process.

Keywords: Manufacturing industries, production output, risk, risk management, SMEs.

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