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Better business decisions using cost modeling
Information is power in supply chain operations, negotiations, continuous improvement programs, process improvement, and indeed in all aspects of managing an operation. Accurate and timely information can result in better decisions that translate into the improvement of bottomline results. The development and effective use of cost modeling as a method to understand the cost of products, services, and processes can help drive improvements in the quality and timeliness of decision making. In the supply chain community, an understanding of the actual cost structures of processes, products and services, whether with new or nonpartner suppliers, can facilitate fact-based discussions that are more likely to result in agreements that are competitively priced and with fair margins. Further, accurate cost models that are cooperatively developed between supply chain partners can form the basis for joint efforts to reduce non-value-added costs and provide additional focus toward operational improvement.
eBook
A model for calculating interconnection costs in telecommunications
The liberalization of the telecommunications markets in Sub-Saharan Africa led to increased competition on the provision and pricing of communication services. But, due to the lack of appropriate regulatory tools, newly established regulators are poorly equipped to arbitrate increasing interconnection disputes between competing operators. This guidebook and its associated CD-ROM, including the cost model, were prepared to provide Sub-Saharan Africa regulators and operators with a sound regulatory tool allowing the determination of accurate interconnection costs, thus facilitating the settlement of lengthy and costly interconnection disputes between fixed and mobile operators. The cost model belongs to the family of “Bottom-Up” models, which calculate interconnection cost incurred by an efficient operator using the Long Run Incremental Cost (LRIC) methodology. The proposed cost model takes into account most features characterizing the development stage of telecommunications networks in Sub-Saharan Africa (small size of fixed network, importance of rural telephony, excessive reliance on microwave technology, explosive demand for mobile service, and weak regulatory capacity). A Model for Calculating Interconnection Costs in Telecommunications offers telecom regulators and operators not only a decision support tool but also a stimulant to enhance an understanding of the logic of regulating a sector open to competition.
eBook
Optimal resource allocation
A UNIQUE ENGINEERING AND STATISTICAL APPROACH TO OPTIMAL RESOURCE ALLOCATION Optimal Resource Allocation: With Practical Statistical Applications and Theory features the application of probabilistic and statistical methods used in reliability engineering during the different phases of life cycles of technical systems. Bridging the gap between reliability engineering and applied mathematics, the book outlines different approaches to optimal resource allocation and various applications of models and algorithms for solving real-world problems. In addition, the fundamental background on optimization theory and various illustrative numerical examples are provided. The book also features: An overview of various approaches to optimal resource allocation, from classical Lagrange methods to modern algorithms based on ideas of evolution in biology Numerous exercises and case studies from a variety of areas, including communications, transportation, energy transmission, and counterterrorism protection The applied methods of optimization with various methods of optimal redundancy problem solutions as well as the numerical examples and statistical methods needed to solve the problems Practical thoughts, opinions, and judgments on real-world applications of reliability theory and solves practical problems using mathematical models and algorithms Optimal Resource Allocation is a must-have guide for electrical, mechanical, and reliability engineers dealing with engineering design and optimal reliability problems. In addition, the book is excellent for graduate and PhD-level courses in reliability theory and optimization.
eBook
Better Business Decisions Using Cost Modeling, Second Edition
\"In this second edition, Vic and Chris have done an excellent job of citing the importance of accurate problem identi cation and the need for validated data input for the decision making process-a must read book for those managers responsible for making operational decisions.\" - Richard Bozeman, Jr., Author and Inventor, Retired Chief of the Propulsion and Power Division Test Facilities, NASA \"I TRULY enjoyed the book and found it very informative. I am not an easy sell when it comes to the quantitative approach however I WAS SOLD! I will never approach future negotiations and future data analysis the same after reading this book. GOOD JOB!\"-Peter Birkholz, Managing Partner of the Sam Houston Group LP, Management Consultant-Birkholz Management Co., LLC -- Information is power in supply chain operations, negotiations, continuous improvement programs, process improvement, and indeed in all aspects of managing an operation. Accurate and timely information can result in better decisions that translate into the improvement of bottom-line results. This book provides the business professional a concise guide to the creation and effective use of both internal and external cost models. Development of internal cost models is discussed with illustrations showing how they can be deployed to assist in new product development, pricing decisions, make-or-buy decisions, and the identi cation of opportunities for internal process improvement projects.
eBook
Environmental biological model based on optimization of activated sludge process
A simplified environmental biological model has been developed based on
biodegradation kinetics correlation to regulate and optimize wastewater
treatment system of activated sludge process. All parameters included
in the model are calibrated in accordance with reference data and
experimental results and good agreements are achieved between
calculated results and reference data or experimental results. The
minimum bioreactor volume is used as objective function in the model
and errors between optimal minimum volume of the model and each
reported result of three references are found to be no more than 8.63 %
after validation. Comparisons between optimal results and experimental
data demonstrate that the deviations are negligible. The optimal
minimum volume is 9.21 m3 with the error of 6.40 % to the practical
bioreactor volume of a pilot treatment system. The environmental
biological model has been applied to economically evaluate a former
treatment system with native bacterium YZ1 and four operation periods
of the pilot system with functional strain Fhhh compared with YZ1, Fhhh
possesses higher biodegradation ability in purified terephthalic acid
wastewater and a broader economic potential in the field of wastewater
treatment.
Journal Article
Better Business Decisions Using Cost Modeling, Second Edition
\"In this second edition, Vic and Chris have done an excellent job of citing the importance of accurate problem identi cation and the need for validated data input for the decision making process-a must read book for those managers responsible for making operational decisions.\" - Richard Bozeman, Jr., Author and Inventor, Retired Chief of the Propulsion and Power Division Test Facilities, NASA \"I TRULY enjoyed the book and found it very informative. I am not an easy sell when it comes to the quantitative approach however I WAS SOLD! I will never approach future negotiations and future data an
Publication
Monopsony in Motion
What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to the standard model of perfect competition.Monopsony in Motionstands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption.
The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the \"free\" market can no longer be sustained as an ideal and labor economists need to be more open-minded in their evaluation of labor market policies.Monopsony in Motionwill represent for some a new fundamental text in the advanced study of labor economics, and for others, an invaluable alternative perspective that henceforth must be taken into account in any serious consideration of the subject.
eBook
A method of generating an optimal batch monitoring plan by random sequential sampling
A method is given for generating the best plan for inspecting a batch of components on the criterion for minimum mean producer's risk.[PUBLICATION ABSTRACT]
Journal Article