Tool For Cost Reduction Research Articles

Neural networks as a tool for domain translation of geophysical data

Many geophysical tasks are hindered in practice by the high costs of generating and processing data. We have developed a potential solution, mitigating the cost of certain data acquisition and generation processes by using data-domain-translation deep neural networks. Generative adversarial networks have demonstrated success in data translation in a wide variety of applications. By providing training data from domain A and domain B, networks can be trained to estimate the distributions of both domains, and hence establish a mapping from one to the other. We apply such data-translation neural networks to 3D geophysical field data examples and determine that they can be used as cost-reduction tools, providing an efficient mapping between different data types of interest in expensive data-processing workflows. Our approach is especially relevant for the translation between acoustic and elastic data sets during full-waveform inversion, which mitigates the elastic effect in the acoustic inversion.

HRM challenges in Slovakia generated by the Covid-19 pandemic

PurposeThe article analyzes the challenges Slovak businesses and organizations are facing in relation to the Covid-19 pandemic and the resulting human resource management solutions they apply.Design/methodology/approachThe authors present a part of their research conducted in six Central Eastern European (CEE) countries. Based on timely data, the article presents socioeconomic characteristics of Slovakia and the results of the research “HRM Challenges in Times of the Covid-19 Crisis” conducted among employers in Slovakia. The survey method encompassed 247 Slovakian organizations.FindingsThe year 2020 was an extraordinary one for businesses, governments, and individuals alike. According to the results of this research, Slovak organizations were not prepared for the Covid-19 crisis. Respondents who had a pandemic action plan at the time of the breakout were hardly found. Measures taken to preserve human health directly impacted the way how work is done and organized. This poses significant challenges for both employers and employees. In general, small organizations used cost and staff reduction tools. On the other hand, some of the respondents, mainly large organizations have been using future-oriented solutions, e.g. organizational development.Originality/valueIn this research the authors analyzed the experiences of a Central European country, namely Slovakia. However, the experiences gained and collected here can be useful in the international arena as well.

GESTÃO DE CONTRATOS E SUA APLICAÇÃO COMO INSTRUMENTO DE REDUÇÃO DE CUSTO: PLANEJAMENTO E FISCALIZAÇÃO DOS RECURSOS PÚBLICOS

The Public Administration constantly seeks to improve the quality of services in the expectation of fulfilling the first of its missions, which is to meet the real needs of the community. Meeting the public interest does not materialize only with the planning, bidding and contracting stages. The act of supervising can be understood as an instrument that lends itself to guaranteeing the best execution of the contract and fidelity to its object, in addition to ensuring that what is established by the principle of efficiency in Public Administration is fulfilled. This study aims to investigate the situation of inspection and planning of administrative contracts, as well as its application as a cost reduction tool in Public Administration. The theoretical perspective is based on the concepts of the Brazilian public procurement process and its stages, administrative contracts and their characteristics, and contract management and inspection. Thus, this research is characterized as descriptive, with a qualitative approach, based on bibliographic and documentary support. It is possible to conclude that the consequences of the evaluations on the doctrinal teachings presented in this study found that the purpose of administrative contracts is the integral service and the fulfillment of the needs of the entire community.

Integrated clinicopathologic and molecular analysis of endometrial carcinoma: Prognostic impact of the new ESGO-ESTRO-ESP endometrial cancer risk classification and proposal of histopathologic algorithm for its implementation in clinical practice.

The European Society of Gynecologic Oncology/European Society of Radiation Therapy and Oncology/European Society of Pathology (ESGO/ESTRO/ESP) committee recently proposed a new risk stratification system for endometrial carcinoma (EC) patients that incorporates clinicopathologic and molecular features. The aim of the study is to compare the new ESGO/ESTRO/ESP risk classification system with the previous 2016 recommendations, evaluating the impact of molecular classification and defining a new algorithm for selecting cases for molecular analysis to assign the appropriate risk class. The cohort included 211 consecutive EC patients. Immunohistochemistry and next-generation sequencing were used to assign molecular subgroups of EC: POLE mutant (POLE), mismatch repair deficient (MMRd), p53 mutant (p53abn), and no specific molecular profile (NSMP). Immuno-molecular analysis was successful in all cases, identifying the four molecular subgroups: 7.6% POLE, 32.2% MMRd, 20.9% p53abn, and 39.3% NSMP. The recent 2020 guidelines showed a 32.7% risk group change compared with the previous 2016 classification system: the reassignment is due to POLE mutations, abnormal p53 expression, and a better definition of lymphovascular space invasion. The 2020 system assigns more patients to lower-risk groups (42.2%) than the 2016 recommendation (25.6%). Considering the 2020 risk classification system that includes the difference between "unknown molecular classification" and "known," the integration of molecular subgroups allowed 6.6% of patients to be recategorized into a different risk class. In addition, the use of the proposed algorithm based on histopathologic parameters would have resulted in a 62.6% reduction in molecular analysis, compared to applying molecular classification to all patients. Application of the new 2020 risk classification integrating clinicopathologic and molecular parameters provided more accurate identification of low-and high-risk patients, potentially allowing a more specific selection of patients for post-operative adjuvant therapy. The proposed histopathologic algorithm significantly decreases the number of tests needed and could be a promising tool for cost reduction without compromising prognostic stratification.

High‐Throughput Experimentation as an Accessible Technology for Academic Organic Chemists in Europe and Beyond**

AbstractFor years now, High‐Throughput Experimentation (HTE) have been applied to organic chemistry for reaction optimization and reaction discovery as a powerful tool for time and cost reduction. If this technology has been first developed by and for industry, and used as a routine method today, some academic researchers, including in Europe, are still challenging the accessibility of HTE as a general and daily used technology. One of the reasons is probably the expensive cost of such facilities development, which generally involves automation with robots, dedicated research teams, and expensive analytical instrumentation. This paper aims at bringing to light the accessibility of batch HTE with a minimum of instrumentation and cost, in order to help organic chemists to accelerate the discovery and optimization of new synthetic methodology, leading them to reduce their costs and empower their innovative research.

3PL Relationship Management Practices as a Cost Reduction Tool in the Supply Chain: A Case of Stellar Logistics

Purpose: The purpose of the study was to examine the nature of the 3PL relationship as a tool for cost reduction at Stellar Logistics Limited. It also examined the challenges affecting the effectiveness of the 3PL relationship.
 Methodology: A quantitative research approach was utilised to measure and analyse the data descriptively. Structured questionnaires and interviews were conducted to elicit data from the supply chain exerts at Stellar Logistics Company Limited. Data analysis was done based on 30 cases and at the firm level in terms of a unit of analysis. 3PL relationship management is the key tool that links all members of the supply chain at Stellar Logistics.
 Findings: The study proves management members of Stellar Logistics are aware effective 3PL relationship management leads to mutual trust and confidence in the company and are also aware that commitment is a key factor in creating a stable third-party relationship. Selection and evaluation are crucial in achieving valuable partnerships in the 3PL relationship process as it has the highest response rate in the company. The relationship system at Stellar Logistics requires creating a win/win for 3PL contracting parties. Improper record management makes it difficult to keep track of all shipments at the company. There is a lack of collaboration between the shippers, carriers, and the end customers of the company which affects 3PL relationship management at the company. Finally, unforeseen delays affect the delivery of goods to customers at the company.
 Recommendations: Stellar Company can help resolve its 3PL relationship problems by setting clear expectations. Again, Stellar Logistics must establish single points of contact. The study also recommend that the company must measure performance in order to salvage its 3PL relationship challenges. Stellar logistics must also involve their 3PL provider in long-term planning.

Establishment and implementation of an improvement plan using Lean Six Sigma methodology to minimize variation in ordering laboratory tests

Background/aim Ordering laboratory (laboratory) tests by physicians is a part of the pre-preanalytical laboratory phase, which is a high error-prone process. Many of the laboratory tests ordered are unnecessary, where excess ordering represents as much as 25–40% of all ordered tests. The present study aimed at establishing and implementing a quality improvement project to avoid misutilization of laboratory tests using the Lean Six Sigma (LSS) methodology that could help to minimize variation in the laboratory requests ordered by clinicians. Materials and methods LSS approach methodology with its five phases, namely, define, measure, analyze, improve, and control (DMAIC), was applied to define and solve the problem of ordering of inappropriate laboratory tests. Sigma levels of the ordering process of selected laboratory tests were measured before and after implementation of the selected solutions. The stability and capability of the ordering process were retested after implementing the project. Results The sigma level of alanine aminotransferase/aspartate aminotransferase tests ordering process has been improved to 1.2 sigma, which represented 45% improvement. The sigma level of urea and creatinine ordering has been improved to 2.16 sigma, which represented 43.1% improvement, saving about 14 520 LE per year. Conclusion Successful implementation of LSS significantly improved laboratory test ordering. Simple modification in the laboratory request form could be an important source of improvement and a cost reduction tool in the pre-preanalytical laboratory phase. LSS is an evidence-based powerful tool that could improve the health care sector in general and the clinical laboratories in particular.

Career or environmental crusade? – Irfan’s dilemma

Subject area Integrated Case Study, Advanced Management Accounting, Environmental Management Accounting (EMA), Human Resource Management. Study level/applicability This case is designed for undergraduate students in accounting, business or human resource management programmes. Case overview The case is about Irfan, a former Production Manager in Omicron, a small and medium-sized enterprise in Selangor, Malaysia, manufacturing automotive metal parts. Irfan is truly enthusiastic for environmental and cost-reduction tools and wishes to pursue it further to his best possible. The case presents Irfan facing the dilemma of how to align his passion for these tools to his future career choice. He is faced with three options – to remain in Omicron, to accept a job offer in another company or to establish his own consultancy firm. The case highlights the heavy involvement of Irfan in the implementation of a new environmental tool, Material Flow Cost Accounting (MFCA) in Omicron, and all the tasks, activities, benefits and challenges encountered. Being at the ground with the implementation and outputs achieved, Irfan is excited about MFCA and wants to continue with it, due to the rich and valuable experience gained from its implementation and its potential for future savings. However, he does not seem to observe a similar excitement among the higher management. The case details an example of the implementation of MFCA for one of Omicron’s products and other relevant information that could serve as a guidance to any future implementation either in Omicron, the new company or even his own company. The case also provides details about Omicron and how Irfan regard Omicron as his second family to hint a strong pulling factor for Irfan to remain in Omicron, hence providing the extra weight on the dilemma he faces. Expected learning outcomes In the process of assessing a career choice dilemma for a middle-level manager, students are expected to analyse the three career options available to this middle manager, whose dilemma also relates to his passion of pursuing environment-related and cost-reduction tools. Where the environment is concerned, some parties need extra persuasion to pursue it and this also triggers the middle-manager’s dilemma. This case is intended to provide a tool to enable students to review and discuss matters, such as overcoming obstacles of pursuing environmental-related initiatives and progressing a mid-life career that provides self-fulfilment financially, emotionally and mentally. Among the theories and concepts referred include diffusion of innovations theory, EMA concepts and Hofstede’s cultural dimensions. Supplementary materials Teaching Notes are available for educators only. Subject code CSS 1: Accounting and Finance.

Competitive Situations and Significance of Management Accounting System in Business Firms of Nepal

The purpose of this study is to examine the significant factors of the management accounting system (MAS) in Nepalese business firms and to examine whether these factors differ in three competitive situations, such as the low, moderate, and high level of competition. It presents the results based on a survey of business firms including sole trading, partnership, and private limited manufacturing firms of industrial estates of Nepal. The structured questionnaires were distributed to the financial managers, production managers, and operations managers of the sampled firms. For the purposes of the study, 83.33 percent of the questionnaire was collected and used. This study shows that the management accounting system has been used by most businesses as a compilation of information to determine from the perspective of its significance, and the management accounting system used is very effective and has led to the success of business firms. Mainly, this study has explored three major significant factors of MAS such as decision-making and performance analysis, proper allocation of resources and cost reduction, and planning and budgeting tool. The findings of this research provide a useful guideline to business firms, especially their managers, to make decisions in light of the current changing management accounting system and competitive situations. Keywords: Business firms, Competitive situation, Factors, Management accounting system, Significance DOI: 10.7176/RJFA/11-24-01 Publication date: December 31 st 2020

APPLICATION OF BAYESIAN TECHNIQUE FOR PARAMETER ESTIMATION IN A FERMENTATIVE PROCESS

In the current world scenario, there has been noted an increase of researches on biofuel production, more specifically bioethanol, produced from biomass, in order to obtain more information to analyze, understand and optimize this fermentative process. The modelling process, which include the determination of a kinetic model and its respective parameters, is a fundamental step in defining operating strategies and understand how the experimental conditions can affect the optimal system operating conditions. The present work employs a bayesian technique to estimate the parameters of a classical kinectic model used by Silva and collaborators (2016), because, unlike the classical techniques, it is possible to take into account the uncertainty of the measurements and the prior knowledge of the parameters can be accounted for in probabilistic terms. In this context, by using simulated measurements, for the parameters estimation it is propose a sensitivity analysis of the parameters model to define the most relevant ones to be estimate and the use of the Monte Carlo Markov Chain method through the Metropolis-Hastings algorithm, evaluating the influence of four types of priori probability distribution of data set: uniform, gaussian, log-normal and Rayleigh. The obtained results showed that the sensibility analysis is an important step on parameter estimation and algorithm used was satisfactory in estimating the parameters of the kinectic model used, demonstrating the possibility of using it as a tool for time and cost reduction in experimental tests.

Moral hazard and selection for voluntary deductibles.

This paper investigates whether the voluntary deductible in the Dutch health insurance system reduces moral hazard or acts only as a cost reduction tool for low‐risk individuals. We use a sample of 14,089 observations, comprising 2,939 individuals over seven waves from the Longitudinal Internet Studies for the Social sciences panel for the analysis. We employ bivariate models that jointly model the choice of a deductible and health care utilization and supplement the identification with an instrumental variable strategy. The results show that the voluntary deductible reduces moral hazard, especially in the decision to visit a doctor (extensive margin) compared with the number of visits (intensive margin). In addition, a robustness test shows that selection on moral hazard is not present in this context.

Subsea processing as a tool for cost reduction of deepwater projects

In order that the production and profits of petroleum companies do not decline, new oil field need to be discovered and exploited. Many of these new discoveries are offshore deepwater fields. However, the drop in oil prices in the last few years has made this type of exploration, which is already challenging in itself, even more difficult, so that companies are postponing or even canceling several deepwater projects. Innovation, new technologies and new concepts of oil and gas production and processing are necessary to make deepwater projects feasible and increase their competitiveness. The aim of this paper was to analyze the subsea processing of oil production as a strategy to reduce both capital and operating costs to enable remote offshore exploration. In addition, a discussion of the benefits and challenges of this strategy was also presented. It also includes a case study at the Lula field, in Brazilian pre-salt. Results demonstrate that the use of subsea separation has great potential to reduce OPEX and CAPEX on offshore projects. The current case study demonstrates a cost reduction due to the investment in the separators of around US$ 6.1 billion, a reduction about 6 to 12 times in the power needed to lift the production and a reduction of about 5 to 7 times in the expenditures with natural gas as fuel for the evaluated scenarios.

76‐5: Late‐News Paper: Enhanced Productivity Performance through Detecting Defects on Surface of AMOLED Display

At this time, the system with advanced automatic detection capability has consistent execution results and has been verified that it can be used as a necessary tool for cost reduction and the quality control of the product, which is the value of the customer. It will contribute to reducing human error and minimizing defects by designing a system that relies on more mechanization automation, taking into account the characteristics of the machine as well as the role of humans and machines.

Reduction of Crude Oil Production Cost in Nigerian Indigenous Company using Activity Based Costing

The aim of this study is to investigate the impact of activity based costing in reducing crude oil production cost in Nigerian indigenous oil and gas company. This research work identified strategies to effectively reduce the cost of crude oil production by adopting a cost reduction tool for crude oil production and to establish a good crude oil flow to the surface for production. Activity based costing was the cost reduction tool used for this work. The tool helps to differentiate between value added costing and non-value added costing. Non-value added costs must be reduced or eliminated during production so as to maximise profit. Data was collected from an indigenous oil service company. The collated data were tabulated and graphs were plotted with the aid of Microsoft excel. The analysis revealed a total sum of ? 416,978,977 was wrongly spent for a duration of three years on crude oil production due to non-value added costing. The activities are: poor transportation of crude oil, that is, use of mobile tanker for haulage instead of laying 4 inches coated pipes for a distance of 5km and contracting the treatment of produced water to a contractor instead of setting up a water treatment plant. Also, using a diesel engine generator for electric power supply while gas was available as a fuel gas for natural gas consuming generator was a non-value added activity. Lastly, inadequate oil well flowing practice by flowing the well through an adjustable choke for a long period of time instead of using a fixed choke. This is a huge loss for indigenous oil producing fields operated by an indigenous oil service company in Nigeria. The loss was due to inability of the producers/field location owners to set up few equipment to meet up with complete operation standard.

Reduction of Crude Oil Production Cost in Nigerian Indigenous Company using Activity Based Costing

The aim of this study is to investigate the impact of activity based costing in reducing crude oil production cost in Nigerian indigenous oil and gas company. This research work identified strategies to effectively reduce the cost of crude oil production by adopting a cost reduction tool for crude oil production and to establish a good crude oil flow to the surface for production. Activity based costing was the cost reduction tool used for this work. The tool helps to differentiate between value added costing and non-value added costing. Non-value added costs must be reduced or eliminated during production so as to maximise profit. Data was collected from an indigenous oil service company. The collated data were tabulated and graphs were plotted with the aid of Microsoft excel. The analysis revealed a total sum of ₦ 416,978,977 was wrongly spent for a duration of three years on crude oil production due to non-value added costing. The activities are: poor transportation of crude oil, that is, use of mobile tanker for haulage instead of laying 4 inches coated pipes for a distance of 5km and contracting the treatment of produced water to a contractor instead of setting up a water treatment plant. Also, using a diesel engine generator for electric power supply while gas was available as a fuel gas for natural gas consuming generator was a non-value added activity. Lastly, inadequate oil well flowing practice by flowing the well through an adjustable choke for a long period of time instead of using a fixed choke. This is a huge loss for indigenous oil producing fields operated by an indigenous oil service company in Nigeria. The loss was due to inability of the producers/field location owners to set up few equipment to meet up with complete operation standard.

Dynamic simulation of machining composites using the explicit element-free Galerkin method

Machining operations are performed on composite parts to obtain the final geometry. However, machining composites is challenging due to their low machinability and high cost. Numerical modelling of machining presents a valuable tool for cost reduction and a better understanding of the cutting process. Meshfree methods are an attractive choice to model machining problems due to their capability in modelling large deformations. This work presents an explicit meshfree model for orthogonal cutting of unidirectional composites based on the element-free Galerkin (EFG) Method. Advantages of the proposed model include: simple and automated preprocessing, advanced material modelling and ability to model high-speed machining. Workpiece material is modelled as orthotropic Kirchhoff material with a choice of three failure criteria: maximum stress, Hashin and LaRC02. Frictional contact calculations are performed based on central differencing, therefore avoiding the use of penalty parameters. Validation of the EFG model is conducted by comparing cutting forces against orthogonal cutting experiments on GFRP samples using a vertical milling machine. It is found that while the numerical cutting forces are in good agreement with experimental ones, the numerical thrust forces are significantly under-estimated. Analysis of failure showed that chip is formed along the fibre direction in the studied range.

Application of Cost Reduction Tools in Manufacturing Organizations at Pokhara

Today’s business organization’s success highly depends upon the satisfaction of customer needs and wants since it become the age of globalization. All the manufacturing organizations of Pokhara valley are needed to mass customize their product as the requirement of the customer and satisfy to their needs and wants. For this purpose, organizations have to use the modern technology. This study aims to evaluate the application of cost reduction tools in Nepalese manufacturing organizations with reference to Pokhara valley. Out of total manufacturing firm, only 10 organizations have been selected at least two samples from each stratum out of the target population. Primary data have been collected through the structured questionnaires by distributing it to the production manager or finance manager of the concerned organization. The information has been collected through unit visits. An empirical investigation has been conducted in order to find out various aspects of cost reduction tools. The major tool used for this purpose is the questionnaire. Nepalese manufacturing organizations are selecting the purchase of raw material, production planning and control as the area of reducing their cost. All of the organizations are conscious about TQM as the technique of cost reduction. Most of the organizations are applying product line rationalization, supply chain management, KAIZEN system, reengineering as the technique of cost reduction. Most of the organizations are not applying the Design for manufacturability and concurrent engineering, on demand lean production, build to order, part standardization, Just in Time production system as the tools of cost reduction. Janapriya Journal of Interdisciplinary Studies, Vol. 6 (December 2017), page: 45-59

The Possibility of Using Knowledge from Unconventional Financing of Suburban Bus Transport as an Innovative Tool for Cost Reduction in Logistics

The paper deals with the possibility of using knowledge from unconventional financing of bus transport as an innovative tool for cost reduction in logistics. The first part provides an overview of financing road transport including public passenger transport in Slovak republic (with dividing on railway transport, bus transport and urban public transport). Other part of paper describes option of using CNG fuel in suburban bus transport in particular company (SAD Zilina). Also this part contains economic comparison between diesel and CNG buses.

Integrating value stream mapping and discrete events simulation as decision making tools in operation management

Focusing on competitiveness, many companies seek methodologies in order to increase the productive performance. Process optimization focused on quality, productivity improvement, and cost reduction tools has excelled in industrial environments based on the results achieved by many companies. However, the lack of a production simulation system to evaluate advanced scenarios does not effectively address numerous solutions. As a result, this paper aimed to apply the value stream mapping (VSM) and discrete events simulation as decision-making tools to direct the management invest in the best option among the available scenarios generated by simulation system. The analysis was realized in a manufacturing cell part of a Brazil’s metal industry that needs to increase the production capacity in a context of high fluctuation of demand. The results showed the efficiency of VSM and simulation integration as decision making tools. It was possible to display a table with all data sets for both current and future scenarios. From process data, it was possible to calculate the production, unit cost for each piece produced, investment cost, productivity (total of operators), and layout.

Considerations and conceptualisation of solar business model in India: lessons on technology transfer learnt from Germany

The paper analyses the scale and opportunity of solar power in India and how technology transfer (TT) of new solar technologies can help for the expansion to achieve the goals set by the Government of India. The paper reviews the efforts in TT and its outcomes within as well as outside Germany, where it is seen as a cost reduction tool. It is found that the projects have realised almost 46% cost reduction due to TT. Subsequently, it studied that business model developed as a result of institutional efforts for technology development through TT. Based on such experiences from leading country and its role in business model evolution, it conceptualises business model as a model for business design for product/service flows establishing the value proposition, supply chain, ownership and sustained revenue streams to harness domestic policies and to augment the bandwidth of executing solar technologies in India.