VIKOR power law-based customer-oriented FMEA with complete unique risk priority numbers

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Randula L. Hettiarachchi ◽  
Pisut Koomsap ◽  
Panarpa Ardneam
Keyword(s):  
Case Studies ◽  
Power Law ◽  
Design Methodology ◽  
Service Sector ◽  
Failure Modes ◽  
Risk Priority Number ◽  
Effect Analysis ◽  
Content Type ◽  
Industrial Sectors ◽  
Inherent Problem

PurposeAn inherent problem on risk priority number (RPN) value duplication of traditional failure modes and effect analysis (FMEA) also exists in two customer-oriented FMEAs. One has no unique value, and another has 1% unique values out of 4,000 possible values. The RPN value duplication has motivated the development of a new customer-oriented FMEA presented in this paper to achieve practically all 4,000 unique values and delivering reliable prioritization.Design/methodology/approachThe drastic improvement is the result of power-law and VlseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR). By having all three risk factors in a power-law form, all unique values can be obtained, and by applying VIKOR to these power-law terms, the prioritization is more practical and reliable.FindingsThe proposed VIKOR power law-based customer-oriented FMEA can achieve practically all 4,000 unique values and is tested with two case studies. The results are more logical than the results from the other two customer-oriented FMEAs.Research limitations/implicationsThe evaluation has been done on two case studies for the service sector. Therefore, additional case studies in other industrial sectors will be required to confirm the effectiveness of this new customer-oriented RPN calculation.Originality/valueAchieving all 1,000 unique values could only be done by having experts tabulate all possible combinations for the traditional FMEA. Therefore, achieving all 4,000 unique values will be much more challenging. A customer-oriented FMEA has been developed to achieve practically all 4,000 unique risk priority numbers, and that the prioritization is more practical and reliable. Furthermore, it has a connection to the traditional FMEA, which helps explain the traditional one from a broader perspective.

Staying ahead of the competition

2018 ◽  
Vol 34 (12) ◽  
pp. 9-11
Keyword(s):  
Competitive Advantage ◽  
Case Studies ◽  
Design Methodology ◽  
Service Sector ◽  
Reading Time ◽  
Cutting Edge ◽  
Content Type ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Finding competitive advantage in the service sector can be a challenge for firms. This briefing looks at ways for such firms to get ahead and aim to disrupt the marketplace. Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Fuzzy risk assessment for electro-optical target tracker

2016 ◽  
Vol 33 (6) ◽  
pp. 830-851 ◽  
Author(s):  
Soumen Kumar Roy ◽  
A K Sarkar ◽  
Biswajit Mahanty
Keyword(s):  
Failure Mode ◽  
Failure Modes ◽  
Linear Equations ◽  
Mode Analysis ◽  
Failure Behavior ◽  
Membership Functions ◽  
Design And Development ◽  
Effect Analysis ◽  
Content Type ◽  
Criticality Analysis

Purpose – The purpose of this paper is to evolve a guideline for scientists and development engineers to the failure behavior of electro-optical target tracker system (EOTTS) using fuzzy methodology leading to success of short-range homing guided missile (SRHGM) in which this critical subsystems is exploited. Design/methodology/approach – Technology index (TI) and fuzzy failure mode effect analysis (FMEA) are used to build an integrated framework to facilitate the system technology assessment and failure modes. Failure mode analysis is carried out for the system using data gathered from technical experts involved in design and realization of the EOTTS. In order to circumvent the limitations of the traditional failure mode effects and criticality analysis (FMECA), fuzzy FMCEA is adopted for the prioritization of the risks. FMEA parameters – severity, occurrence and detection are fuzzifed with suitable membership functions. These membership functions are used to define failure modes. Open source linear programming solver is used to solve linear equations. Findings – It is found that EOTTS has the highest TI among the major technologies used in the SRHGM. Fuzzy risk priority numbers (FRPN) for all important failure modes of the EOTTS are calculated and the failure modes are ranked to arrive at important monitoring points during design and development of the weapon system. Originality/value – This paper integrates the use of TI, fuzzy logic and experts’ database with FMEA toward assisting the scientists and engineers while conducting failure mode and effect analysis to prioritize failures toward taking corrective measure during the design and development of EOTTS.

Negotiation and corporate strategy

2019 ◽  
Vol 35 (2) ◽  
pp. 4-6
Keyword(s):  
Competitive Advantage ◽  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
Corporate Strategy ◽  
Organizational Strategy ◽  
Content Type ◽  
Pertinent Information ◽  
Practical Implications ◽  
Consistent Approach

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Negotiation is a key tool in delivering competitive advantage but requires a clear and consistent approach closely linked to organizational strategy. Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Blending global and regional planning in multinationals

2019 ◽  
Vol 35 (3) ◽  
pp. 16-18
Keyword(s):  
Case Studies ◽  
Regional Planning ◽  
Design Methodology ◽  
Reading Time ◽  
Cutting Edge ◽  
Central Planning ◽  
Content Type ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Blending global and regional planning is important for multinationals. Within a central framework, local offices should have input. Different regions will approach this in different ways, but regional planning needs to be in-synch with central planning cycles. Originality/value The briefing saves busy executives, strategists, and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Creating a growth mindset

2017 ◽  
Vol 16 (4) ◽  
pp. 155-160
Author(s):  
Ian Johnston
Keyword(s):  
Case Studies ◽  
Design Methodology ◽  
Growth Mindset ◽  
Cultural Space ◽  
Content Type ◽  
Fixed Mindset ◽  
And Performance

Purpose This paper aims to show that everything a business does is fundamentally reliant on its culture. Culture determines how successful a strategy is and whether that strategy can be executed. If the culture in a business is out of alignment, it is imperative to change it. This paper examines how HR professionals can take ownership of this cultural space and help to create a growth mindset throughout the organisation. Design/methodology/approach The paper is based on experience gained through working with several large organisations to transform their people culture and performance by embracing a growth mindset and to help their HR leadership become the early champions of change, thus ensuring the process was successfully delivered. The paper includes case studies of two organisations where successful cultural shaping delivered improved results. Findings Companies with a growth mindset will outperform those with a fixed mindset. Changing mindsets is not overly complex, but it requires flawless implementation with the HR leaders at the forefront. Originality/value As Lou Gerstner, who turned around the computing giant IBM, said “I finally realised that culture is not part of the game, it is the game”. By understanding how individual mindsets impact culture, HR professionals can own and drive their organisation’s culture-shaping efforts.

Public convenience, private company

2015 ◽  
Vol 31 (11) ◽  
pp. 8-10
Keyword(s):  
Case Studies ◽  
Market Share ◽  
Design Methodology ◽  
Reading Time ◽  
Cutting Edge ◽  
Private Company ◽  
Content Type ◽  
Pertinent Information ◽  
Established Firms ◽  
Practical Implications

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – The innovator’s dilemma is a relatively new story, although it seems to have been around in decades. The dilemma relates to established firms who cannot decide whether to “stick or twist” in their strategy. If they stay with their current offering, they will gradually lose market share or could quickly be overturned by a fast-paced competitor; if they invest in change, they will lose their profitable existence with no guarantee of success. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

The Google Knowledge Graph

2014 ◽  
Vol 30 (4) ◽  
pp. 15-17 ◽  
Keyword(s):  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
Social Impact ◽  
Knowledge Graph ◽  
Content Type ◽  
Principal Source ◽  
Pertinent Information ◽  
Practical Implications ◽  
The Web

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – Becoming increasingly reliant on the web as a principal source of finding information is altering our brains and the way that we obtain and hold knowledge. We are becoming less reliant on our memories to hold knowledge, instead using technology – and search engines like Google in particular – to deposit and retrieve information. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations. Social implications – The paper provides strategic insights and practical thinking that can have a broader social impact. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Bulk and block holders herding behaviour

2018 ◽  
Vol 7 (2) ◽  
pp. 150-171
Author(s):  
Ganesh R. ◽  
Naresh Gopal ◽  
Thiyagarajan S.
Keyword(s):  
Economic Performance ◽  
Institutional Investors ◽  
Design Methodology ◽  
Indian Market ◽  
Foreign Investors ◽  
Content Type ◽  
Industrial Sectors ◽  
Block Data ◽  
Block Holders

Purpose The purpose of this paper is to examine industry herding among the institutional investors and to find whether their herding behaviour is intentional or unintentional. Design/methodology/approach The study uses Lakonishok et al. (1992) model to examine the presence of industry herding behaviour among institutional investors. To determine whether the herding observed is intentional or unintentional, herding measure is regressed with volatility, volume, beta and return. The period of the study is from 1 April 2005-31 March 2015. Findings The findings of the study showed that though institutional investors have herding tendency towards most of the industries, in the overall period industry herding was not significant. The herding found in some industrial sectors was linked to economic performance of those sectors in India during the period of study and hence the herding was unintentional in nature. Research limitations/implications This is the first attempt to study industry herding among institutional investors and their intent in Indian market ever since the country opened its market to foreign investors in a big way. Present study is limited to the use of only bulk/block data instead of the entire trading data for the period. Originality/value This study is the first attempt to investigate industry herding behaviour of institutional investors in the market using their bulk and block trading data. The herding observed in well performing industries has been shown to be unintentional and hence rational. The results indicate that the entry of big institutional investors, including foreign institutions into the Indian market has not destabilised the market by irrational herding.

Shared learning in restaurant kitchens

2016 ◽  
Vol 30 (1) ◽  
pp. 32-34
Keyword(s):  
Case Studies ◽  
Driving Force ◽  
Design Methodology ◽  
Reading Time ◽  
Cutting Edge ◽  
Content Type ◽  
Shared Learning ◽  
Cooking Shows ◽  
Pertinent Information ◽  
Practical Implications

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – Cooking is big business right now. Television cooking shows are highly popular and this in turn is generating interest in cooking as a pastime. As a result, many professional chefs are becoming celebrities, endorsing products and publishing books. Less obvious is their role as the leader of a team and the driving force behind the development of apprentice chefs. They set the pace and direction of learning in the kitchen and have an important role as a coach and facilitator. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Agile ascension

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Keyword(s):  
Competitive Advantage ◽  
Case Studies ◽  
Learning Strategies ◽  
Design Methodology ◽  
Reading Time ◽  
Core Competencies ◽  
Content Type ◽  
Agile Learning ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Agile learning strategies and agile core competencies are crucial to the success of organizations in the digital economy. These principles can be adopted by others to gain and maintain competitive advantage. 10; 10; Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

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