Performance metrics analysis for aircraft maintenance process control

2014 ◽  
Vol 20 (2) ◽  
pp. 122-134 ◽  
Author(s):  
Kevin M. Taaffe ◽  
Robert William Allen ◽  
Lindsey Grigg
Keyword(s):  
Performance Metrics ◽  
Performance Measurements ◽  
Content Type ◽  
Root Cause ◽  
Continuous Improvement Process ◽  
Performance Metric ◽  
The Right ◽  
The Cost ◽  
And Behavior ◽  
Maintenance Process

Purpose – Performance measurements or metrics are that which measure a company's performance and behavior, and are used to help an organization achieve and maintain success. Without the use of performance metrics, it is difficult to know whether or not the firm is meeting requirements or making desired improvements. During the course of this study with Lockheed Martin, the research team was tasked with determining the effectiveness of the site's existing performance metrics that are used to help an organization achieve and maintain success. Without the use of performance metrics, it is difficult to know whether or not the firm is meeting requirements or making desired improvements. The paper aims to discuss these issues. Design/methodology/approach – Research indicates that there are five key elements that influence the success of a performance metric. A standardized method of determining whether or not a metric has the right mix of these elements was created in the form of a metrics scorecard. Findings – The scorecard survey was successful in revealing good metric use, as well as problematic metrics. In the quality department, the Document Rejects metric has been reworked and is no longer within the executive's metric deck. It was also recommended to add root cause analysis, and to quantify and track the cost of non-conformance and the overall cost of quality. In total, the number of site wide metrics has decreased from 75 to 50 metrics. The 50 remaining metrics are undergoing a continuous improvement process in conjunction with the use of the metric scorecard tool developed in this research. Research limitations/implications – The metrics scorecard should be used site-wide for an assessment of all metrics. The focus of this paper is on the metrics within the quality department. Practical implications – Putting a quick and efficient metrics assessment technique in place was critical. With the leadership and participation of Lockheed Martin, this goal was accomplished. Originality/value – This paper presents the process of metrics evaluation and the issues that were encountered during the process, including insights that would not have been easily documented without this mechanism. Lockheed Martin Company has used results from this research. Other industries could also apply the methods proposed here.

Balqis restaurant: how to move on?

2017 ◽  
Vol 7 (3) ◽  
pp. 1-19
Author(s):  
Farzana Quoquab ◽  
Shazwani Binti Ahmad ◽  
Wan Nurul Syazwani Binti Wan Danial ◽  
Jihad Mohammad
Keyword(s):  
Subject Area ◽  
Marketing Mix ◽  
Business Success ◽  
Strategic Decisions ◽  
Gradual Improvement ◽  
Content Type ◽  
To Come ◽  
Set Up ◽  
The Right ◽  
The Cost

Subject area This case can be used in marketing management as well as consumer behaviour courses. Study level/applicability This case is suitable to use in advanced undergraduate levels, MBA and MSc in marketing courses that cover topics related to market segmentation and marketing mix strategies. Case overview This case highlights the dilemma of an entrepreneur and a manager of a restaurant who were to take a decision about the sustainability of their restaurant business. Balqis Restaurant was owned by Danny who was a retiree from Telekom Malaysia. He wanted to open a restaurant business after he came back from his long holiday trip. He conducted market research to find a suitable place to open his Arabic restaurant. He assigned Waleed Masood Abdullah as the manager of Balqis Restaurant. Finally, in June 2010, he opened his long awaited restaurant at Gombak, Kuala Lumpur. The restaurant was known as Qasar before the name was changed to Balqis in 2015 because of copyright issues related to Saba’ restaurant at Cyberjaya. The restaurant was well managed under Danny’s supervision for 4 years and successfully won customers’ hearts and loyalty before he decided to give full responsibility to Waleed in March 2014. Danny trusted Waleed because he taught and trained him. However, under Waleed’s management, Balqis started to lose its customers. Waleed also started to branch out the restaurant to different places in different states; one in Ipoh, and the other in Perak. He invested much money on renovation for all three branches, but one of the restaurants closed down in September 2014. This is because of the fact that they could no longer bear the cost of operations for the restaurant. However, he failed to learn from the mistake; they set up another restaurant, which was in Kuantan, in the same month. The sales were not that encouraging but it did show gradual improvement; yet, they once again sold it to another Arab businessman. Waleed realized his failure in managing the restaurant business in August 2015. He again opted to open another new branch which was questioned by Danny. He was in a rush to open it by the end of December 2015 to ensure that the additional profits from the current restaurants could cover the variables costs if the new restaurants were launched. Based on that, the owner had to make a decision about whether a new branch should be opened or whether they should just retain their restaurant in Gombak. Expected learning outcomes The learning objectives of using this case are as follows. 1. Knowledge enhancement: to help students in understanding the problems faced by a restaurant in expanding its market; to make students aware that a properly blended marketing mix is the key to business success and to broaden students’ views and understanding in targeting the proper market segment in formulating an effective marketing strategy. 2. Skills building: to be able to identify the best marketing strategic decisions to manage the restaurant business for its survival and to develop students’ ability to analyse the existing situation to come up with a viable and effective solution. 3. Attitudinal: to help the students to have intellectual openness in accepting different ways of finding solutions for a particular problem and to assist students in making the right move at the right time. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes. Subject code CSS 8: Marketing.

Modeling the performance of healthcare construction projects

2019 ◽  
Vol 26 (9) ◽  
pp. 2023-2039
Author(s):  
Karim A. Iskandar ◽  
Awad S. Hanna ◽  
Wafik Lotfallah
Keyword(s):  
Mathematical Model ◽  
Performance Metrics ◽  
Project Performance ◽  
The Body ◽  
Assessment Tools ◽  
Healthcare Sector ◽  
High Tech ◽  
Relative Importance ◽  
Content Type ◽  
Performance Metric

Purpose Healthcare-sector projects are some of the most complex in modern practice due to their reliance on high-tech components and the level of precision they must maintain. Existing literature in healthcare performance specifically is scarce, but there is a recent increasing trend in both healthcare construction and a corresponding trend in related literature. No previously existing study has derived weights (relative importance) of performance metric in an objective, data-based manner. The purpose of this paper is to present a newly developed mathematical model that derives these weights, free of subjectivity that is common in other literature. Design/methodology/approach This paper’s model considers 17 exceptional projects and 19 average projects, and reveals the weights (or relative importance) of ten performance metrics by comparing how projects relate to one another in terms of each metric individually. It solves an eigenvalue problem that maximizes the difference between average and exceptional project performances. Findings The most significant weight, i.e. the performance metric which has the greatest impact on healthcare project performance, was request for information per million dollars with a weight of 16.07 percent. Other highly weighted metrics included construction speed and schedule growth at 13.08 and 12.23 percent, respectively. Rework was the least significant metric at 3.61 percent, but not all metrics of quality had low ratings. Deficiency issues per million dollars was weighted at 11.61 percent, for example. All weights derived by the model in this paper were validated statistically to ensure their applicability as comparison and assessment tools. Originality/value There is no widely accepted measure of project performance specific to healthcare construction. This study’s contribution to the body of knowledge is its mathematical model which is a landmark effort to develop a single, objective, unified project performance index for healthcare construction. Furthermore, this unified score presents a user-friendly avenue for contractors to standardize their productivity tracking – a missing piece in the practices of many contractors.

Costs and benefits of using cross-docking in the retail supply chain

2019 ◽  
Vol 47 (4) ◽  
pp. 412-432 ◽  
Author(s):  
Yassine Benrqya
Keyword(s):  
Supply Chain ◽  
Cost Model ◽  
Costs And Benefits ◽  
Actual Case ◽  
Content Type ◽  
Cross Docking ◽  
The Cross ◽  
The Right ◽  
The Cost

Purpose The purpose of this paper is to investigate the costs/benefits of implementing the cross-docking strategy in a retail supply chain context using a cost model. In particular, the effects of using different typologies of cross-docking compared to traditional warehousing are investigated, taking into consideration an actual case study of a fast-moving consumer goods (FMCG) company and a major French retailer. Design/methodology/approach The research is based on a case study of an FMCG company and a major French retailer. The case study is used to develop a cost model and to identify the main cost parameters impacted by implementing the cross-docking strategy. Based on the cost model, a comparison of the main cost factors characterizing four different configurations is made. The configurations studied are, the traditional warehousing strategy (AS-IS configuration, the reference configuration for comparison), where both retailers and suppliers keep inventory in their warehouses; the cross-docking pick-by-line strategy, where inventory is removed from the retailer warehouse and the allocation and sorting are performed at the retailer distribution centre (DC) level (TO-BE1 configuration); the cross-docking pick-by-store strategy, where the allocation and sorting are done at the supplier DC level (TO-BE2 configuration); and finally a combination of cross-docking pick-by-line strategy and traditional warehousing strategy (TO-BE3 configuration). Findings The case study provides three main observations. First, compared to traditional warehousing, cross-docking with sorting and allocation done at the supplier level increases the entire supply chain cost by 5.3 per cent. Second, cross-docking with allocation and sorting of the products done at the retailer level is more economical than traditional warehousing: a 1 per cent reduction of the cost. Third, combining cross-docking and traditional warehousing reduces the supply chain cost by 6.4 per cent. Research limitations/implications A quantitative case study may not be highly generalisable; however, the findings form a foundation for further understanding of the reconfiguration of a retail supply chain. Originality/value This paper fills a gap by proposing a cost analysis based on a real case study and by investigating the costs and benefits of implementing different configurations in the retail supply chain context. Furthermore, the cost model may be used to help managers choose the right distribution strategy for their supply chain.

Right to be forgotten likely to be EU-based

2019 ◽  
Keyword(s):  
Regulatory Compliance ◽  
Content Type ◽  
General Data Protection Regulation ◽  
Technology Firms ◽  
Right To Be Forgotten ◽  
Internet Users ◽  
European Court ◽  
General Data ◽  
The Right ◽  
The Cost

Subject The EU’s right to be forgotten principle. Significance An advocate-general of the European Court of Justice (ECJ) on January 10 stated the EU’s principle of ‘the right to be forgotten’ (RTBF) should only apply to internet users within the EU and not globally. The opinion does not constitute the Court’s ruling and ECJ judges do not always follow the advice of senior legal officials. The issue divides EU national authorities and large technology companies. Impacts US tech firms will continue to face fines from national EU regulators on alleged violations of the General Data Protection Regulation. EU actions against US tech firms will exacerbate transatlantic tensions. For smaller technology firms, the cost of EU regulatory compliance may be prohibitive.

Relative performance of religious and ethical investment funds

2020 ◽  
Vol 11 (6) ◽  
pp. 1227-1244 ◽  
Author(s):  
Esther Castro ◽  
M. Kabir Hassan ◽  
Jose Francisco Rubio ◽  
Zairihan Abdul Halim
Keyword(s):  
Mutual Funds ◽  
Performance Metrics ◽  
Relative Performance ◽  
Data Envelopment ◽  
Ethical Investment ◽  
Socially Responsible ◽  
Investment Funds ◽  
Content Type ◽  
Asset Pricing Models ◽  
The Cost

Purpose This paper updates the literature regarding the performance of constrained US mutual funds by looking at the relative performance of Christian mutual funds, socially responsible funds and Islamic funds. This paper aims to rank the performance of religious and ethical investment funds. Design/methodology/approach This study uses monthly returns from 2005 to 2015 to perform traditional asset pricing models as well as data envelopment analysis to determine rank. Findings Islamic mutual funds outperform socially responsible funds, which then outperform Christian-based mutual funds; these results are also consistent during the latest 2007-2008 crisis period. The results are robust to different performance metrics and benchmarks. Moreover, this paper reports a significant amount of money “left on the table” by investing in constraint funds and disregarding the sin industry which shows an ethical dilemma for investors. Practical implications Investors who seek to invest morally/ethically can be informed of the cost of doing so. They can also compare portfolio with others that have similar holdings and constraints. Originality/value This paper not only includes Christian mutual funds in the research but also provides the performance of all constrained assets. It also compares religious funds with “SIN” industry, and thus quantifies the cost of “doing right.”

Model of the port performance metrics in ports by integration six sigma and system dynamics

2018 ◽  
Vol 35 (1) ◽  
pp. 82-108 ◽  
Author(s):  
Asep Ridwan ◽  
Bernd Noche
Keyword(s):  
Complex System ◽  
System Dynamics ◽  
Six Sigma ◽  
Performance Metrics ◽  
Poor Quality ◽  
Content Type ◽  
Cargo Handling ◽  
Entire Flow ◽  
The Cost ◽  
Metrics Model

Purpose The purpose of this paper is to design a model of the port performance metrics for improving the quality in ports by integration of six sigma and system dynamics (SD) approach. Design/methodology/approach The port performance is measured by the sigma value (SV), the process capability indices (PCIs), and the cost of poor quality (COPQ) as the performance metrics. A port is a complex system that requires SD as an appropriate tool to simulate the model dynamically. The performance metrics focus on measuring the port performance in the entire flow of material in the cargo handling process. Findings With this model, the changing of the SV, the PCIs, and the COPQ can be identified and analyzed the results to improve the performance in ports. These metrics are utilized to eliminate “waste” in the cargo handling process at ports. This waste consists of lost and damaged cargo, equipment and transporter breakdown, and equipment and transporter delay time. The port performance metrics model can assess the causal relationships in ports as a complex system. Originality/value Studies on integration between the six sigma model and SD in ports are few and relatively limited. The port’s performance can be measured directly using the SV, the PCIs, and the COPQ in the simulation. The port performance metrics model will give the decision makers to make some scenarios to contribute for the optimization of performance in ports.

HR tech startups in India

2018 ◽  
Vol 26 (3) ◽  
pp. 11-13 ◽  
Author(s):  
Havish Madhvapaty ◽  
Anupama Rajesh
Keyword(s):  
Design Methodology ◽  
Work Processes ◽  
Content Type ◽  
Academic Literature ◽  
Legacy Data ◽  
The Right ◽  
The Cost ◽  
Practical Implications ◽  
Technology Startups ◽  
Common Platform

Purpose This article aims to establish the need for professionals and industry to get together on a common platform to engage in discussions, identify innovations and set standards. The movement of employees from unorganized to organized segment is accelerating and subsequently the cost of managing employees is also going to increase manifold for Indian organizations. The HR Tech landscape is pegged at $400m annually and expected to grow significantly. Design/methodology/approach The paper looks at the HR Tech landscape and posits how HR technologies can help companies save significant costs, and also bring in advanced techniques such as automation and analytics which will improve work efficiency. Findings While big enterprises are also working in the area of HR technology, startups are showing rapid progress, owing to the fact that they do not have to cope with legacy data/technology/operations. Challenges still remain such as failure to lay groundwork for adoption by employees. Practical implications While there are diverse products and technologies in the market, the core challenge is to find the right product-market fit. HR buyers have to ensure that the solutions are future proof. Social implications Automation is going to affect a lot of jobs, certain profiles more so than others. At a larger scale, integrating automation in work processes will have a substantial adverse impact on employees in these job profiles. Originality/value The HR Tech landscape is inundated with technology-first startups. There is a dearth of academic literature. There is also a cogent need for professionals and industry to get together on a common platform to engage in discussions, identify innovations, and set standards.

Diagnosis and economic impact of operational variability – a case from the chemical forest industry

2015 ◽  
Vol 21 (3) ◽  
pp. 294-309
Author(s):  
Jukka Mikael Rantamäki ◽  
Olli Saarela
Keyword(s):  
Loss Function ◽  
Pulp Mill ◽  
The Body ◽  
Taguchi Loss Function ◽  
Content Type ◽  
Root Cause ◽  
Paper Manufacturing ◽  
Industry Standard ◽  
Cooking Process ◽  
The Cost

Purpose – This paper deals with the identification and diagnosis of operational variability in chemical processes, which is a common problem in mills but little explored in literature. The Cross-Industry Standard Process for Data Mining (CRISP-DM) is a widely used approach in problem solving. The purpose of this paper is to: first, contribute to the body of knowledge on applying CRISP-DM in a pulp mill production process and the special issues that need to be considered in this context. Exact amounts of a cost increase due to variation in pulp production have not been reported previously. Second, to quantify the cost of variation. Design/methodology/approach – In the case studied, the variation in a pulp mill batch cooking process had increased. In order to identify the causes of variation, CRISP-DM was applied. Findings – The cycle of variation was identified and found to be related to the batch cooking process cycle time. By using information from this analysis it was possible to detect otherwise unobserved defective steam nozzles. The defective equipment was repaired and improved. Further improvement was achieved when the fouling of a heat exchanger was found by analysis to be the root cause of long-term variability parameters. By applying CRISP-DM, equipment defects and fouling were identified as the root causes of the higher manufacturing costs due to increased variation were detected and estimated. The Taguchi loss function is a possible tool for estimating the cost of variation in pulp manufacturing. Originality/value – This paper provides new knowledge in the context of implementing CRISP-DM and the Taguchi loss function in the pulp and paper manufacturing process.

Supplier selection problem in IoT solutions

2019 ◽  
Vol 15 (1) ◽  
pp. 16-19 ◽  
Author(s):  
Sonal Agarwal ◽  
Vidushi Sharma ◽  
Anuradha Pughat
Keyword(s):  
Supply Chain ◽  
Unit Cost ◽  
Cost Optimization ◽  
Vendor Selection ◽  
Strategic Decisions ◽  
Product Cost ◽  
Content Type ◽  
Cost Constraints ◽  
The Right ◽  
The Cost

Purpose The use of Internet of Things (IoT) and networks has built a potential impact on the product cost and time in a company’s manufacturing process. These IoT solutions provide end-to-end visibility and faster introduction of merchandise and supplier in the market. The main aim of this research paper is to supply products with improved quality and cheaper price, whereas the rising response and quality of the client service. Design/methodology/approach This paper designs and develops two cases for selecting the most efficient vendor while keeping in mind the profit and cost constraints in optimization. Findings Outsourcing is a vital parameter to cut back the price and maximize the profit of the manufacturer. Therefore, the integration of supply chain with IoT can provide a solution to the cost optimization and supplier/vendor selection problems in supply chain management. Research limitations/implications The results show that the models are quite realistic and can help the IoT-based manufacturing units to make strategic decisions regarding product manufacturing and distribution. Practical implications The authors can further extend the model to derive the retailer’s profit function and develop the end product cost to the consumers and hence make it a n-level multi-vendor selection model for IoT-based systems. Originality/value The right choice of vendor for IoT-enabled business is a crucial concern. In this paper, the authors designed and developed multi-vendor models with in-house production and outsourcing decisions to meet the demand along with the vendor selection. The variable demands and designed variable unit cost function and batch order are set to make vendor selection more realistic.

Cross-sectional determinants of an executive performance metric index

2015 ◽  
Vol 41 (4) ◽  
pp. 396-404
Author(s):  
John Robinson
Keyword(s):  
Performance Metrics ◽  
Growth Options ◽  
Marginal Tax Rate ◽  
Cross Sectional ◽  
Content Type ◽  
Tax Rate ◽  
Executive Performance ◽  
Performance Metric ◽  
Performance Benchmarks ◽  
Stock Market Valuation

Purpose – Performance-based executive compensation has been well studied in the academic literature but relatively little attention has been paid to the performance metrics disclosed by corporations in their proxy statements. The paper aims to discuss this issue. Design/methodology/approach – Using these statements from a large sample of US firms from 1996 to 2005, the author constructs an accounting-based-metric index based on the inclusion or exclusion of performance benchmarks from five categories. Findings – The author finds firm rely more heavily on accounting-based evaluation when their stock market valuation is low. Larger firms, firms with a high marginal tax rate, and firms with low earnings per share are more likely to use accounting-based pay, levered firms are not more or less likely. Originality/value – These results are consistent with accounting-based pay being used by firms with fewer intangible assets, smaller unrealized growth options, and more established lines of business.

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