scholarly journals Resolving the productivity paradox of digitalised production

2021 ◽  
Vol 9 (2) ◽  
pp. 65
Author(s):  
Luzian Dold ◽  
Christian Speck
Keyword(s):  
Value Creation ◽  
Industry 4.0 ◽  
Theory Model ◽  
Business Leaders ◽  
Decision Makers ◽  
Practical Implementation ◽  
Qualitative Model ◽  
Practical Application ◽  
Productivity Paradox ◽  
Digital Strategy

Although Industry 4.0 and other initiatives predict widespread adoption of digitalised technology on the factory floor, few companies use new digitalised production technology holistically in their ecosystems; in practical implementation, companies often decide against digitalisation for financial reasons. This is due to a paradox (akin to the so called “productivity paradox”) caused by the complexity of value creation and value delivery within digitalised production. This article analyses and synthesises cross-disciplinary research using a grounded theory model, thus offering valuable insights for businesses considering investing in digitalised production. A qualitative model and an associated toolbox (complete with tools for practical application by business leaders and decision-makers) are presented to address organisational uncertainty and leadership disconnect that often contribute to the paradoxical gap between digital strategy and operational implementation.

scholarly journals Logistics Response to the Industry 4.0: the Physical Internet

2016 ◽  
Vol 6 (1) ◽  
Author(s):  
Marinko Maslarić ◽  
Svetlana Nikoličić ◽  
Dejan Mirčetić
Keyword(s):  
Value Creation ◽  
Value Chain ◽  
Industry 4.0 ◽  
Manufacturing Industry ◽  
Business Models ◽  
Decision Makers ◽  
Logistics System ◽  
Global Logistics ◽  
Physical Internet ◽  
Organization Of Production

Abstract Today’s mankind and all human activities are constantly changing and evolving in response to changes in technology, social and economic environments and climate. Those changes drive a “new” way of manufacturing industry. That novelty could be described as the organization of production processes based on technology and devices autonomously communicating with each other along the value chain. Decision-makers have to address this novelty (usually named as Industry 4.0) and try to develop appropriate information systems, physical facilities, and different kind of technologies capable of meeting the future needs of economy. As a consequence, there is a need for new paradigms of the way freight is move, store, realize, and supply through the world (logistics system). One of the proposed solutions is the Physical Internet, concept of open global logistics system which completely redefines current supply chain configuration, business models, and value-creation patterns.However, further detailed research on this topic is much needed. This paper aims to provide a balanced review of the variety of views considered among professionals in the field of Physical Internet with the final aim to identify the biggest challenges (technological, societal, business paradigm) of proposed new logistics paradigm as a practical solution in supporting Industry 4.0.

scholarly journals Circular economy in companies: an analysis of selected indicators from a managerial perspective

2019 ◽  
Vol 2 (1) ◽  
pp. 523-535
Author(s):  
Agnieszka Janik ◽  
Adam Ryszko
Keyword(s):  
Circular Economy ◽  
Comprehensive Evaluation ◽  
Decision Makers ◽  
Practical Implementation ◽  
Decision Making Process ◽  
Practical Application ◽  
Circular Model ◽  
Micro Level ◽  
Operational Issues ◽  
Managerial Perspective

Abstract The circular economy (CE) concept is now gaining increasing attention and it is being widely explored as a promising path to sustainable development. CE implementation requires extensive activities needed for the transition from the linear to the circular model and suitable tools to support decision-makers in setting adequate goals and monitoring the effects of undertaken actions. Considering the need for research on effective CE performance evaluation, this article presents a comprehensive analysis and comparison of CE indicators available at the micro level. Based on a systematic literature review, 19 such CE indicators were identified. The indicators were assessed and compared using the Delphi methodology. The suitability of each metric for a comprehensive evaluation of CE performance was analyzed taking account of the criteria related to analytical opportunities and potential application of CE indicators, together with the criteria related to organizational and operational issues of practical application of CE indicators. The usefulness of CE indicators for practical implementation in companies was determined from a managerial perspective, with particular emphasis on supporting the decision-making process. The comparison of CE indicators presented in this article is intended to facilitate the choice of a specific metric depending on the company’s needs and on the possibilities of its application.

Optimizing preventive maintenance over a finite planning horizon in a semi-Markov framework

2020 ◽  
Author(s):  
Antonio Sánchez Herguedas ◽  
Adolfo Crespo Márquez ◽  
Francisco Rodrigo Muñoz
Keyword(s):  
Preventive Maintenance ◽  
Recurrence Relations ◽  
Direct Calculation ◽  
Planning Horizon ◽  
Practical Implementation ◽  
Practical Application ◽  
Mathematical Solution ◽  
Accumulated Reward ◽  
Finite Planning Horizon

Abstract This paper describes the optimization of preventive maintenance (PM) over a finite planning horizon in a semi-Markov framework. In this framework, the asset may be operating, and providing income for the asset owner, or not operating and undergoing PM, or not operating and undergoing corrective maintenance following failure. PM is triggered when the asset has been operating for τ time units. A number m of transitions specifies the finite horizon. This system is described with a set of recurrence relations, and their z-transform is used to determine the value of τ that maximizes the average accumulated reward over the horizon. We study under what conditions a solution can be found, and for those specific cases the solution τ* is calculated. Despite the complexity of the mathematical solution, the result obtained allows the analyst to provide a quick and easy-to-use tool for practical application in many real-world cases. To demonstrate this, the method has been implemented for a case study, and its accuracy and practical implementation were tested using Monte Carlo simulation and direct calculation.

scholarly journals Probability elicitation using geostatistics in hydrocarbon exploration

2021 ◽  
Author(s):  
André Luís Morosov ◽  
Reidar Brumer Bratvold
Keyword(s):  
Value Creation ◽  
Decision Process ◽  
Conceptual Models ◽  
Joint Probability ◽  
Decision Makers ◽  
Hydrocarbon Exploration ◽  
Joint Probability Distribution ◽  
Proof Of Concept ◽  
Geological Information ◽  
Decision Supporting

AbstractThe exploratory phase of a hydrocarbon field is a period when decision-supporting information is scarce while the drilling stakes are high. Each new prospect drilled brings more knowledge about the area and might reveal reserves, hence choosing such prospect is essential for value creation. Drilling decisions must be made under uncertainty as the available geological information is limited and probability elicitation from geoscience experts is key in this process. This work proposes a novel use of geostatistics to help experts elicit geological probabilities more objectively, especially useful during the exploratory phase. The approach is simpler, more consistent with geologic knowledge, more comfortable for geoscientists to use and, more comprehensive for decision-makers to follow when compared to traditional methods. It is also flexible by working with any amount and type of information available. The workflow takes as input conceptual models describing the geology and uses geostatistics to generate spatial variability of geological properties in the vicinity of potential drilling prospects. The output is stochastic realizations which are processed into a joint probability distribution (JPD) containing all conditional probabilities of the process. Input models are interactively changed until the JPD satisfactory represents the expert’s beliefs. A 2D, yet realistic, implementation of the workflow is used as a proof of concept, demonstrating that even simple modeling might suffice for decision-making support. Derivative versions of the JPD are created and their effect on the decision process of selecting the drilling sequence is assessed. The findings from the method application suggest ways to define the input parameters by observing how they affect the JPD and the decision process.

The hidden power of language

2020 ◽  
Vol 11 (1) ◽  
pp. 187-206
Author(s):  
Philipp Hummel ◽  
Jacob Hörisch
Keyword(s):  
Decision Making ◽  
Value Creation ◽  
Cost Reduction ◽  
Social Consequences ◽  
Decision Makers ◽  
Social Aspects ◽  
Social Aspect ◽  
Content Type ◽  
Current Accounting ◽  
Cost Reductions

Purpose Stakeholder theory research identifies changes in language as one possible mechanism to overcome the deficiencies of current accounting practices with regard to social aspects. This study aims to examine the effects of the terms used for specific accounts on company internal decision-making, drawing on the example of “value creation accounting”. Design/methodology/approach The study uses a survey based-experiment to analyze the effects of terms used for specific accounts on decision-making, with a focus on social aspects (in particular expenditures for staff) in cost reduction and expenditure decisions. Findings The findings indicate that wordings, which more closely relate to value creation than to costs, decrease cost reductions and increase the priority ascribed to the social aspect of reducing staff costs in times of financial shortage. The effects of terms used on cost reductions are stronger among female decision makers. Practical implications The analysis suggests that conventional accounting language best suits organizations that aim at incentivizing decision makers to primarily cut costs. By contrast, if an organization follows an approach that puts importance on social aspects in times of financial shortage and on not doing too sharp cost reductions, value creation-oriented language is the more effective approach. Social implications The study suggests that the specific terminology used for accounts should be chosen more carefully and with awareness for the possible effects on cost reduction decisions as well as on social consequences. Originality/value This study contributes to a better understanding of the relevance of language in accounting. It suggests that the terms used for accounts should be chosen purposefully because of their far-reaching potential consequences for stakeholders as well as for the organization.

Unveiling The Internal Forces Towards Digital Adaptation: A Change Perspective of Malaysian SMES

2021 ◽  
Vol 12 (1) ◽  
pp. 126-126
Author(s):  
Fariza Hanim Rusly ◽  
Yurita Yakimin Abdul Talib ◽  
Muhammad Rosni Amir Hussin Hafizah Abdul Mutalib
Keyword(s):  
Human Resources ◽  
Change Management ◽  
Information Flow ◽  
Value Creation ◽  
New Technologies ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Firm Structure ◽  
Internal Forces ◽  
Digital Strategy

Digital transformation, one of the key areas of change management in the digital age, is defined as a process of changes by the means of using IR technologies in firm's operation. The extant literature suggests that implementation of digital technologies could improve communication, information flow, thus contributing towards value creation and firm performance. Notwithstanding of scarce financial, human resources and strategic capabilities to adopt new technologies among SMEs (Lee et al., 2020), the firm structure, which is more flexible as compared to large firms, offers opportunity in terms of quick decision making (Ghobakhloo & Ching, 2019) for the owner to adapt the firm's business model with market changes and implement necessary changes to sustain in the business. Moreover, previous studies indicate SMEs gained benefit from technology adoption. Nevertheless, transformation towards digitalisation requires a considerable judgement of decision, investment and effort by management and among the employees. Keywords: Digitalisation,Digital Transformation, Digital Strategy, SME, Change Management

scholarly journals About the possibility of identification of hydrocarbon deposits with the help of NMR

2016 ◽  
Vol 5 (2) ◽  
pp. 551-559
Author(s):  
Pavlo M. Ivashchenko ◽  
Eduard A. Bakai ◽  
Alexander I. Yurchuk
Keyword(s):  
Magnetic Field ◽  
Nuclear Magnetic Resonance ◽  
Magnetic Resonance ◽  
Absorption Spectra ◽  
Weak Magnetic Field ◽  
Directional Antennas ◽  
Practical Implementation ◽  
Practical Application ◽  
The Earth ◽  
Hydrocarbon Deposits

Abstract. The main purpose of this article is to review the theoretical prerequisites of nuclear magnetic resonance (NMR) application in tasks of search and exploration of hydrocarbon deposits. The identification peculiarities of hydrocarbon deposits in a weak magnetic field of the Earth were analysed. The necessity of using highly directional antennas for providing greater sounding depths as well as the use of absorption spectra of the sought-for minerals as sounding signals were identified and justified. A variant of practical implementation of such a system was examined and examples of practical application of the innovative NMR technology were provided.

scholarly journals 170 lat realizacji systemu ochrony przez wychowanie w koncepcji Edmunda Bojanowskiego

2020 ◽  
pp. 199-208
Author(s):  
S. Maria Opiela
Keyword(s):  
Child Care ◽  
Early Education ◽  
School Education ◽  
Practical Implementation ◽  
Practical Application ◽  
New Research

The pedagogical thought and concept of the system of protection by Edmund Bojanowski’s upbringing, even though it was born 170 years ago, appears today to be innovative and exceptionally up-to-date. Applied in contemporary pre-school education and child care, it is a continuation of the concept of upbringing and its practical implementation by establishing on May 3, 1850 the nursery and Congregation of the Servant Sisters. The theoretical and practical application of this concept and new research and scientific studies on the essence of early education realized in Catholic pedagogical thought in the context of contemporary civilization challenges is still expected from various circles in Poland and worldwide.

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