Production Cost

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Timothy W. Simpson - One of the best experts on this subject based on the ideXlab platform.

  • Development of a Production Cost estimation framework to support product family design
    International Journal of Production Research, 2005
    Co-Authors: J. Park, Timothy W. Simpson
    Abstract:

    The main task of a product family designer is to decide the right components/design variables to share among products to maintain economies of scale with minimum sacrifice in the performance of each product in the family. The decisions are usually based on several criteria, but Production Cost is of primary concern. Estimating the Production Cost of a family of products involves both estimating the Production Cost of each product in the family and the Costs incurred by common and variant components/design variables in the family. To estimate these Costs consistently and accurately, we propose a Production Cost estimation framework to support product family design based on activity-based Costing (ABC), which consists of three stages: (1) allocation, (2) estimation, and (3) analysis. In the allocation stage, the Production activities and resources needed to produce the entire products in a family are identified and classified with an activity table, a resource table, and a Production flow. To help allocate ...

  • Development of a Production Cost Estimation Framework for Product Family Design
    Volume 1: 30th Design Automation Conference, 2004
    Co-Authors: Jaeil Park, Timothy W. Simpson
    Abstract:

    The main task of a product family designer is to decide the right components/design variables to share among products to maintain economies of scale with minimum sacrifice in the performance of each product in the family. The decisions are usually based on several criteria, but Production Cost is of primary concern. Estimating the Production Cost of a family of products involves estimating the Production Cost of each product in the family including the Cost effects of common and variant components/design variables in the family. In this paper, we introduce a Production Cost estimation framework for product family design based on Activity-Based Costing (ABC), which is composed of three stages: (1) allocation, (2) estimation, and (3) analysis. In the allocation stage, the Production activities that are necessary to produce all of the products in the family are identified and modeled with an activity table, a resource table, and an activity flow. To allocate the activities to products, a product family structure is represented by a hierarchical classification of the items that form the product family. In the estimation stage, Production Costs are estimated by converting the Production activities to Costs using key Cost drivers that consume main resources. In the analysis stage, components/design variables for product family design are investigated with resource sharing methods through activity analysis. As an example, the proposed framework is applied to estimate the Production Cost of a family of cordless power screwdrivers.Copyright © 2004 by ASME

  • Production Cost Modeling to Support Product Family Design Optimization
    Volume 2: 29th Design Automation Conference Parts A and B, 2003
    Co-Authors: Jaeil Park, Timothy W. Simpson
    Abstract:

    Product family design involves carefully balancing the commonality of the product platform with the distinctiveness of the individual products in the family. While a variety of optimization methods have been developed to help designers determine the best design variable settings for the product platform and individual products within the family, Production Costs are thought to be an important criterion to choose the best platform among candidate platform designs. Thus, it is prerequisite to have an appropriate Production Cost model to be able to estimate the Production Costs incurred by having common and variant components within a product family. In this paper, we propose a Production Cost model based on a Production Cost framework associated with the manufacturing activities. The Production Cost model can be easily integrated within optimization frameworks to support a Decision-Based Design approach for product family design. As an example, the Production Cost model is utilized to estimate the Production Costs of a family of cordless power screwdrivers.Copyright © 2003 by ASME

B. Manhire - One of the best experts on this subject based on the ideXlab platform.

  • Evaluation of variances in Production Cost of electric power systems
    International Journal of Electrical Power & Energy Systems, 1991
    Co-Authors: X. Feng, Danny Sutanto, B. Manhire
    Abstract:

    Abstract Variance, in addition to the expected Production Cost and loss of load probability, can be a very useful index in Production Costing, especially in the context of power plant fuel management. Based on the load duration curve (LDC) and equivalent unit concepts, an efficient algorithm has been developed to evaluate the variances in both the system Production Cost as well as for each generating unit. The approach is different from previous work by Mazumdar and Yin, since it does not assume the LDC to be a probability function. It treats the LDC as a deterministic function of the load's duration time. While the algorithm uses the LDC, it does not depend on it. The algorithm can be easily extended to chronological loads when used together with the Z-transform method developed by Sutanto. Because the LDC is not assumed to be a probability function here, this approach does not overestimate the variances as do methods that interpret the LDC as a probability function of the load.

J.a. Bloom - One of the best experts on this subject based on the ideXlab platform.

  • Representing the Production Cost curve of a power system using the method of moments
    IEEE Transactions on Power Systems, 1992
    Co-Authors: J.a. Bloom
    Abstract:

    An analytic formula, based upon the equivalent load method, for computing the Production Cost of a power system is presented. This formula can serve as a complement to larger, more complex Production Cost models since it requires significantly less data and computational effort when running many variants of a basic system configuration. The formula consists of several terms of a Gram-Charlier series using moments which are computed in one iteration of the usual probabilistic Production Cost algorithm. This formula is particularly suitable for use in iterative optimization models for generation planning, since its parameters can be recomputed easily to account for changes due to construction of new plants. It also permits simple calculation of the gradient of Production Cost with respect to the capacities of the candidate units. The formula also is useful in calculating the changes in Production Cost due to load shape changes associated with demand-side management. >

J. Park - One of the best experts on this subject based on the ideXlab platform.

  • Development of a Production Cost estimation framework to support product family design
    International Journal of Production Research, 2005
    Co-Authors: J. Park, Timothy W. Simpson
    Abstract:

    The main task of a product family designer is to decide the right components/design variables to share among products to maintain economies of scale with minimum sacrifice in the performance of each product in the family. The decisions are usually based on several criteria, but Production Cost is of primary concern. Estimating the Production Cost of a family of products involves both estimating the Production Cost of each product in the family and the Costs incurred by common and variant components/design variables in the family. To estimate these Costs consistently and accurately, we propose a Production Cost estimation framework to support product family design based on activity-based Costing (ABC), which consists of three stages: (1) allocation, (2) estimation, and (3) analysis. In the allocation stage, the Production activities and resources needed to produce the entire products in a family are identified and classified with an activity table, a resource table, and a Production flow. To help allocate ...

X. Feng - One of the best experts on this subject based on the ideXlab platform.

  • Evaluation of variances in Production Cost of electric power systems
    International Journal of Electrical Power & Energy Systems, 1991
    Co-Authors: X. Feng, Danny Sutanto, B. Manhire
    Abstract:

    Abstract Variance, in addition to the expected Production Cost and loss of load probability, can be a very useful index in Production Costing, especially in the context of power plant fuel management. Based on the load duration curve (LDC) and equivalent unit concepts, an efficient algorithm has been developed to evaluate the variances in both the system Production Cost as well as for each generating unit. The approach is different from previous work by Mazumdar and Yin, since it does not assume the LDC to be a probability function. It treats the LDC as a deterministic function of the load's duration time. While the algorithm uses the LDC, it does not depend on it. The algorithm can be easily extended to chronological loads when used together with the Z-transform method developed by Sutanto. Because the LDC is not assumed to be a probability function here, this approach does not overestimate the variances as do methods that interpret the LDC as a probability function of the load.