In past decades, manufacturing companies have paid considerable attention to using their available resources in the most efficient way to satisfy customer demands. This endeavor is supported by many Industry 4.0 methods. One of these is called MES (Manufacturing Execution System), which is applied for monitoring and controlling manufacturing by recording and processing production-related data. This article presents a possible method of implementation of a risk-adjusted production schedule in a data-rich environment. The framework is based on production datasets of multiple workshops, which is followed by statistical analysis, and its results are used in stochastic network models. The outcome of the simulation is implemented in a production scheduling model to determine how to assign the production among workshops. After collecting the necessary data, the reliability indicator-based stochastic critical path method was applied in the case study. Two cases were presented based on the importance of inventory cost and two different scheduling results were created and presented. With the objective of the least inventory cost, the production was postponed to the latest time possible, which means that workshops had more time to finish their previous work on the first day due to the small production quantity. When the cost was not relevant, the production started on the first day of each workshop, and the production was completed before the deadline. These are optimal solutions, but alternative solutions can also be performed by the decision maker based on the results. The use of the modified stochastic critical path method and its analysis shed light on the deficiency of the production, which is a merit in the continuous improvement process and the estimation of the total project time.
It is necessary to understand what cross-subsidization is - good or bad, evil or good, a problem that needs to be solved, or a necessity that should exist now. In my report, I will talk about the essence and history of the emergence of the phenomenon of cross-subsidization, I will describe the current state in order to understand where we are now, and the promising trends of this phenomenon that exist in public space, legislation, the heads and minds of science and government. I will also present a model for assessing the functioning of a consumer under conditions of work in the power system and in the case of his transition to its own generation with different amounts of cross-subsidization, I will dwell on the results of the simulation. The generated model is a toolkit for market participants that will help them choose the most profitable and efficient way of supplying energy.
PurposeThe aim is to study how the chemical industry in Tarragona (Spain) uses the internet to communicate with its community on issues relating to chemical risk and the impact of the chemical industry on the environment, health and safety.Design/methodology/approachA specific methodology was defined allowing the corporate websites of the chemical industry to be studied. A content analysis methodology was used, searching the information that exists on the corporate websites of the most significant trade associations and chemical companies in the Tarragona conglomerate.FindingsThe results suggest that there are some common characteristics of the chemical industry strategy in providing information on their corporate websites about the chemical risk and the impact of the chemical industry: a tendency to globalise the information about these issues, the maximisation of the positive concepts such as safety and commitment, and the minimisation of the negative concept of risk.Research limitations/implicationsThe study was carried out on a small number of companies, thus the results cannot be considered statistically representative of the entire chemical industry in Spain. In addition, the Tarragona population was not asked for their views on these corporate websites.Originality/valueThe results show the treatment of information concerning chemical risk in the most important trade associations and companies in the sector, the state of information concerning chemical risk on the corporate websites of such organisations, and the risk communication strategy of these companies through the internet. It also presents the design of a specific methodology suitable for analysing the information available on chemical risk on the corporate websites of companies, institutions and organisations of any kind.
Abstract: In September of 1996, The Board of Directors of the American Council of Life Insurance (“ACLI”)reversed decades of policy and embraced for the first time the concept of reciprocal ownership or “affiliations” between life insurance companies and commercial banks. Under this new policy mandate, the ACLI is advocating federal legislation that would permit banks to sell all types of insurance and control insurance underwriters through separate affiliates or subsidiaries. In return, 1) insurers would have the authority to acquire banks; 2) the insurance activities of banks would be fully subject to state insurance regulation; and 3) federal bank regulators would be precluded from preempting state regulatory authority.This article reviews the various factors that precipitated this watershed policy decision, discusses the structural and regulatory issues that are important to life insurers, and speculates briefly on the prospects for financial services legislation.
State Oil Company of Azerbaijan Republic, A.S. Abdullaev, N.A. Abbasov
et al.
The paper studies the methods applied in risk management and estimation. The brainstorming techniques, Delphi, the method of event tree analysis (ETA) and fault tree analysis (FTA), failure modes and effect analysis (FMEA), hazard and operability study are wide used. The pros and cons of risk management methods applied in world practice by leading companies were analysed. As a technique based on the study of logical connection between the hazardous events, “Tree event” method has its advantages. At the same time, the failure modes and effect analysis differs with simplicity and accessibility. It was defined that this technique is used as one of the most important tools in risk management almost in all spheres including petrochemistry and power economy. It is recommended to use HAZOP method in the analysis of project solutions and for risk estimation in later design stages. It is pointed out that in the context of improvement of risk management system, more qualitative risk estimation, the employment of advanced methods plays a significant role for goal achievement in the company and project decision-making as well.