Transaction Costs and Profitability in UK Manufacturing

This paper explores the impact of transaction costs on performance at firm and industry levels using a sample of 7350 UK manufacturing firms. This is achieved by estimating a profit function with estimated transaction costs as a right hand side variable. The discussion has two specific objectives. (1) To show how firm and average industry transaction costs can be estimated using a stochastic frontier method. (2) To examine a central claim of transaction cost theory that links these costs to performance. In addition the different impacts of static and dynamic transaction costs are emphasised, with the different impacts being respectively negative and positive on profitability. Broadly speaking it is shown that such costs do impact on performance in a way consistent with both static and dynamic costs, in different industries, and that the impacts hold after a series of robustness checks. In addition it is shown that the impacts can depend on monopoly power, firm scale, and firm growth

Structural validation of a realistic wing structure: the RIBES test article

Several experimental test cases are available in literature to study and validate fluid structure interaction methods. They, however, focus the attention mainly on replicating typical cruising aerodynamic conditions forcing the adoption of fully steel made models able to operate with the high loads generated in high speed facilities. This translates in a complete loss of similitude with typical realistic aeronautical wing structures configurations. To reverse this trend, and to better study the aerolastic mechanism from a structural point of view, an aeroelastic measurement campaign was carried within the EU RIBES project. A half wing model for wind tunnel tests was designed and manufactured replicating a typical metallic wing box structure, producing a database of loads, pressure, stress and deformation measurements. In this paper the design, manufacturing and validation activities performed within the RIBES project are described, with a focus on the structural behavior of the test article. All experimental data and numerical models are made freely available to the scientific community

Multi-camera complexity assessment system for assembly line work stations

In the last couple of years, the market demands an increasing number of product variants. This leads to an inevitable rise of the complexity in manufacturing systems. A model to quantify the complexity in a workstation has been developed, but part of the analysis is done manually. Thereto, this paper presents the results of an industrial proof-of-concept in which the possibility of automating the complexity analysis using multi camera video images, was tested

Types of cost in inductive concept learning

Inductive concept learning is the task of learning to assign cases to a discrete set of classes. In real-world applications of concept learning, there are many different types of cost involved. The majority of the machine learning literature ignores all types of cost (unless accuracy is interpreted as a type of cost measure). A few papers have investigated the cost of misclassification errors. Very few papers have examined the many other types of cost. In this paper, we attempt to create a taxonomy of the different types of cost that are involved in inductive concept learning. This taxonomy may help to organize the literature on cost-sensitive learning. We hope that it will inspire researchers to investigate all types of cost in inductive concept learning in more depth

Modeling of 2D and 3D Assemblies Taking Into Account Form Errors of Plane Surfaces

The tolerancing process links the virtual and the real worlds. From the former, tolerances define a variational geometrical language (geometric parameters). From the latter, there are values limiting those parameters. The beginning of a tolerancing process is in this duality. As high precision assemblies cannot be analyzed with the assumption that form errors are negligible, we propose to apply this process to assemblies with form errors through a new way of allowing to parameterize forms and solve their assemblies. The assembly process is calculated through a method of allowing to solve the 3D assemblies of pairs of surfaces having form errors using a static equilibrium. We have built a geometrical model based on the modal shapes of the ideal surface. We compute for the completely deterministic contact points between this pair of shapes according to a given assembly process. The solution gives an accurate evaluation of the assembly performance. Then we compare the results with or without taking into account the form errors. When we analyze a batch of assemblies, the problem is to compute for the nonconformity rate of a pilot production according to the functional requirements. We input probable errors of surfaces (position, orientation, and form) in our calculus and we evaluate the quality of the results compared with the functional requirements. The pilot production then can or cannot be validated

LTA structures and materials technology

The state-of-the-art concerning structures and materials technology is reviewed. It is shown that many present materials developments resulting from balloon and aircraft research programs can be applied to new concepts in LTA vehicles. Both buoyant and semi-buoyant vehicles utilize similar approaches to solving structural problems and could involve pressurized non-rigid and unpressurized rigid structures. System designs common to both and vital to structural integrity include much of the past technology as well. Further research is needed in determination of structural loads, especially in future design concepts

Online Tool Condition Monitoring Based on Parsimonious Ensemble+

Accurate diagnosis of tool wear in metal turning process remains an open challenge for both scientists and industrial practitioners because of inhomogeneities in workpiece material, nonstationary machining settings to suit production requirements, and nonlinear relations between measured variables and tool wear. Common methodologies for tool condition monitoring still rely on batch approaches which cannot cope with a fast sampling rate of metal cutting process. Furthermore they require a retraining process to be completed from scratch when dealing with a new set of machining parameters. This paper presents an online tool condition monitoring approach based on Parsimonious Ensemble+, pENsemble+. The unique feature of pENsemble+ lies in its highly flexible principle where both ensemble structure and base-classifier structure can automatically grow and shrink on the fly based on the characteristics of data streams. Moreover, the online feature selection scenario is integrated to actively sample relevant input attributes. The paper presents advancement of a newly developed ensemble learning algorithm, pENsemble+, where online active learning scenario is incorporated to reduce operator labelling effort. The ensemble merging scenario is proposed which allows reduction of ensemble complexity while retaining its diversity. Experimental studies utilising real-world manufacturing data streams and comparisons with well known algorithms were carried out. Furthermore, the efficacy of pENsemble was examined using benchmark concept drift data streams. It has been found that pENsemble+ incurs low structural complexity and results in a significant reduction of operator labelling effort.Comment: this paper has been published by IEEE Transactions on Cybernetic