Towards an integrated perspective on fleet asset management: engineering and governance considerations

The traditional engineering perspective on asset management concentrates on the operational performance the assets. This perspective aims at managing assets through their life-cycle, from technical specification, to acquisition, operation including maintenance, and disposal. However, the engineering perspective often takes for granted organizational-level factors. For example, a focus on performance at the asset level may lead to ignore performance measures at the business unit level. The governance perspective on asset management usually concentrates on organizational factors, and measures performance in financial terms. In doing so, the governance perspective tends to ignore the engineering considerations required for optimal asset performance. These two perspectives often take each other for granted. However experience demonstrates that an exclusive focus on one or the other may lead to sub-optimal performance. For example, the two perspectives have different time frames: engineering considers the long term asset life-cycle whereas the organizational time frame is based on a yearly financial calendar. Asset fleets provide a relevant and important context to investigate the interaction between engineering and governance views on asset management as fleets have distributed system characteristics. In this project we investigate how engineering and governance perspectives can be reconciled and integrated to enable optimal asset and organizational performance in the context of asset fleets

The Economics of Selling Crop Residue Biomass for Cellulosic Ethanol Production at the Farm Level

A partial budget decision making framework has been developed to assist crop producers in analyzing the profitability of selling cellulosic biomass from their fields for ethanol production. A multidisciplinary approach is taken in assessing the agronomic and economic factors relevant to biomass contract sales decisions – with direct application made to western Great Plains cropping systems and enterprises. Within this framework the benefits of increased revenue from cellulosic biomass contract sales and potential government assistance payments are considered against possible decreased revenue from diminished crop yields resulting from less crop residue cover and subsequent soil moisture evaporation. Increased biomass harvesting and handling are also considered, as is the cost of replacing crop nutrients removed as part of biomass harvest operations. Examples of the profitability of cellulosic biomass contract sales in center pivot irrigated corn and non-irrigated wheat enterprises are shown.Resource /Energy Economics and Policy,

EXPORT QUALITY MANAGEMENT IN A WORLD GLOBAL ECONOMY

Quality became the management imperative of the last two decades and willcontinue to be the key to success in the future. We often see the words quality first , anddemands for quality invade every sphere of activity, from the motor vehicles we drive, to thedomestic appliances we use, the food we eat, the restaurants we dine in, the doctors we visit,and the products we import and export, reminding us that quality is the goal of everybusiness, and that its focus is the customer . Satisfying the requirements of the customer is adynamic activity: both customers and their needs change and the supplier has to recognize this.When it comes to trade, no exporting country can afford to compromise on quality. The currenteconomic climate calls for export marketing and promotion efforts with assurances of superiorand consistent quality in products and services, associated with lower prices and delivery ofthe right product at the right time.quality, management, foreign trade, efficiency

Critical Management Issues for Implementing RFID in Supply Chain Management

The benefits of radio frequency identification (RFID) technology in the supply chain are fairly compelling. It has the potential to revolutionise the efficiency, accuracy and security of the supply chain with significant impact on overall profitability. A number of companies are actively involved in testing and adopting this technology. It is estimated that the market for RFID products and services will increase significantly in the next few years. Despite this trend, there are major impediments to RFID adoption in supply chain. While RFID systems have been around for several decades, the technology for supply chain management is still emerging. We describe many of the challenges, setbacks and barriers facing RFID implementations in supply chains, discuss the critical issues for management and offer some suggestions. In the process, we take an in-depth look at cost, technology, standards, privacy and security and business process reengineering related issues surrounding RFID technology in supply chains

Costs of quality or quality costs

Costs of quality or quality costs do not mean the use of expensive or very highly quality materials to manufacture a product. The term refers to the costs that are incurred to prevent, detect and remove defects from products. There are four categories: internal failure costs (costs associated with defects found before the customer receives the product or service), external failure costs (costs associated with defects found after the customer receives the product or service), appraisal costs (costs incurred to determine the degree of conformance to quality requirements) and prevention costs (costs incurred to keep failure and appraisal costs to a minimum). Cost of quality is a methodology that allows an organization to determine the extent to which its resources are used for activities that prevent poor quality, that appraise the quality of the organization's products or services, and that result from internal and external failures. Having such information allows an organization to determine the potential savings to be gained by implementing process improvements.Web of Science5213

Joint Liability Lending and the Rise and Fall of China's Township and Village Enterprises

Using data from a recent survey of bank and enterprise managers and government officials in southern China, we present a new explanation for the rise and fall of collectively-owned township and village enterprises (TVEs) based on the willingness of banks to finance collective enterprise development. Until recently bank loans to TVEs exhibited the key features of joint liability lending, supported by the unique sanctioning ability of local leaders. Beginning in the mid 1990s, liquidation costs fell, firm performance deteriorated, real interest rates rose, and financial competition increased. These changes led to a dramatic change in the lending preferences of banks in favor of private firms. Empirical estimates of the determinants of bank lending preferences, the involvement of township leaders in lending, and the ability of firms to obtain loans support our explanation.http://deepblue.lib.umich.edu/bitstream/2027.42/39846/3/wp462.pd

Management of investment processes on Finnish farms

Structural change in agriculture means a continuous need for investing in farm production. It is essential for the sustainable operations and the economy of the farm that such investments are successful. In this research, different stages of the investment process of farms were studied as well as the use of information and the success perceived during the investment process. The study was carried out with mail surveys and telephone interviews on the Finnish Farm Accountancy Data Network (FADN) farms. The most challenging investments were in animal husbandry buildings and, as to these investments, the comparison of alternatives was the most challenging stage. For most investments, the planning phase was considered more challenging than the implementation. Before making the decision, farmers acquired information from many sources, of which the opinion of the main customer and the experiences of fellow farmers were the most valued. Some of the products considered were so new on the market that it was not easy to get adequate information and, furthermore, the information given by suppliers was not always accurate. Decision-making was supported by calculations, but qualitative factors had a dominating role. Large basic decisions were made relatively quickly, while details needed a longer time to process. In general, farm managers were satisfied with their investments. Improvements in work quality and quantity were especially mentioned and generally qualitative factors were the ones first in mind when evaluating the successfulness of the investment

SWINE PRODUCTION NETWORKS IN MINNESOTA: RESOURCES FOR DECISION MAKING

Swine production networks are becoming a significant part of the Minnesota swine industry, with at least 30 production networks in operation as of late 1995. There are probably at least 450 producers involved, representing at least nine percent of the state s sow inventory. Not counted in these numbers are a few other networks involved only in data-sharing or marketing as well as a large number of farmer-to-farmer custom/contract arrangements. We interviewed 20 producers involved in networks. None of the networks we surveyed had been in operation very long, with most in business no more than a year or two. It is too early to predict what their long-term success will be. Most of the respondents seemed pleased with the arrangements so far. An example financial analysis of a 1,400 sow network is presented in the paper. Pig pricing formulas and custom rates are discussed for sharing risks among the farrower, nursery and finisher members of the network. The staff paper is 34 pages plus a 26 page annotated reading list of other publications on networking and segregated early weaning.Livestock Production/Industries,

A Survey on Economic-driven Evaluations of Information Technology

The economic-driven evaluation of information technology (IT) has become an important instrument in the management of IT projects. Numerous approaches have been developed to quantify the costs of an IT investment and its assumed profit, to evaluate its impact on business process performance, and to analyze the role of IT regarding the achievement of enterprise objectives. This paper discusses approaches for evaluating IT from an economic-driven perspective. Our comparison is based on a framework distinguishing between classification criteria and evaluation criteria. The former allow for the categorization of evaluation approaches based on their similarities and differences. The latter, by contrast, represent attributes that allow to evaluate the discussed approaches. Finally, we give an example of a typical economic-driven IT evaluation