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Aircraft economics
Published in Gert Meijer, Fundamentals of Aviation Operations, 2020
Finance by banks come basically in two ways. First, there is the straightforward loan, whereby the capital good is the collateral for the loan, a mortgage. The loan itself comes against a market conform interest, but as aviation investments are generally regarded to be moderately risky by banks, the interest rates are moderate as well. In case of default by the loaner, the aircraft becomes at the disposal of the bank, and this is why banks assume their risks to be moderate. Successful aircraft types retain their value for a long time, and replacing the aircraft at a new operator after a defaulted first operator is assumed to be relatively easy as aircraft can be placed anywhere in the world, a quality that real estate, for example, does not possess.
Technological development of the passenger car industry (1981–2000)
Published in Jatinder Singh, Global Players and the Indian Car Industry, 2018
To understand the technology strategies of firms, investment on different components of technology have been separately analysed. As mentioned earlier, in PROWESS, data related to technology is available under three sub-heads: (a) in-house R&D; (b) disembodied imports of technology and (c) imports of technology in embodied form. For the purpose, three indices have been constructed and computed both for individual firms and the industry. R&D Intensity: It is computed by calculating spending in in-house R&D as percentage of sales value.Index of Disembodied Technology: Expenditure on disem-bodied technology import includes payments in the form of royalty, fees for technical services and lump-sum payments. Disembodied technology brings technology in the form of blueprints, licensing etc. It is calculated by dividing expenditure on imports of disembodied technology by total sales, multiplied by 100.Index of Embodied Technology: Import of embodied technology includes purchase of machinery and other capital equipment. It is considered as embodied technology because imported machinery and capital goods are generally equipped with advanced technology. Bringing these capital goods into use in the production process improves efficiency. Due to this feature, its import is termed as embodied technology imports. It is estimated by measuring expenditure on imports of capital goods as a percentage of sales value.
Construction productivity measurement
Published in Emmanuel Bamfo-Agyei, Clinton Aigbavboa, Wellington Didibhuku Thwala, Measuring Productivity of Labour-Intensive Work Practices in Road Construction in Africa, 2023
Emmanuel Bamfo-Agyei, Clinton Aigbavboa, Wellington Didibhuku Thwala
Measuring labour productivity takes into account both the direct and indirect effects of technological progress in the form of changes in capital inputs, intermediate inputs, and total productivity. There are two ways in which capital goods and intermediate inputs improve productivity: one is through capital goods and intermediate inputs, and the other is through increased production possibilities. As an example, the gross output measure requires simply price indices on gross output, not intermediate inputs, as is the case for the value-added-based measure.
A mixed-integer linear programming model for integrated production and preventive maintenance scheduling in the capital goods industry
Published in International Journal of Production Research, 2019
Sirikarn Chansombat, Pupong Pongcharoen, Christian Hicks
Capital goods refer to ‘the stock of physical assets created in the past for current and future production’, ‘capital goods are not produced to satisfy consumption needs directly, but to increase the eventual output of consumer goods and services’ (Acha et al. 2004, 507). Suppliers of capital goods are an important sector of the world economy that increases productivity and supports the diffusion of superior technologies (Fauceglia 2015). The main business activities of capital goods companies are the design, manufacture and construction of plant. Typical products include large steam turbines, offshore production facilities, cranes and ships. Individual products may be highly customised to meet individual customer requirements. Normally, the companies also produce spare parts and undertake subcontracting work for other companies using shared manufacturing resources (Hicks 1998; Hicks, Earl, and McGovern 2000).
The Canadian winter road infrastructure in a warming climate: Toward resiliency assessment and resource prioritization
Published in Sustainable and Resilient Infrastructure, 2022
Paul D. Barrette, Yukari Hori, Amy M. Kim
Infrastructures are also classified as either ‘hard’ (physical) and ‘soft’ (organizational/relational)(Dyer et al., 2019). The former includes utilities (e.g. transportation, water, waste, communication), urban space (e.g. streets, plazas, playgrounds) and buildings (single or grouped). The services provided by a hard infrastructure are mainly from the facility itself, e.g. a power generating station provides electricity to consumers. Prud’homme (2005) suggests the following common attributes for hard infrastructures. They are capital goods, as opposed to consumer goods, i.e. fixed assets, used in the production of consumer goods.They are tied to lumpy (as opposed to incremental) costs, e.g. a bridge has to be fully built before it can start to provide services. If the demand exceeds capacity, a major addition, such as retrofitting, is required, following the same principle.They are usually long lasting – their serviceable lifespan typically lasts decades.They are site-specific. A sewer is designed and built for one location, and is not expected to service any other. This is also valid at the network level, i.e. a sewer system is unique to a city.The service they provide is used by the public and the private sectors.
Modelling, analysis and improvement of an integrated chance-constrained model for level of repair analysis and spare parts supply control
Published in International Journal of Production Research, 2020
Weimiao Liu, Kanglin Liu, Tianhu Deng
In this study, we analyse a repair system with a special focus on the maintenance of capital goods, which play a dominant role in the business or production processes. The repairs for capital goods prefer to substitute for the defective parts to eliminate the downtime. Thus it is indispensable to store spare parts at bases. However, programming a repair system and storing spare parts are usually considered separately in practice, resulting in suboptimality. Therefore, we present an integrated LORA and inventory control model under demand, inventory and repair uncertainty.