Department Chair

Theodore F. Byrley, Ph.D., Chair and Associate Professor of Economics and Finance

Date of Award

8-2013

Access Control

Open Access

Degree Name

Applied Economics, M.A.

Department

Economics and Finance Department

Advisor

Frederick G. Floss, Ph.D., Professor of Economics & Finance

Department Home page

http://economics.buffalostate.edu/

First Reader

Theodore F. Byrley, Ph.D., Chair and Associate Professor of Economics and Finance

Second Reader

John L. Wilcox, Ph.D., Lecturer of Economics & Finance

Abstract

The objective of the study is analyzing the optimality of industrial machines over time to explore causes of variation in the machines’ performance. The accurate estimation of machine efficiency is very important in capital-intensive industry. This study selected various productions units, labor hours per pound, product mix and shifts to analyze the variations in machine production.

This paper outlines methodology using statistical quality control methods, cluster analysis and econometrics to process and analyze the data. It then presents performance results of industrial machines and makes recommendations for future improvement of these machines. The firm that was analyzed is ideally positioned with about 6,300 employees at production sites in Europe, the USA and China. It is one of the foremost integrated groups with a leading position in recycling.

The data in this study are from a large North American manufacturing firm. These data are proprietary. The name and location of the firm, along with the exact subsector, are deliberately kept vague to protect the firm’s property and patent right.

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