Dynamics Of Long Life Assets

This book is published under a CC BY-NC 4.0 license. The editors present essential methods and tools to support a holistic approach to the challenge of system upgrades and innovation in the context of high-value products and services. The approach presented here is based on three main pillars: an adaptation mechanism based on a broad understanding of system dependencies; efficient use of system knowledge through involvement of actors throughout the process; and technological solutions to enable efficient actor communication and information handling. The book provides readers with a better understanding of the factors that influence decisions, and put forward solutions to facilitate the rapid adaptation to changes in the business environment and customer needs through intelligent upgrade interventions. Further, it examines a number of sample cases from various contexts including car manufacturing, utilities, shipping and the furniture industry. The book offers a valuable resource for both academics and practitioners interested in the upgrading of capital-intensive products and services. “The work performed in the project “Use-It-Wisely (UiW)” significantly contributes towards a collaborative way of working. Moreover, it offers comprehensive system modelling to identify business opportunities and develop technical solutions within industrial value networks. The developed UiW-framework fills a void and offers a great opportunity. The naval construction sector of small passenger vessels, for instance, is one industry that can benefit.” Nikitas Nikitakos, Professor at University of the Aegean, Department of Shipping, Trade, and Transport, Greece. “Long-life assets are crucial for both the future competiveness and sustainability of society. Make wrong choices now and you are locked into a wrong system for a long time. Make the right choices now and society can prosper. This book gives important information about how manufacturers can make right choices.” Arnold Tukker, Scientific director, Institute of Environmental Sciences (CML), Leiden University, and senior scientist, TNO.

The models of portfolio selection and asset price dynamics in this volume seek to explain the market dynamics of asset prices. Presenting a range of analytical, empirical, and numerical techniques as well as several different modeling approaches, the authors depict the state of debate on the market selection hypothesis. By explicitly assuming the heterogeneity of investors, they present models that are descriptive and normative as well, making the volume useful for both finance theorists and financial practitioners. * Explains the market dynamics of asset prices, offering insights about asset management approaches * Assumes a heterogeneity of investors that yields descriptive and normative models of portfolio selections and asset pricing dynamics

This book applies traditional reliability engineering methods to prognostics and health management (PHM), looking at remaining useful life (RUL) and its dynamics, to enable engineers to effectively and accurately predict machinery and systems useful lifespan. One of the key tools used in defining and implementing predictive maintenance policies is the RUL indicator. However, it is essential to account for the uncertainty inherent to the RUL, as otherwise predictive maintenance strategies can be incorrect. This can cause high costs or, alternatively, inappropriate decisions. Methods used to estimate RUL are numerous and diverse and, broadly speaking, fall into three categories: model-based, data-driven, or hybrid, which uses both. The author starts by building on established theory and looks at traditional reliability engineering methods through their relation to PHM requirements and presents the concept of RUL loss rate. Following on from this, the author presents an innovative general method for defining a nonlinear transformation enabling the mean residual life to become a linear function of time. He applies this method to frequently encountered time-to-failure distributions, such as Weibull and gamma, and degradation processes. Latest research results, including the author’s (some of which were previously unpublished), are drawn upon and combined with very classical work. Statistical estimation techniques are then presented to estimate RUL from field data, and risk-based methods for maintenance optimization are described, including the use of RUL dynamics for predictive maintenance. The book ends with suggestions for future research, including links with machine learning and deep learning. The theory is illustrated by industrial examples. Each chapter is followed by a series of exercises. FEATURES Provides both practical and theoretical background of RUL Describes how the uncertainty of RUL can be related to RUL loss rate Provides new insights into time-to-failure distributions Offers tools for predictive maintenance This book will be of interest to engineers, researchers and students in reliability engineering, prognostics and health management, and maintenance management.

Since 2007, the biennial International Conferences on Dynamics in Logistics (LDIC) offers researchersand practitioners from logistics, operations research, production, industrial and electrical engineering aswell as from computer science an opportunity to meet and to discuss the latest developments in thisparticular research domain. From February 23th to 25th 2022 for the eighth time, LDIC 2022 was held inBremen, Germany. Similar to its seven predecessors, the Bremen Research Cluster for Dynamics inLogistics (LogDynamics) organized this conference. The spectrum of topics reaches from the dynamicmodeling, planning and control of processes over supply chain management and maritime logistics toinnovative technologies and robotic applications for cyber-physical production and logistics systems.LDIC 2022 provided a forum for the discussion of advances in that matter. The conference programconsisted of keynote speeches and research papers selected by a severe double-blind reviewing process.Within these proceedings all the papers are published. By this, the proceedings give an interdisciplinaryoutline on the state of the art of dynamics in logistics as well as identify challenges and solutions forlogistics today and tomorrow.

This text represents state-of-the-art trends and developments in the emerging field of engineering asset management as presented at the Sixth World Congress on Engineering Asset Management (WCEAM) held in Cincinnati, OH, USA from October 3-5, 2011 The Proceedings of the WCEAM 2011 is an excellent reference for practitioners, researchers and students in the multidisciplinary field of asset management, covering topics such as: Asset condition monitoring and intelligent maintenance; Asset data warehousing, data mining and fusion; Asset performance and level-of-service models; Design and lifecycle integrity of physical assets; Deterioration and preservation models for assets; Education and training in asset management; Engineering standards in asset management; Fault diagnosis and prognostics; Financial analysis methods for physical assets; Human dimensions in integrated asset management; Information quality management; Information systems and knowledge management; Intelligent maintenance; Intelligent sensors and devices; Maintenance strategies in asset management; Optimization decisions in asset management; Prognostics & Health Management; Risk management in asset management; Strategic asset management; and Sustainability in asset management.

This book discusses the latest advances in people-centered design, operation, and management of broadly defined advanced manufacturing systems and processes. It reports on human factors issues related to various research areas such as intelligent manufacturing technologies, web-based manufacturing services, digital manufacturing worlds, and manufacturing knowledge support systems, as well as other contemporary manufacturing environments. The book covers an extensive range of applications of human factors in the manufacturing industry: from work design, supply chains, evaluation of work systems, and social and organization design, to manufacturing systems, simulation and visualization, automation in manufacturing, and many others. Special emphasis is given to computer aided manufacturing technologies supporting enterprises, both in general and in the manufacturing industry in particular, such as knowledge-based systems, virtual reality, artificial intelligence methods, and many more. Based on the AHFE 2017 International Conference on Human Aspects of Advanced Manufacturing, held on July 17-21, 2017, in Los Angeles, California, USA, the book provides readers with a timely snapshot of the enterprises of the future and a set of cutting-edge technologies and methods for building innovative, human-centered, and computer-integrated manufacturing systems.

The offsite and modular market is continuing to grow. This book builds on the success of a number of initiatives, including formative findings from literature, research and development and practice-based evidence (success stories). It presents new thinking and direction from leading experts in the fields of: design, process, construction, engineering, manufacturing, logistics, robotics, delivery platforms, business and transformational strategies, change management, legislation, organisational learning, software design, innovation and biomimetics. This book is particularly novel and timely, as it brings together a number of cogent subjects under one collective ‘umbrella’. Each of these chapters contain original findings, all of which culminate in three 'Key Learning Points' which provide new insight into the cross-cutting themes, interrelationships and symbiotic forces that exist between each of these chapters. This approach also provides readers with new contextualised understanding of the wider issues affecting the offsite market, from the need to embrace societal challenges, through to the development of rich value-laden solutions required for creating sector resilience. Content includes a balance between case studies and practice-based work, through to technical topics, theoretical propositions, pioneering research and future offsite opportunities ready for exploitation. This work includes: stakeholder integration, skills acquisition, new business models and processes, circularity and sustainable business strategies, robotics and automation, innovation and change, lean production methodologies and new construction methods, Design for Manufacturing and Assembly, scaled portfolio platforms and customisability, new legal regulatory standards and conformance issues and offsite feasibility scenario development/integration.

Human Factors, Business Management and Society Proceedings of the 13th International Conference on Applied Human Factors and Ergonomics (AHFE 2022), July 24–28, 2022, New York, USA