The construction process is inherently prone to risks. Risk management is an essential and integral part of project management on all construction projects. Risk analysis is one of the core components of risk management that enables professionals to quantify and analyze risks that may pose potential threats to project performance in terms of various parameters. This research was conducted to identify and analyze risks associated with residential construction in Bangalore. In this study, risk and its impact on time and cost was identified and analyzed. Schedule impacts of project risks were supplemented by conducting quantitative risk analysis such as Monte Carlo simulation and sensitivity analysis using the Primavera risk analysis software. In case of cost, the cost variance was found out and mitigation measures were given. Thus, by effectively managing the risks, organization has more timely, comprehensive and deeper understanding of risks which in turn facilitates better decision making and confidence to take on new ventures or even to accept higher level of risk.

The problem of thermoelastic nanoscale beam based on a modified couple stress theory with diffusion subjected to ramp type heating is investigated. The Laplace transform technique and eigen value approach are applied to solve the equations which are written in the dimensionless form. The expressions for displacement, lateral deflection, temperature change, mass concentration, axial stress and chemical potential are derived in the transformed domain. A general algorithm of the inverse Laplace transform is developed to compute the results numerically. The mathematical model is prepared for Copper material. The resulting quantities are depicted graphically to show the effects of time. Some particular cases of interest are also deduced from the present problem.

This paper is an attempt to examine the implementation of Lean Manufacturing system in the Indian industries. Predominant elements of Lean Manufacturing, benefits gained after its implementation and obstacles observed by Indian Industry have been recognized. The results of this survey support the opinion that Lean Manufacturing had potential to improve the organizational performance of Indian industries. Nevertheless, Indian industries are required to be passionate to transform their manufacturing by adopting Lean manufacturing to gain the full benefits. A large numbers of literature papers are available on the better side of Lean manufacturing approach and its benefits gained by manufacturing organizations after implementation. But the adverse impacts of Lean manufacturing are not discussed to a great extent. Some drawbacks of Lean manufacturing are also highlighted in this paper.

Deterioration of items is a phenomenon which cannot be neglected as it may provide absurd result. In high-tech business market, deterioration is not always constant but it is time dependent. This paper presents inventory model for time dependent deterioration and time dependent demand under shortages. The mathematical model is provided to optimize the cycle time by minimizing the total cost. Numerical results are discussed to validate the proposed model. The variation of the optimal solution for different parameters is discussed for some instances.

Supplier evaluation and selection play a vital role in establishing an effective supply chain for any firm. The supplier evaluation not only enables the firm to know the performance of suppliers, but also gives an indication of the ability of the firm itself to gain competitive advantage. The appropriate evaluation is the basis for the subsequent selection of the best supplier. This paper presents a hybrid methodology using Data Envelopment Analysis (DEA), Analytic Hierarchy Process (AHP) and Grey Relational Analysis (GRA) to evaluate suppliers and to identify the best supplier for a firm. In this work, super efficiency and cross efficiency methods of DEA are employed to determine the efficiencies and the performance scores of the suppliers respectively. On the basis of super efficiency and cross efficiency scores, the list of efficient suppliers with high performance is identified and GRA methodology is adopted to identify the best supplier. A case study is presented to demonstrate the proposed hybrid methodology.

he VIKOR (Vlse Kriterijumska Optimizacija Kompromisno Resenje which means multi-criteria optimization and compromise solution, in Serbian) method has already become a quite popular multi-criteria decision making tool for its computational simplicity and solution accuracy. This method focuses on selecting and ranking from a set of feasible alternatives, and determines compromise solution for a problem with conflicting criteria to help the decision maker in reaching a final course of action. It determines the compromise ranking list based on the particular measure of closeness to the ideal solution. Depending upon the type of decision problem and necessity of the decision maker, apart from VIKOR method, different variants of it, like comprehensive VIKOR, fuzzy VIKOR, regret theory-based VIKOR, modified VIKOR and interval VIKOR methods have also been subsequently developed. In this paper, the ranking performance of original VIKOR method and its five variants is analyzed based on two demonstrative examples. It is observed that interval VIKOR method performs unsatisfactorily and when the information in a decision problem is imprecise, fuzzy VIKOR method should always be preferred. But, for any decision problem, original VIKOR is the best method for solution without unnecessarily complicating the related mathematical computations.

In the present work, a multi-response optimization method is used to optimize the machining parameters in turning of glass fiber reinforced polymer (GFRP) composites. Parameters like spindle speed (N), feed rate (f) and depth of cut (d) are taken to obtain the responses such as surface roughness (Ra) and material removal rate (MRR). Taguchi’s L9 orthogonal array has been used for machining the work-piece. Analysis of variance (ANOVA) has been carried out to check the significant process parameter in a single objective performance characteristic. The multiple performance characteristics have been analysed using Grey relational analysis and an appreciable result has been reported with this approach.

The objective of this paper is to develop an integrated production inventory model for reworkable items with exponential demand rate. This is a three-layer supply chain model with perspectives of supplier, producer and retailer. Supplier delivers raw material to the producer and finished goods to the retailer. We consider perfect and imperfect quality products, product reliability and reworking of imperfect items. After screening, defective items reworked at a cost just after the regular manufacturing schedule. At the beginning, the manufacturing system starts produce perfect items, after some time the manufacturing system can undergo into “out-of-control” situation from “in-control” situation, which is controlled by reverse logistic technique. This paper deliberates the effects of business strategies like optimum order size of raw material, exponential demand rate, production rate is demand dependent, idle times and reverse logistics for an integrated marketing system. Mathematica is used to develop the optimal solution of production rate and raw material order for maximum expected average profit. A numerical example and sensitivity analysis is illustrated to validate the model.

This paper derives a production inventory model over infinite planning horizon with flexible but unreliable manufacturing process and the stochastic repair time. Demand is stock dependent and during the period of sale it depends on reduction on selling price. Production rate is a function of demand and reliability of the production equipment is assumed to be exponentially decreasing function of time. Repair time is estimated using uniform probability density function. The objective of the study is to determine the optimal policy for production system, which maximizes the total profit subject to some constraints under consideration. The results are discussed with a numerical example to illustrate the theory.

Machining of hardened work materials with appropriate levels of process parameters is still a burning issue in manufacturing sectors and challenging. It is because of pressing demand of surface quality which adversely affected by evolution of tool wear. Therefore the present investigation is undertaken to make a decision on parametric optimization of multi-responses such as flank wear and surface roughness during machining hardened AISI 52100 steel (55±1) steel using mixed ceramic insert under dry environment through grey relational analysis combined with Taguchi approach. Also predicted mathematical models of 1st and 2nd order have been developed for responses and checked for its accuracy. Second order mathematical model presented higher R2 value and represents best fit of the model and adequate compared to first order model. Model indicates good correlations between the experimental and predicted results. The proposed grey-based Taguchi methodology has been proved to be efficient for solving multi-attribute decision making problem as a case study in hard machining environment.