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The direct data-driven methods allow to tune a controller, belonging to a given class, without the need of an identified model of the system. In this way, one can also simply weight process dynamics of interest inside the control cost function, and exclude those dynamics that are out of interest.
A value stream is the set of actions that take place to add value to a customer from the initial request through realization of value by the customer. The value stream begins with the initial concept, moves through various stages of development and on through delivery and support. A value stream always begins and ends with a customer.
The definition of a closed loop control system according to the British Standards Institution is "a control system possessing monitoring feedback, the deviation signal formed as a result of this feedback being used to control the action of a final control element in such a way as to tend to reduce the deviation to zero." [2]
Tuning a control loop is the adjustment of its control parameters (proportional band/gain, integral gain/reset, derivative gain/rate) to the optimum values for the desired control response. Stability (no unbounded oscillation) is a basic requirement, but beyond that, different systems have different behavior, different applications have ...
Performance-based contracting (PBC) or results-based contracting, is a procurement strategy used to achieve measurable supplier performance. A PBC approach focuses on developing strategic performance metrics and directly relating contracting payment to performance against these metrics.
Image source: The Motley Fool. BJ's Wholesale Club (NYSE: BJ) Q4 2024 Earnings Call Mar 06, 2025, 8:30 a.m. ET. Contents: Prepared Remarks. Questions and Answers. Call Participants
The state of a deterministic system, which is the set of values of all the system's state variables (those variables characterized by dynamic equations), completely describes the system at any given time. In particular, no information on the past of a system is needed to help in predicting the future, if the states at the present time are known ...
Image source: The Motley Fool. Full Truck Alliance (NYSE: YMM) Q4 2024 Earnings Call Mar 05, 2025, 7:00 a.m. ET. Contents: Prepared Remarks. Questions and Answers. Call Participants