Search results
Results from the WOW.Com Content Network
Function cost analysis (FСА) (sometimes called function value analysis (FVA)) is a method of technical and economic research of the systems for purpose to optimize a parity between system's (as product or service) consumer functions or properties (also known as value) and expenses to achieve those functions or properties.
Process costing is usually a significant chapter. It is a method of assigning costs to units of production in companies producing large quantities of homogeneous products. Process costing is a type of operation costing which is used to ascertain the cost of a product at each process or stage of manufacture.
The industrial process or operation can be optimized using a variety of available methods. Each method design has its advantages and disadvantages. The best overall method is chosen using selection criteria and concepts involving value engineering, cost-benefit analysis, crossover charts, and economic analysis. The outcome of the selection ...
Value engineering (VE) is a systematic method to improve the "value" of goods and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be preserved ...
The cost function is often defined as a sum of the deviations of key measurements, like altitude or process temperature, from their desired values. The algorithm thus finds those controller settings that minimize undesired deviations. The magnitude of the control action itself may also be included in the cost function.
In manufacturing, the purpose of scheduling is to keep due dates of customers and then minimize the production time and costs, by telling a production facility when to make, with which staff, and on which equipment. Production scheduling aims to maximize the efficiency of the operation, utilize maximum resources available and reduce costs.
Cost function. In economics, the cost curve, expressing production costs in terms of the amount produced. In mathematical optimization, the loss function, ...
The function f is variously called an objective function, criterion function, loss function, cost function (minimization), [8] utility function or fitness function (maximization), or, in certain fields, an energy function or energy functional. A feasible solution that minimizes (or maximizes) the objective function is called an optimal solution.