IDEAS home Printed from https://ideas.repec.org/a/eee/proeco/v140y2012i2p579-585.html
   My bibliography  Save this article

Optimal budget planning for investment in safety measures of a chemical company

Author

Listed:
  • Sato, Yuji

Abstract

The objective of this study was to develop a framework for optimizing budget planning for investment in safety measures in a chemical company. Decision making for strategic investment for safety is complicated due to the intangible factors that enter into both the evaluation and choice of appropriate safety measures, and the individual situation of plants. This study addressed these issues by combining Linear Programing and Analytic Hierarchy Process, showing how to quantify inherent risks within chemical plants and how to optimize budget planning for safety within a chemical company.

Suggested Citation

  • Sato, Yuji, 2012. "Optimal budget planning for investment in safety measures of a chemical company," International Journal of Production Economics, Elsevier, vol. 140(2), pages 579-585.
    • Handle: RePEc:eee:proeco:v:140:y:2012:i:2:p:579-585
    DOI: 10.1016/j.ijpe.2012.05.030
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0925527312002228
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ijpe.2012.05.030?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Vargas, Luis G., 1990. "An overview of the analytic hierarchy process and its applications," European Journal of Operational Research, Elsevier, vol. 48(1), pages 2-8, September.
    2. Yoram Wind & Thomas L. Saaty, 1980. "Marketing Applications of the Analytic Hierarchy Process," Management Science, INFORMS, vol. 26(7), pages 641-658, July.
    3. O'Brien, C. & Smith, S. J. E., 1993. "Design of the decision process for strategic investment in advanced manufacturing systems," International Journal of Production Economics, Elsevier, vol. 30(1), pages 309-322, July.
    4. Saaty, Thomas L., 1994. "Highlights and critical points in the theory and application of the Analytic Hierarchy Process," European Journal of Operational Research, Elsevier, vol. 74(3), pages 426-447, May.
    5. Tan, Kim Hua & Noble, James & Sato, Yuji & Tse, Ying Kei, 2011. "A marginal analysis guided technology evaluation and selection," International Journal of Production Economics, Elsevier, vol. 131(1), pages 15-21, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yongguang Zou & Yuemei He & Weiling Lin & Sha Fang, 2021. "China’s regional public safety efficiency: a data envelopment analysis approach," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 66(2), pages 409-438, April.
    2. Wu, Jiansong & Zhang, Linlin & Bai, Yiping & Reniers, Genserik, 2022. "A safety investment optimization model for power grid enterprises based on System Dynamics and Bayesian network theory," Reliability Engineering and System Safety, Elsevier, vol. 221(C).
    3. Abrahamsen, Eirik Bjorheim & Milazzo, Maria Francesca & Selvik, Jon T. & Asche, Frank & Abrahamsen, HÃ¥kon Bjorheim, 2020. "Prioritising investments in safety measures in the chemical industry by using the Analytic Hierarchy Process," Reliability Engineering and System Safety, Elsevier, vol. 198(C).
    4. Sato, Yuji & Tan, Kim Hua & Tse, Ying Kei, 2015. "An integrated marginal analysis approach for build-to-order products," International Journal of Production Economics, Elsevier, vol. 170(PB), pages 422-428.
    5. Lei Wang & Qing Liu & Tongle Yin, 2018. "Decision-making of investment in navigation safety improving schemes with application of cumulative prospect theory," Journal of Risk and Reliability, , vol. 232(6), pages 710-724, December.
    6. Fan, Di & Lo, Chris K.Y. & Ching, Vincent & Kan, C.W., 2014. "Occupational health and safety issues in operations management: A systematic and citation network analysis review," International Journal of Production Economics, Elsevier, vol. 158(C), pages 334-344.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Abrahamsen, Eirik Bjorheim & Milazzo, Maria Francesca & Selvik, Jon T. & Asche, Frank & Abrahamsen, HÃ¥kon Bjorheim, 2020. "Prioritising investments in safety measures in the chemical industry by using the Analytic Hierarchy Process," Reliability Engineering and System Safety, Elsevier, vol. 198(C).
    2. Dong, Yucheng & Xu, Yinfeng & Li, Hongyi & Dai, Min, 2008. "A comparative study of the numerical scales and the prioritization methods in AHP," European Journal of Operational Research, Elsevier, vol. 186(1), pages 229-242, April.
    3. P Ji & R Jiang, 2003. "Scale transitivity in the AHP," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 54(8), pages 896-905, August.
    4. Banai, Reza, 2010. "Evaluation of land use-transportation systems with the Analytic Network Process," The Journal of Transport and Land Use, Center for Transportation Studies, University of Minnesota, vol. 3(1), pages 85-112.
    5. Lucas, Rochelle Irene & Promentilla, Michael Angelo & Ubando, Aristotle & Tan, Raymond Girard & Aviso, Kathleen & Yu, Krista Danielle, 2017. "An AHP-based evaluation method for teacher training workshop on information and communication technology," Evaluation and Program Planning, Elsevier, vol. 63(C), pages 93-100.
    6. Xu, Z., 2000. "On consistency of the weighted geometric mean complex judgement matrix in AHP," European Journal of Operational Research, Elsevier, vol. 126(3), pages 683-687, November.
    7. Korpela, Jukka & Lehmusvaara, Antti & Tuominen, Markku, 2001. "An analytic approach to supply chain development," International Journal of Production Economics, Elsevier, vol. 71(1-3), pages 145-155, May.
    8. Virginia Racioppi & Gabriella Marcarelli & Massimo Squillante, 2015. "Modelling a sustainable requalification problem by analytic hierarchy process," Quality & Quantity: International Journal of Methodology, Springer, vol. 49(4), pages 1661-1677, July.
    9. Phillips, Jason, 2013. "Determining the sustainability of large-scale photovoltaic solar power plants," Renewable and Sustainable Energy Reviews, Elsevier, vol. 27(C), pages 435-444.
    10. Min, Hokey & Melachrinoudis, Emanuel, 1999. "The relocation of a hybrid manufacturing/distribution facility from supply chain perspectives: a case study," Omega, Elsevier, vol. 27(1), pages 75-85, February.
    11. Korpela, Jukka & Tuominen, Markku, 1996. "Inventory forecasting with a multiple criteria decision tool," International Journal of Production Economics, Elsevier, vol. 45(1-3), pages 159-168, August.
    12. Ferrari, Paolo, 2003. "A method for choosing from among alternative transportation projects," European Journal of Operational Research, Elsevier, vol. 150(1), pages 194-203, October.
    13. Szczypińska, Anna & Piotrowski, Edward W., 2008. "Projective market model approach to AHP decision making," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 387(15), pages 3982-3986.
    14. V. Chowdary & D. Chakraborthy & A. Jeyaram & Y. Murthy & J. Sharma & V. Dadhwal, 2013. "Multi-Criteria Decision Making Approach for Watershed Prioritization Using Analytic Hierarchy Process Technique and GIS," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 27(10), pages 3555-3571, August.
    15. Elena Carrara & Rebecca Ciavarella & Stefania Boglietti & Martina Carra & Giulio Maternini & Benedetto Barabino, 2021. "Identifying and Selecting Key Sustainable Parameters for the Monitoring of e-Powered Micro Personal Mobility Vehicles. Evidence from Italy," Sustainability, MDPI, vol. 13(16), pages 1-22, August.
    16. A Ishizaka & D Balkenborg & T Kaplan, 2011. "Influence of aggregation and measurement scale on ranking a compromise alternative in AHP," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 62(4), pages 700-710, April.
    17. Pedro Linares & Sara Lumbreras & Alberto Santamaría & Andrea Veiga, 2016. "How relevant is the lack of reciprocity in pairwise comparisons? An experiment with AHP," Annals of Operations Research, Springer, vol. 245(1), pages 227-244, October.
    18. Korpela, Jukka & Kylaheiko, Kalevi & Lehmusvaara, Antti & Tuominen, Markku, 2002. "An analytic approach to production capacity allocation and supply chain design," International Journal of Production Economics, Elsevier, vol. 78(2), pages 187-195, July.
    19. Badreya Gharib Khamis Mohammed Alblooshi & Syed Zamberi Ahmad & Matloub Hussain & Sanjay Kumar Singh, 2022. "Sustainable management of electronic waste: Empirical evidences from a stakeholders' perspective," Business Strategy and the Environment, Wiley Blackwell, vol. 31(4), pages 1856-1874, May.
    20. Sadeghi, Mehdi & Ameli, Ahmad, 2012. "An AHP decision making model for optimal allocation of energy subsidy among socio-economic subsectors in Iran," Energy Policy, Elsevier, vol. 45(C), pages 24-32.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:proeco:v:140:y:2012:i:2:p:579-585. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ijpe .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.