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Sensitivity Analysis for Sawing Cost Model Evaluation. A Review on an Iranian Stone Factory

Author

Listed:
  • Reza Mikaeil
  • Hojjat Hosseinzadeh Gharehgheshlagh
  • Mohammad Ataei
  • Babak Sohrabian

Abstract

Stone sawing industry is among the most important mineral industries in Iran. Therefore, special attention to this sector can result in economic growth by providing a healthy condition in competition with other countries. Two important factors, which affect the world market's competition, are the cost operation and the quality of the processed stone. Providing economic advantage by lowering the cost without causing any defect in the quality of the stone is the key point in the industry. Therefore, in this research, an economic evaluation was carried out on the sawing process of a hard stone and a cost model including all cost factors was developed. Then, in order to determine the most effective cost factors, sensitivity analysis was performed on the proposed model. The results of this study showed that diamond disk and energy cost are respectively the most important factors in the operation.

Suggested Citation

  • Reza Mikaeil & Hojjat Hosseinzadeh Gharehgheshlagh & Mohammad Ataei & Babak Sohrabian, 2020. "Sensitivity Analysis for Sawing Cost Model Evaluation. A Review on an Iranian Stone Factory," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 6(3), pages 59-65, September.
    • Handle: RePEc:khe:scajes:v:6:y:2020:i:3:p:59-65
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    References listed on IDEAS

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    1. Reza Mikaeil & Mohammad Ataei & Reza Yousefi, 2011. "Evaluating the Power Consumption in Carbonate Rock Sawing Process by Using FDAHP and TOPSIS Techniques," Chapters, in: Chiang Jao (ed.), Efficient Decision Support Systems - Practice and Challenges in Multidisciplinary Domains, IntechOpen.
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      More about this item

      Keywords

      Stone Sawing; Cost Model; Sensitivity Analysis; Diamond Disk Cost; Cost of Energy;
      All these keywords.

      JEL classification:

      • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation

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