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United States Patent Application Publication - Predictive Cost Reduction Based on a Thermodynamic Model

Author

Listed:
  • Michael Louis George

    (Institute of Business Entropy)

Abstract

Predictive cost reduction based on a thermodynamic model, in which parameters associated with a process are accessed. The parameters include a quantity of units of work-in-process at first and second times, and first and second constants respectively indicative of growth between the first and second times, and of a translated reduction of the work-in-process to a reduction of cost. A thermodynamic model is applied to the accessed parameters, and a predictive cost reduction associated with an improvement of the process based on applying the thermodynamic model is output.

Suggested Citation

  • Michael Louis George, 2007. "United States Patent Application Publication - Predictive Cost Reduction Based on a Thermodynamic Model," Working Papers 0608, Institute of Business Entropy.
    • Handle: RePEc:geg:wpaper:0608
    as

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    File URL: ftp://ibe.hostedftp.com/~ibe/econ/RePEc/PDF/US%20Patent%20Application%20-%20Predictive%20Cost%20Reduction.pdf
    File Function: First version, 2011
    Download Restriction: no
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    More about this item

    Keywords

    Profit Increase Prediction; Process Entropy; Information; Complexity; Waste; Equation of Profit; Little’s Law; Business Analogies with Thermodynamics; Boltzmann’s Constant of Business; Carnot; Shannon;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods

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