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Formula for Manufacturing Profit increase based on 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, 2011. "Formula for Manufacturing Profit increase based on Thermodynamic Model," Working Papers 0620, Institute of Business Entropy.
    • Handle: RePEc:geg:wpaper:0620
    as

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    More about this item

    Keywords

    Equation of Projected Cost Reduction; Process Entropy; Information; Complexity; Waste; Little’s Law; Shannon; Boltzmann; Carnot;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • L6 - Industrial Organization - - Industry Studies: Manufacturing
    • L7 - Industrial Organization - - Industry Studies: Primary Products and Construction
    • L8 - Industrial Organization - - Industry Studies: Services
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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