Browsing by Author "Oyedokun, I. O."

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Development and application of an inflation-based productivity model
(Akamai University, Hilo, Hawaii, 2007-11) Oke, S. A.; Oyedokun, I. O.; Akanbi, O. G.; Oyawale, F. A.
The paper presents a productivity model with an inflation component based on an established productivity measurement theory. The motivation for writing this paper is the need for conflict resolution at the implementation of productivity incentive programs. A common complaint from trade unions and organizations is that productivity is inaccurately assessed when the traditional input-output approach is utilized. The support for this argument is that a general rise in prices of materials utilized for production activities, without corresponding added values to the materials takes away the work group productivity efforts. This does not reveal the true measure of productivity. From the results obtained, there is a significant difference between the values obtained when the traditional productivity formula is used to compute the performance of a work group compared with the formula proposed in this work. This may be a strong point and a justification for the trade union argument. The limitation of the study is the difficulty that exists in monitoring the inflation values of the multiple products utilized as inputs into the production activities. For computational activities, a factor is chosen. The novelty of the model could be traced to the fact that it is the first time that such an approach and a systematic analysis would be made through the incorporation of the inflation factor into the productivity models.
Development of a performance measurement system for manufacturing systems
(Inderscience Enterprise Limited, 2008) Oke, S. A.; Oyedokun, I. O.; Akanbi, O. G.; Oyawale, F. A.
Taylor and Davis total productivity model has significant advantage over the traditional and more commonly used productivity models - its holistic nature. The model incorporates elements of net sales, inventory changes, wages and salary, investor's contribution, working and fixed capital. This paper presents a unique approach in the determination of the total factor productivity for a manufacturing organisation. This study is motivated by the dearth of models comprehensive enough to cover the major aspects of business apart from the usual input-output approach of productivity analysis which is limited to the output items and material/non-material resources. The results obtained clearly demonstrate the feasibility of applying Lagrange multiplier in optimising the variables and parameters of the model. The research has implications for decision making in several dimensions primarily it aids the utilisation of optimal solutions in arriving at decisions. This would avoid suboptimal decision making and promotes implementation of optimal decisions. This study is new, in that, it presents an enhanced version of a model that has been available to researchers several years back.
An inflation-based maintenance profitability model
(Inderscience Enterprise Limited, 2008) Oke, S. A.; Oyedokun, I. O.; Akanbi, O. G.; Oyawale, F. A.
The maintenance profitability problem is an important but emerging concept of maintenance performance measurement that views the maintenance function as a value adding subsection of the organisation. The service provided by the maintenance system to production is charged as a price, which results in the monetary contribution of the maintenance department to the organisation. In the same way, as production would add financial benefits to the organisation the maintenance system is portrayed as adding profit to the organisation. In this work, we present a mathematical model that calculates the maintenance profitability of an organisation under the condition of inflation using a composite mathematical function. It is concluded that viewing maintenance from a profit-making orientation provides a challenge to the maintenance team, thus driving them towards improved performance.
A model for tracking temperature variation in cold and, hot metal working conditions during machining operations
(Springer International Publishing, 2010-01) Oke, S.A.; Oyedokun, I. O.; Momodu, O. S.; Akanbi, O. G.; Oyawale, F. A.
This paper presents a mathematical model that could assist in measuring, monitoring and controlling temperature variation in cold and 'red-hot' metal working conditions of machining. A numerical analysis technique of the temperature distribution, based on the theory of complex applied potential, was carried out using the principles of relationship analysis between the paths of heat supply in Cartesian plane when the heat path supplied to the material is orthogonal. The high level of temperature involved may effectively be predicted if a mathematical relationship that predicts the pattern of temperature distribution in a material is available. A case study example in a machine workshop is given. Simulation experiments are then carried out using Monte Carlo to increase the confidence in decision-making and provide data for significance testing. This was used as an input for testing for significance. Sensitivity analyses were also carried out in order to observe the degree of responsiveness of model parameters to changes in value. In all, five pairs of comparison were carried out among different workpiece materials. There are significant differences between workpiece materials made of steel and copper, copper and zinc, copper and aluminum. However, no significant differences exist in the model behavior of steel and aluminum, steel and zinc. It was observed that parameters are highly sensitive to changes in value. The framework could possibly be applied to milling and surfacing activities in the engineering workshop. This contribution may be helpful to small-scale enterprises that could not afford sophisticated and very expensive facilities.