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This paper recommends a method entitled “SMED 4.0” as a development of conventional single minute exchange of die (SMED) to avoid defect occurrence during production and improve sustainability, besides reducing setup time.

The method builds upon an extensive literature review and in-depth explorative research in SMED and zero defect manufacturing (ZDM). SMED 4.0 incorporates an evolutionary stage that employs predict-prevent strategies using Industry 4.0 technologies including the Internet of Things (IoT) and machine learning (ML) algorithms.

It presents the applicability of the proposed approach in (1) identifying the triple bottom line (TBL) criteria, which are affected by defects; (2) predicting the time of defect occurrence if any; (3) preventing defective products by performing online setting on machines during production as needed; (4) maintaining the desired quality of the product during the production and (5) improving TBL sustainability in manufacturing processes.

The extended view of SMED 4.0 in this research, as well as its analytical approach, helps practitioners develop their SMED approaches in a more holistic way. The practical application of SMED 4.0 is illustrated by implementing it in a real-life manufacturing case.

This study aims to characterize the mechanical properties of sintered nano-silver under various sintering processes by nano-indentation tests.

Through microstructure observations and characterization, the influences of sintering process on the microstructure evolutions of sintered nano-silver were presented. And, the indentation load, indentation displacement curves of sintered silver under various sintering processes were measured by using nano-indentation test. Based on the nano-indentation test, a reverse analysis of the finite element calculation was used to determine the yielding stress and hardening exponent.

The porosity decreases with the increase of the sintering temperature, while the average particle size of sintered nano-silver increases with the increase of sintering temperature and sintering time. In addition, the porosity reduced from 34.88%, 30.52%, to 25.04% if the ramp rate was decreased from 25°C/min, 15°C/min, to 5°C/min, respectively. The particle size appears more frequently within 1 µm and 2 µm under the lower ramp rate. With reverse analysis, the strain hardening exponent gradually heightened with the increase of temperature, while the yielding stress value decreased significantly with the increase of temperature. When the sintering time increased, the strain hardening exponent increased slightly.

The mechanical properties of sintered nano-silver under different sintering processes are clearly understood.

This paper could provide a novel perspective on understanding the sintering process effects on the mechanical properties of sintered nano-silver.

This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these challenges, providing insights into healthcare investments, policy analysis and patient care pathways.

This research employs the real options theory, a financial concept, to delve into health economics challenges. Through a systematic approach, three distinct models rooted in this theory are crafted and analyzed. Firstly, the study examines the value of investing in emerging health technology, factoring in future advantages, associated costs and unpredictability. The second model is patient-centric, evaluating the choice between immediate treatment switch and waiting for more clarity, while also weighing the associated risks. Lastly, the research assesses pandemic-related government policies, emphasizing the importance of delaying decisions in the face of uncertainties, thereby promoting data-driven policymaking.

Three different real options models are presented in this study to illustrate their applicability and value in aiding decision-makers. (1) The first evaluates investments in new technology, analyzing future benefits, discount rates and benefit volatility to determine investment value. (2) In the second model, a patient has the option of switching treatments now or waiting for more information before optimally switching treatments. However, waiting has its risks, such as disease progression. By modeling the potential benefits and risks of both options, and factoring in the time value, this model aids doctors and patients in making informed decisions based on a quantified assessment of potential outcomes. (3) The third model concerns pandemic policy: governments can end or prolong lockdowns. While awaiting more data on the virus might lead to economic and societal strain, the model emphasizes the economic value of deferring decisions under uncertainty.

This research provides a quantified perspective on various decisions in healthcare, from investments in new technology to treatment choices for patients to government decisions regarding pandemics. By applying real options theory, stakeholders can make more evidence-driven decisions.

Decisions about patient care pathways and pandemic policies have direct societal implications. For instance, choices regarding the prolongation or ending of lockdowns can lead to economic and societal strain.

The originality of this study lies in its application of real options theory, a concept from finance, to the realm of health economics, offering novel insights and analytical tools for decision-makers in the healthcare sector.