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Article
Publication date: 7 March 2016

Sreedhar Karunakaran

The purpose of this paper is to eliminate the wastes and inefficient procedures in the maintenance organization of aircraft so as to reduce its downtime and increase…

Abstract

Purpose

The purpose of this paper is to eliminate the wastes and inefficient procedures in the maintenance organization of aircraft so as to reduce its downtime and increase mission availability.

Design/methodology/approach

Customized lean Six Sigma (LSS) was applied at the task level and servicing cycle level to reduce the task content, cycle length and resources in servicing. The loading of the servicing facility was simulated through a simulation program developed from a statistical analysis of historical data for validating/simulating/determining optimum loading of servicing facility with refined tasks, reduced cycle length and resources. In simulation, the optimum combination of manpower, resources and infrastructure at the facility level was determined through sensitive analysis and design of experiments (DoE).

Findings

Optimization at the task level and its re-organization at the servicing cycle level reduced the cycle length by 55-68 per cent and manpower resources by 26 per cent. This further reduced facility-level manpower by 25 to 40 per cent, capacity requirements by more than 33 per cent and annual aircraft downtime by 78 per cent. The approach reduced the average number of aircraft undergoing servicing at each airbase at any time from 2.35 to just 0.76 and increased the mission availability to 20 per cent.

Originality/value

The hallmark of the paper has been the design of LSS approach from structured historical data and its validation through innovative simulation. The multi-pronged bottom-up approach practically bundles all wastes resident in the maintenance organization. The paper provides cursory approach to lean practitioners in the elimination of wastes in the maintenance of capital assets like aircraft.

Details

International Journal of Lean Six Sigma, vol. 7 no. 1
Type: Research Article
ISSN: 2040-4166

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Article
Publication date: 1 May 1950

RECENTLY, through the courtesy of the Royal Air Force, we were privileged to make a tour of some of the aerodromes and bases in the Middle East. It is not perhaps…

Abstract

RECENTLY, through the courtesy of the Royal Air Force, we were privileged to make a tour of some of the aerodromes and bases in the Middle East. It is not perhaps generally realized that the Middle East Air Force differs from Commands in the United Kingdom in that its technical organization is modelled on the lines of a self‐contained air force.

Details

Aircraft Engineering and Aerospace Technology, vol. 22 no. 5
Type: Research Article
ISSN: 0002-2667

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Article
Publication date: 1 January 1950

THIS article is an attempt to explain the way in which the actual servicing schedules now used by the Royal Air Force are evolved and also to give an outline of the…

Abstract

THIS article is an attempt to explain the way in which the actual servicing schedules now used by the Royal Air Force are evolved and also to give an outline of the organization necessary for this work. The whole field of R.A.F. planned flying and planned maintenance has already been very effectively covered by S/Ldr Harrop's paper and this present article contains a more detailed account of some of the practical problems involved in the one aspect of the production of schedules.

Details

Aircraft Engineering and Aerospace Technology, vol. 22 no. 1
Type: Research Article
ISSN: 0002-2667

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Article
Publication date: 1 January 1981

W. Baumann, R. Birner, J. Haeusler and R.‐P. Hartmann

When several machine tools are serviced by one industrial robot their idle times should be kept as short as possible. In this paper, a deterministic model is developed to…

Abstract

When several machine tools are serviced by one industrial robot their idle times should be kept as short as possible. In this paper, a deterministic model is developed to optimise the idle time, including the possibility of machine breakdowns.

Details

Industrial Robot: An International Journal, vol. 8 no. 1
Type: Research Article
ISSN: 0143-991X

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Article
Publication date: 1 April 1989

Steven O. Kimbrough

Presents a case study of a financial services company socializingin student loans. Positions the study in terms of ′sustainablecompetitive advantage′, ′strategic…

Abstract

Presents a case study of a financial services company socializing in student loans. Positions the study in terms of ′sustainable competitive advantage′, ′strategic necessity′ and ′edge toward the market′ hypotheses. Concludes that information systems played ′an essential but essentially derivative role′ in the success of the enterprise.

Details

Office Technology and People, vol. 5 no. 4
Type: Research Article
ISSN: 0167-5710

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Article
Publication date: 1 January 1990

Rick Roscitt and I. Robert Parket

Considers the need imposed by increased competition formanufacturers to move from a traditional, reactive service approachbased on routine maintenance programmes towards a…

Abstract

Considers the need imposed by increased competition for manufacturers to move from a traditional, reactive service approach based on routine maintenance programmes towards a more strategic customer servicing philosophy based on strategic service management. Argues for a complete management audit of company service policies in order to implement a company‐wide service culture. Concludes that the implementation of a service mission developing all relevant factors can enable manufacturers themselves to out‐perform third‐party organizations, thus maximizing opportunities offered in the expanding industrial and business service market.

Details

Journal of Business & Industrial Marketing, vol. 5 no. 1
Type: Research Article
ISSN: 0885-8624

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Article
Publication date: 17 August 2010

Anne Zissu, Carlos Ortiz and Charles Stone

The aim of this paper is to develop the optimal delta hedge for a portfolio of mortgage servicing rights (MSR) under the constraint of a zero‐gamma in order to avoid costs…

Abstract

Purpose

The aim of this paper is to develop the optimal delta hedge for a portfolio of mortgage servicing rights (MSR) under the constraint of a zero‐gamma in order to avoid costs related to the rebalancing of such portfolio.

Design/methodology/approach

The paper develops the optimal delta hedge ratio with gamma and vega constraints for an MSR portfolio by finding the different combinations of coupon/maturity bonds (c, n) that satisfy the constraints under different yields (y). Rather than search for the available fixed income securities and see by trial and error which one should be added to the portfolio of MSR such that when market rates go up and down, the value of the portfolio is not affected, the model finds the optimal pairs of coupon/maturity bonds over a range of yields, that satisfy the constraints. It develops the conditions for a delta‐hedged portfolio of bonds and MSR under an investor's or a portfolio manager's value constraint K. The share α of the MSR's value and the share β of the bond's value had to be such that a zero‐delta portfolio that satisfies the constant value of the portfolio can be created. The paper “optimized” α by requiring simultaneously that α′=0 and also that α″=0, for a fixed y given by the market that will guarantee that the function α satisfies simultaneously the two conditions: α′=0 and α″=0. These two conditions will yield equations in the parameters of c and n. The “optimization” problem for arbitrary y's is solved, and n and c for the appropriate bond are found to be added to the MSR portfolio.

Findings

Maple software is used to simulate a portfolio of MSR that is delta hedged with bonds, whose appropriate coupon and maturity are found with the model developed under the constraint of a zero‐gamma, in order to avoid costs related to the rebalancing of such portfolio. The optimal hedge ratio with gamma and vega constraints for an MSR portfolio is developed by finding the different combinations of coupon/maturity bonds that satisfy the constraints under different yields (the “triples”).

Practical implications

The optimal triples (c, n, y) are obtained in order to optimize α and simultaneously α′=0 and α″=0. For example, for a yield of 16.1 percent, a bank with a portfolio of MSR based on the data used, should add to it, bonds with a 6.33 percent coupon that matures in 7.55 years.

Originality/value

This paper is the first to the authors' knowledge to derive the different triples (yield, coupon, maturity) of bonds that when combined with MSR create a portfolio that is dynamically hedged against interest rate risk and prepayment risk, and therefore eliminates the need of periodic rebalancing of a portfolio of MSR, which is costly.

Details

The Journal of Risk Finance, vol. 11 no. 4
Type: Research Article
ISSN: 1526-5943

Keywords

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Article
Publication date: 1 February 1950

LAST month's article dealt with the problems and work associated with the preparation of Royal Air Force Maintenance Schedules, while this continuation of it is in the…

Abstract

LAST month's article dealt with the problems and work associated with the preparation of Royal Air Force Maintenance Schedules, while this continuation of it is in the nature of a corollary. There are many ways in which aeroplane design could be better from the servicing viewpoint and the aim here is to indicate some of the lines of thought that can lead to an improvement. I have not attempted anything in the nature of an exhaustive survey, since that requires months of study; but, using a number of AMSDU Servicing Appraisals as a basis, I have tried to give a general picture of some good and bad features in modern aeroplanes.

Details

Aircraft Engineering and Aerospace Technology, vol. 22 no. 2
Type: Research Article
ISSN: 0002-2667

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Expert briefing
Publication date: 12 December 2019

Space servicing industry.

Details

DOI: 10.1108/OXAN-DB249391

ISSN: 2633-304X

Keywords

Geographic
Topical
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Article
Publication date: 6 April 2012

M. Wasiqur Rahman Khan and Haydory Akbar Ahmed

The purpose of this paper is to examine the dynamics between real gross domestic product (GDP), foreign earnings, development assistance and debt servicing in Bangladesh…

Abstract

Purpose

The purpose of this paper is to examine the dynamics between real gross domestic product (GDP), foreign earnings, development assistance and debt servicing in Bangladesh, 1973‐2008, with the incorporation of a structural break after 1990.

Design/methodology/approach

A vector autoregression (VAR) framework using annual data from 1973‐2008 was used to examine the dynamics among the above mentioned variables, with the incorporation of a structural break after 1990. This was followed by innovation accounting and testing for Granger causality.

Findings

It was found that the structural break is significant and all the macro‐variables exhibit trend stationarity. Innovation accounting suggests that the debt servicing capacity of Bangladesh is enhanced by an improvement in foreign earnings, an outcome which is reinforced by Granger causality tests.

Research limitations/implications

A bigger sample size, consisting of quarterly observations is desirable.

Practical implications

These results suggest that an increase in foreign earnings implies an improvement in the capacity to service overseas debt. Thus, from a policy perspective, it is recommended that steps be taken to diversify the sources of foreign earnings. The analysis affirms that there is a causal link between injections, represented by foreign earnings and overseas development assistance and leakages, represented by debt servicing. Such affirmation is certain to be an important input in macroeconomic policy formulation.

Originality/value

The dynamics between real GDP, foreign earnings, development assistance and debt servicing in Bangladesh have been empirically examined using recent developments in time‐series econometrics.

Details

International Journal of Development Issues, vol. 11 no. 1
Type: Research Article
ISSN: 1446-8956

Keywords

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