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Sees the objective of teaching financial management to be to help managers and potential managers to make sensible investment and financing decisions. Acknowledges that financial theory teaches that investment and financing decisions should be based on cash flow and risk. Provides information on payback period; return on capital employed, earnings per share effect, working capital, profit planning, standard costing, financial statement planning and ratio analysis. Seeks to combine the practical rules of thumb of the traditionalists with the ideas of the financial theorists to form a balanced approach to practical financial management for MBA students, financial managers and undergraduates.

IT is difficult to imagine the world of Work Study without the urbane ubiquity of Russell Currie, whose death on 28 August we deeply regret to record. Although he had been officially in retirement for a year or two his presence was immanent in any important gathering of those who had so long looked to him for the leadership that was always forthcoming. We can fittingly borrow an epigram he coined at the London Congress in 1963 as apt at this time. ‘The sun shone to greet your arrival; the skies weep for your departure.’

This paper aims to analyze the pressure behavior in dual porosity reservoirs using different techniques in an attempt to correctly characterize reservoir properties. Pressure transient tests in naturally fractured reservoirs often exhibit non-uniform responses.

The pressure transient tests in naturally fractured reservoirs were analyzed using conventional semi-log analysis, type curve matching (using commercial software) and Tiab’s direct synthesis (TDS) technique. In addition, the TDS method was applied in case of a naturally fractured formation with a vertical hydraulic fracture. These techniques were applied to a single-layer, naturally fractured reservoir under pseudosteady state matrix flow. By studying the unique characteristics of the different flow regimes appear on the pressure and pressure derivative curves, various reservoir characteristics can be obtained such as permeability, skin factor and fracture properties.

For naturally fractured reservoirs, a comparison between the results semi-log analysis, software matching and TDS method is presented. In case of wellbore storage, early time flow regime can be obscured that lead to incomplete semi-log analysis. Furthermore, the type curve matching usually gives a non-uniqueness solution, as it needs all the flow regimes to be observed. However, the direct synthesis method used analytical equation to calculate reservoir and well parameters without type curve matching. For naturally fractured reservoirs with a vertical fracture, the pressure behavior of wells crossed by a uniform flux and infinite conductivity fracture is analyzed using TDS technique. The different flow regimes on the pressure derivative curve were used to calculate the fracture half-length in addition to other reservoir properties.

The results of different field cases showed that TDS technique offers several advantages compared to semi-log analysis and type curve matching. It can be used even if some flow regimes are not observed. Direct synthesis results are accurate compared to the available core data and the software matching results. It can be used to confirm the software matching results and to give reliable reservoir characteristics when there is lack of data.

BECAUSE productivity means profitability it is the aim of any manufacturing organization. Too often productivity is thought to be the same thing as increased production. In reality it is very different. The way to increase production is fairly obvious. More machinery is obtained, larger quantities of raw materials are purchased and more workers are engaged. If, for example, these three essentials are doubled production should be twice as much. Production has increased, but if it has not succeeded in lowering the price of whatever is being manufactured what has been gained?

The purpose of this paper is to investigate basic block pattern modification according to fabric used and the mismatch between 2D and 3D measure lines at bust, waist and hip girths when ease allowance is changed uniformly.

For the investigation, virtual try-on software Modaris 3D Fit (CAD Lectra) was used. The straight shape dress fitting was done using seven cotton and cotton blended plain weave fabrics. After virtual try-on, the mismatch d (d_bust, d_waist, d_hip) between 2D and 3D measure lines was measured in order to determine base pattern adjustments using different fabrics.

It was found that the position and length of 3D measure lines at bust, waist and hip girths does not match the position and length of corresponding lines in 2D base patterns after virtual try-on due to fabrics deformation, which is related to mechanical properties. It was proved that derived linear equations presenting a relation between mismatch and ease allowance values could be used for basic block pattern modification that 3D and 2D measure lines would coincide during clothing try-on.

This research is limited to cotton/cotton blended woven fabrics and straight dress; therefore, other fabric types and other clothing could be investigated in the future to expand data basis.

The main practical point of the proposed method is that in order to obtain particular 3D ease value in a garment, it can be calculated from 2D ease allowance value and the fabric’s tensile properties using linear equations. The basic block patterns could be modified using this method not only for tested fabrics but also for other fabrics with similar composition, structural and mechanical properties. 3D ease values in garment can be easily checked by using virtual try-on technology without production of real prototypes. The method is applicable for making ready-to-wear or individually tailored clothing.

The proposed method in this paper presented opportunity to modify the basic block patterns of the dress according to the fabric’s tensile properties and 2D ease allowance. The basic block patterns could be modified according to presented linear functions for each tested fabric. The application of this method can fully ensure the interaction between the garment 2D patterns to 3D garment so that a desired 3D garment fitting effect to the body can easily be satisfied by the adjustment of particular fabric characteristics. It offers further possibilities, especially with developing virtual try-on technologies.

Rabbit chase (RC) is used as one of the most effective techniques in manufacturing systems, as such systems have high level of adaptability and increased productivity in addition to providing uniform workload balancing and skill improving environment. In assembly systems, RC inspires the development of walking worker assembly line (WWAL). On the other hand, U-type assembly lines (UALs) may provide higher worker utilization, lower space requirement and more convenient internal logistics when compared to straight assembly lines. In this context, this study aims to improve assembly line performance by generating RC cycles on WWAL with respect to task assignment characteristics of UAL within reasonable walking distance and space requirement. Therefore, a novel line configuration, namely, segmented rabbit chase-oriented U-type assembly line (SRCUAL), emerges.

The mathematical programming approach treats SRCUAL balancing problem in a hierarchical manner to decrease computational burden. Firstly, segments are generated via the first linear programming model in the solution approach for balancing SRCUALs to minimize total number of workers. Then, stations are determined within each segment for forward and backward sections separately using two different pre-emptive goal programming models. Moreover, three heuristics are developed to provide solution quality with computational efficiency.

The proposed mathematical programming approach is applied to the light-emitting diode (LED) luminaire assembly section of a manufacturing company. The adaptation of SRCUAL decreased the number of workers by 15.4% and the space requirement by 17.7% for LED luminaire assembly system when compared to UAL. Moreover, satisfactory results for the proposed heuristics were obtained in terms of deviation from lower bound, especially for SRCUAL heuristics I and II. Moreover, the results indicate that the integration of RC not only decreased the number of workers in 40.28% (29 instances) of test problems in U-lines, but also yielded less number of buffer points (48.48%) with lower workload deviation (75%) among workers in terms of coefficient of variation.

This study provides convenience for capacity management (assessing capacity and adjusting capacity by changing the number of workers) for industrial SRCUAL applications. Meanwhile, SRCUAL applications give the opportunity to increase the capacity for a product or transfer the saved capacity to the assembly of other products. As it is possible to provide one-piece flow with equal workloads via walking workers, SRCUAL has the potential for quick realization of defects and better lead time performance.

To the best of the authors’ knowledge, forward–backward task assignments in U-type lines have not been adapted to WWALs. Moreover, as workers travel overall the line in WWALs, walking time increases drastically. Addressing this research gap and limitation, the main innovative aspect of this study can be considered as the proposal of a new line design (i.e. SRCUAL) which is sourced from the hybridization of UALs and WWAL as well as the segmentation of the line with RC cycles. The superiority of SRCUAL over WWAL and UAL was also discussed. Moreover, operating systematic for SRCUAL was devised. As for methodical aspect, this study is the first attempt to solve the balancing problem for SRCUAL design.

Films Aid Machine Design. A Scottish firm of laundry engineers has perfected a system of film records as the basis on which machine design can be considered, and reports that the policy has been fully justified by results. Film records are made of a competent operator using a machine in her own manner using her own technique; this record is analysed and used as the basis of criticism from which to start building an improved unit. Slow‐motion projection allows time and motion analysis over a period of weeks when potential alterations in the technique and layout are considered.

The purpose of this paper is to better define the relationships between product variety and lean production in enabling mass customization in industrialized homebuilding.

This study includes a case study analysis of two housing plants that instituted lean production systems. For each company, the case study documented the company's background, the product choice offered, the lean implementation approach used, the results obtained, and the effect of product choice on the lean implementation. Using these case study findings, common trends were identified and used to develop guidelines for an effective mass customization strategy for industrialized homebuilders. This paper summarizes the extensive findings for one of the two plants and provides the recommended guidelines developed from common trends identified at both plants.

Case study findings indicated that product choice does not necessarily make the implementation of lean concepts more difficult. In fact, good lean concepts (e.g. continuous flow, pull system, workload leveling, defect‐free processes, standard tasks, good visual control, and reliable technology) were also good concepts for (or easily accommodated) handling a range of product choice.

Research findings are limited by the small number of plants involved in the study.

The paper makes an important contribution to the understanding of both lean production and mass customization, identifying the lean principles that facilitate mass customization for industrialized homebuilders. Findings also provide useful guidelines for builders interested in better addressing specific customer needs, while managing the operational complexities resulting from product variety.

Overview All organisations are, in one sense or another, involved in operations; an activity implying transformation or transfer. The major portion of the body of knowledge concerning operations relates to production in manufacturing industry but, increasingly, similar problems are to be found confronting managers in service industry. It is only in the last decade or so that new technology, involving, in particular, the computer, has encouraged an integrated view to be taken of the total business. This has led to greater recognition being given to the strategic potential of the operations function. In order to provide greater insight into operations a number of classifications have been proposed. One of these, which places operations into categories termed factory, job shop, mass service and professional service, is examined. The elements of operations management are introduced under the headings of product, plant, process, procedures and people.