Spillage
In industrial production, spillage is the loss of production output due to production of a series of defective or unacceptable products which must be rejected. Spillage is an often costly event which occurs in manufacturing when a process degradation or failure occurs that is not immediately detected and corrected, and in which defective or reject product therefore continues to be produced for some extended period of time. Spillage results in costs due to lost production volume, excessive scrap, delayed delivery of product, and wastage of human and capital equipment resources. Minimization of the occurrence and duration of manufacturing spillage requires that Feedback, closed-loop control and associated process monitoring and metrology functions be integrated into critical steps of the overall manufacturing process. The extent to which process control is complete and metrology is high resolution so as to be comprehensive determines the extent to which spillages will be prevented. ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Industrial Production
Industrial production is a measure of output of the industrial sector of the economy. The industrial sector includes manufacturing, mining, and utilities. Although these sectors contribute only a small portion of gross domestic product (GDP), they are highly sensitive to interest rates and consumer demand. This makes industrial production an important tool for forecasting future GDP and economic performance. Industrial production figures are also used by central banks to measure inflation In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of curre ..., as high levels of industrial production can lead to uncontrolled levels of consumption and rapid inflation . See also * Index of industrial production * Industrial Production Index References Economic data Secondary sector of the economy ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Feedback
Feedback occurs when outputs of a system are routed back as inputs as part of a chain of cause and effect that forms a circuit or loop. The system can then be said to ''feed back'' into itself. The notion of cause-and-effect has to be handled carefully when applied to feedback systems: History Self-regulating mechanisms have existed since antiquity, and the idea of feedback started to enter economic theory in Britain by the 18th century, but it was not at that time recognized as a universal abstraction and so did not have a name. The first ever known artificial feedback device was a float valve, for maintaining water at a constant level, invented in 270 BC in Alexandria, Egypt. This device illustrated the principle of feedback: a low water level opens the valve, the rising water then provides feedback into the system, closing the valve when the required level is reached. This then reoccurs in a circular fashion as the water level fluctuates. Centrifugal governors were ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Process Control
Industrial process control (IPC) or simply process control is a system used in modern manufacturing which uses the principles of control theory and physical industrial control systems to monitor, control and optimize continuous Industrial processes, industrial production processes using control algorithms. This ensures that the industrial machines run smoothly and safely in factories and efficiently use energy to transform raw materials into high-quality finished products with reliable consistency while reducing Efficient energy use#Industry, energy waste and economic costs, something which could not be achieved purely by human manual control. In IPC, control theory provides the theoretical framework to understand system dynamics, predict outcomes and design control strategies to ensure predetermined objectives, utilizing concepts like feedback loops, stability analysis and controller design. On the other hand, the physical apparatus of IPC, based on automation technologies, cons ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |