Estimation of base rate by a goal programming approach: a case study from India Online publication date: Sat, 31-Jan-2015
by Vineet Gupta, Harwinder Singh, Binay Kumar
International Journal of Indian Culture and Business Management (IJICBM), Vol. 4, No. 5, 2011
Abstract: Each equipment plays an imperative function and its malfunction leads to heavy cost and plant development. The current study is resolute on base-rate estimation of breakdowns of boilers at sugar plant (capacity – 2,500 tons crushed per day) under different set of parameters. It is relatively difficult to guesstimate the base rate, as one knows hardly the expenses incurred following a breakdown in terms of many associated expenditures. To estimate the base rate, a preemptive goal programming (GP) model is formulated that considers all major influencing factors. With any change in factors, maintenance time also gets pretentious. However, these factors are further sub-levelled for a very precise inference of optimal maintenance time. Additional constraints are obtained by providing priority-based benchmark jobs. Finally, the model is worked out within 3% variation from the benchmark jobs involved.
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