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Straight after its invention in the early sixties, the Kalman filter approach became part of the astronautical guidance system of the Apollo project and therefore received immediate acceptance in the field of electrical engineer ing. This sounds similar to the well known success story of the Black-Scholes model in finance, which has been implemented by the Chicago Board of Op tions Exchange (CBOE) within a few month after its publication in 1973. Recently, the Kalman filter approach has been discovered as a comfortable estimation tool in continuous time finance, bringing together seemingly un related methods from different fields. Dr. B. Philipp Kellerhals contributes to this topic in several respects. Specialized versions of the Kalman filter are developed and implemented for three different continuous time pricing models: A pricing model for closed-end funds, taking advantage from the fact, that the net asset value is observable, a term structure model, where the market price of risk itself is a stochastic variable, and a model for electricity forwards, where the volatility of the price process is stochastic. Beside the fact that these three models can be treated independently, the book as a whole gives the interested reader a comprehensive account of the requirements and capabilities of the Kalman filter applied to finance models. While the first model uses a linear version of the filter, the second model using LIBOR and swap market data requires an extended Kalman filter. Finally, the third model leads to a non-linear transition equation of the filter algorithm.
This book presents a number of efficient techniques for solving large-scale production scheduling and planning problems in process industries. The main content is supplemented by a wealth of illustrations, while case studies on large-scale industrial applications, ranging from continuous to semicontinuous and batch processes, round out the coverage. The book examines a variety of complex, real-world problems, and demonstrates solutions that are applicable to scenarios and countries around the world. Specifically, these case studies include: • the production planning of the bottling stage of a major brewery at the Cervecería Cuauhtémoc Moctezuma (Heineken Int) in Mexico;• the production scheduling for multi-stage semicontinuous processes at an ice-cream production facility of Unilever in the Netherlands;• the resource-constrained production planning for the yogurt production line at the KRI KRI dairy production facility in Greece; and• the production scheduling for large-scale, multi-stage batch processes at a pharmaceutical batch plant in Germany. In addition, the book includes industrial-inspired case studies of: • the simultaneous planning of production and logistics operations considering multi-site facilities for semicontinuous processes; and• the integrated planning of production and utility systems in process industries under uncertainty. Solving Large-scale Production Scheduling and Planning in the Process Industries offers a valuable reference guide for researchers and decision-makers alike, as it shows readers how to evaluate and improve existing installations, and how to design new ones. It is also well suited as a textbook for advanced courses on production scheduling and planning in industry, as it addresses the optimization of production and logistics operations in real-world process industries.
Computer aided process engineering (CAPE) plays a key design and operations role in the process industries. This conference features presentations by CAPE specialists and addresses strategic planning, supply chain issues and the increasingly important area of sustainability audits. Experts collectively highlight the need for CAPE practitioners to embrace the three components of sustainable development: environmental, social and economic progress and the role of systematic and sophisticated CAPE tools in delivering these goals. Contributions from the international community of researchers and engineers using computing-based methods in process engineering Review of the latest developments in process systems engineering Emphasis on a systems approach in tackling industrial and societal grand challenges
Process Systems Engineering for Pharmaceutical Manufacturing: From Product Design to Enterprise-Wide Decisions, Volume 41, covers the following process systems engineering methods and tools for the modernization of the pharmaceutical industry: computer-aided pharmaceutical product design and pharmaceutical production processes design/synthesis; modeling and simulation of the pharmaceutical processing unit operation, integrated flowsheets and applications for design, analysis, risk assessment, sensitivity analysis, optimization, design space identification and control system design; optimal operation, control and monitoring of pharmaceutical production processes; enterprise-wide optimization and supply chain management for pharmaceutical manufacturing processes. Currently, pharmaceutical companies are going through a paradigm shift, from traditional manufacturing mode to modernized mode, built on cutting edge technology and computer-aided methods and tools. Such shifts can benefit tremendously from the application of methods and tools of process systems engineering. - Introduces Process System Engineering (PSE) methods and tools for discovering, developing and deploying greener, safer, cost-effective and efficient pharmaceutical production processes - Includes a wide spectrum of case studies where different PSE tools and methods are used to improve various pharmaceutical production processes with distinct final products - Examines the future benefits and challenges for applying PSE methods and tools to pharmaceutical manufacturing
A technological book is written and published for one of two reasons: it either renders some other book in the same field obsolete or breaks new ground in the sense that a gap is filled. The present book aims to do the latter. On my return from industry to an academic career, I started writing this book because I had seen that a gap existed. Although a great deal of information appeared in the published literature about various technical aspects of advanced manufacturing technology (AMT), surprisingly little had been written about the systems con text within which the sophisticated hardware and software of AMT are utilized to increase efficiency. Therefore, I have attempted in this book to show how structured approaches in the design and evaluation of modern manufacturing plant may be adopted, with the objective of improving the performance of the factory as a whole. I hope this book will be a contribution to the newly recognized, multidisciplinary engineering function known as manufacturing sys tems engineering. The text has been designed specifically to demonstrate the systems aspects of modern manufacturing operations, including: systems con cepts of manufacturing operation; manufacturing systems modelling and evalua tion; and the structured design of manufacturing systems~ One of the major difficulties associated with writing a text of this nature stems from the diversity of the topics involved. I have attempted to solve this problem by adopting an overall framework into which the relevant topics are fitted.
This book, divided in two volumes, originates from Techno-Societal 2018: the 2nd International Conference on Advanced Technologies for Societal Applications, Maharashtra, India, that brings together faculty members of various engineering colleges to solve Indian regional relevant problems under the guidance of eminent researchers from various reputed organizations. The focus is on technologies that help develop and improve society, in particular on issues such as the betterment of differently abled people, environment impact, livelihood, rural employment, agriculture, healthcare, energy, transport, sanitation, water, education. This conference aims to help innovators to share their best practices or products developed to solve specific local problems which in turn may help the other researchers to take inspiration to solve problems in their region. On the other hand, technologies proposed by expert researchers may find applications in different regions. This offers a multidisciplinary platform for researchers from a broad range of disciplines of Science, Engineering and Technology for reporting innovations at different levels.
This book contains the proceedings of the 10e of a series of international symposia on process systems engineering (PSE) initiated in 1982. The special focus of PSE09 is how PSE methods can support sustainable resource systems and emerging technologies in the areas of green engineering. * Contains fully searchable CD of all printed contributions * Focus on sustainable green engineering * 9 Plenary papers, 21 Keynote lectures by leading experts in the field
This book offers a comprehensive reference guide to operations research theory and applications in health care systems. It provides readers with all the necessary tools for solving health care problems. The respective chapters, written by prominent researchers, explain a wealth of both basic and advanced concepts of operations research for the management of operating rooms, intensive care units, supply chain, emergency medical service, human resources, lean health care, and procurement. To foster a better understanding, the chapters include relevant examples or case studies. Taken together, they form an excellent reference guide for researchers, lecturers and postgraduate students pursuing research on health care management problems. The book presents a dynamic snapshot on the field that is expected to stimulate new directions and stimulate new ideas and developments.