Abstract: The present paper used time-varying parameters which are based on the score function of a probability density at time t to model volatility of saving rate. We used a scaled likelihood function to update the parameters of the model overtime. Our results revealed high diligence of time-varying since the location parameter is greater than zero. Furthermore, we discovered a leptokurtic condition on saving rate’s distribution. Kapetanios, Shin-Shell Nonlinear Augmented Dickey-Fuller (KSS-NADF) test showed that the saving rate has a nonlinear unit root; therefore, it can be modeled by a generalised autoregressive score (GAS) model. Additionally, value at risk (VaR) and conditional tail expectation (CTE) indicate that 99% of the time people in Lesotho are saving more than spending. This puts the economy in high risk of not expanding. Therefore, the monetary policy committee (MPC) of Lesotho should revise their monetary policies towards this high saving rates risk.
Abstract: The paper attempts to overcome the fluctuations occurring in demand of the components in an automotive sector company. Resource and time being the strict constraints, the production is not able to match the pace of the fluctuating demand. So, we introduce some production schedules that help in meeting out the required demand. The merits and demerits of the approaches are also highlighted.
Abstract: Water Sensitive Urban Design (WSUD) features are
increasingly used to treat and manage polluted stormwater runoff in urbanised areas. It is important to monitor and evaluate the effectiveness of the infrastructure in achieving their intended performance targets after constructing and operating these features
overtime. The paper presents the various methods of analysis used to
assess the effectiveness of the in-situ WSUD features, such as: onsite visual inspections during operational and non operational periods, maintenance audits and periodic water quality testing. The results will contribute to a better understanding of the operational and
maintenance needs of in-situ WSUD features and assist in providing recommendations to better manage life cycle performance.
Abstract: Integration of process planning and scheduling
functions is necessary to achieve superior overall system
performance. This paper proposes a methodology for integration of
process planning and scheduling for prismatic component that can be
implemented in a company with existing departments. The developed
model considers technological constraints whereas available time for
machining in shop floor is the limiting factor to produce multiple
process plan (MPP). It takes advantage of MPP while guarantied the
fulfillment of the due dates via using overtime. This study has been
proposed to determinate machining parameters, tools, machine and
amount of over time within the minimum cost objective while
overtime is considered for this. At last the illustration shows that the
system performance is improved by as measured by cost and
compatible with due date.