An Econometric Approach of Modeling the Manufacturing System Performance in Machining Shafts

Abstract

Monitoring and controlling input and output parameters of a manufacturing system is a critical problem in optimizing the system. Performance of a manufacturing system covers a very broad spectrum of technological and management activities. Performance measurement for a manufacturing system is essential for the management system to understand its status and take appropriate decisions in order to maintain competitiveness. This paper proposes to develop an econometric model of the relationship between performance and the system parameters of a manufacturing system, model that will help to optimize the decision making system.