Electronic textiles provide an effective platform to contain wearable computing elements, especially components geared towards the application of activity recognition. An activity recogni tion system built into a wearable textile substrate can be utilized in a variety of areas including health monitoring, military applications, entertainment, and fashion. Many of the activity recognition and motion capture systems previously developed have several drawbacks and limitations with regard to their respective designs and implementations. Some such systems are often times expensive, not conducive to mass production, and may be difficult to calibrate. An effective system must also be scalable and should be deployable in a variety of environments and contexts. This thesis presents the design and implementation of a self-contained motion sensing wearable electronic textile system with an emphasis toward the application of activity recognition. The system is developed with scalability and deployability in mind, and as such, utilizes a two-tier hierarchical model combined with a network infrastructure and wireless connectivity. An example prototype system, in the form of a jumpsuit garment, is presented and is constructed from relatively inexpensive components and materials. / Master of Science

Yes / The concept of waste and how it can be reduced, recycled, refurbished or reused in its current form has been widely discussed in industry. The importance of waste reduction from an environmental and economic perspective has also heightened in both industry and within the research arena. Thus said, stringent steps have been taken to facilitate the collection of and capture residual value in waste items. This article explores this premise in relation to medicines waste as part of the wider medicines optimisation agenda.

Services and service-based business are a major part of any economy. However, service-based supply chains require a greater level of interaction between provider and consumer than the traditional manufacturing or product-based supply chain. Therefore, they require optimization and resiliency models that acknowledge the constraints and goals unique to service-based industries. Value co-creation and service-dominant logistics (SDL) are relatively new to operations research. Existing literature in management science provides a framework for value co-creation but does not provide a model for optimizing value cocreation and resiliency in a complex or dynamic systems such as education supply chains (ESC). This dissertation addresses these knowledge gaps through 3 essays. The first essay establishes a method for optimizing investment in resiliency measures when utilizing parallel supply chains. The essay examines the intersection of value co-creation theory between higher education and service-dominant logistics (SDL) to understand the role of supply chain elements in value cocreation. The second essay provides a theoretical approach to incorporating resilience planning into the customer relationship management model. The final essay establishes a method for optimizing investment in resiliency measures when utilizing parallel service supply chains.

This study explored the theoretical aspects of Lean Manufacturing principles and identified the practical implementations for a gold processing plant. The success rate of Lean implementations is currently as low as 5% and can be attributed to the failure of management to address the effect of implemented changes on the employees. With this risk in mind, the study included a measurement of the worker perception towards change and organisational climate. The impact of Lean Manufacturing principles was thus quantified by means of practical projects, including an empirical study of how open employees are towards change implementation. The plant process was described and the flow of value was mapped in a Value Stream Map (VSM). The applied principles resulted in three proposed improvement projects with the potential of reducing operating cost, generating additional revenue and eliminating waste. The proposals included reducing lead times through the plant for the two feed sources, namely reef and waste material by 4% and 51% respectively; improved recovery of fine carbon as a by-product of the treatment circuit; and lastly, reducing the lead time for conducted elusions by improving the “flow” of solution throughout the batch process. The quantified financial benefits of the improvements were an estimated additional revenue of R180,000 per month and a further cost saving of R4,000 per month. This study explained that multiple spin-off benefits are realized when improvements are based on Lean Manufacturing principles. Some additional benefits were listed but not quantified in this study. It is important to notice that these specific identified improvements did not require additional capital expenditure, nor long lead times to be implemented. Requirements included an open mind towards change management, time and effort. A survey was conducted to measure the employees’ readiness for change management and the stability of the organisational climate. In the South African mining context, there are external factors impacting on operations of which labor, unions and worker productivity are among the foremost aspects of current concern. This served as motivation for the survey to test employee readiness for Lean Manufacturing changes to be implemented. The statistical internal consistency of the questionnaire, as expressed by the Cronbach alpha coefficients, was acceptable at 0.773 and 0.759 for the change management and organisational climate factors respectively. The p-values and effect sizes were determined within the T-test and ANOVA tests. The group consisting of different years’ experience yielded the most statistical differences in the way that the organisational climate section was completed. The indication was that highly experienced employees answered the questionnaire significantly different than the other groups. The average scoring for the section was above the average and therefore was not considered to be a significant risk to implementation. The group is considered ready for change implementation and the plant should proceed to implement the identified Lean projects. The success and sustainability of the projects can encourage additional improvements. The recommendation is to revisit the future VSM after completion of the projects to identify the next level of improvements for implementation. / MBA, North-West University, Potchefstroom Campus, 2015

This study explored the theoretical aspects of Lean Manufacturing principles and identified the practical implementations for a gold processing plant. The success rate of Lean implementations is currently as low as 5% and can be attributed to the failure of management to address the effect of implemented changes on the employees. With this risk in mind, the study included a measurement of the worker perception towards change and organisational climate. The impact of Lean Manufacturing principles was thus quantified by means of practical projects, including an empirical study of how open employees are towards change implementation. The plant process was described and the flow of value was mapped in a Value Stream Map (VSM). The applied principles resulted in three proposed improvement projects with the potential of reducing operating cost, generating additional revenue and eliminating waste. The proposals included reducing lead times through the plant for the two feed sources, namely reef and waste material by 4% and 51% respectively; improved recovery of fine carbon as a by-product of the treatment circuit; and lastly, reducing the lead time for conducted elusions by improving the “flow” of solution throughout the batch process. The quantified financial benefits of the improvements were an estimated additional revenue of R180,000 per month and a further cost saving of R4,000 per month. This study explained that multiple spin-off benefits are realized when improvements are based on Lean Manufacturing principles. Some additional benefits were listed but not quantified in this study. It is important to notice that these specific identified improvements did not require additional capital expenditure, nor long lead times to be implemented. Requirements included an open mind towards change management, time and effort. A survey was conducted to measure the employees’ readiness for change management and the stability of the organisational climate. In the South African mining context, there are external factors impacting on operations of which labor, unions and worker productivity are among the foremost aspects of current concern. This served as motivation for the survey to test employee readiness for Lean Manufacturing changes to be implemented. The statistical internal consistency of the questionnaire, as expressed by the Cronbach alpha coefficients, was acceptable at 0.773 and 0.759 for the change management and organisational climate factors respectively. The p-values and effect sizes were determined within the T-test and ANOVA tests. The group consisting of different years’ experience yielded the most statistical differences in the way that the organisational climate section was completed. The indication was that highly experienced employees answered the questionnaire significantly different than the other groups. The average scoring for the section was above the average and therefore was not considered to be a significant risk to implementation. The group is considered ready for change implementation and the plant should proceed to implement the identified Lean projects. The success and sustainability of the projects can encourage additional improvements. The recommendation is to revisit the future VSM after completion of the projects to identify the next level of improvements for implementation. / MBA, North-West University, Potchefstroom Campus, 2015

This bachelor thesis was written in cooperation with IAC Group AB in Låssby/Gothenburg. The report explains the background to this project and why it was started. It also describes some theory which is needed to understand the project that has been made and which methodologies that have been used during this study. In this project the current state of the door panel department layout was analyzed and studied. Very early on it became clear that one of the biggest wastes for this department is related to operators walking. To make an improvement the focus was on reducing the unnecessary walking distances that the operators have to make and also not exceed the given budget. Six different layout alternatives were analyzed in regards to these factors and compared with each other as well as with the current state. The comparisons resulted in an own layout suggestion which is a combination of some of the six layouts analyzed but also own inputs. This layout is recommended for the company to implement since it reduces the unnecessary walking distances the most of all alternatives and the investment for it is within the given budget.

Advancement in digital technology is rapidly changing the contemporary landscape of business and associated networks for manufacturing firms. Many traditional physical products are now being embedded with digital components, providing them digital capability to become digitized products. The digitization of physical products has become an important driver for digital service innovation within manufacturing industries. Such digital service innovation transforms value networks of manufacturing firms in various industries. While digitization of products and digital service innovation can be observed in many manufacturing industries, this thesis focuses on the transformation of value networks within the vehicle industry. This thesis is a collection of papers and a cover paper. The thesis reports from a collaborative project in the vehicle industry. The project explored new digital services for vehicles based on remote diagnostics technology. The exploration and conceptualization of digital services is investigated in a collaborative manner with participants from the vehicle industry. The results reflect that there is a paradigm shift for manufacturing firms digitizing their products, and stretching the business scope from product to solution oriented business. This thesis contributes to the existing literature on digital innovation with insights on the transformation of value networks in the vehicle industry. The research question addressed in this thesis is: How are value networks of manufacturing firms transformed by digital service innovation? To answer the question, this thesis conceptualizes how the value creating pattern of digitized products transforms value networks of manufacturing firms. A model is presented that reflects how the symbiotic value relationship between the digitized product and digital services transforms the roles, relationships and exchanges in the value networks of manufacturing firms. The model can serve as an analytical tool to further advance the knowledge on business aspects in digital innovation. This thesis contributes to practice by providing an understanding of how manufacturing firms can leverage value of digitized products and digital services in value networks. / ReDi2Service

This dissertation consists of two chapters. The first chapter establishes an algorithm for calculating capital requirements. The calculation of capital requirements for financial institutions usually entails a reevaluation of the company's assets and liabilities at some future point in time for a (large) number of stochastic forecasts of economic and firm-specific variables. The complexity of this nested valuation problem leads many companies to struggle with the implementation. The current chapter proposes and analyzes a novel approach to this computational problem based on least-squares regression and Monte Carlo simulations. Our approach is motivated by a well-known method for pricing non-European derivatives. We study convergence of the algorithm and analyze the resulting estimate for practically important risk measures. Moreover, we address the problem of how to choose the regressors, and show that an optimal choice is given by the left singular functions of the corresponding valuation operator. Our numerical examples demonstrate that the algorithm can produce accurate results at relatively low computational costs, particularly when relying on the optimal basis functions. The second chapter discusses another application of regression-based methods, in the context of pricing variable annuities. Advanced life insurance products with exercise-dependent financial guarantees present challenging problems in view of pricing and risk management. In particular, due to the complexity of the guarantees and since practical valuation frameworks include a variety of stochastic risk factors, conventional methods that are based on the discretization of the underlying (Markov) state space may not be feasible. As a practical alternative, this chapter explores the applicability of Least-Squares Monte Carlo (LSM) methods familiar from American option pricing in this context. Unlike previous literature we consider optionality beyond surrendering the contract, where we focus on popular withdrawal benefits - so-called GMWBs - within Variable Annuities. We introduce different LSM variants, particularly the regression-now and regression-later approaches, and explore their viability and potential pitfalls. We commence our numerical analysis in a basic Black-Scholes framework, where we compare the LSM results to those from a discretization approach. We then extend the model to include various relevant risk factors and compare the results to those from the basic framework.

This thesis empirically investigates how well the Nigerian National Petroleum Corporation (NNPC) ensures value for money (VfM) in its exploitation of Nigeria’s oil resources. This focus on VfM distinguishes the study from other researches carried out on the performance of national oil companies (NOCs) where the common approach in the literature has been to assess performance using the metrics applicable to private oil companies. The rationale for the new approach is that the NNPC is a quasi-public sector organisation and thus its performance should be measured in the same way as that of public sector bodies and state owned enterprises (SOEs). Informed opinions on NNPC’s management roles in Nigeria’s oil and gas upstream sector were sought from a range of relevant experts in twelve stakeholder groups involved in oil and gas upstream operations. Data were collected through the use of questionnaire and interview surveys, and further subjected to statistical analysis to determine and assess significant differences in views between respondent groups. The empirical results obtained from the questionnaires were used to draw a conclusion on the hypotheses formulated for the study. Furthermore, the findings of the interview survey were used to validate the conclusions drawn. The study revealed that the NNPC was perceived to be deficient in keeping its mandate of adding value to Nigeria’s hydrocarbon resources. In specific terms, the respondents were of the view that NNPC has not been able to ensure VfM in its operations because of defects in its organisational structure, administrative system, and accountability. External factors such as political interference, instability and an inappropriate legal framework against which NNPC operates have also been perceived to impede the corporation’s performance. The main conclusions were: firstly, it is argued that the use of conventional private sector metrics to evaluate the performance of NOCs makes it difficult to form an appropriate view on their performance. Secondly, NOCs with numerous conflicting roles as is the case with NNPC are unlikely to achieve satisfactory performance. Thirdly, the NNPC lacks the capability required to ensure multinational oil companies’ (MOC) conformity with operational provisions and best practice. Finally, the thesis concludes that establishing a standardised performance/benchmarking framework is an essential requirement to ensure value addition, VfM and accountability in Nigeria’s oil and gas operations.

We compare the traditional GARCH models with a semiparametric approach based on extreme value theory and find that the semiparametric approach yields more accurate predictions of Value-at-Risk (VaR). Using traditional parametric approaches based on GARCH and EGARCH to model the conditional volatility, we calculate univariate one-day ahead predictions of Value-at-Risk (VaR) under varying distributional assumptions. The accuracy of these predictions is then compared to that of a semiparametric approach, based on results from extreme value theory. For the 95% VaR, the EGARCH’s ability to incorporate the asymmetric behaviour of return volatility proves most useful. For higher quantiles, however, we show that what matters most for predictive accuracy is the underlying distributional assumption of the innovations, where the normal distribution falls behind other distributions which allow for thicker tails. Both the semiparametric approach and the conditional volatility models based on the t-distribution outperform the normal, especially at higher quantiles. As for the comparison between the semiparametric approach and the conditional volatility models with t-distributed innovations, the results are mixed. However, the evidence indicates that there certainly is a place for extreme value theory in financial risk management.