Journal of Production Research & Management vol 6 issue 3

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Dr. P.Vamsi Krishna

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Dr. Atul Bansal

Trisht Bandyopadhyay

C.Z. Patel College of Business and ManagementSICART Building, Vallabh Vidyanagar Gujarat, India

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Journal of Production Research & Management

Contents

1. Overview of Banking Industry with Special Reference to Reforms in the Indian Banking System Hemali Tanna

1

2. Productivity Improvement by Reducing Idle Time Using Queueing Theory Bhanu Pratap Singh Jadon, Chandra Shekhar Malvi, Vikas Shinde

13

3. Review of Sand Inclusion Defect Analysis to Initiate the Improvement in FNB Casting Process Shailee G. Acharya, Jeetendra A Vadher, Kartik Kothari

19

4. Improving the Performance of Foundry Industry through FNB Sand Mould System Shailee G. Acharya, Jeetendra A. Vadher, Kartik Kothari

26

5. Low Performance of Tenement Rating As a Source of Local Revenue in Nigeria: A Case for Introduction of Property and Land Use Charge Elekwachi Chikwendu Michael, Udobi Alexander Nnamdi 31

Journal of Production Research & Management

ISSN: 2249-4766(online), ISSN: 2347-9930(print) Volume 6, Issue 3 www.stmjournals.com

Overview of Banking Industry with Special Reference to Reforms in the Indian Banking System Hemali Tanna* Department of Management, Gujarat Technological University, Ahmedabad, Gujarat, India Marwadi Education Foundation’s Group of Institutions, Rajkot, Gujarat, India

1

Abstract The liberalization, privatization and globalization phase of 1991 popularly known as LPG policy changed the face of Indian economy. Reforms took place in several sectors of the economy; predominantly it affected the Indian banking industry. The role of banking industry is extremely important for the growth of any economy and India being a developing country is no exception to this rule. This paper discusses the overview of Indian financial system, explains the structure of Indian banking industry and analyzes the impact of banking sector reforms on Indian banking system.

Keywords: Indian financial system, banking industry, structure, reforms

INTRODUCTION Background of the Study The author has tried to understand the structure (background) of Indian financial system and Indian banking industry. The present study aims to highlight the overview of Indian banking system starting from its evolution, major players, its mechanism, products and services.

It also focuses on the major reforms taken place in the Indian banking industry.

The Objectives of the Study  To study the concept of financial system and understand the structure of Indian financial system.  To understand the basics of banking and explore the evolution of banking industry in India.  To understand the structure of Indian banking system.  To analyze the impact of banking sector reforms on Indian banking industry.  The paper is aimed to increase the knowledge of banking industry to bankers, strategists, policy makers, academic researchers and other financial professionals.

METHODS

This paper is the outcome of secondary data collection and analysis of Indian banking sector collected from various appropriate sources. The article is segmented into three parts: First part

includes the introduction, concept and structure of Indian financial system. The second part discusses the basics of banking, evolution of banking and structure of banking in India. Third part outlines/concludes the impact of banking sector reforms on Indian banking industry.

Introduction to Financial System A country’s development can be achieved through its economic growth, which depends on its financial system. In the book titled “Indian Financial System”, the author Bharti Pathak defines that, financial system is a set of sub systems of financial institutions, markets, instruments and services. It intermediates with the flow of funds between savers and borrowers. It also facilitates the transfer and allocation of scarce resources in the economy efficiently and effectively [1, 2]. There are two types of financial system: formal and informal.

Formal financial system is organized, institutional and regulated whereas informal financial system as the name suggests is informal and unorganized in nature and it is not regulated by any regulatory organizations. The formal financial system comprises of ministry of finance, RBI, SEBI and other regulatory bodies. The informal financial system consists of individual money lenders, groups of persons functioning as funds or associations,

JoPRM (2016) 1-12 © STM Journals 2016. All Rights Reserved

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Journal of Production Research & Management

ISSN: 2249-4766(online), ISSN: 2347-9930(print) Volume 6, Issue 3 www.stmjournals.com

Productivity Improvement by Reducing Idle Time Using Queueing Theory Bhanu Pratap Singh Jadon*, Chandra Shekhar Malvi, Vikas Shinde Department of Mechanical Engineering, Madhav Institute of Technology and Science, Gwalior, Madhya Pradesh, India Abstract In this investigation, the rail spring production unit performance to enhance the productivity by reducing the idle time is discussed. The objective of the paper is to improve the effectiveness, efficiency and selecting the most suitable system for production unit. The spring production unit has seven independent work stations namely; end tapering, bar heating furnace, coiling and quenching, tempering furnace, end grinding, chamfering, shot peening and hardness testing. We have examined the process of each workstation and collected the relevant data, and chi-square method was applied to determine the arriving and leaving departure distribution of processing unit. We have employed queueing model for analyzing the performance measure of production unit such as Ls, Lq, Ws, Wq, utilization factor, WIP, etc.

Keywords: Productivity, queueing, spring, chi-square, multi-stage production

INTRODUCTION

With the recent development of advance technology, the effectiveness and efficiency of the production units have great impact.

Manufacturers are facing most challenging task to upgrade the product variety, reducing the product cost and increasing the productivity with optimum utilization of resources. In this paper, we employed the queueing model to reduce some wasteful activities involved in the manufacturing process, which unnecessarily increase the waiting time between two workstations. Many researchers have studied such issue for increasing productivity using different techniques. Wang et al. considered simulation technique to improve life cycle of manufacturing systems and proposed that simulation technique is helpful to reduce cost, improve quality and productivity [1].

Sukhotua et al. discussed a number of approaches in the facility design for modeling material flow using queueing networks [2].

Markovian job routing assumptions were used to provide more accurate results then previous methods. Rameez and Inamdar proposed more comprehensive approach to assess the current state of adoption and implementation of lean manufacturing [3]. Yadav et al. enhanced the

productivity of spring by reducing manufacturing lead time through value stream mapping [4]. Marsudi and Shafeek examined multi-stage production line performance to facilitate more realistic resource planning for improving the effectiveness and efficiency of the production unit [5].

Sarkar determined how many machines are to be assigned to an operator for reducing waiting time or idle time of both the operators and the machine leading to reduced productivity [6].

Anderson et al. studied the performance analysis for driving and managing production improvements with productivity and overall equipment efficiency (OEE) [7].

We have considered railway spring production unit, which produces hot coiled springs. After analyzing the process of manufacturing of springs, we found that there are some wasteful activities in the production process, which take more service time between two workstations.

We identified that service time or ideal time between the two workstations has to be taken care of by queueing model.

The present paper is organized as follows: In ‘Description of process’, we have described the production process of spring. In

JoPRM (2016) 13-18 © STM Journals 2016. All Rights Reserved

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Journal of Production Research & Management

ISSN: 2249-4766(online), ISSN: 2347-9930(print) Volume 6, Issue 3 www.stmjournals.com

Review of Sand Inclusion Defect Analysis to Initiate the Improvement in FNB Casting Process Shailee G. Acharya1,2,*, Jeetendra A. Vadher3, Kartik Kothari4 1

School of Engineering, R.K. University, Rajkot, Gujarat, India Department of Mechanical Engineering, Sardar Vallabhbhai Patel Institute of Technology, Vasad, Gujarat, India 3 Department of Mechanical Engineering, Government Engineering College, Palanpur, Gujarat, India 4 Department of Mechanical Engineering, School of Engineering, R.K. University, Rajkot, Gujarat, India 2

Abstract Sand inclusion is an important defect in grey cast iron castings. On an average, this defect accounts for 30 to 40% of the total number of defects arising in the foundries. Sand inclusion is undesirable since it ends up in reducing the strength of the castings and worsens the finish of the casting surface. Hundred or more parameters are responsible for sand inclusion defect and hence it is cumbersome and difficult to control the casting defect. A detailed literature review of the prior work, mostly on sand inclusion for the last 50 years or so, is done in this paper to find appropriate and adequate parameters for formation of defect i.e. sand inclusion.

It was studied that exact and accurate remedies to eradicate sand inclusion was not easy. This paper describes the major defects occurring in resin bonded sand casting. Corrective action should be proposed and taken up on responsible parameters for improving the quality of ferrous castings and hence eliminate the sand inclusion defect.

Keywords: Casting, defect, design of experiments, feed system, pouring velocity

INTRODUCTION

Castings play an important role in manufacturing industry. It is major source of production from past decades. Machinery, agricultural industry, automobile industry etc. are major applications and major uses of castings. Ravi (2008) considers castings as a 6000 year ancient process. He found that process of casting is mentioned as shilpa shastra in several Sanskrit works and dhamatri (cupola), gharma aranmaya (crucible), bhastri (blower) are the equipment of castings which are mentioned in Rigveda. The major application of casting was in creating the God idols used for worshipping which can be confirmed from the cast idols of Gods seen in our ancient temples. We hardly recognize our daily close association with castings through these cast God idols we worship.

Cast iron components are manufactured usually in batch production by furan no bake casting process and 30 to 40% defects arise

such as slag and sand inclusion, shrinkage, blowholes etc. Sand inclusion is a major defect and mould material itself is responsible for the aforementioned defect. Components weaken due to sand inclusion and lack in properties like high bearing strength, high fluid pressure resistance and soundness which ultimately results in bad surface finish. In a grey cast iron foundry, total rejection on an average is about 8–10%. Rejection due to sand inclusion is about 30–40% of this amount that is 2–4% of total rejection.

This is a considerably high loss to the foundry considering large amount of heat energy wasted in melting the material, re melting of scrap, handling and inspection costs and has a demoralizing effect on the employees. While manufacturing the furan no bake castings, multiple number of parameters are to be controlled which are broadly categorized such as melting, moulding, sand and pouring parameters.

JoPRM (2016) 19-25 © STM Journals 2016. All Rights Reserved

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Journal of Production Research & Management

ISSN: 2249-4766(online), ISSN: 2347-9930(print) Volume 6, Issue 3 www.stmjournals.com

Improving the Performance of Foundry Industry through FNB Sand Mould System Shailee G. Acharya1,2,*, Jeetendra A. Vadher3, Kartik Kothari4 1

School of Engineering, R.K. University, Rajkot, Gujarat, India Department of Mechanical Engineering, Sardar Vallabhbhai Patel Institute of Technology, Vasad, Gujarat, India 3 Government Engineering College, Palanpur, Gujarat, India 4 Department of Mechanical Engineering, School of Engineering, R.K. University, Rajkot, Gujarat, India

2

Abstract There are many new advanced technologies for casting of metal, furan no bake (FNB) sand casting remains one of the fastest spreading and used casting processes today due to the lower cost of raw materials, a wide variety of castings with respect to composition and size, and the possibility of reclaiming the moulding sand. The FNB sand casting process is one of the most versatile processes in manufacturing as it is used for most metals and alloys with high melting temperature such as copper, molten metal iron and nickel. The FNB sand casting process consists of preparation of furan no bake mould, pouring molten metal into a FNB sand mould, allowing the metal to solidify, and casting product can then be machined to remove a casting product. The casting product is then machined to remove surface defects or imperfections or to add new features by standardized methods of machining such as milling, grinding, turning and polishing. The sand used in the furan no-bake process is typically bonded with hardener and resin to mould the sand. The sand can be recycled multiple times but each recycling requires the addition of hardener and resin. If the proportions of hardener and resin are not appropriate, the bonding strength of the furan no-bake sand mould would be reduced. This leads to a substantial reduction in the properties of the sand mould and as a result increases the rate of rejection in terms of casting defects. Defects in casting can negatively affect the bottom line of a foundry. They manifest as casting scrap costs. In many cases, the defects in casting may be seen at the machining stage, during usage of the component. The resultant value added costs and may sometimes be passed on to the foundry by their customer. These charges may be significantly extra than the cost of the production of casting itself. Foundry personnel must have the time to conduct a detailed analysis of casting defects, determine root causes and implement those which are most effective to prevent re/occurrence of these defects.

This paper mainly deals with the evaluation of quality of furan no-bake sand and its effect on major defects. This paper also covers causes and remedies of FNB (Furan No Bake) sand casting system; and increases in productivity of the plant by improving quality of sand and minimize defect of casting.

Keywords: FNB, catalyst, resin, gas porosity

INTRODUCTION

“The shortest route from component design to production.” is described as casting process.

Almost any metal can be melted, cast and the design of the casting can be extremely flexible.

This flexibility allows the metal casting industry to produce simple or complex, big or small components of numerous variety, whether they are produced single time as a prototype or thousands times for use in a

manufactured product. Kanicki reported that it is not a new thing that casting is the most chosen as the technique of metal forming for 80% of all manufactured goods and machinery for manufacturing [1]. The major issue of FNB sand mould casting is that so many parameters affect the quality of casting in terms of defects.

The quality of sand plays a very critical role in the occurrence of defect. Due to these, foundry is in intensive pressure to seek for more

JoPRM (2016) 26-30 © STM Journals 2016. All Rights Reserved

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Journal of Production Research & Management

ISSN: 2249-4766(online), ISSN: 2347-9930(print) Volume 6, Issue 3 www.stmjournals.com

Low Performance of Tenement Rating As a Source of Local Revenue in Nigeria: A Case for Introduction of Property and Land Use Charge 1

Elekwachi Chikwendu Michael1, Udobi Alexander Nnamdi2*

Department of Estate Management, Abia State Polytechnic, Aba, Nigeria Department of Estate Management, Nnamdi Azikiwe University, Awka, Nigeria

2

Abstract The 1999 constitution of federal republic of Nigeria in its fourth schedule 1(j), assigned local government councils in Nigeria exclusive function to assess privately owned houses or tenements for the purpose of levying tenement (property) rates which becomes a source of revenue for the local government councils. Over time, revenue accruing from this major and reliable source of internally generated revenue (IGR) for local government council has continued to dwindle and in some cases nothing is generated due to inefficient and the ineffective method of tenement rating administration in Nigeria. State governments faced with paucity of statutory revenue allocation from the federation account due to fall in the global oil prices, and realizing the huge potentials of landed property taxation as an alternative source of revenue, are now enacting laws to introduce what they called property and land use charge to replace tenement rate, since local government councils are unable to efficiently and effectively administer it. This paper examines the issues responsible for the low performance of tenement rating as a source of local revenue in Nigeria and prescribes measures towards achieving efficiency and effectiveness in the property and land use charge administration. The paper recommends among others that the method of assessment must be certain and the payer knows in advance his charge (tax) liability.

Keywords: Performance, tenement rating, property, land use charge, revenue

INTRODUCTION

Revenue is very important to governments all over the world. No government, be it federal, state or local can effectively provide the much needed basic public infrastructure and services to its citizens without revenue. Tenement rate a form of land/real property tax is adjudged the most reliable source of revenue to government at the local government level. It has played a major role in financing local governments in many developed nations of the world [1].

According to Igwe-Kalu, land/property tax administration in Canada and United States of America is left for local governments and forms a major source of revenue for this tier of government [2]. The same is said of United Kingdom, France, Sweden and Denmark where property-based taxes have been their main source of local revenue. As can be seen

in Table 1 below, property rate is a major source of revenue for local government in many developed countries of the world.

According to Igwe-Kalu, property taxes in Nigeria have a record of low performance [2].

Property rate accounts for between 0 and 0.5% of total revenue and between 0 and 6% of total internal revenue of local governments.

In Nigeria, the story is different. Gboyega noted that property rates remain a largely neglected source of local revenue in Nigeria, even though many studies have concluded that property rating is a reliable source of revenue (Ogbedengbe, Abengunde, Ogunba and Ighalo, 2003), hence the low revenue generation from tenement rate which is the reason why state governments are now enacting laws to introduce what they called property and land use charge.

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