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Exergoeconomic Analysis as a Cost-Control Mechanism in Manufacturing Operations: Focused on Industrial Beverage Carbonation Systems

Exergoeconomic Analysis as a Cost-Control Mechanism in Manufacturing Operations: Focused on Industrial Beverage Carbonation Systems

Chukwuemeka Joshua Okereke, Olumuyiwa A. Lasode,, Idehai O. Ohijeagbon
Copyright: © 2022 |Pages: 35
ISBN13: 9781668423394|ISBN10: 1668423391|ISBN13 Softcover: 9781668423400|EISBN13: 9781668423417
DOI: 10.4018/978-1-6684-2339-4.ch009
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MLA

Okereke, Chukwuemeka Joshua, et al. "Exergoeconomic Analysis as a Cost-Control Mechanism in Manufacturing Operations: Focused on Industrial Beverage Carbonation Systems." Creativity Models for Innovation in Management and Engineering, edited by Carolina Machado and J. Paulo Davim, IGI Global, 2022, pp. 211-245. https://doi.org/10.4018/978-1-6684-2339-4.ch009

APA

Okereke, C. J., Lasode,, O. A., & Ohijeagbon, I. O. (2022). Exergoeconomic Analysis as a Cost-Control Mechanism in Manufacturing Operations: Focused on Industrial Beverage Carbonation Systems. In C. Machado & J. Davim (Eds.), Creativity Models for Innovation in Management and Engineering (pp. 211-245). IGI Global. https://doi.org/10.4018/978-1-6684-2339-4.ch009

Chicago

Okereke, Chukwuemeka Joshua, Olumuyiwa A. Lasode,, and Idehai O. Ohijeagbon. "Exergoeconomic Analysis as a Cost-Control Mechanism in Manufacturing Operations: Focused on Industrial Beverage Carbonation Systems." In Creativity Models for Innovation in Management and Engineering, edited by Carolina Machado and J. Paulo Davim, 211-245. Hershey, PA: IGI Global, 2022. https://doi.org/10.4018/978-1-6684-2339-4.ch009

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Abstract

The aim of the study is to demonstrate the application of exergoeconomic analysis as a cost control mechanism in manufacturing operations with a focus on industrial beverage carbonation system. Exergoeconomic analysis is a thermodynamic tool that can identify cost rate of exergy destruction (hidden cost) associated with a machine or a system that cannot be identified using typical cost management techniques applied in industries. Exergy analysis was performed to examine the performance parameters of each unit in the system using mass and energy balance. Cost rate of exergy destruction was performed using the thermoeconomic analysis of energy systems software. The study reviews that the total hidden cost in the carbonation system was $777.31/hr, while the total cost rate related to the investment and maintenance of the system was $45.13/hr. The study concluded that reduction of exergy destruction in the mixer and other subsystems within the carbonation system is very crucial to the improvement of the cost rate in beverage production.

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