Vol. 2011 No. 1 (2011)

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Methodological Evaluation of South African Manufacturing Systems Using Time-Series Forecasting Models for Cost-Effectiveness Measurement

Siyabonga Mkhize, Department of Electrical Engineering, University of Cape Town Khathu Maseleko, Department of Mechanical Engineering, University of Cape Town Nokubongiseni Dlamini, Department of Electrical Engineering, University of the Witwatersrand
DOI: 10.5281/zenodo.18927802
Published: December 2, 2011

Abstract

This study examines South African manufacturing systems through a methodological lens, applying time-series forecasting models to evaluate cost-effectiveness. A time-series forecasting model was employed to analyse historical data from selected manufacturing plants. Robust standard errors were used for inference, ensuring accurate cost-effectiveness measurements. Significant trends indicate that reducing inventory levels by 10% can lead to a 7% decrease in operational costs over the next fiscal year. The application of time-series forecasting models revealed clear cost-saving potential within South African manufacturing sectors, validating the method's utility for cost-effectiveness measurement. Manufacturers are encouraged to implement inventory management strategies that align with the findings to enhance operational efficiency and reduce costs. The maintenance outcome was modelled as $Y_{it}=\beta_0+\beta_1X_{it}+u_i+\varepsilon_{it}$, with robustness checked using heteroskedasticity-consistent errors.

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How to Cite

Siyabonga Mkhize, Khathu Maseleko, Nokubongiseni Dlamini (2011). Methodological Evaluation of South African Manufacturing Systems Using Time-Series Forecasting Models for Cost-Effectiveness Measurement. Journal of Civil Infrastructure and Environmental Engineering in Africa, Vol. 2011 No. 1 (2011). https://doi.org/10.5281/zenodo.18927802

Keywords

Sub-SaharanAfricanEconometricsSystemsThinkingTimeSeriesAnalysisForecastingModelsManufacturingEconomics

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Vol. 2011 No. 1 (2011)
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Journal of Civil Infrastructure and Environmental Engineering in Africa

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