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Evaluation and analysis of industrial processes with the use of data envelopment analysis (DEA)

Gkountaropoulos Vasileios

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Summary

Nowadays, considering that most industrial processes are commonly used amongst many industries, and are not used only by the ones distinguished by their massive economic activities, as well as the lack of risk in their decision-making process, the necessity for the analysis and evaluation of these processes, is critical. Firstly, in this diploma thesis, there will be a theoretical explanation of some terms regarding the industrial processes. These processes are defined by the total amount of industrial resources and operations found in a production unit and their analysis aims at the optimization of customer products and services. Subsequently, with the help of an industry, specializing in products that control and distribute electrical current, for example fuses, the analysis and evaluation of their production processes will be made by using a method called Data Envelopment Analysis (DEA). The DEA method defines these processes as decision-making units (DMUs). At this point, input data (incoming resources) provide some output data (outgoing resources – results), both of which are evaluated. Therefore, the efficiency of the company is assessed. As input data, or input variables, are considered some key resources of the company (money, cost, time, staff, facilities), while output variables relate to their results (Customer satisfaction, profit, product innovation). In conclusion, the results of the DEA method will identify the processes with low efficiency and will create a framework where the industry will be able to act focused and improve the productive goals it has set.

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