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Cost minimization,Energy minimization and Waste minimization Methods

The act of lowering something to its smallest value .In mathematics it is the process of finding the minimum value of a function. Minimization is a largely non random method of treatment allocation for a clinical trials. It was originally proposed by Taves and by Poccok and Simon.We can further describe the process of minimization by the help of Following methods

  • Cost minimization method.
  • Energy minimization method.
  • Waste minimization method.

So let us describe these methods one by one

1-Cost Minimization Method

Definition

The process or goal of incurring the least possible opportunity cost in the pursuit of a given activity.

Cost minimization is comparable to other objects including utility maximization and profit maximization. This goal however is generally used when circumstances constrain a decision. For example a government agency has been assigned the task of building a bridge it must now do so at the lowest cost possible.

Minimization Analysis

Cost minimization is a method of calculating drug costs to project the least costly drug. It also describes a cost of preparing a dose. This method of cost evaluation is the one used most often in evaluating the

Cost of a specific drug. It can only be used to compare two products that have been shown to be equivalent in dose and therapeutic effect. Therefore this method is most useful for comparing generic and therapeutic equivalents or drugs. In many cases there is no reliable equivalence between two products and if therapeutic equivalence cannot be demonstrated then cost minimization analysis is inappropriate.

If a new therapy is not effective, than an existing one than it would normally it would normally justify the same cost as the existing therapy. This is often not as simple as it may seem as it requires sound trial based information on the doses of the two drugs required for equivalent efficacy. An alternative is tousling the PDDs for the two drugs in the marketplace to determine the relative prices. This is a pragmatic approach but assumes that the two drugs are actually used at equivalently effective doses and this may not always be the case.

Cost Benefit Analysis

The evaluation assesses benefit in units of monetary value. If a disease causes a worker to take time off work presenting or curing the condition would confer direct economic benefit. We sometimes see estimates of the economic costs of diseases for example a 1999 estimate showed that obesity costs Canada around 1.8 billion dollars. The cost of obesity is Canada.

Preventive Programs:

Estimating the cost effectiveness of a preventing program is more complex. Take the exam of an exercise program for expectants mothers designed to reduce the incidence of birth complications.

2-Energy Minimization Method

Definition

The process of finding arrangement in space of a collection of atoms where according to some computational model of chemical bonding the net inter atomic force on each is called energy minimization also called energy optimization.

Energy Minimization Methods

Knowing the stable conformers of a molecule is important because it allows us to understand properties and behavior based upon structural considerations. When a molecule is built in a computational chemistry software package the initial geometry does not necessarily correspond to one of the stable conformers. Therefore energy minimization is usually carried out to determine a stable conformer this same process also is commonly referred to as geometry optimization. Energy minimization is a numerical procedure for finding a minimum on the potential energy surface starting from a higher energy initial structure. During energy minimization the geometry is changed in a stepwise fashion so that the energy of the molecule is reduced from steps 2 to 3 to 4.After a number of steps a local or global minimum on the potential energy surface is reached.

3-Waste Minimization Method

Definition

Waste minimization is a practice through which the quantity of generated waste is reduced with the main objective of producing the least of unwanted by products through the optimal use of raw materials

Water and energy. Waste minimization does not include waste treatment that is any process

Designed to change the physical chemical or biological composition of wasted streams. For example compacting neutralizing diluting and incineration are not typically considered waste minimization practices. EPAs preferred approach to materials management includes source reduction recycling or

Energy recovery, Energy treatment and then finally disposal.

Benefits of Waste Minimization Practice

Waste minimization practices not only the company or the waste generator but the government regulatory agency as well. Which includes increase of production but lessen the waste generation and saving treatment and disposal cost and optimize use of resources like water and to promote good public image on environmental protection? Waste Minimization Practice for Washing Process and Other Water Intensive Activities Big amount of wastewater flow is coming from washing activities. Simple cleaning process saves allot of water. To minimize the generation of waste water complete survey of its source shall be made which includes identification of its flow its quantity frequency of its generation review of the site drainage system and initiation of sampling. Some techniques for reducing the amount of wastewater for washing consist of

-The use of low pressure instead of high pressure

-Removing of solid residuals inks oils chemical spills

-Proper scheduling of production.

Conclusion:

Waste minimization requires commitment from the top management and its staff. It is the company’s responsibility to make sure that waste management programs are timely implemented and staff shall be properly motivated trained and regularly updated of the results of the program. Effective waste minimization can only take place with full knowledge of the sources of waste by products the quantities produced and the sources of contaminants. The benefits range from cost savings to risk avoidance to carbon reductions and more. With so much to gain the only thin manufacturers has to lose is waste.

Author :Center for Recent Innovations - European Union
Pulished date: 05-29-16
Pulisher:
Springer with the Collaboration of LearnRnd
Source URL:http://www.learnrnd.com/detail.php?id=Cost_minimization,Energy_minimization_and_Waste_minimization_Methods

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