Modeling Financial Impact of Plant-Level Waste Reduction in Multi-Factory Manufacturing Environments

• Author(s): John Oluwaseun Olajide ; Bisayo Oluwatosin Otokiti ; Sharon Nwani ; Adebanji Samuel Ogunmokun ; Bolaji Iyanu Adekunle; Joyce Efekpogua Fiemotongha
• Paper ID: 1709009
• Page: 222-229
• Published Date: 28-02-2021
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 4 Issue 8 February-2021

Abstract

This study presents a comprehensive financial impact model designed to evaluate the economic benefits of plant-level waste reduction in multi-factory manufacturing environments. By integrating detailed waste metrics with financial and operational data across diverse manufacturing plants, the model quantifies cost savings, return on investment (ROI), and payback periods associated with waste minimization initiatives. The research highlights significant variation in financial outcomes between factories, driven by differences in scale, technology, and regulatory contexts, emphasizing the importance of customized waste reduction strategies. Sensitivity and scenario analyses further demonstrate how changes in waste reduction levels and cost assumptions affect financial performance, providing valuable insights for risk management and strategic planning. The validated framework supports manufacturing managers in making data-driven decisions that optimize resource allocation and enhance sustainability efforts across complex manufacturing networks. Limitations related to data consistency and indirect impacts are acknowledged, with future research directions outlined to expand the model’s applicability and precision. This work contributes a practical, scalable tool for advancing sustainable manufacturing by linking environmental initiatives to tangible financial benefits.

Keywords

Waste Reduction, Financial Impact Modeling, Multi-Factory Manufacturing, Cost Savings, Sensitivity Analysis, Sustainable Manufacturing

Citations

IRE Journals:
John Oluwaseun Olajide , Bisayo Oluwatosin Otokiti , Sharon Nwani , Adebanji Samuel Ogunmokun , Bolaji Iyanu Adekunle; Joyce Efekpogua Fiemotongha "Modeling Financial Impact of Plant-Level Waste Reduction in Multi-Factory Manufacturing Environments" Iconic Research And Engineering Journals Volume 4 Issue 8 2021 Page 222-229

IEEE:
John Oluwaseun Olajide , Bisayo Oluwatosin Otokiti , Sharon Nwani , Adebanji Samuel Ogunmokun , Bolaji Iyanu Adekunle; Joyce Efekpogua Fiemotongha "Modeling Financial Impact of Plant-Level Waste Reduction in Multi-Factory Manufacturing Environments" Iconic Research And Engineering Journals, 4(8)