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Demonstration Plant
A demonstration plant is an industrial system used to validate an industrial process for commercialization. It is larger than a pilot plant, and is the final stage in research, development and demonstration of a new process. Demonstration plants are built in a range of sizes, and the term 'demonstration plant' can sometimes be used interchangeably with 'pilot plant.' However, demonstration plants are generally larger than pilot plants, and are often constructed following a successful trial in a pilot scale size. Demonstration plants are used to prove a process works at industrial scale, and is financially viable in its intended industry. Goals The goals of a demonstration plant are generally as follows: * Prove a new technology using commercially available, pre-tested equipment. * Show a reasonable return on investment (ROI) for the capital that will be invested in a full-scale system, including the operational costs of running such a system. * In some cases, to start bringing pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EPIC Systems Demonstration Plant
Epic commonly refers to: * Epic poetry, a long narrative poem celebrating heroic deeds and events significant to a culture or nation * Epic film, a genre of film with heroic elements Epic or EPIC may also refer to: Arts, entertainment, and media Films * ''Epic'' (1984 film) * ''Epic'' (2013 film) Gaming * ''Epic'' (game), a series of wargames * ''Epic'' (video game), a 1992 video game * ''Epic: Battle for Moonhaven'', a 2013 video game by Gameloft based on the film ''Epic'' (2013) * ''Epic Card Game'', a 2015 strategy card game by White Wizard Games Literature * ''Epic'' (Kostick novel), a 2004 novel by Conor Kostick * ''Epic Illustrated'', a 1980s anthology series published by Marvel Comics Music Albums * ''Epic'' (Blood on the Dance Floor album), 2011 * ''Epic'' (Borknagar album), 2004 * ''Epic'' (R. Kelly album), 2010 * ''Epic'' (Sharon Van Etten album), 2010 * ''Epic'' (Tang Dynasty album), 1998 Songs * "Epic" (Faith No More song), 1990 * "Epic" (Sandro Silva ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercialization
Commercialization or commercialisation is the process of introducing a new product or production method into commerce—making it available on the market. The term often connotes especially entry into the mass market (as opposed to entry into earlier niche markets), but it also includes a move from the laboratory into (even limited) commerce. Many technologies begin in a research and development laboratory or in an inventor's workshop and may not be practical for commercial use in their infancy (as prototypes). The "development" segment of the " research and development" spectrum requires time and money as systems are engineered with a view to making the product or method a paying commercial proposition. The product launch of a new product is the final stage of new product development - at this point advertising, sales promotion, and other marketing efforts encourage commercial adoption of the product or method. Beyond commercialization (in which technologies enter the busines ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pilot Plant
A pilot plant is a pre-commercial production system that employs new production technology and/or produces small volumes of new technology-based products, mainly for the purpose of learning about the new technology. The knowledge obtained is then used for design of full-scale production systems and commercial products, as well as for identification of further research objectives and support of investment decisions. Other (non-technical) purposes include gaining public support for new technologies and questioning government regulations. Pilot plant is a relative term in the sense that pilot plants are typically smaller than full-scale production plants, but are built in a range of sizes. Also, as pilot plants are intended for learning, they typically are more flexible, possibly at the expense of economy. Some pilot plants are built in laboratories using stock lab equipment, while others require substantial engineering efforts, cost millions of dollars, and are custom-assembled and f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Return On Investment
Return on investment (ROI) or return on costs (ROC) is a ratio between net income (over a period) and investment (costs resulting from an investment of some resources at a point in time). A high ROI means the investment's gains compare favourably to its cost. As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiencies of several different investments.Return On Investment – ROI , Investopedia as accessed 8 January 2013 In economic terms, it is one way of relating profits to capital invested. Purpose In business, the pur ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Operational Costs
Operating costs or operational costs, are the expenses which are related to the operation of a business, or to the operation of a device, component, piece of equipment or facility. They are the cost of resources used by an organization just to maintain its existence. http://www.operatingcosts.com Business operating costs For a commercial enterprise, operating costs fall into three broad categories: * fixed costs, which are the same whether the operation is closed or running at 100% capacity. Fixed Costs include items such as the rent of the building. These generally have to be paid regardless of what state the business is in. It never changes * variable costs, which may increase depending on whether more production is done, and how it is done (producing 100 items of product might require 10 days of normal time or take 7 days if overtime is used. It may be more or less expensive to use overtime production depending on whether faster production means the product can be more profit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Target Market
A target market, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service. The target market typically consists of consumers who exhibit similar characteristics (such as age, location, income or lifestyle) and are considered most likely to buy a business's market offerings or are likely to be the most profitable segments for the business to service by OCHOM Once the target market(s) have been identified, the business will normally tailor the marketing mix (4 Ps) with the needs and expectations of the target in mind. This may involve carrying out additional consumer research in order to gain deep insights into the typical consumer's motivations, purchasing habits and media usage patterns. The choice of a suitable target market is one of the final steps in the market segmentation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
3D Modeling
In 3D computer graphics, 3D modeling is the process of developing a mathematical coordinate-based representation of any surface of an object (inanimate or living) in three dimensions via specialized software by manipulating edges, vertices, and polygons in a simulated 3D space. Three-dimensional (3D) models represent a physical body using a collection of points in 3D space, connected by various geometric entities such as triangles, lines, curved surfaces, etc. Being a collection of data ( points and other information), 3D models can be created manually, algorithmically (procedural modeling), or by scanning. Their surfaces may be further defined with texture mapping. Outline The product is called a 3D model. Someone who works with 3D models may be referred to as a 3D artist or a 3D modeler. A 3D Model can also be displayed as a two-dimensional image through a process called 3D rendering or used in a computer simulation of physical phenomena. 3D Models may be created au ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computational Fluid Dynamics
Computational fluid dynamics (CFD) is a branch of fluid mechanics that uses numerical analysis and data structures to analyze and solve problems that involve fluid flows. Computers are used to perform the calculations required to simulate the free-stream flow of the fluid, and the interaction of the fluid ( liquids and gases) with surfaces defined by boundary conditions. With high-speed supercomputers, better solutions can be achieved, and are often required to solve the largest and most complex problems. Ongoing research yields software that improves the accuracy and speed of complex simulation scenarios such as transonic or turbulent flows. Initial validation of such software is typically performed using experimental apparatus such as wind tunnels. In addition, previously performed analytical or empirical analysis of a particular problem can be used for comparison. A final validation is often performed using full-scale testing, such as flight tests. CFD is applied to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathematical Model
A mathematical model is a description of a system using mathematical concepts and language. The process of developing a mathematical model is termed mathematical modeling. Mathematical models are used in the natural sciences (such as physics, biology, earth science, chemistry) and engineering disciplines (such as computer science, electrical engineering), as well as in non-physical systems such as the social sciences (such as economics, psychology, sociology, political science). The use of mathematical models to solve problems in business or military operations is a large part of the field of operations research. Mathematical models are also used in music, linguistics, and philosophy (for example, intensively in analytic philosophy). A model may help to explain a system and to study the effects of different components, and to make predictions about behavior. Elements of a mathematical model Mathematical models can take many forms, including dynamical systems, statisti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pilot Plant
A pilot plant is a pre-commercial production system that employs new production technology and/or produces small volumes of new technology-based products, mainly for the purpose of learning about the new technology. The knowledge obtained is then used for design of full-scale production systems and commercial products, as well as for identification of further research objectives and support of investment decisions. Other (non-technical) purposes include gaining public support for new technologies and questioning government regulations. Pilot plant is a relative term in the sense that pilot plants are typically smaller than full-scale production plants, but are built in a range of sizes. Also, as pilot plants are intended for learning, they typically are more flexible, possibly at the expense of economy. Some pilot plants are built in laboratories using stock lab equipment, while others require substantial engineering efforts, cost millions of dollars, and are custom-assembled and f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Operations Research
Operations research ( en-GB, operational research) (U.S. Air Force Specialty Code: Operations Analysis), often shortened to the initialism OR, is a discipline that deals with the development and application of analytical methods to improve decision-making. It is considered to be a subfield of mathematical sciences. The term management science is occasionally used as a synonym. Employing techniques from other mathematical sciences, such as modeling, statistics, and optimization, operations research arrives at optimal or near-optimal solutions to decision-making problems. Because of its emphasis on practical applications, operations research has overlap with many other disciplines, notably industrial engineering. Operations research is often concerned with determining the extreme values of some real-world objective: the maximum (of profit, performance, or yield) or minimum (of loss, risk, or cost). Originating in military efforts before World War II, its techniques have grown to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chemical Engineering
Chemical engineering is an engineering field which deals with the study of operation and design of chemical plants as well as methods of improving production. Chemical engineers develop economical commercial processes to convert raw materials into useful products. Chemical engineering uses principles of chemistry, physics, mathematics, biology, and economics to efficiently use, produce, design, transport and transform energy and materials. The work of chemical engineers can range from the utilization of nanotechnology and nanomaterials in the laboratory to large-scale industrial processes that convert chemicals, raw materials, living cells, microorganisms, and energy into useful forms and products. Chemical engineers are involved in many aspects of plant design and operation, including safety and hazard assessments, process design and analysis, modeling, control engineering, chemical reaction engineering, nuclear engineering, biological engineering, construction specification, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
