Energy consumption is one of the most critical issues in the manufacturing
industry. The modeling, analysis and improvement of energy cost and consumption in multistage production system have been widely studied in many research
works. To summarize the latest development of research of energy consumption, a large amount of research work have been investigated. The review work
includes effect of design for the energy consumption and interactions between
many aspects related to industry. This research research combines energy systems from microscopic to macroscopic, which includes machine, manufacturing
line and factory level. This document begins with a review of energy consumption on machine level. Including the schema for machine states and transition of
energy, the process model for energy analysis and improvement methods. These
topics are further discussed in detail for different processes, eg. forming process, additive processes, etc. In the next part of the review the researches on
energy consumption for the multi-machine/manufacturing line level are introduced. Include the define of manufacturing line level, the logical benchmarking
of manufacturing lines, and the utilization of energy flows. At last, the detailed
way for the factory level energy management are studied. Including the factory
energy management system and the method of reduce energy consumption.
We compare major factor models and find that the Stambaugh and Yuan (2016) four-factor model is the overall winner in the time-series domain. The Hou, Xue, and Zhang (2015) q-factor model takes second place and the Fama and French (2015) five-factor model and the Barillas and Shanken (2018) six-factor model jointly take third place. But the pairwise cross-sectional R2 and the multiple model comparison tests show that the Hou, Xue, and Zhang (2015) q-factor model, the Fama and French (2015) five-factor and four-factor models, and the Barillas and Shanken (2018) six-factor model take equal first place in the horse race.
Shamim Ahmed, Ziwen Bu, Daniel Tsvetanov