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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:A multiattribute utility and cash-flow procedure for evaluating and selecting local raw materials for Nigerian agro-based industries
Author:Jolayemi, J.K.
Periodical:Discovery and Innovation
Notes:biblio. refs., ills.
Geographic terms:Nigeria
West Africa
Economics, Commerce
Raw materials
Mathematical models
Abstract:The selection of raw materials for both big and small agrobased industries in Nigeria is a big decision problem that should involve the analysis, synthesis and evaluation of considerable amounts of technical, economic, manufacturing and marketing information. In this paper a procedure is developed for evaluating and selecting local raw materials for agrobased industries. The procedure includes the development of a comprehensive list of criteria or factors for evaluating raw materials. The criteria are grouped into two - tangible and intangible factors. The list includes factors relating to the following areas: procurement (in the market, through cultivation), transportation, storage, processing and refining, manufacturing, compatibility of material to production schedules, marketability of final product, competitors' threats, other economic considerations, and revenue. A value tree is drawn for the intangible factors. The scenarios describing the different future states that can affect revenue and the various costs of inputs in a Third World environment are defined. A selection model based on multiattribute utility and net present value of profits over a planning horizon is developed. In order to illustrate how the model works, the author takes as example a brewing industry in Nigeria which has to substitute a local raw material, either sorghum, maize, rice, cassava, guinea corn or millet, for its imported major industrial input, barley malt. Bibliogr.