Exergoeconomic analysis is a tool used to identify hidden costs associated with a machine or a system that cannot be identified using typical cost management techniques applied in the industry. While exergoeconomic analysis finds applications in power system innovations and optimization, it has not yet been harnessed by the manufacturing industry to reduce operating costs. The purpose of this study is to use exergoeconomic analysis to identify hidden costs in manufacturing processes, with a focus on the industrial beverage mixer system. The study proposes a methodology of identifying the hidden financial losses in the system and recommends modifying the systems operation and design as a measure to reduce costs and increase profitability. Thermodynamic and economic data for the study were obtained from manufacturing plants. An exergy cost analysis was performed using thermoeconomic analysis software. Exergoeconomic values and variables were obtained using equations based on extant literature. The results reveal that the mixer possesses a low exergoeconomic factor of 5.50% owing to the high irreversibility of the H2O reservoir, flow-mix reservoir, and carbonator. The total hidden cost of the system equaled 733.04 $/h, of which 99.0% is contributed by the mixer. Improvements to the deaeration technique for the H2O reservoir of the mixer component, as well as the H2O treatment procedure, can reduce the irreversibility of the H2O reservoir and the hidden costs.
Keywords: Beverage mixer; Cost analysis; Energy; Exergoeconomics; Manufacturing; Mechanical engineering; Thermodynamics.
© 2020 The Author(s).