Single-minute exchange of dies (SMED) is one of the most significant lean tools which reduces the required time for setup operations. The consideration of appropriate ergonomic interferences during the SMED implementation improves working conditions, productivity, and flexibility. The SMED literature has an opportunity for expansion with ergonomic assessment. Moreover, ergonomic assessment studies have various limitations in terms of a broad hierarchy of ergonomic factors and their weighting. Therefore, this study enriches the literature by providing the ergonomic assessment of the setup process through integrating multi-criteria decision-making (MCDM) into SMED. In this context, a wide hierarchy of ergonomic risk factors is compiled for ergonomic assessment. The Interval Valued Pythagorean Fuzzy Analytic Hierarchy Process (IVPF-AHP) method is used to determine the weights of factors. Then, Fuzzy Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) is used to prioritize setup tasks in terms of ergonomic factors by using the Interval Valued Pythagorean Fuzzy Sets (IVPFSs). The proposed model was validated by applying it to a real-life manufacturing system in the white goods supplier industry. The application results justify the proposed model with a setup time reduction of 58% and an ergonomic improvement of 19%.

Purpose: An appropriate space allocation among different residence types gives higher profitability and liquidity for cash flow management in real estate projects for developers. Thereby, a balance between debt and equity should be kept for capital formation in developers where high level of cost, profit and risk exists. The purpose of this paper is to provide cash flow optimization under debt and equity financing while providing an appropriate space allocation of residence types via synchronous consideration of profitability and liquidity.Design/methodology/approach: A novel optimization methodology that includes project financing, optimization and experimental design modules is proposed. The first module, project financing, considers the flexibility of utilizing one or both of debt financing and equity financing when making capital. The optimization module addresses space allocation among different residence types for a construction while maximizing profitability and liquidity using two mixed-integer linear programming models in a pre-emptive manner. The experimental design module assesses the effects of decisive parameters within the methodology via multivariate analysis of variance (MANOVA).Findings: The proposed methodology is applied to a real-life residential project in Istanbul. The optimization module yielded 42.5% profitability via the first linear programming model and 2.2% trade-off between liquidity and profitability while minimizing the payback period by the second linear programming model. Meanwhile, MANOVA results showed that profit per square meter and sale rate trends are the most prominent factors considering their significant effects on net present value and payback period.Originality/value: To the best knowledge of the author, related papers focused only on profitability under equity financing. Liquidity (as an objective) and equity financing (as a financing method) have not been handled. Hence, this paper not only performs profitability and liquidity-oriented cash flow optimization under debt and equity financing but also optimizes space allocation of residences for the first time.