Search results for: demand forecasting
3393 An Agent-Based Approach to Examine Interactions of Firms for Investment Revival
Authors: Ichiro Takahashi
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One conundrum that macroeconomic theory faces is to explain how an economy can revive from depression, in which the aggregate demand has fallen substantially below its productive capacity. This paper examines an autonomous stabilizing mechanism using an agent-based Wicksell-Keynes macroeconomic model. This paper focuses on the effects of the number of firms and the length of the gestation period for investment that are often assumed to be one in a mainstream macroeconomic model. The simulations found the virtual economy was highly unstable, or more precisely, collapsing when these parameters are fixed at one. This finding may even suggest us to question the legitimacy of these common assumptions. A perpetual decline in capital stock will eventually encourage investment if the capital stock is short-lived because an inactive investment will result in insufficient productive capacity. However, for an economy characterized by a roundabout production method, a gradual decline in productive capacity may not be able to fall below the aggregate demand that is also shrinking. Naturally, one would then ask if our economy cannot rely on an external stimulus such as population growth and technological progress to revive investment, what factors would provide such a buoyancy for stimulating investments? The current paper attempts to answer this question by employing the artificial macroeconomic model mentioned above. The baseline model has the following three features: (1) the multi-period gestation for investment, (2) a large number of heterogeneous firms, (3) demand-constrained firms. The instability is a consequence of the following dynamic interactions. (a) A multiple-period gestation period means that once a firm starts a new investment, it continues to invest over some subsequent periods. During these gestation periods, the excess demand created by the investing firm will spill over to ignite new investment of other firms that are supplying investment goods: the presence of multi-period gestation for investment provides a field for investment interactions. Conversely, the excess demand for investment goods tends to fade away before it develops into a full-fledged boom if the gestation period of investment is short. (b) A strong demand in the goods market tends to raise the price level, thereby lowering real wages. This reduction of real wages creates two opposing effects on the aggregate demand through the following two channels: (1) a reduction in the real labor income, and (2) an increase in the labor demand due to the principle of equality between the marginal labor productivity and real wage (referred as the Walrasian labor demand). If there is only a single firm, a lower real wage will increase its Walrasian labor demand, thereby an actual labor demand tends to be determined by the derived labor demand. Thus, the second positive effect would not work effectively. In contrast, for an economy with a large number of firms, Walrasian firms will increase employment. This interaction among heterogeneous firms is a key for stability. A single firm cannot expect the benefit of such an increased aggregate demand from other firms.Keywords: agent-based macroeconomic model, business cycle, demand constraint, gestation period, representative agent model, stability
Procedia PDF Downloads 1633392 Obsessive-Compulsive Disorder: Development of Demand-Controlled Deep Brain Stimulation with Methods from Stochastic Phase Resetting
Authors: Mahdi Akhbardeh
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Synchronization of neuronal firing is a hallmark of several neurological diseases. Recently, stimulation techniques have been developed which make it possible to desynchronize oscillatory neuronal activity in a mild and effective way, without suppressing the neurons' firing. As yet, these techniques are being used to establish demand-controlled deep brain stimulation (DBS) techniques for the therapy of movement disorders like severe Parkinson's disease or essential tremor. We here present a first conceptualization suggesting that the nucleus accumbens is a promising target for the standard, that is, permanent high-frequency, DBS in patients with severe and chronic obsessive-compulsive disorder (OCD). In addition, we explain how demand-controlled DBS techniques may be applied to the therapy of OCD in those cases that are refractory to behavioral therapies and pharmacological treatment.Keywords: stereotactic neurosurgery, deep brain stimulation, obsessive-compulsive disorder, phase resetting
Procedia PDF Downloads 5123391 Addressing the Water Shortage in Beijing: Increasing Water Use Efficiency in Domestic Sector
Authors: Chenhong Peng
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Beijing, the capital city of China, is running out of water. The water resource per capita in Beijing is only 106 cubic meter, accounts for 5% of the country’s average level and less than 2% of the world average level. The tension between water supply and demand is extremely serious. For one hand, the surface and ground water have been over-exploited during the last decades; for the other hand, water demand keep increasing as the result of population and economic growth. There is a massive gap between water supply and demand. This paper will focus on addressing the water shortage in Beijing city by increasing water use efficiency in domestic sector. First, we will emphasize on the changing structure of water supply and demand in Beijing under the economic development and restructure during the last decade. Second, by analyzing the water use efficiency in agriculture, industry and domestic sectors in Beijing, we identify that the key determinant for addressing the water crisis is to increase the water use efficiency in domestic sector. Third, this article will explore the two primary causes for the water use inefficiency in Beijing: The ineffective water pricing policy and the poor water education and communication policy. Finally, policy recommendation will offered to improve the water use efficiency in domestic sector by making and implementing an effective water pricing policy and people-engaged water education and communication policy.Keywords: Beijing, water use efficiency, domestic sector, water pricing policy, water education policy
Procedia PDF Downloads 5423390 Verification of Simulated Accumulated Precipitation
Authors: Nato Kutaladze, George Mikuchadze, Giorgi Sokhadze
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Precipitation forecasts are one of the most demanding applications in numerical weather prediction (NWP). Georgia, as the whole Caucasian region, is characterized by very complex topography. The country territory is prone to flash floods and mudflows, quantitative precipitation estimation (QPE) and quantitative precipitation forecast (QPF) at any leading time are very important for Georgia. In this study, advanced research weather forecasting model’s skill in QPF is investigated over Georgia’s territory. We have analyzed several convection parameterization and microphysical scheme combinations for different rainy episodes and heavy rainy phenomena. We estimate errors and biases in accumulated 6 h precipitation using different spatial resolution during model performance verification for 12-hour and 24-hour lead time against corresponding rain gouge observations and satellite data. Various statistical parameters have been calculated for the 8-month comparison period, and some skills of model simulation have been evaluated. Our focus is on the formation and organization of convective precipitation systems in a low-mountain region. Several problems in connection with QPF have been identified for mountain regions, which include the overestimation and underestimation of precipitation on the windward and lee side of the mountains, respectively, and a phase error in the diurnal cycle of precipitation leading to the onset of convective precipitation in model forecasts several hours too early.Keywords: extremal dependence index, false alarm, numerical weather prediction, quantitative precipitation forecasting
Procedia PDF Downloads 1503389 An Application of Bidirectional Option Contract to Coordinate a Dyadic Fashion Apparel Supply Chain
Authors: Arnab Adhikari, Arnab Bisi
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Since the inception, the fashion apparel supply chain is facing the problem of high demand uncertainty. Often the demand volatility compels the corresponding supply chain member to incur substantial holding cost and opportunity cost in case of the overproduction and the underproduction scenario, respectively. It leads to an uncoordinated fashion apparel supply chain. There exist several scholarly works to achieve coordination in the fashion apparel supply chain by employing the different contracts such as the buyback contract, the revenue sharing contract, the option contract, and so on. Specially, the application of option contract in the apparel industry becomes prevalent with the changing global scenario. Exploration of existing literature related to the option contract reveals that most of the research works concentrate on the one direction demand adjustment i.e. either to match the demand upwards or downwards. Here, we present a holistic approach to coordinate a dyadic fashion apparel supply chain comprising one manufacturer and one retailer with the help of bidirectional option contract. We show a combination of wholesale price contract and bidirectional option contract can coordinate the under expanded supply chain. We also propose a framework that captures the variation of the apparel retailer’s order quantity and the apparel manufacturer’s production quantity with the changing exercise price for the different ranges of the option price. We analytically explore that corresponding cost parameters of the supply chain members along with the nature of demand distribution play an instrumental role in the coordination as well as the retailer’s ordering decision.Keywords: fashion apparel supply chain, supply chain coordination, wholesale price contract, bidirectional option contract
Procedia PDF Downloads 4423388 CNC Milling-Drilling Machine Cutting Tool Holder
Authors: Hasan Al Dabbas
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In this paper, it is addressed that the mechanical machinery captures a major share of innovation in drilling and milling chucks technology. Users demand higher speeds in milling because they are cutting more aluminum and are relying on higher speeds to eliminate secondary finishing operations. To meet that demand, milling-machine builders have enhanced their machine’s rigidity. Moreover, faster cutting has caught up with boring mills. Cooling these machine’s internal components is a challenge at high speeds. Another trend predicted that it is more use of controlled axes to let the machines do many more operations on 5 sides without having to move or re-fix the work. Advances of technology in mechanical engineering have helped to make high-speed machining equipment. To accompany these changes in milling and drilling machines chucks, the demand of easiest software is increased. An open architecture controller is being sought that would allow flexibility and information exchange.Keywords: drilling, milling, chucks, cutting edges, tools, machines
Procedia PDF Downloads 5733387 Probabilistic Model for Evaluating Seismic Soil Liquefaction Based on Energy Approach
Authors: Hamid Rostami, Ali Fallah Yeznabad, Mohammad H. Baziar
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The energy-based method for evaluating seismic soil liquefaction has two main sections. First is the demand energy, which is dissipated energy of earthquake at a site, and second is the capacity energy as a representation of soil resistance against liquefaction hazard. In this study, using a statistical analysis of recorded data by 14 down-hole array sites in California, an empirical equation was developed to estimate the demand energy at sites. Because determination of capacity energy at a site needs to calculate several site calibration factors, which are obtained by experimental tests, in this study the standard penetration test (SPT) N-value was assumed as an alternative to the capacity energy at a site. Based on this assumption, the empirical equation was employed to calculate the demand energy for 193 liquefied and no-liquefied sites and then these amounts were plotted versus the corresponding SPT numbers for all sites. Subsequently, a discrimination analysis was employed to determine the equations of several boundary curves for various liquefaction likelihoods. Finally, a comparison was made between the probabilistic model and the commonly used stress method. As a conclusion, the results clearly showed that energy-based method can be more reliable than conventional stress-based method in evaluation of liquefaction occurrence.Keywords: energy demand, liquefaction, probabilistic analysis, SPT number
Procedia PDF Downloads 3693386 Using IoT on Single Input Multiple Outputs (SIMO) DC–DC Converter to Control Smart-home
Authors: Auwal Mustapha Imam
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The aim of the energy management system is to monitor and control utilization, access, optimize and manage energy availability. This can be realized through real-time analyses and energy sources and loads data control in a predictive way. Smart-home monitoring and control provide convenience and cost savings by controlling appliances, lights, thermostats and other loads. There may be different categories of loads in the various homes, and the homeowner may wish to control access to solar-generated energy to protect the storage from draining completely. Controlling the power system operation by managing the converter output power and controlling how it feeds the appliances will satisfy the residential load demand. The Internet of Things (IoT) provides an attractive technological platform to connect the two and make home automation and domestic energy utilization easier and more attractive. This paper presents the use of IoT-based control topology to monitor and control power distribution and consumption by DC loads connected to single-input multiple outputs (SIMO) DC-DC converter, thereby reducing leakages, enhancing performance and reducing human efforts. A SIMO converter was first developed and integrated with the IoT/Raspberry Pi control topology, which enables the user to monitor and control power scheduling and load forecasting via an Android app.Keywords: flyback, converter, DC-DC, photovoltaic, SIMO
Procedia PDF Downloads 493385 International Classification of Primary Care as a Reference for Coding the Demand for Care in Primary Health Care
Authors: Souhir Chelly, Chahida Harizi, Aicha Hechaichi, Sihem Aissaoui, Leila Ben Ayed, Maha Bergaoui, Mohamed Kouni Chahed
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Introduction: The International Classification of Primary Care (ICPC) is part of the morbidity classification system. It had 17 chapters, and each is coded by an alphanumeric code: the letter corresponds to the chapter, the number to a paragraph in the chapter. The objective of this study is to show the utility of this classification in the coding of the reasons for demand for care in Primary health care (PHC), its advantages and limits. Methods: This is a cross-sectional descriptive study conducted in 4 PHC in Ariana district. Data on the demand for care during 2 days in the same week were collected. The coding of the information was done according to the CISP. The data was entered and analyzed by the EPI Info 7 software. Results: A total of 523 demands for care were investigated. The patients who came for the consultation are predominantly female (62.72%). Most of the consultants are young with an average age of 35 ± 26 years. In the ICPC, there are 7 rubrics: 'infections' is the most common reason with 49.9%, 'other diagnoses' with 40.2%, 'symptoms and complaints' with 5.5%, 'trauma' with 2.1%, 'procedures' with 2.1% and 'neoplasm' with 0.3%. The main advantage of the ICPC is the fact of being a standardized tool. It is very suitable for classification of the reasons for demand for care in PHC according to their specificity, capacity to be used in a computerized medical file of the PHC. Its current limitations are related to the difficulty of classification of some reasons for demand for care. Conclusion: The ICPC has been developed to provide healthcare with a coding reference that takes into account their specificity. The CIM is in its 10th revision; it would gain from revision to revision to be more efficient to be generalized and used by the teams of PHC.Keywords: international classification of primary care, medical file, primary health care, Tunisia
Procedia PDF Downloads 2693384 Understanding the Safety Impacts of Imbalances in Truck Parking Supply and Demand
Authors: Rahil Saeedi
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The imbalance in truck parking supply and demand can create important safety issues for truck drivers and the public. Research has shown that breaks at specific intervals can increase drivers’ alertness by reducing the monotony of the task. However, if fatigued truck drivers are unable to find a safe parking spot for rest, they may continue to drive or choose to park at remote and insecure areas or undesignated locations. All of these situations pose serious safety and security risks to truck drivers and other roadway users. This study uses 5-year truck crash data in Ohio to develop and test a framework for identifying crashes that happen as a result of imbalances in truck parking supply and demand. The societal impacts of these crashes are then interpreted as monetary values, calculated using the costs associated with various crash severity levels.Keywords: truck parking, road safety, crash data, geofencing, driver fatigue, undesignated parking
Procedia PDF Downloads 1683383 A Comparative Asessment of Some Algorithms for Modeling and Forecasting Horizontal Displacement of Ialy Dam, Vietnam
Authors: Kien-Trinh Thi Bui, Cuong Manh Nguyen
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In order to simulate and reproduce the operational characteristics of a dam visually, it is necessary to capture the displacement at different measurement points and analyze the observed movement data promptly to forecast the dam safety. The accuracy of forecasts is further improved by applying machine learning methods to data analysis progress. In this study, the horizontal displacement monitoring data of the Ialy hydroelectric dam was applied to machine learning algorithms: Gaussian processes, multi-layer perceptron neural networks, and the M5-rules algorithm for modelling and forecasting of horizontal displacement of the Ialy hydropower dam (Vietnam), respectively, for analysing. The database which used in this research was built by collecting time series of data from 2006 to 2021 and divided into two parts: training dataset and validating dataset. The final results show all three algorithms have high performance for both training and model validation, but the MLPs is the best model. The usability of them are further investigated by comparison with a benchmark models created by multi-linear regression. The result show the performance which obtained from all the GP model, the MLPs model and the M5-Rules model are much better, therefore these three models should be used to analyze and predict the horizontal displacement of the dam.Keywords: Gaussian processes, horizontal displacement, hydropower dam, Ialy dam, M5-Rules, multi-layer perception neural networks
Procedia PDF Downloads 2133382 Fuzzy Time Series- Markov Chain Method for Corn and Soybean Price Forecasting in North Carolina Markets
Authors: Selin Guney, Andres Riquelme
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Among the main purposes of optimal and efficient forecasts of agricultural commodity prices is to guide the firms to advance the economic decision making process such as planning business operations and marketing decisions. Governments are also the beneficiaries and suppliers of agricultural price forecasts. They use this information to establish a proper agricultural policy, and hence, the forecasts affect social welfare and systematic errors in forecasts could lead to a misallocation of scarce resources. Various empirical approaches have been applied to forecast commodity prices that have used different methodologies. Most commonly-used approaches to forecast commodity sectors depend on classical time series models that assume values of the response variables are precise which is quite often not true in reality. Recently, this literature has mostly evolved to a consideration of fuzzy time series models that provide more flexibility in terms of the classical time series models assumptions such as stationarity, and large sample size requirement. Besides, fuzzy modeling approach allows decision making with estimated values under incomplete information or uncertainty. A number of fuzzy time series models have been developed and implemented over the last decades; however, most of them are not appropriate for forecasting repeated and nonconsecutive transitions in the data. The modeling scheme used in this paper eliminates this problem by introducing Markov modeling approach that takes into account both the repeated and nonconsecutive transitions. Also, the determination of length of interval is crucial in terms of the accuracy of forecasts. The problem of determining the length of interval arbitrarily is overcome and a methodology to determine the proper length of interval based on the distribution or mean of the first differences of series to improve forecast accuracy is proposed. The specific purpose of this paper is to propose and investigate the potential of a new forecasting model that integrates methodologies for determining the proper length of interval based on the distribution or mean of the first differences of series and Fuzzy Time Series- Markov Chain model. Moreover, the accuracy of the forecasting performance of proposed integrated model is compared to different univariate time series models and the superiority of proposed method over competing methods in respect of modelling and forecasting on the basis of forecast evaluation criteria is demonstrated. The application is to daily corn and soybean prices observed at three commercially important North Carolina markets; Candor, Cofield and Roaring River for corn and Fayetteville, Cofield and Greenville City for soybeans respectively. One main conclusion from this paper is that using fuzzy logic improves the forecast performance and accuracy; the effectiveness and potential benefits of the proposed model is confirmed with small selection criteria value such MAPE. The paper concludes with a discussion of the implications of integrating fuzzy logic and nonarbitrary determination of length of interval for the reliability and accuracy of price forecasts. The empirical results represent a significant contribution to our understanding of the applicability of fuzzy modeling in commodity price forecasts.Keywords: commodity, forecast, fuzzy, Markov
Procedia PDF Downloads 2183381 Analysis of Marketing: Frozen Fruit and Vegetables Sector in Turkey
Authors: Pınar Aydın, Şule Turhan
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Today, with the change of people's consumption habits, the importance of frozen fruit and vegetable sector has been increased. In Turkey, sector is based on export. It is growing very fast and external demand is constantly increasing. About 80% of frozen fruits and vegetables produced in Turkey are being exported. More than 90% of the exports go to European Union countries. About 49% of frozen fruits and vegetables in Turkey is being exported to Germany, England and France. In the sector which the abroad demand is continuously increasing, although it has been estimated that around 25% of the average annual growth rate, the domestic consumption is very low. Although the frozen food consumption per person in Turkey is about %2 of United States, the growing rate of the sector is higher than the United States and Europe. This situation reflects that it is such a sector that has a growing demand in both domestic and foreign markets.Keywords: frozen food, fruit and vegetable sector, exports, Turkey
Procedia PDF Downloads 3353380 Analytical Approach to Reinsurance in Algeria as an Emerging Market
Authors: Nesrine Bouzaher, Okba Necira
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The financial aspect of the Algerian economy is part of all sectors that have undergone great changes these two last decades; the goal is to enable economic mechanisms for real growth. Insurance is an indispensable tool for stabilizing these mechanisms. Therefore the national economy needs to develop the insurance market in order to support the investments, externally and internally; it turns out that reinsurance is one of the area which could prove their performance in several markets mainly emerging ones. The expansion of reinsurance in the domestic market is the preoccupation of this work, focusing on factors that could enhance the demand of reinsurance in the Algerian market. This work will be based on an analytical research of the economic contribution of the reinsurance and it’s collusion with insurance; market, then it will be necessary to provide an overview of the product in the national emerging market, finally we will try to investigate on the factors that could enhance the demand in the national reinsurance market so as to determine the potential of Algeria in this area.Keywords: Algerian reinsurance data, demand trend of Algerian reinsurance, reinsurance, reinsurance market
Procedia PDF Downloads 3773379 An Efficient Data Mining Technique for Online Stores
Authors: Mohammed Al-Shalabi, Alaa Obeidat
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In any food stores, some items will be expired or destroyed because the demand on these items is infrequent, so we need a system that can help the decision maker to make an offer on such items to improve the demand on the items by putting them with some other frequent item and decrease the price to avoid losses. The system generates hundreds or thousands of patterns (offers) for each low demand item, then it uses the association rules (support, confidence) to find the interesting patterns (the best offer to achieve the lowest losses). In this paper, we propose a data mining method for determining the best offer by merging the data mining techniques with the e-commerce strategy. The task is to build a model to predict the best offer. The goal is to maximize the profits of a store and avoid the loss of products. The idea in this paper is the using of the association rules in marketing with a combination with e-commerce.Keywords: data mining, association rules, confidence, online stores
Procedia PDF Downloads 4113378 Customer Experience Management in Food and Beverage Outlet at Indian School of Business: Methodology and Recommendations
Authors: Anupam Purwar
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In conventional consumer product industry, stockouts are taken care by carrying buffer stock to check underserving caused by changes in customer demand, incorrect forecast or variability in lead times. But, for food outlets, the alternate of carrying buffer stock is unviable because of indispensable need to serve freshly cooked meals. Besides, the food outlet being the sole provider has no incentives to reduce stockouts, as they have no fear of losing revenue, gross profit, customers and market share. Hence, innovative, easy to implement and practical ways of addressing the twin problem of long queues and poor customer experience needs to be investigated. Current work analyses the demand pattern of 11 different food items across a routine day. Based on this optimum resource allocation for all food items has been carried out by solving a linear programming problem with cost minimization as the objective. Concurrently, recommendations have been devised to address this demand and supply side problem keeping in mind their practicability. Currently, the recommendations are being discussed and implemented at ISB (Indian School of Business) Hyderabad campus.Keywords: F&B industry, resource allocation, demand management, linear programming, LP, queuing analysis
Procedia PDF Downloads 1383377 Inventory Management System of Seasonal Raw Materials of Feeds at San Jose Batangas through Integer Linear Programming and VBA
Authors: Glenda Marie D. Balitaan
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The branch of business management that deals with inventory planning and control is known as inventory management. It comprises keeping track of supply levels and forecasting demand, as well as scheduling when and how to plan. Keeping excess inventory results in a loss of money, takes up physical space, and raises the risk of damage, spoilage, and loss. On the other hand, too little inventory frequently causes operations to be disrupted and raises the possibility of low customer satisfaction, both of which can be detrimental to a company's reputation. The United Victorious Feed mill Corporation's present inventory management practices were assessed in terms of inventory level, warehouse allocation, ordering frequency, shelf life, and production requirement. To help the company achieve their optimal level of inventory, a mathematical model was created using Integer Linear Programming. Due to the season, the goal function was to reduce the cost of purchasing US Soya and Yellow Corn. Warehouse space, annual production requirements, and shelf life were all considered. To ensure that the user only uses one application to record all relevant information, like production output and delivery, the researcher built a Visual Basic system. Additionally, the technology allows management to change the model's parameters.Keywords: inventory management, integer linear programming, inventory management system, feed mill
Procedia PDF Downloads 843376 Water Quality Assessment of Owu Falls for Water Use Classification
Authors: Modupe O. Jimoh
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Waterfalls create an ambient environment for tourism and relaxation. They are also potential sources for water supply. Owu waterfall located at Isin Local Government, Kwara state, Nigeria is the highest waterfall in the West African region, yet none of its potential usefulness has been fully exploited. Water samples were taken from two sections of the fall and were analyzed for various water quality parameters. The results obtained include pH (6.71 ± 0.1), Biochemical oxygen demand (4.2 ± 0.5 mg/l), Chemical oxygen demand (3.07 ± 0.01 mg/l), Dissolved oxygen (6.59 ± 0.6 mg/l), Turbidity (4.43 ± 0.11 NTU), Total dissolved solids (8.2 ± 0.09 mg/l), Total suspended solids (18.25 ± 0.5 mg/l), Chloride ion (0.48 ± 0.08 mg/l), Calcium ion (0.82 ± 0.02 mg/l)), Magnesium ion (0.63 ± 0.03 mg/l) and Nitrate ion (1.25 ± 0.01 mg/l). The results were compared to the World Health Organisations standard for drinking water and the Nigerian standard for drinking water. From the comparison, it can be deduced that due to the Biochemical oxygen demand value, the water is not suitable for drinking unless it undergoes treatment. However, it is suitable for other classes of water usage.Keywords: Owu falls, waterfall, water quality, water quality parameters, water use
Procedia PDF Downloads 1813375 Analytical Approach to Reinsurance in Algeria as an Emerging Market
Authors: Necira Okba, Nesrine Bouzaher
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The financial aspect of the Algerian economy is part of all sectors that have undergone great changes these two last decades; the goal is to enable economic mechanisms for real growth. Insurance is an indispensable tool for stabilizing these mechanisms. Therefore, the national economy needs to develop the insurance market in order to support the investments, externally and intern ally; it turns out that reinsurance is one of the area which could prove their performance in several markets mainly emerging ones. The expansion of reinsurance in the domestic market is the preoccupation of this work, focusing on factors that could enhance the demand of reinsurance in the Algerian market. This work will be based on an analytical research of the economic contribution of the reinsurance and it’s collusion with insurance market, then it will be necessary to provide an overview of the product in the national emerging market, finally we will try to investigate on the factors that could enhance the demand in the national reinsurance market so as to determine the potential of Algeria in this area.Keywords: Algerian reinsurance data, demand trend of Algerian reinsurance, reinsurance, reinsurance market
Procedia PDF Downloads 3433374 Applying (1, T) Ordering Policy in a Multi-Vendor-Single-Buyer Inventory System with Lost Sales and Poisson Demand
Authors: Adel Nikfarjam, Hamed Tayebi, Sadoullah Ebrahimnejad
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This paper considers a two-echelon inventory system with a number of warehouses and a single retailer. The retailer replenishes its required items from warehouses, and assembles them into a single final product. We assume that each warehouse supplies only one kind of the raw material for the retailer. The demand process of the final product is assumed to be Poissson, and unsatisfied demand of the final product will be lost. The retailer applies one-for-one-period ordering policy which is also known as (1, T) ordering policy. In this policy the retailer orders to each warehouse a fixed quantity of each item at fixed time intervals, which the fixed quantity is equal to the utilization of the item in the final product. Since, this policy eliminates all demand uncertainties at the upstream echelon, the standard lot sizing model can be applied at all warehouses. In this paper, we calculate the total cost function of the inventory system. Then, based on this function, we present a procedure to obtain the optimal time interval between two consecutive order placements from retailer to the warehouses, and the optimal order quantities of warehouses (assuming that there are positive ordering costs at warehouses). Finally, we present some numerical examples, and conduct numerical sensitivity analysis for cost parameters.Keywords: two-echelon supply chain, multi-vendor-single-buyer inventory system, lost sales, Poisson demand, one-for-one-period policy, lot sizing model
Procedia PDF Downloads 3133373 An Economic Order Quantity Model for Deteriorating Items with Ramp Type Demand, Time Dependent Holding Cost and Price Discount Offered on Backorders
Authors: Arjun Paul, Adrijit Goswami
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In our present work, an economic order quantity inventory model with shortages is developed where holding cost is expressed as linearly increasing function of time and demand rate is a ramp type function of time. The items considered in the model are deteriorating in nature so that a small fraction of the items is depleted with the passage of time. In order to consider a more realistic situation, the deterioration rate is assumed to follow a continuous uniform distribution with the parameters involved being triangular fuzzy numbers. The inventory manager offers his customer a discount in case he is willing to backorder his demand when there is a stock-out. The optimum ordering policy and the optimum discount offered for each backorder are determined by minimizing the total cost in a replenishment interval. For better illustration of our proposed model in both the crisp and fuzzy sense and for providing richer insights, a numerical example is cited to exemplify the policy and to analyze the sensitivity of the model parameters.Keywords: fuzzy deterioration rate, price discount on backorder, ramp type demand, shortage, time varying holding cost
Procedia PDF Downloads 1993372 Energy Intensity of a Historical Downtown: Estimating the Energy Demand of a Budapest District
Authors: Viktória Sugár, Attila Talamon, András Horkai, Michihiro Kita
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The dense urban fabric of the 7th district of Budapest -known as the former Jewish Quarter-, contains mainly historical style, multi-story tenement houses with courtyards. The high population density and the unsatisfactory energetic state of the buildings result high energy consumption. As a preliminary survey of a complex rehabilitation plan, the authors aim to determine the energy demand of the area. The energy demand was calculated by analyzing the structure and the energy consumption of each building by using Geographic Information System (GIS) methods. The carbon dioxide emission was also calculated, to assess the potential of reducing the present state value by complex structural and energetic rehabilitation. As a main focus of the survey, an energy intensity map has been created about the area.Keywords: CO₂, energy intensity map, geographic information system (GIS), Hungary, Jewish quarter, rehabilitation
Procedia PDF Downloads 2973371 Qualitative Review of Seismic Response of Vertically Irregular Building Frames
Authors: Abdelhammid Chibane
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This study summarizes state-of-the-art knowledge in the seismic response of vertically irregular building frames. Criteria defining vertical irregularity as per the current building codes have been discussed. A review of studies on the seismic behaviour of vertically irregular structures along with their findings has been presented. It is observed that building codes provide criteria to classify the vertically irregular structures and suggest dynamic analysis to arrive at design lateral forces. Most of the studies agree on the increase in drift demand in the tower portion of set-back structures and on the increase in seismic demand for buildings with discontinuous distributions in mass, stiffness, and strength. The largest seismic demand is found for the combined-stiffness-and-strength irregularity.Keywords: mass irregularity, set-back structure, stiffness irregularity, strength irregularity, vertical irregularity
Procedia PDF Downloads 2663370 Special Case of Trip Distribution Model and Its Use for Estimation of Detailed Transport Demand in the Czech Republic
Authors: Jiri Dufek
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The national model of the Czech Republic has been modified in a detailed way to get detailed travel demand in the municipality level (cities, villages over 300 inhabitants). As a technique for this detailed modelling, three-dimensional procedure for calibrating gravity models, was used. Besides of zone production and attraction, which is usual in gravity models, the next additional parameter for trip distribution was introduced. Usually it is called by “third dimension”. In the model, this parameter is a demand between regions. The distribution procedure involved calculation of appropriate skim matrices and its multiplication by three coefficients obtained by iterative balancing of production, attraction and third dimension. This type of trip distribution was processed in R-project and the results were used in the Czech Republic transport model, created in PTV Vision. This process generated more precise results in local level od the model (towns, villages)Keywords: trip distribution, three dimension, transport model, municipalities
Procedia PDF Downloads 1313369 A Reinforcement Learning Based Method for Heating, Ventilation, and Air Conditioning Demand Response Optimization Considering Few-Shot Personalized Thermal Comfort
Authors: Xiaohua Zou, Yongxin Su
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The reasonable operation of heating, ventilation, and air conditioning (HVAC) is of great significance in improving the security, stability, and economy of power system operation. However, the uncertainty of the operating environment, thermal comfort varies by users and rapid decision-making pose challenges for HVAC demand response optimization. In this regard, this paper proposes a reinforcement learning-based method for HVAC demand response optimization considering few-shot personalized thermal comfort (PTC). First, an HVAC DR optimization framework based on few-shot PTC model and DRL is designed, in which the output of few-shot PTC model is regarded as the input of DRL. Then, a few-shot PTC model that distinguishes between awake and asleep states is established, which has excellent engineering usability. Next, based on soft actor criticism, an HVAC DR optimization algorithm considering the user’s PTC is designed to deal with uncertainty and make decisions rapidly. Experiment results show that the proposed method can efficiently obtain use’s PTC temperature, reduce energy cost while ensuring user’s PTC, and achieve rapid decision-making under uncertainty.Keywords: HVAC, few-shot personalized thermal comfort, deep reinforcement learning, demand response
Procedia PDF Downloads 873368 Cost Overruns in Mega Projects: Project Progress Prediction with Probabilistic Methods
Authors: Yasaman Ashrafi, Stephen Kajewski, Annastiina Silvennoinen, Madhav Nepal
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Mega projects either in construction, urban development or energy sectors are one of the key drivers that build the foundation of wealth and modern civilizations in regions and nations. Such projects require economic justification and substantial capital investment, often derived from individual and corporate investors as well as governments. Cost overruns and time delays in these mega projects demands a new approach to more accurately predict project costs and establish realistic financial plans. The significance of this paper is that the cost efficiency of megaprojects will improve and decrease cost overruns. This research will assist Project Managers (PMs) to make timely and appropriate decisions about both cost and outcomes of ongoing projects. This research, therefore, examines the oil and gas industry where most mega projects apply the classic methods of Cost Performance Index (CPI) and Schedule Performance Index (SPI) and rely on project data to forecast cost and time. Because these projects are always overrun in cost and time even at the early phase of the project, the probabilistic methods of Monte Carlo Simulation (MCS) and Bayesian Adaptive Forecasting method were used to predict project cost at completion of projects. The current theoretical and mathematical models which forecast the total expected cost and project completion date, during the execution phase of an ongoing project will be evaluated. Earned Value Management (EVM) method is unable to predict cost at completion of a project accurately due to the lack of enough detailed project information especially in the early phase of the project. During the project execution phase, the Bayesian adaptive forecasting method incorporates predictions into the actual performance data from earned value management and revises pre-project cost estimates, making full use of the available information. The outcome of this research is to improve the accuracy of both cost prediction and final duration. This research will provide a warning method to identify when current project performance deviates from planned performance and crates an unacceptable gap between preliminary planning and actual performance. This warning method will support project managers to take corrective actions on time.Keywords: cost forecasting, earned value management, project control, project management, risk analysis, simulation
Procedia PDF Downloads 4053367 The Political Economy of Human Trafficking and Human Insecurity in Asia: The Case of Japan, Thailand and India
Authors: Mohammed Bashir Uddin
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Human trafficking remains as a persistent problem in many parts of the world. It is considered by many countries as an issue of a threat to national security. Border enforcement to prevent trafficking has been the main incentive, which eventually causes human insecurity for vulnerable people, especially for women. This research argues that focus needs to be placed on the political economy of trafficking, hence on the supply and demand sides of trafficking from a broader socio-economic perspective. Trafficking is a global phenomenon with its contemporary origins in the international capitalist market system. This research investigates particularly the supply-demand nexus on the backdrop of globalization and its impact on human security. It argues that the nexus varies across the countries, particularly the demand side. While prostitution has been the sole focus of the demand side in all countries in Asia, the paper argues that organ trade, bonded labor, cheap and exploitable labor through false recruitment (male trafficking) and adoption are some of the rising demands that explore new trends of trafficking, which could be better explained through international political economy (IPE). Following a qualitative research method, the paper argues that although demands vary in destination countries, they are the byproducts of IPE which have different socio-economic impacts both on trafficked individuals and the states.Keywords: globalization, human security, human trafficking, political economy
Procedia PDF Downloads 4713366 Urban Transport Demand Management Multi-Criteria Decision Using AHP and SERVQUAL Models: Case Study of Nigerian Cities
Authors: Suleiman Hassan Otuoze, Dexter Vernon Lloyd Hunt, Ian Jefferson
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Urbanization has continued to widen the gap between demand and resources available to provide resilient and sustainable transport services in many fast-growing developing countries' cities. Transport demand management is a decision-based optimization concept for both benchmarking and ensuring efficient use of transport resources. This study assesses the service quality of infrastructure and mobility services in the Nigerian cities of Kano and Lagos through five dimensions of quality (i.e., Tangibility, Reliability, Responsibility, Safety Assurance and Empathy). The methodology adopts a hybrid AHP-SERVQUAL model applied on questionnaire surveys to gauge the quality of satisfaction and the views of experts in the field. The AHP results prioritize tangibility, which defines the state of transportation infrastructure and services in terms of satisfaction qualities and intervention decision weights in the two cities. The results recorded ‘unsatisfactory’ indices of quality of performance and satisfaction rating values of 48% and 49% for Kano and Lagos, respectively. The satisfaction indices are identified as indicators of low performances of transportation demand management (TDM) measures and the necessity to re-order priorities and take proactive steps towards infrastructure. The findings pilot a framework for comparative assessment of recognizable standards in transport services, best ethics of management and a necessity of quality infrastructure to guarantee both resilient and sustainable urban mobility.Keywords: transportation demand management, multi-criteria decision support, transport infrastructure, service quality, sustainable transport
Procedia PDF Downloads 2253365 Preference Aggregation and Mechanism Design in the Smart Grid
Authors: Zaid Jamal Saeed Almahmoud
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Smart Grid is the vision of the future power system that combines advanced monitoring and communication technologies to provide energy in a smart, efficient, and user-friendly manner. This proposal considers a demand response model in the Smart Grid based on utility maximization. Given a set of consumers with conflicting preferences in terms of consumption and a utility company that aims to minimize the peak demand and match demand to supply, we study the problem of aggregating these preferences while modelling the problem as a game. We also investigate whether an equilibrium can be reached to maximize the social benefit. Based on such equilibrium, we propose a dynamic pricing heuristic that computes the equilibrium and sets the prices accordingly. The developed approach was analysed theoretically and evaluated experimentally using real appliances data. The results show that our proposed approach achieves a substantial reduction in the overall energy consumption.Keywords: heuristics, smart grid, aggregation, mechanism design, equilibrium
Procedia PDF Downloads 1163364 Reservoir Inflow Prediction for Pump Station Using Upstream Sewer Depth Data
Authors: Osung Im, Neha Yadav, Eui Hoon Lee, Joong Hoon Kim
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Artificial Neural Network (ANN) approach is commonly used in lots of fields for forecasting. In water resources engineering, forecast of water level or inflow of reservoir is useful for various kind of purposes. Due to advantages of ANN, many papers were written for inflow prediction in river networks, but in this study, ANN is used in urban sewer networks. The growth of severe rain storm in Korea has increased flood damage severely, and the precipitation distribution is getting more erratic. Therefore, effective pump operation in pump station is an essential task for the reduction in urban area. If real time inflow of pump station reservoir can be predicted, it is possible to operate pump effectively for reducing the flood damage. This study used ANN model for pump station reservoir inflow prediction using upstream sewer depth data. For this study, rainfall events, sewer depth, and inflow into Banpo pump station reservoir between years of 2013-2014 were considered. Feed – Forward Back Propagation (FFBF), Cascade – Forward Back Propagation (CFBP), Elman Back Propagation (EBP) and Nonlinear Autoregressive Exogenous (NARX) were used as ANN model for prediction. A comparison of results with ANN model suggests that ANN is a powerful tool for inflow prediction using the sewer depth data.Keywords: artificial neural network, forecasting, reservoir inflow, sewer depth
Procedia PDF Downloads 318