Search results for: operational%20management

Authors: Md Tasbirul Islam, Pablo Dias, Nazmul Huda

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E-waste/Waste electrical and electronic equipment (WEEE) is one of the fastest growing waste streams across the globe. This paper aims to compare the e-waste management system in Switzerland and Australia in terms of four features - legislative initiatives, disposal practice, collection and financial mechanisms. The qualitative content analysis is employed as a research method in the study. Data were collected from various published academic research papers, industry reports, and web sources. In addition, a questionnaire survey is conducted in Australia to understand the public awareness and opinions on the features. The results of the study provide valuable insights to policymakers in Australia developing better e-waste management system in conjunction with the public consensus, and the state-of-the-art operational strategies currently being practiced in Switzerland.

Keywords: E-waste management, WEEE, awareness, pro-environmental behavior, Australia, Switzerland

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Authors: Maged Assem Soliman Mossallam

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Thermal vacuum testing target is to qualify the space system and ensure its operability under harsh space environment. The functionality of the cubesat was checked at extreme orbit conditions. Test was performed for operational and nonoperational modes. Analysis is done to simulate the cubesat thermal cycling inside thermal vacuum chamber. Comsol Multiphysics finite element is used to solve three dimensional problem for the cubesat inside TVAC. Three dimensional CAD model is done using Autodesk Inventor program. The boundary conditions were applied from the actual shroud temperature. The input heat load variation with time is considered to solve the transient three dimensional problem. Results show that the simulated temperature profiles are within an acceptable range from the real testing data.

Keywords: cubesat, thermal vacuum test, testing simulation, finite element analysis

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Authors: Hashim Ali, Sheheryar Khan

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Security for applications is always been a keen issue of concern. In general, security is to allow access of grant to legal user or to deny non-authorized access to the system. Shoulder surfing is an observation technique to hack an account or to enter into a system. When a malicious observer is capturing or recording the fingers of a user while he is entering sensitive inputs (PIN, Passwords etc.) and may be able to observe user’s password credential. It is very rigorous for a novice user to prevent himself from shoulder surfing or unaided observer in a public place while accessing his account. In order to secure the user account, there are five factors of authentication; they are: “(i) something you have, (ii) something you are, (iii) something you know, (iv) somebody you know, (v) something you process”. A technique has been developed of fifth-factor authentication “something you process” to provide novel approach to the user. In this paper, we have applied position based operational code authentication in such a way to more easy and user friendly to the user.

Keywords: shoulder surfing, malicious observer, sensitive inputs, authentication

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Authors: Habib Ur Rahman Habib

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Renewable energy resources are being realized as suitable options in hybrid energy planning for on-grid and micro grid. In this paper, operation, planning and optimal design of on-grid distributed energy resources based hybrid system are investigated. The aim is to minimize the cost of the overall energy system keeping in view the environmental emission and minimum penetration of conventional energy resources. Seven grid connected different case studies including diesel only, diesel-renewable based, and renewable based only are designed to perform economic analysis, operational planning and emission. Sensitivity analysis is implemented to investigate the impact of different parameters on the performance of energy resources.

Keywords: data management, renewable energy, distributed energy, smart grid, micro-grid, modeling, energy planning, design optimization

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Authors: Aarnav Singh, Jayesh Ghatate, Tarush Pandey

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Non-Governmental Organizations (NGOs) play a crucial role in addressing societal challenges, relying heavily on financial transactions to fund their impactful initiatives. However, traditional financial systems can be cumbersome and lack transparency, hindering the efficiency and trustworthiness of NGO operations. The Ethereum main-net, while pioneering the decentralized finance landscape, grapples with inherent scalability challenges, restricting its transaction throughput to a range of 15-45 transactions per second (TPS). This limitation poses substantial obstacles for NGOs engaging in swift and dynamic financial transactions critical to their operational efficiency. This research is a comprehensive exploration of the intricacies of these scalability challenges and delves into the design and implementation of a purpose-built blockchain system explicitly crafted to surmount these constraints.

Keywords: non-governmental organizations, decentralized system, zero knowledge Ethereum virtual machine, decentralized application

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Authors: Ummu Salma Al Azizah, Herri Mulyono, Anisa Mauliata Suryana

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The significance of corporate governance regarding to the agency problem have been transparent. This study examine the impact of corporate governance on the performance of Islamic banking in Indonesia. By using fixed effect model and added some control variable, the current study try to explore the correlation between the theoretical framework on corporate governance, such as agency theory and risk management theory. The bank performance (Return on Asset and Return on Equity) which are operational performance and financial performance. And Corporate governance based on Board size, CEO duality, Audit committee and Shariah supervisory board. The limitation of this study only focus on the Islamic banks performance from year 2015 to 2020. The study fill the gap in the literature by addressing the issue of corporate governance on Islamic banks performance in Indonesia.

Keywords: corporate governance, financial performance, islamic banks, listed companies, Indonesia

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Authors: Michal Lysek, Mike Danilovic, Jasmine Lihua Liu

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HMS Industrial Networks AB has been recognized as one of the most innovative companies in the industrial communication industry worldwide. The creation of their Anybus innovation during the 1990s contributed considerably to the company’s success. From inception, HMS’ employees were innovating for the purpose of creating new business (the creation phase). After the Anybus innovation, they began the process of internationalization (the commercialization phase), which in turn led them to concentrate on cost reduction, product quality, delivery precision, operational efficiency, and increasing growth (the growth phase). As a result of this transformation, performing new radical innovations have become more complicated. The purpose of our research was to explore the dynamics of innovation at HMS from the aspect of key actors, activities, and events, over the three phases, in order to understand what led to the creation of their Anybus innovation, and why it has become increasingly challenging for HMS to create new radical innovations for the future. Our research methodology was based on a longitudinal, retrospective study from the inception of HMS in 1988 to 2014, a single case study inspired by the grounded theory approach. We conducted 47 interviews and collected 1 024 historical documents for our research. Our analysis has revealed that HMS’ success in creating the Anybus, and developing a successful business around the innovation, was based on three main capabilities – cultivating customer relations on different managerial and organizational levels, inspiring business relations, and balancing complementary human assets for the purpose of business creation. The success of HMS has turned the management’s attention away from past activities of key actors, of their behavior, and how they influenced and stimulated the creation of radical innovations. Nowadays, they are rhetorically focusing on creativity and innovation. All the while, their real actions put emphasis on growth, cost reduction, product quality, delivery precision, operational efficiency, and moneymaking. In the process of becoming an international company, HMS gradually refocused. In so doing they became profitable and successful, but they also forgot what made them innovative in the first place. Fortunately, HMS’ management has come to realize that this is the case and they are now in search of recapturing innovation once again. Our analysis indicates that HMS’ management is facing several barriers to innovation related path dependency and other lock-in phenomena. HMS’ management has been captured, trapped in their mindset and actions, by the success of the past. But now their future has to be secured, and they have come to realize that moneymaking is not everything. In recent years, HMS’ management have begun to search for innovation once more, in order to recapture their past capabilities for creating radical innovations. In order to unlock their managerial perceptions of customer needs and their counter-innovation driven activities and events, to utilize the full potential of their employees and capture the innovation opportunity for the future.

Keywords: barriers to innovation, dynamics of innovation, in search of excellence and innovation, radical innovation

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Authors: Amit Tribedi

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Genuine Quantumness present in Quantum Systems is the resource for implementing Quantum Information and Computation Protocols which can outperform the classical counterparts. These Quantumness measures encompass non-local ones known as quantum entanglement (QE) and quantum information theoretic (QIT) ones, e.g. Quantum Discord (QD). In this paper, some well-known measures of QE and QD in some wheel-like frustrated molecular magnetic systems have been studied. One of the systems has already been synthesized using coordination chemistry, and the other is hypothetical, where the dominant interaction is the spin-spin exchange interaction. Exact analytical methods and exact numerical diagonalization methods have been used. Some counter-intuitive non-trivial features, like non-monotonicity of quantum correlations with temperature, persistence of multipartite entanglement over bipartite ones etc. indicated by the behaviour of the correlations and the QIT measures have been found. The measures, being operational ones, can be used to realize the resource of Quantumness in experiments.

Keywords: 0D Magnets, discord, entanglement, frustration

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Authors: Eldah Ephraim Buba, Amina Bata Zoaka, Aishatu Ibrahim

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This study appraised maintenance practices in selected tourist attractions in Bauchi state, Nigeria. Four tourist attractions were used for the research. Checklists were used to assess operations and repairs maintenance practices in the different attractions. The study carried out personal assessment thrice in six months without prior knowledge of the staff in charge for operational maintenance. Records of repairs maintenance from the attractions maintenance unit for a period of ten years were assessed using the checklists. The findings of the study show that operations maintenance was not adequately carried out in the four tourists attractions. Repairs maintenance was carried out in Yankari game reserve and safari, but repairs maintenance was poor in the other three attractions. The study therefore, recommends that adequate maintenance should be practiced in tourist attractions to expand the lifespan of the facilities and also encourage tourist patronage.

Keywords: appraisal, maintenance, practices, tourist attraction

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Authors: Hideaki Endo, Mika Goto

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The global outbreak of the COVID-19 pandemic has seriously affected railway businesses. The number of railway passengers decreased due to the decline in the number of commuters and business travelers to avoid crowded trains and a sharp drop in inbound tourists visiting Japan. This has affected not only railway businesses but also related businesses, including hotels, leisure businesses, and retail businesses at station buildings. In 2021, the companies were divided into profitable and loss-making companies. This division suggests that railway companies, particularly loss-making companies, needed to decrease operational inefficiency. To measure the impact of COVID-19 and discuss the sustainable management strategies of railway companies, we examine the cost inefficiency of Japanese listed railway companies by applying stochastic frontier analysis (SFA) to their operational and financial data. First, we employ the stochastic frontier cost function approach to measure inefficiency. The cost frontier function is formulated as a Cobb–Douglas type, and we estimated parameters and variables for inefficiency. This study uses panel data comprising 26 Japanese-listed railway companies from 2005 to 2020. This period includes several events deteriorating the business environment, such as the financial crisis from 2007 to 2008 and the Great East Japan Earthquake of 2011, and we compare those impacts with those of the COVID-19 pandemic after 2020. Second, we identify the characteristics of the best-practice railway companies and examine the drivers of cost inefficiencies. Third, we analyze the factors influencing cost inefficiency by comparing the profiles of the top 10 railway companies and others before and during the pandemic. Finally, we examine the relationship between cost inefficiency and the implementation of efficiency measures for each railway company. We obtained the following four findings. First, most Japanese railway companies showed the lowest cost inefficiency (most efficient) in 2014 and the highest in 2020 (least efficient) during the COVID-19 pandemic. The second worst occurred in 2009 when it was affected by the financial crisis. However, we did not observe a significant impact of the 2011 Great East Japan Earthquake. This is because no railway company was influenced by the earthquake in this operating area, except for JR-EAST. Second, the best-practice railway companies are KEIO and TOKYU. The main reason for their good performance is that both operate in and near the Tokyo metropolitan area, which is densely populated. Third, we found that non-best-practice companies had a larger decrease in passenger kilometers than best-practice companies. This indicates that passengers made fewer long-distance trips because they refrained from inter-prefectural travel during the pandemic. Finally, we found that companies that implement more efficiency improvement measures had higher cost efficiency and they effectively used their customer databases through proactive DX investments in marketing and asset management.

Keywords: COVID-19 pandemic, stochastic frontier analysis, railway sector, cost efficiency

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Authors: Shokoufeh Sadeghifard

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This study is a review of the nature of soil arching that develops in the upper layer of soil during drilling processes before pulling product pipe inside the hole. This study is based on the results of some parametric studies which are investigating the behavior of drained sandy soil above HDD borehole using Plaxis finite element solution. The influence of drilling mud injection in these series of analyses has been ignored. However, a suitable drilling mud pressure helps to achieve stable arch when the height of soil cover over the drilling borehole is not enough. In this study, the soil response to the formation of a HDD borehole is compared to arching theory developed by Terzaghi (1943). It is found that Terzaghi’s approach is capable of describing all of the behaviour seen when a stable arch forms. According to the numerical results, a suitable safe depth of 4D, D is borehole diameter, is suggested for typical range of HDD borehole in sandy soil.

Keywords: HDD, Plaxis, finite element, arching, settlement, drilling

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Authors: Chur Hee Lee, Jae in Lee, Minh Chau Diah, Jong Su Yoon, Seung Wan Kim

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This paper deals with Real Time Digital Simulator (RTDS) analysis about effects of transmission lines failure in power system equipped with Thyristor Controlled Series Capacitance (TCSC) in Korea. The TCSC is firstly applied in Korea to compensate real power in case of 765 kV line faults. Therefore, It is important to analyze with TCSC replica using RTDS. In this test, all systems in Korea, other than those near TCSC, were abbreviated to Thevenin equivalent. The replica was tested in the case of a line failure near the TCSC, a generator failure, and a 765-kV line failure. The effects of conventional operated STATCOM, SVC and TCSC were also analyzed. The test results will be used for the actual TCSC operational impact analysis.

Keywords: failure analysis, power system, RTDS, TCSC

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Authors: Ragu Sasikumar, Palraj Ranganathan, Shen-Ming Chen, Syang-Peng Rwei

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A highly sensitive, and selective α-Lipoic acid (ALA) sensor based on a functionalized multi-walled carbon nanotubes-polyindole/Ti2O3 (f-MWCNTs-PIN/Ti2O3) nanocomposite modified glassy carbon electrode (GCE) was developed. The fabricated f-MWCNTs-PIN/Ti2O3/GCE displayed an enhanced voltammetric response for oxidation towards ALA relative to that of a f-MWCNTs/GCE, f-MWCNTs-PIN/GCE, Ti2O3/GCE, and a bare GCE. Under optimum conditions, the f-MWCNTs-PIN/Ti2O3/GCE showed a wide linear range at ALA concentrations of 0.39-115.8 µM. The limit of detection of 12 nM and sensitivity of about 6.39 µA µM-1cm-2. The developed sensor showed anti-interference, reproducibility, good repeatability, and operational stability. Applied possibility of the sensor has been confirmed in vegetable samples.

Keywords: f-MWCNT, polyindole, Ti2O3, Alzheimer’s diseases, ALA sensor

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Authors: Daniel Suarez Alonso

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This study has tried to focus on the alternatives offered to police institutions by the implementation of Geographic Information systems. Providing operational police commanders with effective and efficient tools, providing analytical capacity to reduce criminal opportunities, must be a priority. Given the intimate connection of crimes and infractions to the environment, law enforcement institutions must respond proactively to changing circumstances of anti-norm behaviors. To this end, it has been intended to analyze the antisocial spatial distribution of the city of Móstoles, trying to identify those spatiotemporal patterns that occur to anticipate their commission through the planning of dynamic preventive strategies. The application of GIS offers alternative analytical approaches to the different problems that underlie the development of life in society, focusing resources on those places with the highest concentration of incidents.

Keywords: data analysis, police organizations, police prevention, geographic information systems

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Authors: Thumesha Jayatilake

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As platform work continues to proliferate, algorithmic management, which takes care of its operational role, poses complex challenges, including job satisfaction, worker involvement, ethical decision-making, and worker well-being. This conceptual paper scrutinizes how algorithmic management influences virtue development among platform workers, with an emphasis on the effects of role conflict and role ambiguity. Using an interdisciplinary approach, the research elucidates the complex relationship between algorithmic management systems and the ethical dimensions of work. The study also incorporates the interplay of human interaction and short-term task orientation, thus broadening the understanding of the impacts of algorithmic management on virtue development. The findings have significant implications for policymakers, academics, and industry practitioners, illuminating the ethical complexities presented by the use of algorithms in modern employment settings.

Keywords: algorithmic management, ethics, platform work, virtue

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Authors: Autjira Songjan, Poramatdha Chutimant

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This research is intended to study the operational quality assurance of private schools in Bangkok according to the opinions of administrators and teachers. Second is comparing the opinions of administrators and teachers about operating quality assurance process by gender, job and work experience. The sample include administrators and teachers of private schools in the Education School in Bangkok by using a proportion random technic. The questionnaire are used as query operations quality assurance to collect the data of private schools, the statistics that are used to analyze the data using the percentage, mean, standard deviation and Test the difference value and test of variance. The research found that the administrators and teachers have different sex, positions and duties have the different opinions about quality assurance in different statistically insignificant level 0.05 in the elements of performance management and the quality of the service that provided to students in the school.

Keywords: educational quality assurance, performance management, private schools in Bangkok, quality of the service

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Authors: Sebastião Pais, João Casal, Ricardo Ponciano, Sérgio Lorenço

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The adaptation paradigm is a basic defining feature for pervasive computing systems. Adaptation systems must work efficiently in a smart environment while providing suitable information relevant to the user system interaction. The key objective is to deduce the information needed information changes. Therefore relying on fixed operational models would be inappropriate. This paper presents a study on developing an Intelligent Personal Assistant to assist the user in interacting with their Smart Environment. We propose an Unsupervised and Language-Independent Adaptation through Intelligent Speech Interface and a set of methods of Acquiring Knowledge, namely Semantic Similarity and Unsupervised Learning.

Keywords: intelligent personal assistants, intelligent speech interface, unsupervised learning, language-independent, knowledge acquisition, association measures, symmetric word similarities, attributional word similarities

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Authors: Stefan Bauer, Josef Frysak

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According to the scientific information management literature, the improper use of information technology (e.g. personal computers) by employees are one main cause for operational and information security loss events. Therefore, organizations implement information security awareness programs to increase employees’ awareness to further prevention of loss events. However, in many cases these information security awareness programs consist of conventional delivery methods like posters, leaflets, or internal messages to make employees aware of information security policies. We assume that a viral information security awareness video might be more effective medium than conventional methods commonly used by organizations. The purpose of this research is to develop a viral video artifact to improve employee security behavior concerning information technology.

Keywords: information security awareness, delivery methods, viral videos, employee security behavior

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Authors: Adriana Avila Zuniga Nordfjeld

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This paper provides a literature review to document the state of the art with respect to handling 'human bias' in decision making within the established quality management systems (QMS) and LEAN theory, in the context of shipbuilding. Previous research shows that in shipbuilding there is a huge deviation from the planned man-hours under the project management to the actual man-hours used because of errors in planning and reworks caused by human bias in the information flows among others. This reduces the efficiency and increases operational costs. Thus, the research question is how QMS and LEAN handle biases. The findings show the gap in studying the integration of methods to handle human bias in decision making into QMS and lean, not only within shipbuilding but also in general. Theoretical and practical implications are discussed for researchers and practitioners in the areas of decision making QMS, LEAN, and future research is suggested.

Keywords: human bias, decision making, LEAN shipbuilding, quality management systems

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Authors: Shubham Jaiswal

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In this study, the numerical solution of two-dimensional solute transport system in a homogeneous porous medium of finite-length is obtained. The considered transport system have the terms accounting for advection, dispersion and first-order decay with first-type boundary conditions. Initially, the aquifer is considered solute free and a constant input-concentration is considered at inlet boundary. The solution is describing the solute concentration in rectangular inflow-region of the homogeneous porous media. The numerical solution is derived using a powerful method viz., spectral collocation method. The numerical computation and graphical presentations exhibit that the method is effective and reliable during solution of the physical model with complicated boundary conditions even in the presence of reaction term.

Keywords: two-dimensional solute transport system, spectral collocation method, Chebyshev polynomials, Chebyshev differentiation matrix

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Authors: Sebastião Pais, João Casal, Ricardo Ponciano, Sérgio Lourenço

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The adaptation paradigm is a basic defining feature for pervasive computing systems. Adaptation systems must work efficiently in smart environment while providing suitable information relevant to the user system interaction. The key objective is to deduce the information needed information changes. Therefore, relying on fixed operational models would be inappropriate. This paper presents a study on developing a Intelligent Personal Assistant to assist the user in interacting with their Smart Environment. We propose a Unsupervised and Language-Independent Adaptation through Intelligent Speech Interface and a set of methods of Acquiring Knowledge, namely Semantic Similarity and Unsupervised Learning.

Keywords: intelligent personal assistants, intelligent speech interface, unsupervised learning, language-independent, knowledge acquisition, association measures, symmetric word similarities, attributional word similarities

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Authors: A. Rahaf, S. Liyakathunsia

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In today’s world, unprecedented operational pressure is faced by banks that test the efficiency, effectiveness, and agility of their business processes. In a typical banking process, a person’s authorization is usually based on his signature on most all of the transactions. Signature verification is considered as one of the highly significant information needed for any bank document processing. Banks usually use Signature Verification to authenticate the identity of individuals. In this paper, a business process model has been proposed in order to increase the quality of the verification process and to reduce time and needed resources. In order to understand the current process, a survey has been conducted and distributed among bank employees. After analyzing the survey, a process model has been created using Bizagi modeler which helps in simulating the process after assigning time and cost of it. The outcomes show that the automation of signature verification process is highly recommended for a banking business process.

Keywords: business process management, process modeling, quality, Signature Verification

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Authors: Khawar Ali

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We present the numerical study of unsteady hydromagnetic (MHD) flow and heat transfer characteristics of a viscous incompressible electrically conducting water-based hybrid metallic nanofluid (containing Cu-Au/ H₂O nanoparticles) between two orthogonally moving porous coaxial disks with suction. Different from the classical shooting methodology, we employ a combination of a direct and an iterative method (SOR with optimal relaxation parameter) for solving the sparse systems of linear algebraic equations arising from the FD discretization of the linearized self similar nonlinear ODEs. Effects of the governing parameters on the flow and heat transfer are discussed and presented through tables and graphs. The findings of the present investigation may be beneficial for the electronic industry in maintaining the electronic components under effectiveand safe operational conditions.

Keywords: heat transfer enhancement, hybrid metallic nanofluid, viscous dissipation and joule heating effect , Two dimensional flow

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Authors: David Hasurungan

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This paper objective is to analyze the impact from photovoltaic system integration to power distribution network. The case study in Badak Liquefied Natural Gas (LNG) plant is presented in this paper. Badak LNG electricity network is operated in islanded mode. The total power generation in Badak LNG plant is significantly affected to feed gas supply. Meanwhile, to support the Government regulation, Badak LNG continuously implemented the grid-connected photovoltaic system in existing power distribution network. The impact between train operational mode change in Badak LNG plant and the growth of photovoltaic system is also encompassed in analysis. The analysis and calculation are performed using software Power Factory 15.1.

Keywords: power quality, distribution network, grid-connected photovoltaic system, power management system

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Authors: J. Kundrák, I. Sztankovics, K. Gyáni

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In addition to the increase of the material removal rate or surface rate, or the improvement of the surface quality, which are the main aims of the development of manufacturing technology, a growing number of other manufacturing requirements have appeared in the machining of workpiece surfaces. Among these, it is becoming increasingly dominant to generate a surface topography in finishing operations which meet more closely the needs of operational requirements. These include the examination of the surface periodicity and/or ensuring that the twist structure values are within the limits (or even preventing its occurrence) in specified cases such as on the sealing surfaces of rotating shafts or on the inside working surfaces of needle roller bearings. In the view of the measurement, the twist has different parameters from surface roughness, which must be determined for the machining procedures. Therefore in this paper the alteration of the theoretical values of the parameters determining twist structure are studied as a function of the kinematic properties.

Keywords: kinematic parameters, rotational turning, surface topography, twist structure

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Authors: Rachid Benmoussa, Fatima Ezzahra Essaber, Roland De Guio, Fatima Zahra Ben Moussa

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Implementing green practices in supply chain management is a complex task mainly because ecological, economical and operational goals are usually in conflict. Green practices might thus face companies’ reluctance because managers can consider its implementation obviously as a performance lean degradation. To implement lean and green practices successfully, companies need relevant decision-making tools to highlight the correlation between them. To contribute to this issue, this work tries to answer the following research question: How to use simulation to assess correlation (antagonism or convergence) between lean and green goals? To answer this question, we propose in this paper a based simulation process that measures correlation generally between two variables. So as to prove its relevance, a logistics academic case study is used to illustrate all its stages. It shows, as for example, that Lean goal 'Stock' and Green goal 'CO₂ emission' are not conceptually correlated (linearly).

Keywords: simulation, lean, green, supply chain

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Authors: Maryam Ziaee, Himanshu Shee, Amrik Sohal

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Big Data Analytics (BDA) in supply chain management has recently drawn the attention of academics and practitioners. Big data refers to a massive amount of data from different sources, in different formats, generated at high speed through transactions in business environments and supply chain networks. Traditional statistical tools and techniques find it difficult to analyse this massive data. BDA can assist organisations to capture, store, and analyse data specifically in the field of supply chain. Currently, there is a paucity of research on BDA in the pharmaceutical supply chain context. In this research, the Australian pharmaceutical supply chain was selected as the case study. This industry is highly significant since the right medicine must reach the right patients, at the right time, in right quantity, in good condition, and at the right price to save lives. However, drug shortages remain a substantial problem for hospitals across Australia with implications on patient care, staff resourcing, and expenditure. Furthermore, a massive volume and variety of data is generated at fast speed from multiple sources in pharmaceutical supply chain, which needs to be captured and analysed to benefit operational decisions at every stage of supply chain processes. As the pharmaceutical industry lags behind other industries in using BDA, it raises the question of whether the use of BDA can improve transparency among pharmaceutical supply chain by enabling the partners to make informed-decisions across their operational activities. This presentation explores the impacts of BDA on supply chain management. An exploratory qualitative approach was adopted to analyse data collected through interviews. This study also explores the BDA potential in the whole pharmaceutical supply chain rather than focusing on a single entity. Twenty semi-structured interviews were undertaken with top managers in fifteen organisations (five pharmaceutical manufacturers, five wholesalers/distributors, and five public hospital pharmacies) to investigate their views on the use of BDA. The findings revealed that BDA can enable pharmaceutical entities to have improved visibility over the whole supply chain and also the market; it enables entities, especially manufacturers, to monitor consumption and the demand rate in real-time and make accurate demand forecasts which reduce drug shortages. Timely and precise decision-making can allow the entities to source and manage their stocks more effectively. This can likely address the drug demand at hospitals and respond to unanticipated issues such as drug shortages. Earlier studies explore BDA in the context of clinical healthcare; however, this presentation investigates the benefits of BDA in the Australian pharmaceutical supply chain. Furthermore, this research enhances managers’ insight into the potentials of BDA at every stage of supply chain processes and helps to improve decision-making in their supply chain operations. The findings will turn the rhetoric of data-driven decision into a reality where the managers may opt for analytics for improved decision-making in the supply chain processes.

Keywords: big data analytics, data-driven decision, pharmaceutical industry, supply chain management

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Authors: Mahmoud Owais

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Public Transit (P.T) is very important means to reduce traffic congestion, to improve urban environmental conditions and consequently affects people social lives. Planning, designing and management of P.T are the key issues for offering a competitive mode that can compete with the private transportation. These transportation planning, designing and management issues are addressed in the Transit Network Design Problem (TNDP). It deals with a complete hierarchy of decision making process. It includes strategic, tactical and operational decisions. The main body of TNDP is two stages, namely; route design stage and frequency setting. The TNDP is extensively studied in the last five decades; however the research gate is still widely open due to its many practical and modeling challenges. In this paper, a comprehensive background is given to illustrate the issues and challenges related to the TNDP to help in directing the incoming researches towards the untouched areas of the problem.

Keywords: frequency setting, network design, transit planning, urban planning

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Authors: Manoel Pereira, Alvaro Veiga, Camila Epprecht, Renato Costa

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This paper introduces an empirical version of the Esscher transform for risk-neutral option pricing. Traditional parametric methods require the formulation of an explicit risk-neutral model and are operational only for a few probability distributions for the returns of the underlying. In our proposal, we make only mild assumptions on the pricing kernel and there is no need for the formulation of the risk-neutral model for the returns. First, we simulate sample paths for the returns under the physical distribution. Then, based on the empirical Esscher transform, the sample is reweighted, giving rise to a risk-neutralized sample from which derivative prices can be obtained by a weighted sum of the options pay-offs in each path. We compare our proposal with some traditional parametric pricing methods in four experiments with artificial and real data.

Keywords: esscher transform, generalized autoregressive Conditional Heteroscedastic (GARCH), nonparametric option pricing

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Authors: Allan Chia, Gabriel Gervais

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The case study on FoodXervices Inc shows how businesses need to reinvent and transform themselves in order to adapt and thrive and it also features how an SME can also devote resources to CSR causes. The company, Ng Chye Mong, was set up in 1937 and it went through ups and downs and encountered several failures and successes. In the 1970’s, the management of the company was entrusted to the next generation who continued to manage and expanded the business. In early 2003, the business encountered several challenges. A pair of siblings from the next generation of the Ng family joined the business fulltime and together they set-out to transform the company into FoodXervices Inc. In 2012, they started a charity, Food Bank Singapore Pte Ltd. The authors conducted case study research involving a series of in-depth interviews with the business owner and staff. This case study is an example of how to run a business and coordinate a charity concurrently while mobilising the same resources. The uniqueness of this case is the operational synergy of both the business and charity to promote corporate responsibility causes and initiatives in Singapore.

Keywords: family-owned business, charity, corporate social responsibility, branding

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