Search results for: sales uncertainty

Authors: Hee Joon Lee

Abstract:

There are many difficulties in measuring a small flow rate of an order of milli grams per minute (LPM) or less using a conventional flowmeter. Therefore, a flow meter with minimal loss and based on a new concept was designed as part of this paper. A chamber was manufactured with a level transmitter and an on-off control valve. When the level of the collected condensed water reaches the top of the chamber, the valve opens to allow the collected water to drain back into the tank. To allow the water to continue to drain when the signal is lost, the valve is held open for a few seconds by a time delay switch and then closed. After an examination, the condensing flow rate was successfully measured with the uncertainty of ±5.7% of the full scale for the chamber.

Keywords: chamber, condensation, flow meter, milli-grams

Procedia PDF Downloads 255

Authors: Noureddine Henka, Sami Tazi, Mohamad Assaad

Abstract:

The electrical grid is a highly intricate system designed to transfer electricity from production areas to consumption areas. The Transmission System Operator (TSO) is responsible for ensuring the efficient distribution of electricity and maintaining the grid's safety and quality. However, due to the increasing integration of intermittent renewable energy sources, there is a growing level of uncertainty, which requires a faster responsive approach. A potential solution involves the use of electrical segmentation, which involves creating coherence zones where electrical disturbances mainly remain within the zone. Indeed, by means of coherent electrical zones, it becomes possible to focus solely on the sub-zone, reducing the range of possibilities and aiding in managing uncertainty. It allows faster execution of operational processes and easier learning for supervised machine learning algorithms. Electrical segmentation can be applied to various applications, such as electrical control, minimizing electrical loss, and ensuring voltage stability. Since the electrical grid can be modeled as a graph, where the vertices represent electrical buses and the edges represent electrical lines, identifying coherent electrical zones can be seen as a clustering task on graphs, generally called community detection. Nevertheless, a critical criterion for the zones is their ability to remain resilient to the electrical evolution of the grid over time. This evolution is due to the constant changes in electricity generation and consumption, which are reflected in graph structure variations as well as line flow changes. One approach to creating a resilient segmentation is to design robust zones under various circumstances. This issue can be represented through a multiplex graph, where each layer represents a specific situation that may arise on the grid. Consequently, resilient segmentation can be achieved by conducting community detection on this multiplex graph. The multiplex graph is composed of multiple graphs, and all the layers share the same set of vertices. Our proposal involves a model that utilizes a unified representation to compute a flattening of all layers. This unified situation can be penalized to obtain (K) connected components representing the robust electrical segmentation clusters. We compare our robust segmentation to the segmentation based on a single reference situation. The robust segmentation proves its relevance by producing clusters with high intra-electrical perturbation and low variance of electrical perturbation. We saw through the experiences when robust electrical segmentation has a benefit and in which context.

Keywords: community detection, electrical segmentation, multiplex graph, power grid

Procedia PDF Downloads 51

Authors: Pisit Potjanajaruwit

Abstract:

The objective of this research was to study the influence of Integrated Marketing Communication on Buying Decision of Consumers in Bangkok. A total of 397 respondents were collected from customers who drive in Bangkok. A questionnaire was utilized as a tool to collect data. Statistics utilized in this research included frequency, percentage, mean, standard deviation, and multiple regression analysis. Data were analyzed by using Statistical Package for the Social Sciences. The findings revealed that the majority of respondents were male with the age between 25-34 years old, hold undergraduate degree, married and stay together. The average income of respondents was between 10,001-20,000 baht. In terms of occupation, the majority worked for private companies. The effect to the Buying Decision of Consumers in Bangkok to including sale promotion with the low interest and discount for an installment, selling by introducing and gave product information through sales persons, public relation by website, direct marketing by annual motor show and advertisement by television media.

Keywords: Bangkok metropolis, ECO car, integrated marketing communication, international standard

Procedia PDF Downloads 282

Authors: M. Ndeley

Abstract:

Now our days, Almost all manufacturing facilities need to use production planning and scheduling systems to increase productivity and to reduce production costs. Real-life production operations are subject to a large number of unexpected disruptions that may invalidate the original schedules. In these cases, rescheduling is essential to minimize the impact on the performance of the system. In this work we consider flow shop layouts that have seldom been studied in the rescheduling literature. We generate and employ three types of disruption that interrupt the original schedules simultaneously. We develop rescheduling algorithms to finally accomplish the twofold objective of establishing a standard framework on the one hand; and proposing rescheduling methods that seek a good trade-off between schedule quality and stability on the other.

Keywords: flow shop scheduling, uncertainty, rescheduling, stability

Procedia PDF Downloads 418

Authors: Anthony Coogan

Abstract:

Born’s probability interpretation of wave functions would have led to nearly identical results had he chosen a frequency interpretation instead. Logically, Born may have assumed that only one electron was under consideration, making it nonsensical to propose a frequency wave. Author’s suggestion: the actual experimental results were not of a single electron; rather, they were groups of reflected x-ray photons. The vertical waveform used by Scrhödinger in his Particle in the Box Theory makes sense if it was intended to represent a quantum leap. The author extended the single vertical panel to form a bar chart: separate panels would represent different energy levels. The proposed bar chart would be populated by reflected photons. Expansion of basic ideas: Part of Scrhödinger’s ‘Particle in the Box’ theory may be valid despite negative criticism. The waveform used in the diagram is vertical, which may seem absurd because real waves decay at a measurable rate, rather than instantaneously. However, there may be one notable exception. Supposedly, following from the theory, the Uncertainty Principle was derived – may a Quantum Leap not be represented as an instantaneous waveform? The great Scrhödinger must have had some reason to suggest a vertical waveform if the prevalent belief was that they did not exist. Complex wave forms representing a particle are usually assumed to be continuous. The actual observations made were x-ray photons, some of which had struck an electron, been reflected, and then moved toward a detector. From Born’s perspective, doing similar work the years in question 1926-7, he would also have considered a single electron – leading him to choose a probability distribution. Probability Distributions appear very similar to Frequency Distributions, but the former are considered to represent the likelihood of future events. Born’s interpretation of the results of quantum experiments led (or perhaps misled) many researchers into claiming that humans can influence events just by looking at them, e.g. collapsing complex wave functions by 'looking at the electron to see which slit it emerged from', while in reality light reflected from the electron moved in the observer’s direction after the electron had moved away. Astronomers may say that they 'look out into the universe' but are actually using logic opposed to the views of Newton and Hooke and many observers such as Romer, in that light carries information from a source or reflector to an observer, rather the reverse. Conclusion: Due to the controversial nature of these ideas, especially its implications about the nature of complex numbers used in applications in science and engineering, some time may pass before any consensus is reached.

Keywords: complex wave functions not necessary, frequency distributions instead of wave functions, information carried by light, sketch graph of uncertainty principle

Procedia PDF Downloads 174

Authors: Arezoo Heidary, Abolfazl Mirzazadeh, Aref Gholami-Qadikolaei

Abstract:

In the business environment it is very common that a lot received may not be equal to quantity ordered. in this work, a random disturbance in a received quantity is considered. It is assumed a maximum allowable limit for storage space and inventory investment.The impact of lead time and ordering cost reductions once they act dependently is also investigated. Further, considering a mixture of back order and lost sales for allowable shortage system, the effect of investment on reducing lost sale rate is analyzed. For the proposed control system, a Lagrangian method is applied in order to solve the problem and an algorithmic procedure is utilized to achieve optimal solution with the global minimum expected cost. Finally, proves on concavity and convexity of the model in the decision variables are shown.

Keywords: stochastic inventory system, lead time, ordering cost, lost sale rate, inventory constraints, random disturbance

Procedia PDF Downloads 392

Authors: Mark Lokanan

Abstract:

The paper analyzes the processing of complaints against investment brokers and dealer members through the Investment Industry Regulatory Organization of Canada (IIROC) from 2008 to 2017. IIROC is the self-regulatory organization (SRO) that is responsible for policing investment dealers and brokerage firms that trade in Canada’s securities market. Data from the study came from IIROC's enforcement annual reports for the years examined. The case processing is evaluated base on the misconduct funnel that was originally designed for street crime and applies to the enforcement of investment fraud. The misconduct funnel is used as a framework to examine IIROC’s claim that it brought in more complaints (funnel in) than government regulators and shows how these complaints are funneled out and funneled away as they are processed through IIROC’s enforcement system. The results indicate that IIROC is ineffective in disciplining its members and is unable to handle the more serious quasi-criminal and improper sales practices offenses. It is hard not to see the results of the paper being used by the legislator in Ottawa to show the importance of a federal securities regulatory agency such as the Securities and Exchange Commission (SEC) in the United States.

Keywords: investment fraud, securities regulation, compliance, enforcement

Procedia PDF Downloads 137

Authors: Mehrdad HassanZadeh Dugoori, Iman Mohammadali Tajrishi

Abstract:

Since Iran's nuclear program became public in 2002, the International Atomic Energy Agency (IAEA) has been unable to confirm Tehran's assertions that its nuclear activities are exclusively for peaceful purposes and that it has not sought to develop nuclear weapons. The United Nations Security Council has adopted six resolutions since 2006 requiring Iran to stop enriching uranium - which can be used for civilian purposes, but also to build nuclear bombs, which Iran never follow this strategy- and co-operate with the IAEA. Four resolutions have included progressively expansive sanctions to persuade Tehran to comply. The US and EU have imposed additional sanctions on Iranian oil exports and banks since 2012. In this article we reassess the sanction dimensions of Iran and the influences. Then according to the last agreement between P5+1 and Iran in 15 July 2015, we mention reconstruction strategies for oil export markets of Iran and the operational program for one million barrel of crude oil sales per day. These strategies are the conclusion of focus group and brain storming with Iran's oil and gas managers during content analysis.

Keywords: post-sanction, oil market, reconstruction, marketing, strategy

Procedia PDF Downloads 426

Authors: Guilherme Gorgulho, Carlos Roberto Camello Lima

Abstract:

Over the past five years between 2011 and 2015, the license plate of cars, light commercial vehicles, trucks and buses have suffered retraction. This sector's decline can be explained by economic and national policy in the Brazilian industry operates. In parallel to the reduction of sales and license plate of vehicles, their suppliers are also affected influencing its results, among these vendors, there is the auto parts sector. The existence of international companies, and featured strongly in Asia and Mexico due to low production costs, encourage companies to constantly seek continuous improvement and operational efficiency. Under this argument, the decision making based on lean manufacturing tools it is essential for the management of operations. The purpose of this article is to analyze between lean practices in Brazilian auto parts industries, through the application of a questionnaire with employees who practice lean thinking in organizations. The purpose is to confront the extracted data in the questionnaires, and debate on which of lean tools help organizations as a competitive advantage.

Keywords: autoparts, brazilian industry, lean practices, survey

Procedia PDF Downloads 302

Authors: R. H. Fattepur, Sameer R. Fattepur, D. K. Sreekantha

Abstract:

Dairy Farming is one of the key industries in India. India is the leading producer and also the consumer of milk, milk-based products in the world. In this paper, we have attempted to the replace the human expert system and to develop an artificial expert system prototype to increase the speed and accuracy of decision making dairy farming credit risk evaluation. Fuzzy logic is used for dealing with uncertainty, vague and acquired knowledge, fuzzy rule base method is used for representing this knowledge for building an effective expert system.

Keywords: expert system, fuzzy logic, knowledge base, dairy farming, credit risk

Procedia PDF Downloads 337

Authors: K. E. Daryani, H. Mohamad

Abstract:

Uncertainties in the geo-structure analysis and design have a significant impact on the safety of slopes. Traditionally, uncertainties in the geotechnical design are addressed by incorporating a conservative factor of safety in the analytical model. In this paper, a risk-based approach is adopted to assess the influence of the geotechnical variable uncertainties on the stability of infinite slopes in cohesionless soils using the “partial factor of safety on shear strength” approach as stated in Eurocode 7. Analyses conducted using Monte Carlo simulation show that the same partial factor can have very different levels of risk depending on the degree of uncertainty of the mean values of the soil friction angle and void ratio.

Keywords: Safety, Probability of Failure, Reliability, Infinite Slopes, Sand.

Procedia PDF Downloads 549

Authors: C. Shih, J. R. Wang, H. C. Chang, S. W. Chen, S. C. Chiang, T. Y. Yu

Abstract:

After the measurement uncertainty recapture (MUR) power uprates, Kuosheng nuclear power plant (NPP) was uprated the power from 2894 MWt to 2943 MWt. For power upgrade, several codes (e.g., TRACE, RELAP5, etc.) were applied to assess the safety of Kuosheng NPP. Hence, the main work of this research is to establish a RELAP5/MOD3.3 model of Kuosheng NPP with SNAP interface. The establishment of RELAP5/SNAP model was referred to the FSAR, training documents, and TRACE model which has been developed and verified before. After completing the model establishment, the startup test scenarios would be applied to the RELAP5/SNAP model. With comparing the startup test data and TRACE analysis results, the applicability of RELAP5/SNAP model would be assessed.

Keywords: RELAP5, TRACE, SNAP, BWR

Procedia PDF Downloads 399

Authors: Veruska C. Dutra, Mary L. G. S. Senna

Abstract:

The development of tourism is on the use of landscapes, natural or constructed, which involves a number of factors that contribute to the deterioration of nature. Tourist activity coupled with sustainable development has led to the emergence of many questions about these terms, since they are not well defined in this sense through literature searches. The present study was to analyze the main concepts and discussions involving sustainable tourism, providing reflections that can cause answers about one of the main questions in today's activity sector on whether its sustainability is a myth or reality. The methodology of this study is discussions, theoretical studies and bibliographic research. The results showed that the scholars who address the issue, often leave uncertainty about some discussions that demonstrate that there are still many studies to be conducted in order to prove that the claims so as to form the basis of what will be Tourism sustainable.

Keywords: tourism, sustainability, development, discussions

Procedia PDF Downloads 151

Authors: Reem Abou Refaie, Christoph Meinel

Abstract:

The paper explores the impact of the COVID-19 crisis on the internal as well as external digitalized work practices of public service providers as part of a Public-Private Partnership Model. It focuses on the effect of uncertainty on generating Open Innovation practices. Our inquiry relies on semi-structured interviews (n=14) from a case study of Rwanda’s Public Service Delivery System in the context of research cooperation with IremboGov, the country’s One-Stop-Shop Platform for public services. It presents four propositions on harnessing opportunities for OI in the context of the public sector beyond the pandemic response. Practitioners can find characterizations of OI opportunities and gain insights on fostering OI in Public Sector Organizations.

Keywords: open innovation, digital transformation, public sector, Rwanda

Procedia PDF Downloads 102

Authors: Mona Baniahmadi, Saied Haghanifar

Abstract:

Radio Frequency Identification (RFID) is regarded as a promising technology for the optimization of supply chain processes since it improves manufacturing and retail operations from forecasting demand for planning, managing inventory, and distribution. This study precisely aims at learning to know the RFID technology and at explaining how it can concretely be used for supply chain management and how it can help improving it in the case of Hejrat Company which is located in Iran and works on the distribution of medical drugs and cosmetics. This study uses some statistical analysis to calculate the expected benefits of an integrated RFID system on supply chain obtained through competitive advantages increases with decreasing cost factor. The study investigates how the cost of storage process, labor cost, the cost of missing goods, inventory management optimization, on-time delivery, order cost, lost sales and supply process optimization affect the performance of the integrated RFID supply chain regarding cost factors and provides a competitive advantage.

Keywords: cost, competitive advantage, radio frequency identification, supply chain

Procedia PDF Downloads 248

Authors: Poonsuck Thatchaopas, Nik Kamariah Nik Mat, Nattakarn Eakuru

Abstract:

“One College One Product” OCOP business model is launched by the Vocational Education Commission to encourage college students to choose at least one product for business venture. However, the number of successful OCOP projects is still minimal. The objective of this paper is to identify the critical success factors needed to be a successful OCOP business entrepreneur. This study uses qualitative method by interviewing business partners of an OCOP business called Crispy Roti Krua Acheeva Brand (CRKAB). This project was initiated by three female alumni students of the CRKAB. The finding shows that the main critical success factors are self-confidence, creativity or innovativeness, knowledge, skills and perseverance. Additionally, they reiterated that the keys to business success are product quality, perceived price, promotion, branding, new packaging to increase sales and continuous developments. The results implies for a business SME to be successful, the company should have credible partners and effective marketing plan.

Keywords: new entrepreneurship student model, business incubator, food industry, Pattani Province, Thailand

Procedia PDF Downloads 357

Authors: Mojtaba Rezaei, Elham Heydari

Abstract:

This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.

Keywords: accounting information, market risk, systematic risk, stock return, efficient market hypothesis, EMH, Tehran stock exchange, TSE

Procedia PDF Downloads 109

Authors: Cruz, G. P., Nagamatsu, R. N., Scacchetti, F. A. P., Merlin, F. K.

Abstract:

This study aims to assess a set of technical parameters that provide quality products to the companies that produce caps, APL Apucarana / PR, the city that produces most Brazilian caps, in order to verify the potential of Brazilian caps to compete with international brands, recognized by the standard of excellence when it comes to quality of its products. The determination of the technical parameters was arbitrated from textile ABNT, a total of six technical parameters, providing eight tests for cotton caps. For the evaluation, we used as reference a leading brand recognized worldwide (based on their sales volume in $) for comparison with 3 companies of the APL Apucarana. The results showed that, of the 8 tests, of 8 tests, the companies Apucarana did not obtain better performance than the competitor. They obtained the same results in three tests and lower performance in 5. Given these values, it is concluded that local caps are not far from reaching the quality of leading brand. It is recommended that the APL companies use the parameters to evaluate their products, using this information to support decision-making that seek to improve both the product design and its production process, enabling the feasibility for faster international recognition . Thus, they may have an edge over its main competitor.

Keywords: technical parameters, making caps, quality, evaluation

Procedia PDF Downloads 320

Authors: Mohammad Javad Mollakazemi, Farhad Asadi

Abstract:

In this paper a real-time obstacle avoidance approach for both autonomous and non-autonomous dynamical systems (DS) is presented. In this approach the original dynamics of the controller which allow us to determine safety margin can be modulated. Different common types of DS increase the robot’s reactiveness in the face of uncertainty in the localization of the obstacle especially when robot moves very fast in changeable complex environments. The method is validated by simulation and influence of different autonomous and non-autonomous DS such as important characteristics of limit cycles and unstable DS. Furthermore, the position of different obstacles in complex environment is explained. Finally, the verification of avoidance trajectories is described through different parameters such as safety factor.

Keywords: limit cycles, nonlinear dynamical system, real time obstacle avoidance, safety margin

Procedia PDF Downloads 419

Authors: Sara Zadehomidi

Abstract:

Iran, a geographically arid and semi-arid country, experiences varying levels of rainfall across its territory. Five major and important rivers, namely Karun, Dez, Karkheh, Jarrahi, and Hendijan, are valuable assets of the Khuzestan province. To address various needs, including those of farmers (especially during hot seasons with no rainfall), drinking water requirements, industrial and environmental, and most importantly, electricity production, dams have been constructed on several of these rivers, with some dams still under construction. The outflow of water from dam reservoirs must be managed in a way that not only preserves the reservoir's potential effectively but also ensures the maximum revenue from electricity generation. Furthermore, it should meet the other mentioned requirements. In this study, scientific methods such as optimization using Lingo software were employed to achieve these objectives. The results, when executed and adhering to the proposed electricity production program with Lingo software, indicate a 35.7% increase in electricity sales revenue over a one-year examination period. Considering that several electricity plants are currently under construction, the importance and necessity of utilizing computer systems for expediting and optimizing the electricity generation program planning from electricity plants will become evident in the future.

Keywords: Ahvaz, electricity generation programs, Iran, optimizing

Procedia PDF Downloads 35

Authors: Stepan Kuchar, Martin Golasowski, Radim Vavrik, Michal Podhoranyi, Boris Sir, Jan Martinovic

Abstract:

The main goal of this article is to describe the online flood monitoring and prediction system Floreon+ primarily developed for the Moravian-Silesian region in the Czech Republic and the basic process it uses for running automatic rainfall-runoff and hydrodynamic simulations along with their calibration and uncertainty modeling. It takes a long time to execute such process sequentially, which is not acceptable in the online scenario, so the use of high-performance computing environment is proposed for all parts of the process to shorten their duration. Finally, a case study on the Ostravice river catchment is presented that shows actual durations and their gain from the parallel implementation.

Keywords: flood prediction process, high performance computing, online flood prediction system, parallelization

Procedia PDF Downloads 471

Authors: Arezoo Sadrinezhad, Kallol Sett, S. I. Hariharan

Abstract:

In this paper, a probabilistic framework based on Fokker-Planck-Kolmogorov (FPK) approach has been applied to simulate triaxial cyclic constitutive behavior of uncertain soils. The framework builds upon previous work of the writers, and it has been extended for cyclic probabilistic simulation of triaxial undrained behavior of soils. von Mises elastic-perfectly plastic material model is considered. It is shown that by using probabilistic framework, some of the most important aspects of soil behavior under cyclic loading can be captured even with a simple elastic-perfectly plastic constitutive model.

Keywords: elasto-plasticity, uncertainty, soils, fokker-planck equation, fourier spectral method, finite difference method

Procedia PDF Downloads 346

Authors: Mauricio Becerra Fernández, Olga Rosana Romero Quiroga, Elsa Cristina González La Rotta

Abstract:

The logistics facilities design and construction is one of the strategic decisions that critically affects the performance of the company, from the economic perspective and relationship with customers. The case study company is the Colombian logistic sector leader, with over 60 years of experience, with sales of about one hundred twenty million dollars at the end of 2014. The preliminary design for the warehouse layout and operation includes a customer that provides approximately 17% of the profits of the company, considering the possibility of moving two forklifts in the warehouse halls. Some changes were not consider in previous stages of design, operations required forklift with different characteristics, whose size, do not allow the circulation of more than a forklift at a time. Therefore, it is necessary to assess the impact of this restriction on the warehouse operation, so decision makers implement actions to achieve efficient operation. The problem is addressed by recognizing logistics processes, which develop in a warehouse, collection of processes information behavior, the simulation of the current situation using ProModel software, model validation, making adjustments required, experiments design, conclusions and recommendations for the company.

Keywords: design, discrete events simulation, forklift allocation, logistics facilities, warehouse

Procedia PDF Downloads 275

Authors: Alexander P. Vazhenin, Mikhail M. Lavrentiev, Alexey A. Romanenko, Pavel V. Tatarintsev

Abstract:

One of the problems obstructing effective tsunami modelling is the lack of information about initial wave shape at source. The existing methods; geological, sea radars, satellite images, contain an important part of uncertainty. Therefore, direct measurement of tsunami waves obtained at the deep water bottom peruse recorders is also used. In this paper we propose a new method to reconstruct the initial sea surface displacement at tsunami source by the measured signal (marigram) approximation with the help of linear combination of synthetic marigrams from the selected set of unit sources, calculated in advance. This method has demonstrated good precision and very high performance. The mathematical model and results of numerical tests are here described.

Keywords: numerical tests, orthogonal decomposition, Tsunami Initial Sea Surface Displacement

Procedia PDF Downloads 440

Authors: Hanee Ryu

Abstract:

The supporting policies for renewable energy have been designed to deploy renewable energy technology targeting domestic market. The government encourages market creation through obligations such as FIT or RPS on an energy supplier. With these policy measures, the securing vast market needs to induce technology development. Furthermore, it is crucial that ensuring developing market can make the environment nurture the renewable energy industry. Overseas expansion to countries being in demand is essential under immature domestic market. Extending its business abroad can make the domestic company get the knowledge through learning-by-doing. Besides, operation in the countries to be rich in renewable resources such as weather conditions helps to develop proven track record required for verifying technologies. This paper figures out the factor to hamper the global market entry and build up the strategies to overcome difficulties. Survey conducted renewable energy company having overseas experiences at least once. Based on the survey we check the obstacle against exporting home goods and services. As a result, securing funds is salient fact to proceed to business. It is difficult that only private bank or investment agencies participate in the project under uncertainty which renewable energy development project bears inherently. These uncertainties need public fund such as ODA to encourage private sectors to start a business. Furthermore, international organizations such as IRENA or multilateral development banks as WBG play a role to guarantee the investment including risk insurance against uncertainty. It can also manage excavation business cooperating with developing countries and supplement inadequate government funding involved. With survey results strategies to obtain the order, the international organization places are categorized according to the type of getting a contract. This paper suggests 3 types approaching to the international organization project (going through international competitive bidding, using ODA and project financing) and specifies the role of government to support the domestic firms with running out of funds. Under renewable energy industry environment where hard to being created as a spontaneous market, government policy approach needs to motivate the actors to get into the business. It is one of the good strategies that countries with the low demand of renewable energies participate in the project international agencies order in the developing countries having abundant resources. This provides crucial guidance for the formulation of renewable energy development policy and planning with consideration of business opportunities and funding.

Keywords: exporting strategies, multilateral development banks, promoting in developing countries, renewable energy technologies

Procedia PDF Downloads 499

Authors: Winita Kitisak, Boontarika Panyomoon, Siriyakorn Nilpoun, Nithit Yosit, Peeraya Somsak

Abstract:

The purpose of this study will affect the marketing mix that influences the consumers’ behavior towards beverage purchasing from retail stores. It aims to study the consumers and to better understand their behaviors and factors influencing their decision making on buying beverage in retail stores. We study the example of 400 consumers in Chiang Mai. The study shows that most of the respondents were male, 50 percent is 20-30 year old, and 36.66 percent is 31-40 year old, only 2.66 percent is upper 50 years old, bachelor’s degree holders, working in business field and student with 10,001-15,000 Baht income. Most buyers spend 4-6 times a week buying cheap beverage from retail stores. The consumer bought alcoholic beverages, green tea drinks, and soft drinks, but the mainly purchased product was beer. The results indicate that the brand of the product motivates more on consumers’ demand. While shelf displays, products presentation, and sales promotion affect the most on the consumers’ decision to purchase from the retail stores, the promotions moderately impact the consumers’ decision on purchasing from retail stores.

Keywords: consumer behavior, beverage, retail stores, convenience store

Procedia PDF Downloads 200

Authors: Hasan Alrashid

Abstract:

The 2005 Hague Convention seeks to ensure legal certainty and predictability between parties in international business transactions. It harmonies exclusive choice of court agreements at the international level between parties to commercial transactions and to govern the recognition and enforcement of judgments resulting from proceedings based on such agreements to promote international trade and investment. Although the choice of court agreements is significant in international business transactions, the United Arab Emirates refuse to recognise it by Article 24 of the Federal Law No. 11 of 1992 of the Civil Procedure Code. A review of judicial judgments in United Arab Emirates up to the present day has revealed that several cases appeared before the Court in different states of United Arab Emirates regarding the recognition of exclusive choice of court agreements. In all the cases, the courts regarded the exclusive choice of court agreements as a direct assault on state authority and sovereignty and refused categorically to recognize choice of court agreements by refusing to stay proceedings in favor of the foreign chosen court. This has created uncertainty and unpredictability in international business transaction in the United Arab Emirates. In June 2011, the first Gulf Judicial Seminar on Cross-Frontier Legal Cooperation in Civil and Commercial Matters was held in Doha, Qatar. The Permanent Bureau of the Hague Conference attended the conference and invited the states of the Gulf Cooperation Council (GCC) namely, The United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait to adopt some of the Hague Conventions, one of which was the Hague Convention on Choice of Court Agreements. One of the recommendations of the conference was that the GCC states should research ‘the benefits of predictability and legal certainty provided by the 2005 Convention on Choice of Court Agreements and its resulting advantages for cross-border trade and investment’ for possible adoption of the Hague Convention. Up to today, no further step has been taken by the any of the GCC states to adapt the Hague Convention nor did they conduct research on the benefits of predictability and legal certainty in international business transactions. This paper will argue that the approach regarding the recognition of choice of court agreements in United Arab Emirates states can be improved in order to help the parties in international business transactions avoid parallel litigation and ensure legal certainty and predictability. The focus will be the uncertainty and gaps regarding the choice of court agreements in the United Arab Emirates states. The Hague Convention on choice of court agreements and the importance of harmonisation of the rules of choice of court agreements at international level will also be discussed. Finally, The feasibility and desirability of recognizing choice of court agreements in United Arab Emirates legal system by becoming a party to the Hague Convention will be evaluated.

Keywords: choice of court agreements, party autonomy, public authority, sovereignty

Procedia PDF Downloads 222

Authors: Ramon Erasmo Verdin Rodriguez

Abstract:

Many has been the ways that historically the managers and gurus has been trying to get closer to the perfect supply chain, but since this topic is so vast and very complex the bigger the companies are, the duty has not been certainly easy. On this research, you are going to see thru the entrails of the logistics that happens at a glass manufacturing company with the number one raw material of the process that is the silica sand. After a very quick passage thru the supply chain, this document is going to focus on the way that raw materials flow thru the system, so after that, an analysis and research can take place to improve the logistics. Thru Operations Research techniques, it will be analyzed the current scheme of distribution and inventories of raw materials at a glass company’s plants, so after a mathematical conceptualization process, the supply chain could be optimized with the purpose of reducing the uncertainty of supply and obtaining an economic benefit at the very end of this research.

Keywords: inventory management, operations research, optimization, supply chain

Procedia PDF Downloads 303

Authors: Sun-Young Jang, Sung-Ah Kim, Dongyoun Shin

Abstract:

Current real-estate value estimation, difficult for laymen, usually is performed by specialists. This paper presents an automated estimation process based on big data and machine-learning technology that calculates influences of building conditions on real-estate price measurement. The present study analyzed actual building sales sample data for Nonhyeon-dong, Gangnam-gu, Seoul, Korea, measuring the major influencing factors among the various building conditions. Further to that analysis, a prediction model was established and applied using RapidMiner Studio, a graphical user interface (GUI)-based tool for derivation of machine-learning prototypes. The prediction model is formulated by reference to previous examples. When new examples are applied, it analyses and predicts accordingly. The analysis process discerns the crucial factors effecting price increases by calculation of weighted values. The model was verified, and its accuracy determined, by comparing its predicted values with actual price increases.

Keywords: apartment complex, big data, life-cycle building value analysis, machine learning

Procedia PDF Downloads 353

Authors: Balarabe Z. Ahmad, Anne-Lorène Vernay

Abstract:

The emergence of electricity in Nigeria was dated back to 1896. The power plants have the potential to generate 12,522 MW of electric power. Whereas current dispatch is about 4,000 MW, access to electrification is about 60%, with consumption at 0.14 MWh/capita. The government embarked on energy reforms to mitigate energy poverty. The reform targeted the provision of electricity access to 75% of the population by 2020 and 90% by 2030. Growth of total electricity demand by a factor of 5 by 2035 had been projected. This means that Nigeria will require almost 530 TWh of electricity which can be delivered through generators with a capacity of 65 GW. Analogously, the geographical location of Nigeria has placed it in an advantageous position as the source of solar energy; the availability of a high sunshine belt is obvious in the country. The implication is that the far North, where energy poverty is high, equally has about twice the solar radiation as against southern Nigeria. Hence, the chance of generating solar electricity is 66% possible at 11850 x 103 GWh per year, which is one hundred times the current electricity consumption rate in the country. Harvesting these huge potentials may be a mirage if the entrepreneurs in the solar panel business are left with the conventional business models that are not uncertainty resilient. Currently, business entities in RE in Nigeria are uncertain of; accessing the national grid, purchasing potentials of cooperating organizations, currency fluctuation and interest rate increases. Uncertainties such as the security of projects and government policy are issues entrepreneurs must navigate to remain sustainable in the solar panel industry in Nigeria. The aim of this paper is to identify how entrepreneurial firms consider uncertainties in developing workable business models for commercializing solar energy projects in Nigeria. In an attempt to develop a novel business model, the paper investigated how entrepreneurial firms assess and navigate uncertainties. The roles of key stakeholders in helping entrepreneurs to manage uncertainties in the Nigeria RE sector were probed in the ongoing study. The study explored empirical uncertainties that are peculiar to RE entrepreneurs in Nigeria. A mixed-mode of research was embraced using qualitative data from face-to-face interviews conducted on the Solar Energy Entrepreneurs and the experts drawn from key stakeholders. Content analysis of the interview was done using Atlas. It is a nine qualitative tool. The result suggested that all stakeholders are required to synergize in developing an uncertainty resilient business model. It was opined that the RE entrepreneurs need modifications in the business recommendations encapsulated in the energy policy in Nigeria to strengthen their capability in delivering solar energy solutions to the yawning Nigerians.

Keywords: uncertainties, entrepreneurial, business model, solar-panel

Procedia PDF Downloads 124