Search results for: optimal portfolio

Authors: Mohsen Ziaee

Abstract:

Almost all existing researches on the flowshop scheduling problems focus on the permutation schedules and there is insufficient study dedicated to the general flowshop scheduling problems in the literature, since the modeling and solving of the general flowshop scheduling problems are more difficult than the permutation ones, especially for the large-size problem instances. This paper considers the general flowshop scheduling problem with the objective function of the makespan (F//Cmax). We first find the optimal solution of the problem by solving a mixed integer linear programming model. An efficient heuristic method is then presented to solve the problem. An ant colony optimization algorithm is also proposed for the problem. In order to evaluate the performance of the methods, computational experiments are designed and performed. Numerical results show that the heuristic algorithm can result in reasonable solutions with low computational effort and even achieve optimal solutions in some cases.

Keywords: scheduling, general flow shop scheduling problem, makespan, heuristic

Procedia PDF Downloads 205

Authors: M. Debieche, F. Kaoua

Abstract:

This paper deals with the use two locals materials abundant in our country, with the view to use a mixture in the waterproofing the landfills. Our interest comes from the necessity to the environment protection, which has recently considerably grown. The site's waterproofing technique, in the landfills sites, is nowadays a very necessary condition to protect the environment, which requires the use of appropriate materials. To this end, an optimal mixture ensuring good performance in terms of hydraulic conductivity, durability and shear strength, mixtures based of sand at different concentrations of sodium bentonite, at compact state are prepared and studied. This study showed that a low permeability of mixture (sand / bentonite) can be achieved 6% of sodium bentonite. This mixture confers also good mechanical behavior, expressed by the recorded, reduction of friction (φ) and the increase of the cohesion (C). Thus, the selected formulation represents an optimal mixture for waterproofing systems. It guarantees an economical and ecological advantages.

Keywords: hydraulic conductivity, sand, sodium bentonite, sustainability

Procedia PDF Downloads 272

Authors: P. Sawatnatee, S. Udomsuk, K-N. Areerak, K-L. Areerak, A. Srikaew

Abstract:

The paper presents how to design the indirect vector control of three-phase induction motor drive systems using the artificial intelligence technique called the adaptive tabu search. The results from the simulation and the experiment show that the drive system with the controller designed from the proposed method can provide the best output speed response compared with those of the conventional method. The controller design using the proposed technique can be used to create the software package for engineers to achieve the optimal controller design of the induction motor speed control based on the indirect vector concept.

Keywords: indirect vector control, induction motor, adaptive tabu search, control design, artificial intelligence

Procedia PDF Downloads 395

Authors: M. Benjamin Stacey

Abstract:

Energy efficiency has been increasingly recognized as a high value resource through state policies that require utility companies to implement efficiency programs. While policymakers have recognized the statewide economic, environmental, and health related value to residents who rely on this grid supplied resource, varying interests in energy efficiency between socioeconomic groups stands undifferentiated in most state legislation. Instead, the benefits are oftentimes assumed to be distributed equitably across these groups. Despite this fact, these policies are frequently sited by advocacy groups, regulatory bodies and utility companies for their ability to address the negative financial, health and other social impacts of energy poverty in low income communities. Yet, while most states like Michigan require programs that target low income consumers, oftentimes no requirements exist for the equitable investment and energy savings for low income consumers, nor does it stipulate minimal spending levels on low income programs. To further understand the impact of the absence of these factors in legislation, this study examines the distribution of program funds and energy efficiency savings to answer a fundamental energy justice concern; Are there disparities in the investment and benefits of energy efficiency programs between socioeconomic groups? This study compiles data covering the history of Michigan’s Energy Efficiency policy implementation from 2010-2016, analyzing the energy efficiency portfolios of Michigan’s two main energy providers. To make accurate comparisons between these two energy providers' investments and energy savings in low and non-low income programs, the socioeconomic variation for each utility coverage area was captured and accounted for using GIS and US Census data. Interestingly, this study found that both providers invested more equitably in natural gas efficiency programs, however, together these providers invested roughly three times less per household in low income electricity efficiency programs, which resulted in ten times less electricity savings per household. This study also compares variation in commission approved utility plans and actual spending and savings results, with varying patterns pointing to differing portfolio management strategies between companies. This study reveals that for the history of the implementation of Michigan’s Energy Efficiency Policy, that the 35% of Michigan’s population who qualify as low income have received substantially disproportionate funding and energy savings because of the policy. This study provides an overview of results from a social perspective, raises concerns about the impact on energy poverty and equity between consumer groups and is an applicable tool for law makers, regulatory agencies, utility portfolio managers, and advocacy groups concerned with addressing issues related to energy poverty.

Keywords: energy efficiency, energy justice, low income, state policy

Procedia PDF Downloads 186

Authors: Iván Rivet, Narges Dialami, Miguel Cervera, Michele Chiumenti

Abstract:

Process parameters in Additive Manufacturing (AM) play a critical role in the mechanical performance of the final component. In order to find the input configuration that guarantees the optimal performance of the printed part, the process-performance relationship must be found. Fused Filament Fabrication (FFF) is the selected demonstrative AM technology due to its great popularity in the industrial manufacturing world. A material model that considers the different printing patterns present in a FFF part is used. A voxelized mesh is built from the manufacturing toolpaths described in the G-Code file. An Adaptive Mesh Refinement (AMR) based on the octree strategy is used in order to reduce the complexity of the mesh while maintaining its accuracy. High-fidelity and cost-efficient Finite Element (FE) simulations are performed and the influence of key process parameters in the mechanical performance of the component is analyzed. A robust optimization process based on appropriate failure criteria is developed to find the printing direction that leads to the optimal mechanical performance of the component. The Tsai-Wu failure criterion is implemented due to the orthotropy and heterogeneity constitutive nature of FFF components and because of the differences between the strengths in tension and compression. The optimization loop implements a modified version of an Anomaly Detection (AD) algorithm and uses the computed metrics to obtain the optimal printing direction. The developed methodology is verified with a case study on an industrial demonstrator.

Keywords: additive manufacturing, optimization, printing direction, mechanical performance, voxelization

Procedia PDF Downloads 62

Authors: Samira Mohabbatdar, Abbas Ahmadi, Mohsen S. Sajadieh

Abstract:

This paper deals with a two-level supply chain consisted of one manufacturer and one retailer for single-type product. The demand function of the customers depends on price. We consider an integrated production inventory system where the manufacturer processes raw materials in order to deliver finished product with imperfect quality to the retailer. Then retailer inspects the products and after that delivers perfect products to customers. The proposed model is based on the joint total profit of both the manufacturer and the retailer, and it determines the optimal ordering lot-size, number of shipment and selling price of the retailer. A numerical example is provided to analyse and illustrate the behaviour and application of the model. Finally, sensitivity analysis of the key parameters are presented to test feasibility of the model.

Keywords: supply chain, pricing policy, defective quality, joint economic lot sizing

Procedia PDF Downloads 335

Authors: Walid S. Alfuhaid, Saud A. Alghamdi, John M. Watkins, M. Edwin Sawan

Abstract:

Designing a controller for stochastic decentralized interconnected large scale systems usually involves a high degree of complexity and computation ability. Noise, observability, and controllability of all system states, connectivity, and channel bandwidth are other constraints to design procedures for distributed large scale systems. The quasi-steady state model investigated in this paper is a reduced order model of the original system using singular perturbation techniques. This paper results in an optimal control synthesis to design an observer based feedback controller by standard stochastic control theory techniques using Linear Quadratic Gaussian (LQG) approach and Kalman filter design with less complexity and computation requirements. Numerical example is given at the end to demonstrate the efficiency of the proposed method.

Keywords: decentralized, optimal control, output, singular perturb

Procedia PDF Downloads 367

Authors: Anchal Gupta

Abstract:

Amid the escalating digitalization and deployment of cross-border technological solutions, a significant portion of the industry and regulatory bodies have begun to pose queries concerning the formulation, computation, and contemplation of concentration risk. In the financial sector, well-established parameters exist for gauging the concentration of a portfolio and similar elements. However, a unified framework appears to be absent, which could guide industry and regulators pertaining to non-financial concentration risk. This paper introduces a framework, constructed on the foundation of multiple regulations where regulators are advocating for licensed corporations to evaluate their concentration risk. The lacuna lies in the fact that, while regulators delineate what constitutes concentration risk, unlike other domains, no guidelines are provided that could assist firms. This frequently results in ambiguity and individual corporate interpretation, which, from a risk management standpoint, is less than ideal.

Keywords: concentration risk, non-financial risk, government regulation, financial regulation, non-market risk, MAS, DORA, EDSP, SFC

Procedia PDF Downloads 39

Authors: Linda Kauškale, Ineta Geipele

Abstract:

Due to the rapidly changing external environment, portfolio management strategies became closely interconnected with real estate industry development and macroeconomic development tendencies. The aim of the research is to analyze sustainable real estate market development influencing factors, with particular focus on its economic and management aspects that influences real estate investment decisions as well. Scientific literature and article analysis, data analysis, expert evaluation, and other quantitative and qualitative research methods were used in the research. Developed real estate market sustainability model and index analysis approach can be applied by investors and real estate companies in real estate asset management and can help in risk minimization activities in international entrepreneurship. Future research directions have been identified in the research as well.

Keywords: indexes, investment decisions, real estate market, sustainability

Procedia PDF Downloads 357

Authors: Jongho Park, Jinwoong Choi, Sungnam Hong, Seung-Kyung Kye, Sun-Kyu Park

Abstract:

Recently, to cope with the rapidly changing construction trend because of aging infrastructures, modular bridge technology has been studied actively. Modular bridge is easily constructed by assembling standardized precast structure members in the field. It will be possible to construct rapidly and reduce construction cost efficiently. However, the shape examination of the transverse connection of T-type girder newly developed between the segmented modules is not performed. Therefore, the investigation of the connection shape is needed. In this study, shape of the modular T-girder bridge transverse connection was analyzed by finite element model that was verified in study which was verification of model for transverse connection using Abaqus. Connection angle was chosen as the parameter. The result of analyses showed that optimal value of angle is 130 degree.

Keywords: modular bridge, optimal transverse shape, parameter, FEM

Procedia PDF Downloads 648

Authors: Alexander Aurell

Abstract:

One of the latest trends in the modeling of human crowds is the mean-field game approach. In the mean-field game approach, the motion of a human crowd is described by a nonstandard stochastic optimal control problem. It is nonstandard since congestion is considered, introduced through a dependence in the performance functional on the distribution of the crowd. This study extends the class of mean-field pedestrian crowd models to allow for non-local congestion and arbitrary, but finitely, many interacting crowds. The new congestion feature grants pedestrians a 'personal space' where crowding is undesirable. The model is treated as a mean-field type game which is derived from a particle picture. This, in contrast to a mean-field game, better describes a situation where the crowd can be controlled by a central planner. The latter is suitable for decentralized situations. Solutions to the mean-field type game are characterized via a Pontryagin-type Maximum Principle.

Keywords: congestion, crowd dynamics, interacting populations, mean-field approximation, optimal control

Procedia PDF Downloads 443

Authors: Ioannis P. Panapakidis, Marios N. Moschakis

Abstract:

The Greek Energy Market is structured as a mandatory pool where the producers make their bid offers in day-ahead basis. The System Operator solves an optimization routine aiming at the minimization of the cost of produced electricity. The solution of the optimization problem leads to the calculation of the System Marginal Price (SMP). Accurate forecasts of the SMP can lead to increased profits and more efficient portfolio management from the producer`s perspective. Aim of this study is to provide a comparative analysis of various machine learning models such as artificial neural networks and neuro-fuzzy models for the prediction of the SMP of the Greek market. Machine learning algorithms are favored in predictions problems since they can capture and simulate the volatilities of complex time series.

Keywords: deregulated energy market, forecasting, machine learning, system marginal price

Procedia PDF Downloads 214

Authors: S. Adhirai, R. P. Mahapatra, Paramjit Singh

Abstract:

Optimization is an important tool in making decisions and in analysing physical systems. In mathematical terms, an optimization problem is the problem of finding the best solution from among the set of all feasible solutions. The paper discusses the Whale Optimization Algorithm (WOA), and its applications in different fields. The algorithm is tested using MATLAB because of its unique and powerful features. The benchmark functions used in WOA algorithm are grouped as: unimodal (F1-F7), multimodal (F8-F13), and fixed-dimension multimodal (F14-F23). Out of these benchmark functions, we show the experimental results for F7, F11, and F19 for different number of iterations. The search space and objective space for the selected function are drawn, and finally, the best solution as well as the best optimal value of the objective function found by WOA is presented. The algorithmic results demonstrate that the WOA performs better than the state-of-the-art meta-heuristic and conventional algorithms.

Keywords: optimization, optimal value, objective function, optimization problems, meta-heuristic optimization algorithms, Whale Optimization Algorithm, implementation, MATLAB

Procedia PDF Downloads 369

Authors: Seyedomid Fatemi

Abstract:

The walls of the building, as the main intermediary between the outside and the inside of the building, play an important role in controlling the environmental conditions and ensuring the comfort of the residents, thus reducing the heating and cooling loads. Therefore, the use of suitable materials is considered one of the simplest and most effective ways to reduce the heating and cooling loads of the building, which will also save energy. Therefore, in order to achieve the goal of the research "Ranking of optimal materials for building walls," optimal materials for building walls in a temperate and humid climate (case example: Sari city) from the perspective of embodied energy, waste of electricity and gas energy, cost and reuse been investigated to achieve sustainable architecture. In this regard, using information obtained from Sari Municipality, design components have been presented by experts using the Delphi method. Considering the criteria of experts' opinions (cost and reuse), the amount of embodied energy of the materials, as well as the amount of waste of electricity and gas of different materials of the walls, with the help of the AHP weighting technique and finally with the TOPSIS technique, the best type of materials in the order of 1- 3-D Panel 2-ICF-, 3-Cement block with pumice, 4-Wallcrete block, 5-Clay block, 6-Autoclaved Aerated Concrete (AAC), 7-Foam cement block, 8-Aquapanel and 9-Reinforced concrete wall for use in The walls of the buildings were proposed in Sari city.

Keywords: optimum materials, building walls, moderate and humid climate, sustainable architecture, AHP-TOPSIS technique

Procedia PDF Downloads 75

Authors: Mohamed Raouf Benmakrelouf, Wafa Karouche, Joseph Rynkiewicz

Abstract:

In this paper, we propose an alternative method to construct a Bayesian Network (BN). This method relies on a convolutional neural network (CNN classifier), which determinates the edges of the network skeleton. We train a CNN on a normalized empirical probability density distribution (NEPDF) for predicting causal interactions and relationships. We have to find the optimal Bayesian network structure for causal inference. Indeed, we are undertaking a search for pair-wise causality, depending on considered causal assumptions. In order to avoid unreasonable causal structure, we consider a blacklist and a whitelist of causality senses. We tested the method on real data to assess the influence of education on the voting intention for the extreme right-wing party. We show that, with this method, we get a safer causal structure of variables (Bayesian Network) and make to identify a variable that satisfies the backdoor criterion.

Keywords: Bayesian network, structure learning, optimal search, convolutional neural network, causal inference

Procedia PDF Downloads 175

Authors: Lazic Marina, Sugden Scott, Sharma Kanta Hem, Sauvageau Dominic, Stein Lisa

Abstract:

Methane is a highly potent greenhouse gas mostly released through anthropogenic activities. Methane represents a low-cost and sustainable feedstock used for the biological production of value-added compounds by bacteria known as methanotrophs. In addition to methane, these organisms can utilize methanol, another cheap carbon source that is a common industrial by-product. Alphaproteobacteria methanotrophs can utilize both methane and methanol to produce the biopolymer polyhydroxybutyrate. The goal of this study was to examine the effect of methanol on polyhydroxybutyrate production in Methylocystis sp. Rockwell and to identify the optimal methane: methanol ratio that will improve PHB without reducing biomass production. Three methane: methanol ratios (4, 2.5., and 0.5) and three nitrogen source (ammonium or nitrate) concentrations (10 mM, 1 mM, and 0.1 mM) were combined to generate 18 growing conditions (9 per carbon source). The production of polyhydroxybutyrate and biomass was analyzed at the end of growth. Overall, the methane: methanol ratios that promoted polyhydroxybutyrate synthesis without reducing biomass were 4 and 2.5 and the optimal nitrogen concentration was 1 mM for both ammonium and nitrate. The physiological mechanism behind the beneficial effect of combining methane and methanol as carbon sources remain to be discovered. One possibility is that methanol has a dual role as a carbon source at lower concentrations and as a stringent response trigger at higher concentrations. Nevertheless, the beneficial effect of methanol and optimal nitrogen concentration for PHB production was confirmed, providing a basis for future physiological analysis and conditions for process scale-up.

Keywords: methane, methanol, methanotrophs, polyhydroxybutyrate, methylocystis sp. rockwell, single carbon bioconversions

Procedia PDF Downloads 169

Authors: David Pettitt, Benjamin Davies, Georg Holländer, David Brindley

Abstract:

Cellular based therapies, whose origins can be traced from the intertwined concepts of tissue engineering and regenerative medicine, have the potential to transform the current medical landscape and offer an approach to managing what were once considered untreatable diseases. However, despite a large increase in basic science activity in the cell therapy arena alongside a growing portfolio of cell therapy trials, the number of industry products available for widespread clinical use correlates poorly with such a magnitude of activity, with the number of cell-based therapeutics in mainstream use remaining comparatively low. This research serves to quantitatively assess the barriers to the clinical adoption of cell-based therapeutics through identification of unique barriers, specific challenges and opportunities facing the development and adoption of such therapies.

Keywords: cell therapy, clinical adoption, commercialization, translation

Procedia PDF Downloads 397

Authors: Mehmet Halkaci, Ekrem Öztürk, Mevlüt Türköz, H. Selçuk Halkacı

Abstract:

Hydromechanical deep drawing (HMD) process is an advanced manufacturing process used to form deep parts with only one forming step. In this process, sheet metal blank can be drawn deeper by means of fluid pressure acting on sheet surface in the opposite direction of punch movement. High limiting drawing ratio, good surface quality, less springback characteristic and high dimensional accuracy are some of the advantages of this process. The performance of the HMD process is affected by various process parameters such as fluid pressure, blank holder force, punch-die radius, pre-bulging pressure and height, punch diameter, friction between sheet-die and sheet-punch. The fluid pressure and bank older force are the main loading parameters and affect the formability of HMD process significantly. The punch diameter also influences the limiting drawing ratio (the ratio of initial sheet diameter to punch diameter) of the sheet metal blank. In this research, optimal loading (fluid pressure and blank holder force) profiles were determined for AA 5754-O sheet material through fuzzy control algorithm developed in previous study using LS-DYNA finite element analysis (FEA) software. In the preceding study, the fuzzy control algorithm was developed utilizing geometrical criteria such as thinning and wrinkling. In order to obtain the final desired part with the developed algorithm in terms of the punch diameter requested, the effect of punch diameter, which is the one of the process parameters, on loading profiles was investigated separately using blank thickness of 1 mm. Thus, the practicality of the previously developed fuzzy control algorithm with different punch diameters was clarified. Also, thickness distributions of the sheet metal blank along a curvilinear distance were compared for the FEA in which different punch diameters were used. Consequently, it was found that the use of different punch diameters did not affect the optimal loading profiles too much.

Keywords: Finite Element Analysis (FEA), fuzzy control, hydromechanical deep drawing, optimal loading profiles, punch diameter

Procedia PDF Downloads 430

Authors: István Patkó, Hosam Bayoumi Hamuda, András Szeder

Abstract:

In order to efficiently solve the problems created by the deepening energy crisis affecting Europe and the world, governments cannot neglect the opportunities of using the energy produced by sun collectors. In many of the EU countries there are sun collectors producing heat energy, e.g. in 2011 in the area of EU27 (countries which belong to European Union) + Switzerland altogether 37519126 m2 were operated, which are capable of producing 26.3 GWh heat energy. The energy produced by these sun collectors is utilized at the place of production. In the near future governments will have to focus more on spreading and using sun collectors. Among the complex problems of operating sun collectors, this article deals with determining the optimal tilt angle, directions of sun collectors. We evaluate the contamination of glass surface of sun collector to the produced energy. Our theoretically results are confirmed by laboratory measurements. The purpose of our work is to help users and engineers in determination of optimal operation parameters of sun collectors.

Keywords: heat energy, tilt angle, direction of sun collector, contamination of surface

Procedia PDF Downloads 430

Authors: Edokpa Idemudia Waziri, Salisu S. Umar

Abstract:

The Hotellng’s T^2 is a well-known statistic for detecting a shift in the mean vector of a multivariate normal distribution. Control charts based on T have been widely used in statistical process control for monitoring a multivariate process. Although it is a powerful tool, the T statistic is deficient when the shift to be detected in the mean vector of a multivariate process is small and consistent. The Multivariate Exponentially Weighted Moving Average (MEWMA) control chart is one of the control statistics used to overcome the drawback of the Hotellng’s T statistic. In this paper, the probability distribution of the Average Run Length (ARL) of the MEWMA control chart when the quality characteristics exhibit substantial cross correlation and when the process is in-control and out-of-control was derived using the Markov Chain algorithm. The derivation of the probability functions and the moments of the run length distribution were also obtained and they were consistent with some existing results for the in-control and out-of-control situation. By simulation process, the procedure identified a class of ARL for the MEWMA control when the process is in-control and out-of-control. From our study, it was observed that the MEWMA scheme is quite adequate for detecting a small shift and a good way to improve the quality of goods and services in a multivariate situation. It was also observed that as the in-control average run length ARL0¬ or the number of variables (p) increases, the optimum value of the ARL0pt increases asymptotically and as the magnitude of the shift σ increases, the optimal ARLopt decreases. Finally, we use the example from the literature to illustrate our method and demonstrate its efficiency.

Keywords: average run length, markov chain, multivariate exponentially weighted moving average, optimal smoothing parameter

Procedia PDF Downloads 420

Authors: Xiao-Dong Wang, Wei-Mon Yan

Abstract:

The flow field design in the bipolar plates affects the performance of the proton exchange membrane (PEM) fuel cell. This work adopted a combined optimization procedure, including a simplified conjugate-gradient method and a completely three-dimensional, two-phase, non-isothermal fuel cell model, to look for optimal flow field design for a single serpentine fuel cell of size 9×9 mm with five channels. For the direct solution, the two-fluid method was adopted to incorporate the heat effects using energy equations for entire cells. The model assumes that the system is steady; the inlet reactants are ideal gases; the flow is laminar; and the porous layers such as the diffusion layer, catalyst layer and PEM are isotropic. The model includes continuity, momentum and species equations for gaseous species, liquid water transport equations in the channels, gas diffusion layers, and catalyst layers, water transport equation in the membrane, electron and proton transport equations. The Bulter-Volumer equation was used to describe electrochemical reactions in the catalyst layers. The cell output power density Pcell is maximized subjected to an optimal set of channel heights, H1-H5, and channel widths, W2-W5. The basic case with all channel heights and widths set at 1 mm yields a Pcell=7260 Wm-2. The optimal design displays a tapered characteristic for channels 1, 3 and 4, and a diverging characteristic in height for channels 2 and 5, producing a Pcell=8894 Wm-2, about 22.5% increment. The reduced channel heights of channels 2-4 significantly increase the sub-rib convection and widths for effectively removing liquid water and oxygen transport in gas diffusion layer. The final diverging channel minimizes the leakage of fuel to outlet via sub-rib convection from channel 4 to channel 5. Near-optimal design without huge loss in cell performance but is easily manufactured is tested. The use of a straight, final channel of 0.1 mm height has led to 7.37% power loss, while the design with all channel widths to be 1 mm with optimal channel heights obtained above yields only 1.68% loss of current density. The presence of a final, diverging channel has greater impact on cell performance than the fine adjustment of channel width at the simulation conditions set herein studied.

Keywords: optimization, flow field design, simplified conjugate-gradient method, serpentine flow field, sub-rib convection

Procedia PDF Downloads 295

Authors: Hyun-Woo Jun, In-Gun Kim, Hyun Seok Hong, Dong-Woo Kang, Ju Lee

Abstract:

In high-speed SPMSM design, the rotor-retaining sleeve is inserted into rotor to prevent permanent magnet’s damage. It is quite efficient way considering manufacturability, but the sleeve becomes major source of ohm loss in high-speed operation. In this paper, the high-speed motor for turbo-blower at the rating of 100kW was introduced. To improve its efficiency, the retaining sleeve’s optimal design was needed. Within the range of satisfies the mechanical safety, sleeve’s some design variables have been changed. The effect of changing design variables of the sleeve was studied. This paper presents the optimized sleeve’s advantages in electrical efficiency from the result of electromagnetic FEA (finite element analysis) software. Finally, it suggests the optimal sleeve design to reduce eddy current loss, which is related to motor shape.

Keywords: SPMSM, sleeve, eddy current, high efficiency

Procedia PDF Downloads 423

Authors: K. K. Saijaand, K. Prabhakaran Nair

Abstract:

This study aims to determine change in optimal lo-cations of dual trailing-edge flaps for various thrust coefficient to solidity (Ct /σ) ratios of helicopter to achieve minimum hub vibration levels, with low penalty in terms of required trailing-edge flap control power. Polynomial response functions are used to approximate hub vibration and flap power objective functions. Single objective and multi-objective optimization is carried with the objective of minimizing hub vibration and flap power. The optimization results shows that the inboard flap location at low Ct/σ ratio move farther from the baseline value and at high Ct/σ ratio move towards the root of the blade for minimizing hub vibration.

Keywords: helicopter rotor, trailing-edge flap, thrust coefficient to solidity (Ct /σ) ratio, optimization

Procedia PDF Downloads 474

Authors: Bita Payami-Shabestari, Dariush Eslami

Abstract:

The purpose of this paper is to develop a multi-product economic production quantity model under vendor management inventory policy and restrictions including limited warehouse space, budget, and number of orders, average shortage time and maximum permissible shortage. Since the “costs” cannot be predicted with certainty, it is assumed that data behave under uncertain environment. The problem is first formulated into the framework of a bi-objective of multi-product economic production quantity model. Then, the problem is solved with three multi-objective decision-making (MODM) methods. Then following this, three methods had been compared on information on the optimal value of the two objective functions and the central processing unit (CPU) time with the statistical analysis method and the multi-attribute decision-making (MADM). The results are compared with statistical analysis method and the MADM. The results of the study demonstrate that augmented-constraint in terms of optimal value of the two objective functions and the CPU time perform better than global criteria, and goal programming. Sensitivity analysis is done to illustrate the effect of parameter variations on the optimal solution. The contribution of this research is the use of random costs data in developing a multi-product economic production quantity model under vendor management inventory policy with several constraints.

Keywords: economic production quantity, random cost, supply chain management, vendor-managed inventory

Procedia PDF Downloads 127

Authors: Raif Parlakkaya, Ahmet Diken, Erkan Kara

Abstract:

This paper examines the relationship between corporate governance rating and stock prices of 26 Turkish firms listed in Turkish stock exchange (Borsa Istanbul) by using panel data analysis over five-year period. The paper also investigates the stock performance of firms with governance rating with regards to the market portfolio (i.e. BIST 100 Index) both prior and after governance scoring began. The empirical results show that there is no relation between corporate governance rating and stock prices when using panel data for annual variation in both rating score and stock prices. Further analysis indicates surprising results that while the selected firms outperform the market significantly prior to rating, the same performance does not continue afterwards.

Keywords: corporate governance, stock price, performance, panel data analysis

Procedia PDF Downloads 390

Authors: Pin-Wei Chiang, Wen-Liang Chang, Ruey-Huei Yeh

Abstract:

This paper investigates optimal replacement and preventative maintenance policies of secondhand products under a Finite Planning Horizon (FPH). Any consumer wishing to replace their product under FPH would have it undergo minimal repairs. The replacement provided would be required to undergo periodical preventive maintenance done to avoid product failure. Then, a mathematical formula for disbursement cost for products under FPH can be derived. Optimal policies are then obtained to minimize cost. In the first of two segments of the paper, a model for initial product purchase of either new or secondhand products is used. This model is built by analyzing product purchasing price, surplus value of product, as well as the minimal repair cost. The second segment uses a model for replacement products, which are also secondhand products with no limit on usage. This model analyzes the same components as the first as well as expected preventative maintenance cost. Using these two models, a formula for the expected final total cost can be developed. The formula requires four variables (optimal preventive maintenance level, preventive maintenance frequency, replacement timing, age of replacement product) to find minimal cost requirement. Based on analysis of the variables using the expected total final cost model, it was found that the purchasing price and length of ownership were directly related. Also, consumers should choose the secondhand product with the higher usage for replacement. Products with higher initial usage upon acquisition require an earlier replacement schedule. In this case, replacements should be made with a secondhand product with less usage. In addition, preventative maintenance also significantly reduces cost. Consumers that plan to use products for longer periods of time replace their products later. Hence these consumers should choose the secondhand product with lesser initial usage for replacement. Preventative maintenance also creates significant total cost savings in this case. This study provides consumers with a method of calculating both the ideal amount of usage of the products they should purchase as well as the frequency and level of preventative maintenance that should be conducted in order to minimize cost and maintain product function.

Keywords: finite planning horizon, second hand product, replacement, preventive maintenance, minimal repair

Procedia PDF Downloads 472

Authors: Meet Patel, Darshan Patel, Nilay Shah

Abstract:

Excess growth of wind-based renewable energy sources is required to identify the optimal location and damping capacity of doubly fed induction-generator-based (DFIG) wind farms while it penetrates into the transmission network. In this analysis, various ratings of DFIG wind farms are penetrated into the Single Machine Infinite Bus (SMIB ) at a different distance of the transmission line. On the basis of detailed examinations, a prime position is evaluated to maximize the stability of overall systems. A damping controller is designed at an optimum location to mitigate the small oscillations. The proposed model was validated using eigenvalue analysis, calculation of the participation factor, and time-domain simulation.

Keywords: DFIG, small signal stability, eigenvalues, time domain simulation

Procedia PDF Downloads 111

Authors: Hyeonkyeong Yang, Minseok Son, Taekbeom Yoo, Woojin Park

Abstract:

Human error is the most salient contributing factor to railway accidents. To reduce the frequency of human errors, many researchers and train designers have adopted ergonomic design principles for designing display-control layout in rail cab. There exist a number of approaches for designing the display control layout based on optimization methods. However, the ergonomically optimized layout design may not be the best design for train drivers, since the drivers have their own mental models based on their experiences. Consequently, the drivers may prefer the existing display-control layout design over the optimal design, and even show better driving performance using the existing design compared to that using the optimal design. Thus, in addition to ergonomic design principles, train drivers’ mental models also need to be considered for designing display-control layout in rail cab. This paper developed an ergonomic assessment system of display-control layout design, and an interactive layout design system that can generate design alternatives and calculate ergonomic assessment score in real-time. The design alternatives generated from the interactive layout design system may not include the optimal design from the ergonomics point of view. However, the system’s strength is that it considers train drivers’ mental models, which can help generate alternatives that are more friendly and easier to use for train drivers. Also, with the developed system, non-experts in ergonomics, such as train drivers, can refine the design alternatives and improve ergonomic assessment score in real-time.

Keywords: display-control layout design, interactive layout design system, mental model, train drivers

Procedia PDF Downloads 305

Authors: Theresa K., Shanmugasundaram R., Kennedy J. S.

Abstract:

Nutrient supplements are indispensable for raising crops and to reap determining productivity. The nutrient imbalance between replenishment and crop uptake is attempted through the input of inorganic fertilizers. Excessive dumping of inorganic nutrients in soil cause stagnant and decline in yield. Imbalanced N-P-K ratio in the soil exacerbates and agitates the soil ecosystems. The study evaluated the fertilization practices of conventional (CFs), organic and Integrated Nutrient Management system (INM) on soil quality using key indicators and soil quality indices. Twelve rice farming fields of which, ten fields were having conventional cultivation practices, one field each was organic farming based and INM based cultivated under monocropping sequence in the Thondamuthur block of Coimbatore district were fixed and properties viz., physical, chemical and biological were studied for four cropping seasons to determine soil quality index (SQI). SQI was computed for conventional, organic and INM fields. Comparing conventional farming (CF) with organic and INM, CF was recorded with a lower soil quality index. While in organic and INM fields, the higher SQI value of 0.99 and 0.88 respectively were registered. CF₄ received with a super-optimal dose of N (250%) showed a lesser SQI value (0.573) as well as the yield (3.20 t ha⁻¹) and the CF6 which received 125 % N recorded the highest SQI (0.715) and yield (6.20 t ha⁻¹). Likewise, most of the CFs received higher N beyond the level of 125 % except CF₃ and CF₉, which recorded lower yields. CFs which received super-optimal P in the order of CF₆&CF₇>CF₁&CF₁₀ recorded lesser yields except for CF₆. Super-optimal K application also recorded lesser yield in CF₄, CF₇ and CF₉.

Keywords: rice cropping system, soil quality indicators, imbalanced fertilization, yield

Procedia PDF Downloads 156

Authors: Rahmoune Abdelhaq

Abstract:

Systemic risk is a key concern for central banks charged with safeguarding overall financial stability. In this work, we investigate how systemic risk is affected by the structure of the financial system. We construct banking systems that are composed of a number of banks that are connected by interbank linkages. We then vary the key parameters that define the structure of the financial system — including its level of capitalization, the degree to which banks are connected, the size of interbank exposures and the degree of concentration of the system — and analyses the influence of these parameters on the likelihood of contagious (knock-on) defaults. First, we find that the better-capitalized banks are, the more resilient is the banking system against contagious defaults and this effect is non-linear. Second, the effect of the degree of connectivity is non-monotonic, that is, initially a small increase in connectivity increases the contagion effect; but after a certain threshold value, connectivity improves the ability of a banking system to absorb shocks. Third, the size of interbank liabilities tends to increase the risk of knock-on default, even if banks hold capital against such exposures. Fourth, more concentrated banking systems are shown to be prone to larger systemic risk, all else equal. In an extension to the main analysis, we study how liquidity effects interact with banking structure to produce a greater chance of systemic breakdown. We finally consider how the risk of contagion might depend on the degree of asymmetry (tier) inherent in the structure of the banking system. A number of our results have important implications for public policy, which this paper also draws out. This paper also discusses why bank risk management is needed to get the optimal one.

Keywords: financial stability, contagion, liquidity risk, optimal risk

Procedia PDF Downloads 400