Search results for: pharmaceutical companies
2264 Servitization in Machine and Plant Engineering: Leveraging Generative AI for Effective Product Portfolio Management Amidst Disruptive Innovations
Authors: Till Gramberg
Abstract:
In the dynamic world of machine and plant engineering, stagnation in the growth of new product sales compels companies to reconsider their business models. The increasing shift toward service orientation, known as "servitization," along with challenges posed by digitalization and sustainability, necessitates an adaptation of product portfolio management (PPM). Against this backdrop, this study investigates the current challenges and requirements of PPM in this industrial context and develops a framework for the application of generative artificial intelligence (AI) to enhance agility and efficiency in PPM processes. The research approach of this study is based on a mixed-method design. Initially, qualitative interviews with industry experts were conducted to gain a deep understanding of the specific challenges and requirements in PPM. These interviews were analyzed using the Gioia method, painting a detailed picture of the existing issues and needs within the sector. This was complemented by a quantitative online survey. The combination of qualitative and quantitative research enabled a comprehensive understanding of the current challenges in the practical application of machine and plant engineering PPM. Based on these insights, a specific framework for the application of generative AI in PPM was developed. This framework aims to assist companies in implementing faster and more agile processes, systematically integrating dynamic requirements from trends such as digitalization and sustainability into their PPM process. Utilizing generative AI technologies, companies can more quickly identify and respond to trends and market changes, allowing for a more efficient and targeted adaptation of the product portfolio. The study emphasizes the importance of an agile and reactive approach to PPM in a rapidly changing environment. It demonstrates how generative AI can serve as a powerful tool to manage the complexity of a diversified and continually evolving product portfolio. The developed framework offers practical guidelines and strategies for companies to improve their PPM processes by leveraging the latest technological advancements while maintaining ecological and social responsibility. This paper significantly contributes to deepening the understanding of the application of generative AI in PPM and provides a framework for companies to manage their product portfolios more effectively and adapt to changing market conditions. The findings underscore the relevance of continuous adaptation and innovation in PPM strategies and demonstrate the potential of generative AI for proactive and future-oriented business management.Keywords: servitization, product portfolio management, generative AI, disruptive innovation, machine and plant engineering
Procedia PDF Downloads 672263 Findings: Impact of a Sustained Health Promoting Workplace on Stock Price Performance and Beta; A Singapore Case
Authors: Wee Tong Liaw, Elaine Wong Yee Sing
Abstract:
The main objective and focus of this study are to establish the significance of a sustained health promoting workplace on stock and portfolio returns focusing on companies listed on the Singapore stock exchange, using a two-factor model comprising of the single factor CAPM and a 'health promoting workplace' factor. The 'health promoting workplace' factor represents the excess returns derived between two portfolios of component stocks that, when combined, would represent a top tier stock market index in Singapore, namely the STI index. The first portfolio represents companies that are independently assessed by the Singapore’s Health Award, SHA, to have a sustained and comprehensive health promoting workplace (SHA-STI portfolio) and the second portfolio represents companies that had not been independently assessed (Non-SHA STI portfolio). Since 2001, many companies in Singapore have voluntarily participated in the bi-annual Singapore HEALTH Award initiated by the Health Promotion Board of Singapore (HPB). The Singapore HEALTH Award (SHA), is an industry-wide award and assessment process. SHA assesses and recognizes employers in Singapore for implementing a comprehensive and sustainable health promotion programme at their workplaces. When using a ten year holding period instead of a one year holding period, excess returns in the SHA-STI portfolio over Non-SHA STI portfolio were consistently being observed over all test periods, during 2001 to 2013. In addition, when applied to the SHA-STI portfolio, results from the Two Factor Model consistently revealed higher explanatory powers across all test periods for the portfolio as well as all the individual component stocks in SHA-STI portfolio, than the single factor CAPM model. However, with respect to attaining higher level of achievement in the Singapore Health Award, this study did not show any incentive for selecting listed companies that have achieved a higher level of award. Results from this study would give further insights to investors and fund managers alike who intend to consider health promoting workplace as a risk factor in their stock or portfolio selection process, in particular for investors who have a preference for STI’s component stocks and with a longer investment horizon. Key micro factors like management abilities, business development strategies and production capabilities that meet the needs of market would create the demand for a company’s product(s) or service(s) and consequently contribute to its top line and profitability. Thereafter, the existence of a sustainable health promoting workplace would be a key catalytic factor in sustaining a productive workforce needed to support the continued success of a profitable business.Keywords: asset pricing model, company's performance, stock returns, financial risk factor, sustained health promoting workplace
Procedia PDF Downloads 1632262 Establish a Company in Turkey for Foreigners
Authors: Mucahit Unal, Ibrahim Arslan
Abstract:
The New Turkish Commercial Code (TCC) No. 6102 was published in the Official Gazette on February 14, 2011. As stated in the New Turkish Commercial Code No. 6102 and Law No. 6103 on Validity and Application of the Turkish Commercial Code, TCC came into effect on July 1, 2012. The basic purpose of the TCC is to form corporate governance coherent with the international standards; to provide transparency in company management; to adjust the Turkish Commercial Code rules with European Union legislations and to simplify establishing a company for foreigner investors to move investments to Turkish market. In this context according to TCC, joint stock companies and limited liability companies can establish with only one single shareholder; the one single shareholder can be foreigner; all board of director members can be foreigner, also all shareholders and board of director members can be non-resident foreigners. Additionally, TCC does not require physical participation to the general shareholders and board members meetings. TCC allows that the general shareholders and board members meetings can hold in an electronic form and resolution of these meetings may also be approved via electronic signatures. Through this amendment, foreign investors no longer have to deal with red tapes. This amendment also means the TCC prevents foreign companies from incurring unnecessary travel expenses. In accordance with all this amendments about TCC, to invest in Turkish market is easy, simple and transparent for foreigner investors and also investors can establish a company in Turkey, irrespective of nationality or place of residence. This article aims to analyze ‘Establish a Company in Turkey for Foreigners’ and inform investors about investing (especially establishing a company) in the Turkish market.Keywords: establish a company, foreigner investors, invest in Turkish market, Turkish commercial code
Procedia PDF Downloads 2552261 The Role of Information Technology in the Supply Chain Management
Authors: Azar Alizadeh, Mohammad Reza Naserkhaki
Abstract:
The application of the IT systems for collecting and analyzing the data can have a significant effect on the performance of any company. In recent decade, different advancements and achievements in the field of information technology have changed the industry compared to the previous decade. The adoption and application of the information technology are one of the ways to achieve a distinctive competitive personality to the companies and their supply chain. The acceptance of the IT and its proper implementation cam reinforce and improve the cooperation between different parts of the supply chain by rapid transfer and distribution of the precise information and the application of the informational systems, leading to the increase in the supply chain efficiency. The main objective of this research is to study the effects and applications of the information technology on and in the supply chain management and to introduce the effective factors on the acceptance of information technology in the companies. Moreover, in order to understand the subject, we will investigate the role and importance of the information and electronic commerce in the supply chain and the characteristics of the supply chain based on the information flow approach.Keywords: electronic commerce, industry, information technology, management, supply chain, system
Procedia PDF Downloads 4782260 Approach to Establish Logistics as a Central Scientific Discipline of Tomorrow's Industry
Authors: Johannes Dregger, Michael Schmidt, Christian Prasse, Michael ten Hompel
Abstract:
Most of the today’s companies face increasing need to operate efficiently. Driven by global trends like shorter product cycles, mass customization and the rising speed of delivery, manufacturing value chains are becoming more and more distributed. Manufacturing processes are becoming highly integrated, e.g. 3D printing. All these changes are affecting companies´ organization. They are leading towards individual, small scale, and ad-hoc logistics processes and structures, and finally, towards a significant increase in the importance of logistics itself since traditional value chains transform into agile value networks. In the past logistics has been following manufacturing but in the future industry, this role allocation might change. With this increase in the logistics practice of companies and businesses, the relevance of logistics research as the methodological foundation of logistics networks and processes is gaining importance. Logistics research is evolving into a central and highly interdisciplinary science for the future industry. Using the example of Germany, this paper discusses ways to establish logistics as a central scientific discipline of the future industry. About three million people work in the logistics sector in Germany. Only automotive and retail industry have more employees. Even though there is a bunch of logistics degree programs at more than 100 institutions of higher education, a common understanding of logistics as a research discipline is missing. In this paper an innovative approach will be presented, including; identified perspectives on logistics, such as process orientation, IT orientation or employees orientation, relevant scientific disciplines for logistics science, a concept for interdisciplinary research approaches to unify the perspectives of the different scientific disciplines on logistics and the methodological base of logistics science.Keywords: logistics, logistics science, logistics management, future challenges
Procedia PDF Downloads 3082259 Solubility and Dissolution Enhancement of Poorly Soluble Drugs Using Biosericin
Authors: Namdeo Jadhav, Nitin Salunkhe
Abstract:
Currently, sericin is being treated as waste of sericulture industry, especially at reeling process. Looking at prospective physicochemical properties, an attempt has been made to explore pharmaceutical applications of sericin waste in fabrication of medicated solid dispersions. Solid dispersions (SDs) of poorly soluble drugs (Lornoxicam, Meloxicam & Felodipine) were prepared by spray drying, solvent evaporation, ball milling and physical kneading in mass ratio of drug: sericin (1:0.5, 1:1, 1:1.5, 1:2, 1:2.5 and 1:3 w/w) and were investigated by solubility, ATR-FTIR, XRD and DSC, micromeritics and tablettability, surface morphology and in-vitro dissolution. It has been observed that sericin improves solubility of drugs by 8 to 10 times compared to pure drugs. The presence of hydrogen bonding between drugs and sericin was confirmed from the ATR-FTIR spectra. Amongst these methods, spray dried (1:2 w/w) SDs showed fully amorphous state representing molecularly distributed drug as confirmed from XRD and DSC study. Spray dried meloxicam SDs showed better compressibility and compactibility. The microphotograph of spray dried batches of lornoxicam (SDLX) and meloxicam SDs (SDMX) showed bowl shaped, and bowl plus spherical particles respectively, while spray dried felodipine SDs (SDFL) showed spherical shape. The SDLX, SDMX and SDFL (1:2 w/w) displayed better dissolution performance than other methods. Conclusively, hydrophilic matrix of sericin can be used to deliver poor water soluble drugs and its aerodynamic shape may show a great potential for various drug deliveries. If established as pharmaceutical excipient, sericin holds a potential to revolutionise economics of pharmaceutical industry, and sericulture farming, especially of Asian countries.Keywords: biosericin, poorly soluble drugs, solid dispersion, solubility and dissolution improvement
Procedia PDF Downloads 2492258 Role of Biotechnology on Pharmaceutical Inventions: An Analysis
Authors: E. Prema
Abstract:
Biotechnology is a study relating to the practical application of living beings in different fields. Generally, it is a study with regard to living organisms in the industrial utilization. It is the technology, which uses living organisms or its parts for specific commercial use. Modification and application of living beings for different practical purposes is possible through biotechnology. Furthermore, today biotechnology is being used in different fields for better results. It is worthwhile to note here that biotechnology is one of the most innovative and intensive industries. It has used the genetically based characteristics in microorganisms, plants and animals to create drugs and to develop drug therapies, which may prevent, cure or alleviate disease and their symptoms. Drugs are basically chemicals and while patenting drugs, the conditions of patentability of chemicals and the types that can be patented are equally applicable to drugs also. Nowadays, the role of biotechnology for manufacturing drugs has assumed much importance because of intellectual property rights. By way using biotechnology, most of the pharmaceutical inventions are getting protection for the period of 20 years as per the Patents Act, 1970 as amended in 2005. There is no doubt that biotechnology is serving the public at large with regard manufacturing drugs and helping the needy people on time.Keywords: biotechnology, drugs, intellectual property rights, patents
Procedia PDF Downloads 4502257 Mechanistic Modelling to De-risk Process Scale-up
Authors: Edwin Cartledge, Jack Clark, Mazaher Molaei-Chalchooghi
Abstract:
The mixing in the crystallization step of active pharmaceutical ingredient manufacturers was studied via advanced modeling tools to enable a successful scale-up. A virtual representation of the vessel was created, and computational fluid dynamics were used to simulate multiphase flow and, thus, the mixing environment within this vessel. The study identified a significant dead zone in the vessel underneath the impeller and found that increasing the impeller speed and power did not improve the mixing. A series of sensitivity analyses found that to improve mixing, the vessel had to be redesigned, and found that optimal mixing could be obtained by adding two extra cylindrical baffles. The same two baffles from the simulated environment were then constructed and added to the process vessel. By identifying these potential issues before starting the manufacture and modifying the vessel to ensure good mixing, this study mitigated a failed crystallization and potential batch disposal, which could have resulted in a significant loss of high-value material.Keywords: active pharmaceutical ingredient, baffles, computational fluid dynamics, mixing, modelling
Procedia PDF Downloads 912256 The Influence of Website Quality on Customer E-Satisfaction in Low Cost Airline
Authors: Zainab Khalifah, Wong Chiet Bing, Noor Hazarina Hashim
Abstract:
The evolution of customer behavior in purchasing products or services through the Internet leads to airline companies engaging in the e-ticketing process in order to maintain their business. A well-designed website is vitally significant for the airline companies to provide effective communication, support, and competitive advantage. This study was conducted to identify the dimensions of website quality for low cost airline and to investigate the relationship between the website quality and customer e-satisfaction at low cost airline. A total of 381 responses were conveniently collected among local passengers at Low Cost Carrier Terminal, Kuala Lumpur via questionnaire distribution. This study found that the five determinant factors of website quality for AirAsia were Information Content, Navigation, Responsiveness, Personalization, and Security and Privacy. The results of this study revealed that there is a positive relationship between the five dimensions of website quality and customer e-satisfaction, and also information content was the most significant contributor to customer e-satisfaction.Keywords: website quality, customer e-satisfaction, low cost airline, e-ticketing
Procedia PDF Downloads 4142255 Modelling Patient Condition-Based Demand for Managing Hospital Inventory
Authors: Esha Saha, Pradip Kumar Ray
Abstract:
A hospital inventory comprises of a large number and great variety of items for the proper treatment and care of patients, such as pharmaceuticals, medical equipment, surgical items, etc. Improper management of these items, i.e. stockouts, may lead to delay in treatment or other fatal consequences, even death of the patient. So, generally the hospitals tend to overstock items to avoid the risk of stockout which leads to unnecessary investment of money, difficulty in storing, more expiration and wastage, etc. Thus, in such challenging environment, it is necessary for hospitals to follow an inventory policy considering the stochasticity of demand in a hospital. Statistical analysis captures the correlation of patient condition based on bed occupancy with the patient demand which changes stochastically. Due to the dependency on bed occupancy, the markov model is developed that helps to map the changes in demand of hospital inventory based on the changes in the patient condition represented by the movements of bed occupancy states (acute care state, rehabilitative state and long-care state) during the length-of-stay of patient in a hospital. An inventory policy is developed for a hospital based on the fulfillment of patient demand with the objective of minimizing the frequency and quantity of placement of orders of inventoried items. The analytical structure of the model based on probability calculation is provided to show the optimal inventory-related decisions. A case-study is illustrated in this paper for the development of hospital inventory model based on patient demand for multiple inpatient pharmaceutical items. A sensitivity analysis is conducted to investigate the impact of inventory-related parameters on the developed optimal inventory policy. Therefore, the developed model and solution approach may help the hospital managers and pharmacists in managing the hospital inventory in case of stochastic demand of inpatient pharmaceutical items.Keywords: bed occupancy, hospital inventory, markov model, patient condition, pharmaceutical items
Procedia PDF Downloads 3182254 Customer Data Analysis Model Using Business Intelligence Tools in Telecommunication Companies
Authors: Monica Lia
Abstract:
This article presents a customer data analysis model using business intelligence tools for data modelling, transforming, data visualization and dynamic reports building. Economic organizational customer’s analysis is made based on the information from the transactional systems of the organization. The paper presents how to develop the data model starting for the data that companies have inside their own operational systems. The owned data can be transformed into useful information about customers using business intelligence tool. For a mature market, knowing the information inside the data and making forecast for strategic decision become more important. Business Intelligence tools are used in business organization as support for decision-making.Keywords: customer analysis, business intelligence, data warehouse, data mining, decisions, self-service reports, interactive visual analysis, and dynamic dashboards, use cases diagram, process modelling, logical data model, data mart, ETL, star schema, OLAP, data universes
Procedia PDF Downloads 4232253 Factors of Influence in Software Process Improvement: An ISO/IEC 29110 for Very-Small Entities
Authors: N. Wongsai, R. Wetprasit, V. Siddoo
Abstract:
The recently introduced ISO/IEC 29110 standard Lifecycle profile for Very Small Entities (VSE) has been adopted and practiced in many small and medium software companies, including in Thailand’s software industry. Many Thai companies complete their software process improvement (SPI) initiative program and have been certified. There are, however, a number of participants fail to success. This study was concerned with the factors that influence the accomplishment of the standard implementation in various VSE characteristics. In order to achieve this goal, exploring and extracting critical factors from prior studies were carried out and then the obtained factors were validated by the standard experts. Data analysis of comments and recommendations was performed using a qualitative content analysis method. This paper presents the initial set of influence factors in both positive and negative impact the ISO/IEC 29110 implementation with an aim at helping such SPI practitioners with some considerations to manage appropriate adoption approach in order to achieve its implementation.Keywords: barriers, critical success factors, ISO/IEC 29110, Software Process Improvement, SPI, Very-Small Entity, VSE
Procedia PDF Downloads 3102252 Factors That Stimulate Employee Development in Polish Small Enterprises
Authors: Ewa Rak
Abstract:
This paper is part of a broader research project on employee development in small enterprises, financed by Polish National Science Centre. The project results will serve as basis for a doctoral dissertation. The paper utilises literature studies and qualitative research conducted in small enterprises operating in the Lower Silesia region of Poland. This paper aims to identify some of the factors that stimulate employee development in small companies operating in Poland. The great variety of business pursuits and applications represented by this sector makes it hard to determine a universal configuration of factors to offer best possible conditions for employee development. Research results suggest that each of the examined companies had one or two of such factors in focus, and serving as the basis for the entire pro-development system. These include: employment security (both for employee and entrepreneur) and extensive knowledge and experience of entrepreneurs, but only if it is combined with a willingness and ability to share it.Keywords: employee development, factors that stimulate employee development, human resources development, Poland, small enterprises, training
Procedia PDF Downloads 2632251 The Effect of Artificial Intelligence on Construction Development
Authors: Shady Gamal Aziz Shehata
Abstract:
Difficulty in defining construction quality arises due to perception based on the nature and requirements of the market, the different partners themselves and the results they want. Quantitative research was used in this constructivist research. A case-based study was conducted to assess the structures of positive attitudes and expectations in the context of quality improvement. A survey based on expert opinions was analyzed among construction organizations/companies operating in the construction industry in Pakistan. The financial strength, management structure and construction experience of the construction companies formed the basis of their selection. A good concept is visible at the project level and is seen as the most valuable part of the construction project. Each quality improvement technique was expected to increase the user's profits by improving the efficiency of the construction project. The Survey is useful for construction professionals to evaluate current construction concepts and expectations for the application of quality improvement techniques in construction projects.Keywords: correlation analysis, lean construction tools, lean construction, logistic regression analysis, risk management, safety construction quality, expectation, improvement, perception
Procedia PDF Downloads 472250 Spectroscopy Study of Jatropha curcas Seed Oil for Pharmaceutical Applications
Authors: Bashar Mudhaffar Abdullah, Hasniza Zaman Huri, Nany Hairunisa
Abstract:
This study was carried out to determine the thermal properties and spectroscopy study of Malaysian Jatropha curcas seed oil. The J. curcas seed oil physicochemical properties such as free fatty acid (FFA %), acid value, saponification value, iodine value, unsaponifiable matter, and viscosity (cp) gave values of 1.89±0.10%, 3.76±0.07, 203.36±0.36 mg/g, 4.90±0.25, 1.76±0.03%, and 32, respectively. Gas chromatography (GC) was used to determine the fatty acids (FAs) composition. J. curcas seed oil is consisting of saturated FAs (19.55%) such as palmitic (13.19%), palmitoleic (0.40%), and stearic (6.36%) acids and unsaturated FAs (80.42%) such as oleic (43.32%) and linoleic (36.70%) acids. The thermal properties using differential scanning calorimetry (DSC) showed that crystallized TAG was observed at -6.79°C. The melting curves displayed three major exothermic regions of J. curcas seed oil, monounsaturated (lower-temperature peak) at -31.69°C, di-unsaturated (medium temperature peak) at -20.23°C and tri-unsaturated (higher temperature peak) at -12.72°C. The results of this study showed that the J. curcas seed oil is a plausible source of polyunsaturated fatty acid (PUFA) to be developed in the future for pharmaceutical applications.Keywords: Jatropha curcas seed oil, thermal properties, crystallization, melting, spectroscopy
Procedia PDF Downloads 4682249 Quality as an Approach to Organizational Change and Its Role in the Reorganization of Enterprises: Case of Four Moroccan Small and Medium-Sized Enterprises
Authors: A. Boudiaf
Abstract:
The purpose of this paper is to analyze and apprehend, through four case studies, the interest of the project of the implementation of the quality management system (QMS) at four Moroccan small and medium-sized enterprises (SMEs). This project could generate significant organizational change to improve the functioning of the organization. In fact, quality is becoming a necessity in the current business world. It is considered to be a major component in companies’ competitive strategies. It should be noted that quality management is characterized by a set of methods and techniques that can be used to solve malfunctions and reorganize companies. It is useful to point out that the choice of the adoption of the quality approach could be influenced by the circumstances of the business context, it could also be derived from its strategic vision; this means that this choice can be characterized as either a strategic aspect or a reactive aspect. This would probably have a major impact on the functioning of the QMS and also on the perception of the quality issue by company managers and their employees.Keywords: business context, organizational change, quality, reorganization
Procedia PDF Downloads 1032248 Good Marketing is an Important Factor for the Success of the Institution
Authors: Maamar Moumena
Abstract:
the Follower of the movement of international competition finds that the success of Japanese companies to break into global markets and win a competitive edge and meet the challenges of this competition, due primarily to the adoption of these companies to the modern concept of marketing, and possession of sophisticated marketing systems, with a focus on pricing policy. The institution's ability to produce goods and services be limited unless accompanied by an effective marketing effort. So the satisfaction of the consumer needs efficiently and effectiveness are unwarranted economic and social presence in the market, and ensure the continuity and achieve their goals, and this can only be achieved through marketing activity, where he activity facet which translates the output of the institution and its presence in the form of financial compensation, and that the inclusion of and marketing function within the functions of the institution and awarded each of gravity reflects the extent of their importance in the conduct of the future of the institution, and depending on excellence in performance and a good application of the basic concepts of marketing and primarily make the consumer focus of attention, so the pleasing of the consumer and earn his allegiance reflects the success of an organization.Keywords: competition, marketing, institution, consumer
Procedia PDF Downloads 2782247 Potentiometric Determination of Moxifloxacin in Some Pharmaceutical Formulation Using PVC Membrane Sensors
Authors: M. M. Hefnawy, A. M. A. Homoda, M. A. Abounassif, A. M. Alanazia, A. Al-Majed, Gamal A. E. Mostafa
Abstract:
PVC membrane sensors using different approach e.g. ion-pair, ionophore, and Schiff-base has been used as testing membrane sensor. Analytical applications of membrane sensors for direct measurement of variety of different ions in complex biological and environmental sample are reported. The most important step of such PVC membrane sensor is the sensing active material. The potentiometric sensors have some outstanding advantages including simple design, operation, wide linear dynamic range, relative fast response time, and rotational selectivity. The analytical applications of these techniques to pharmaceutical compounds in dosage forms are also discussed. The construction and electrochemical response characteristics of Poly (vinyl chloride) membrane sensors for moxifloxacin HCl (MOX) are described. The sensing membranes incorporate ion association complexes of moxifloxacin cation and sodium tetraphenyl borate (NaTPB) (sensor 1), phosphomolybdic acid (PMA) (sensor 2) or phosphotungstic acid (PTA) (sensor 3) as electroactive materials. The sensors display a fast, stable and near-Nernstian response over a relative wide moxifloxacin concentration range (1 ×10-2-4.0×10-6, 1 × 10-2-5.0×10-6, 1 × 10-2-5.0×10-6 M), with detection limits of 3×10-6, 4×10-6 and 4.0×10-6 M for sensor 1, 2 and 3, respectively over a pH range of 6.0-9.0. The sensors show good discrimination of moxifloxacin from several inorganic and organic compounds. The direct determination of 400 µg/ml of moxifloxacin show an average recovery of 98.5, 99.1 and 98.6 % and a mean relative standard deviation of 1.8, 1.6 and 1.8% for sensors 1, 2, and 3 respectively. The proposed sensors have been applied for direct determination of moxifloxacin in some pharmaceutical preparations. The results obtained by determination of moxifloxacin in tablets using the proposed sensors are comparable favorably with those obtained using the US Pharmacopeia method. The sensors have been used as indicator electrodes for potentiometric titration of moxifloxacin.Keywords: potentiometry, PVC, membrane sensors, ion-pair, ionophore, schiff-base, moxifloxacin HCl, sodium tetraphenyl borate, phosphomolybdic acid, phosphotungstic acid
Procedia PDF Downloads 4332246 Integration of Quality Function Deployment and Modular Function Deployment in Product Development
Authors: Naga Velamakuri, Jyothi K. Reddy
Abstract:
Quality must be designed into a product and not inspected has become the main motto of all the companies globally. Due to the rapidly increasing technology in the past few decades, the nature of demands from the consumers has become more sophisticated. To sustain this global revolution of innovation in production systems, companies have to take steps to accommodate this technology growth. In this process of understanding the customers' expectations, all the firms globally take steps to deliver a perfect output. Most of these techniques also concentrate on the consistent development and optimization of the product to exceed the expectations. Quality Function Deployment(QFD) and Modular Function Deployment(MFD) are such techniques which rely on the voice of the customer and help deliver the needs. In this paper, Quality Function Deployment and Modular Function Deployment techniques which help in converting the quantitative descriptions to qualitative outcomes are discussed. The area of interest would be to understand the scope of each of the techniques and the application range in product development when these are applied together to any problem. The research question would be mainly aimed at comprehending the limitations using modularity in product development.Keywords: quality function deployment, modular function deployment, house of quality, methodology
Procedia PDF Downloads 3192245 Corporate Performance and Balance Sheet Indicators: Evidence from Indian Manufacturing Companies
Authors: Hussain Bohra, Pradyuman Sharma
Abstract:
This study highlights the significance of Balance Sheet Indicators on the corporate performance in the case of Indian manufacturing companies. Balance sheet indicators show the actual financial health of the company and it helps to the external investors to choose the right company for their investment and it also help to external financing agency to give easy finance to the manufacturing companies. The period of study is 2000 to 2014 for 813 manufacturing companies for which the continuous data is available throughout the study period. The data is collected from PROWESS data base maintained by Centre for Monitoring Indian Economy Pvt. Ltd. Panel data methods like fixed effect and random effect methods are used for the analysis. The Likelihood Ratio test, Lagrange Multiplier test and Hausman test results proof the suitability of the fixed effect model for the estimation. Return on assets (ROA) is used as the proxy to measure corporate performance. ROA is the best proxy to measure corporate performance as it already used by the most of the authors who worked on the corporate performance. ROA shows return on long term investment projects of firms. Different ratios like Current Ratio, Debt-equity ratio, Receivable turnover ratio, solvency ratio have been used as the proxies for the Balance Sheet Indicators. Other firm specific variable like firm size, and sales as the control variables in the model. From the empirical analysis, it was found that all selected financial ratios have significant and positive impact on the corporate performance. Firm sales and firm size also found significant and positive impact on the corporate performance. To check the robustness of results, the sample was divided on the basis of different ratio like firm having high debt equity ratio and low debt equity ratio, firms having high current ratio and low current ratio, firms having high receivable turnover and low receivable ratio and solvency ratio in the form of firms having high solving ratio and low solvency ratio. We find that the results are robust to all types of companies having different form of selected balance sheet indicators ratio. The results for other variables are also in the same line as for the whole sample. These findings confirm that Balance sheet indicators play as significant role on the corporate performance in India. The findings of this study have the implications for the corporate managers to focus different ratio to maintain the minimum expected level of performance. Apart from that, they should also maintain adequate sales and total assets to improve corporate performance.Keywords: balance sheet, corporate performance, current ratio, panel data method
Procedia PDF Downloads 2582244 Assessment of the Two-Way Relationship between Capital Structure and Operation Performance of Listed Companies on Vietnam’s Stock
Authors: Uyen Tran Tu
Abstract:
The decision on capital structure is one of the most important and sophisticated decisions in financial management in order to improve firm performance. This article would study the two-way impact between capital structure and firm performance. The study use EVIEWS 6.0 software to determine a two-way relationship between the capital structure and firm performance based on two-stage regression (2SLS - Two-Stage Least Squares). The findings are: capital structure has the opposite effect on the business efficiency and vice versa, factors that effect on business efficiency include Size and Opportunities. Factors effects on the capital structure are size; liquidity. These factors also affect the ratio of capital structure (total debt/ total asset) of companies. In particular, liquidity has the opposite effect; and the size of the business has the same impact. The results of the study are in line with the theory and empirical studies presented, and the results of the study are unchanged for all three years 2015-2017.Keywords: capital structure, firm performance, factors, two-way relationship
Procedia PDF Downloads 1502243 Simple Ecofriendly Cyclodextrine-Surfactant Modified UHPLC Method for Quantification of Multivitamins in Pharmaceutical and Food Samples
Authors: Hassan M. Albishri, Abdullah Almalawi, Deia Abd El-Hady
Abstract:
A simple and ecofriendly cyclodextrine-surfactant modified UHPLC (CDS-UPLC) method for rapid and sensitive simultaneous determination of multi water-soluble vitamins such as ascorbic acid, pyridoxine hydrochloride and thiamine hydrochloride in commercial pharmaceuticals and milk samples have been firstly developed. Several chromatographic effective parameters have been changed in a systematic way. Adequate results have been achieved by a mixture of β-cyclodextrine (β-CD) and cationic surfactant under acidic conditions as an eco-friendly isocratic mobile phase at 0.02 mL/min flow rate. The proposed CDS- UHPLC method has been validated for the quantitative determination of multivitamins within 8 min in food and pharmaceutical samples. The method showed excellent linearity for analytes in a wide range of 10-1000 ng/µL. The repeatability and reproducibility of data were about 2.14 and 4.69 RSD%, respectively. The limits of detection (LODs) of analytes ranged between 0.86 and 5.6 ng/µL with a range of 81.8 -115.8% recoveries in tablets and milk samples. The current first CDS- UHPLC method could have vast applications for the precise analysis of multivitamins in complicated matrices.Keywords: ecofriendly, cyclodextrine-surfactant, multivitamins, UHPLC
Procedia PDF Downloads 2632242 Study of Relation between Corporate Governance Mechanism and Investment Decisions Made by Companies Listed in Tehran Stock Exchange- IRAN
Authors: Roohollah Jamshidpour, Elaheh Ahmadi, Farhad Shah Veisi
Abstract:
Present research seeks to answer this question: Is there any relationship between corporate governance mechanisms and decision on corporate investments? Percentages of institutional, board of director’s, and stockholder’s ownership are among internal mechanisms of corporate governance relationship of which with investment-based decisions are studied by this research. Information on 103 companies during 1388 (2009)- 1393 (2014). Initially, research variables are identified; next, Rah Avard-e Novin software is used to gather Information. SPSS software is employed to test hypotheses with respect to descriptive and inferential statistics like correlation analysis. Research results show that percentage of institutional stockholders’ ownership has a significant direct relationship with investment decisions. For other cases, no significant relationship is observed between corporate governance mechanisms and investment decisions.Keywords: corporate governance, company size, free floating stock, institutional investors, major shareholders
Procedia PDF Downloads 2872241 Comparison of Heuristic Methods for Solving Traveling Salesman Problem
Authors: Regita P. Permata, Ulfa S. Nuraini
Abstract:
Traveling Salesman Problem (TSP) is the most studied problem in combinatorial optimization. In simple language, TSP can be described as a problem of finding a minimum distance tour to a city, starting and ending in the same city, and exactly visiting another city. In product distribution, companies often get problems in determining the minimum distance that affects the time allocation. In this research, we aim to apply TSP heuristic methods to simulate nodes as city coordinates in product distribution. The heuristics used are sub tour reversal, nearest neighbor, farthest insertion, cheapest insertion, nearest insertion, and arbitrary insertion. We have done simulation nodes using Euclidean distances to compare the number of cities and processing time, thus we get optimum heuristic method. The results show that the optimum heuristic methods are farthest insertion and nearest insertion. These two methods can be recommended to solve product distribution problems in certain companies.Keywords: Euclidean, heuristics, simulation, TSP
Procedia PDF Downloads 1212240 Impact of Lifelong-Learning Mindset on Career Success of the Accounting and Finance Professionals
Authors: R. W. A. V. A. Wijenayake, P. M. R. N. Fernando, S. Nilesh, M. D. G. M. S. Diddeniya, M. Weligodapola, P. Shamila
Abstract:
The study is designed to examine the impact of a lifelong learning mindset on the career success of accounting and finance professionals in the western province of Sri Lanka. The learning mindset impacts the career success of accounting and finance professionals. The main objective of this study is to identify how the lifelong-learning mindset impacts on the career success of accounting and finance professionals. The lifelong learning mindset is the desire to learn new things and curiosity, resilience, and strategic thinking are the selected constructs to measure the lifelong learning mindset. Career success refers to certain objectives and emotional measures of improvement in one’s work life. The related variables of career success are measured through the number of promotions that have been granted in his/her work life. Positivism is the research paradigm, and the deductive approach is involved as this study relies on testing an existing theory. To conduct the study, the accounting and finance professionals in the western province in Sri Lanka were selected because most reputed international and local companies and specifically, headquarters of most of the companies are in western province. The responses cannot be collected from the whole population. Therefore, this study used a simple random sampling method, and the sample size was 120. Therefore, to identify the impact, 5-point Likert scale is used to perform this quantitative data. Required data gathered through an online questionnaire and the final outputs of the study will offer certain important recommendations to several parties such as universities, undergraduates, companies, and the policymakers to improve, help mentally and financially and motivate the students and the employees to continue their studies without ceasing after completion of their degree.Keywords: career success, curiosity, lifelong learning mindset, resilience, strategic thinking
Procedia PDF Downloads 802239 Open Source Software in Higher Education: Oman SQU Case Study
Authors: Amal S. Al-Badi, Ali H. Al-Badi
Abstract:
Many organizations are opting to adopt Open Source Software (OSS) as it is the current trend to rely on each other rather than on companies (Software vendors). It is a clear shift from organizations to individuals, the concept being to rely on collective participation rather than companies/vendors. The main objectives of this research are 1) to identify the current level of OSS usage in Sultan Qaboos University; 2) to identify the potential benefits of using OSS in educational institutes; 3) to identify the OSS applications that are most likely to be used within an educational institute; 4) to identify the existing and potential barriers to the successful adoption of OSS in education. To achieve these objectives a two-stage research method was conducted. First a rigorous literature review of previously published material was performed (interpretive/descriptive approach), and then a set of interviews were conducted with the IT professionals at Sultan Qaboos University in Oman in order to explore the extent and nature of their usage of OSS.Keywords: open source software, social software, e-learning 2.0, Web 2.0, connectivism, personal learning environment (PLE), OpenCourseWare
Procedia PDF Downloads 3012238 Implementing Delivery Drones in Logistics Business Process: Case of Pharmaceutical Industry
Authors: Nikola Vlahovic, Blazenka Knezevic, Petra Batalic
Abstract:
In this paper, we will present a research about feasibility of implementing unmanned aerial vehicles, also known as 'drones', in logistics. Research is based on available information about current incentives and experiments in application of delivery drones in commercial use. Overview of current pilot projects and literature, as well as an overview of detected challenges, will be compiled and presented. Based on these findings, we will present a conceptual model of business process that implements delivery drones in business to business logistic operations. Business scenario is based on a pharmaceutical supply chain. Simulation modeling will be used to create models for running experiments and collecting performance data. Comparative study of the presented conceptual model will be given. The work will outline the main advantages and disadvantages of implementing unmanned aerial vehicles in delivery services as a supplementary distribution channel along the supply chain.Keywords: business process, delivery drones, logistics, simulation modelling, unmanned aerial vehicles
Procedia PDF Downloads 3892237 Proactive Competence Management for Employees: A Bottom-up Process Model for Developing Target Competence Profiles Based on the Employee's Tasks
Authors: Maximilian Cedzich, Ingo Dietz Von Bayer, Roland Jochem
Abstract:
In order for industrial companies to continue to succeed in dynamic, globalized markets, they must be able to train their employees in an agile manner and at short notice in line with the exogenous conditions that arise. For this purpose, it is indispensable to operate a proactive competence management system for employees that recognizes qualification needs timely in order to be able to address them promptly through qualification measures. However, there are hardly any approaches to be found in the literature that includes systematic, proactive competence management. In order to help close this gap, this publication presents a process model that systematically develops bottom-up, future-oriented target competence profiles based on the tasks of the employees. Concretely, in the first step, the tasks of the individual employees are examined for assumed future conditions. In other words, qualitative scenarios are considered for the individual tasks to determine how they are likely to change. In a second step, these scenario-based future tasks are translated into individual future-related target competencies of the employee using a matrix of generic task properties. The final step pursues the goal of validating the target competence profiles formed in this way within the framework of a management workshop. This process model provides industrial companies with a tool that they can use to determine the competencies required by their own employees in the future and compare them with the actual prevailing competencies. If gaps are identified between the target and the actual, these qualification requirements can be closed in the short term by means of qualification measures.Keywords: dynamic globalized markets, employee competence management, industrial companies, knowledge management
Procedia PDF Downloads 1872236 Fama French Four Factor Model: A Study of Nifty Fifty Companies
Authors: Deeksha Arora
Abstract:
The study aims to explore the applicability of the widely used asset pricing models, namely, Capital Asset Pricing Model (CAPM) and the Fama-French Four Factor Model in the Indian equity market. The study will be based on the companies that form part of the Nifty Fifty Index for a period of five years: 2011 to 2016. The asset pricing model is examined by forming portfolios on the basis of three variables – market capitalization (size effect), book-to-market equity ratio (value effect) and profitability. The study provides a basis to test the presence of the Fama-French Four factor model in Indian stock market. This study may provide a basis for future research in the generalized asset pricing model comprising of multiple risk factors.Keywords: book to market equity, Fama French four factor model, market capitalization, profitability, size effect, value effect
Procedia PDF Downloads 2552235 Innovation and Performance of Very Small Agri-Food Enterprises in Cameroon
Authors: Ahmed Moustapha Mfokeu
Abstract:
Agri-food VSEs in Cameroon are facing a succession of crises, lack of security, particularly in the Far North, South West, and North West regions, the consequences of the Covid 19 crisis, and the war in Ukraine . These multiple crises have benefited the reception of the prices of the raw materials. Moreover, the exacerbation of competitive pressures is driven by the technological acceleration of productive systems in emerging countries which increase the demands imposed on the markets. The Cameroonian VSE must therefore be able to meet the new challenges of international competition, especially through innovation. The objective of this research is to contribute to the knowledge of the effects of innovation on the performance of very small agribusinesses in Cameroon. On the methodological level, the data were provided from a sample of 153 companies in the cities of Douala and Yaoundé. This research uses structural equation models with latent variables. The main results show that there is a positive and significant link between innovation and the performance of very small agri-food companies, so if it is important for entrepreneurs to encourage and practice innovation, it is also necessary to make them understand and make them like this aspect in their strategic function.Keywords: innovation, performance, very small enterprise, agrifood
Procedia PDF Downloads 99