Search results for: cost transparency

Authors: Lei Zhao, Zhe Yuan, Wenyue Kuang

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This paper studies two-warehouse inventory models for a deteriorating item considering that the demand is influenced by inventory levels. The problem mainly focuses on the optimal order policy and the optimal order cycle with inventory-level-dependent demand in two-warehouse system for retailers. It considers the different deterioration rates and the inventory holding costs in owned warehouse (OW) and rented warehouse (RW), and the conditions of transportation cost, allowed shortage and partial backlogging. Two inventory models are formulated: last-in first-out (LIFO) model and first-in-first-out (FIFO) model based on the policy choices of LIFO and FIFO, and a comparative analysis of LIFO model and FIFO model is made. The study finds that the FIFO policy is more in line with realistic operating conditions. Especially when the inventory holding cost of OW is high, and there is no difference or big difference between deterioration rates of OW and RW, the FIFO policy has better applicability. Meanwhile, this paper considers the differences between the effects of warehouse and shelf inventory levels on demand, and then builds retailers’ inventory decision model and studies the factors of the optimal order quantity, the optimal order cycle and the average inventory cost per unit time. To minimize the average total cost, the optimal dispatching policies are provided for retailers’ decisions.

Keywords: FIFO model, inventory-level-dependent, LIFO model, two-warehouse inventory

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Authors: S. Abdourraziq, M. A. Abdourraziq

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One of the most famous and important applications of solar energy systems is water pumping. It is often used for irrigation or to supply water in countryside or private firm. However, the cost and the efficiency are still a concern, especially with a continued variation of solar radiation and temperature throughout the day. Then, the improvement of the efficiency of the system components is one of the different solutions to reducing the cost. In this paper, we will present a detailed definition of each element of a PV pumping system, and we will present the different MPPT algorithm used in the literature. Our system consists of a PV panel, a boost converter, a motor-pump set, and a storage tank.

Keywords: PV cell, converter, MPPT, MPP, PV pumping system

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Authors: Rodrigo Zepeda

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Transaction cost analysis (TCA) is a way of analyzing the relative performance of different intermediaries and different trading strategies for trades undertaken in financial instruments. It is a way for an investor to determine the overall quality of execution of a particular trade, and there are many different approaches to undertaking TCA. Under the updated Markets in Financial Instruments Directive (2014/65/EU) (MiFID II), investment firms are required when executing orders, to take all sufficient steps to obtain the best possible result for their clients. This requirement for 'Best Execution' must take into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. The new regulatory compliance framework under MiFID II will now also apply across a very broad range of financial instruments. This article will provide a comprehensive technical analysis of how TCA and Best Execution will significantly change under MiFID II. It will also explain why harmonization of post-trade reporting requirements under MiFID II could potentially support the development of peer group analysis, which in turn could provide a new and highly advanced framework for TCA that could more effectively support Best Execution requirements under MiFID II. The study is significant because there are no studies that have dealt with TCA and Best Execution under MiFID II in the literature.

Keywords: transaction cost analysis, execution quality, best execution, MiFID II, financial instruments

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Authors: Alireza Alesaadi

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Reliability analysis is a powerful method for determining the weak points of the electrical networks. In designing of electrical network, it is tried to design the most reliable network with minimal system shutting down, but it is usually associated with increasing the cost. In this paper, using adaptive genetic algorithm, a method was presented that provides the most reliable system with a certain economical cost. Finally, the proposed method is applied to a sample network and results will be analyzed.

Keywords: reliability, adaptive genetic algorithm, electrical network, communication engineering

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Authors: Harshkumar K. Desai, Anuj K. Desai, Jay P. Patel, Snehal V. Trivedi, Yogendrasinh Parmar

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The need of continuous improvement in a product or process in this era of global competition leads to apply value engineering for functional and aesthetic improvement in consideration with economic aspect too. Solar industries located at G.I.D.C., Makarpura, Vadodara, Gujarat, India; a manufacturer of variety of CNC Machines had a challenge to analyze the structural design of column, base, carriage and table of CNC Milling Machine in the account of reduction of overall weight of a machine without affecting the rigidity and accuracy at the time of operation. The identified task is the first attempt to validate and optimize the proposed design of ribbed structure statically using advanced modeling and analysis tools in a systematic way. Results of stress and deformation obtained using analysis software are validated with theoretical analysis and found quite satisfactory. Such optimized results offer a weight reduction of the final assembly which is desired by manufacturers in favor of reduction of material cost, processing cost and handling cost finally.

Keywords: CNC milling machine, optimization, finite element analysis (FEA), weight reduction

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Authors: Fuqiang Wang, Jun Liu, Liyan Cai

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This paper investigates the coordination of the conflicting two-stage low carbon supply chain consisting of upstream and downstream manufacturers. The conflict means that the upstream manufacturer takes action for carbon emissions reduction under carbon trading mechanism while the downstream manufacturer’s production cost rises. It assumes for the Stackelberg game that the upstream manufacturer plays as a leader and the downstream manufacturer does as a follower. Four kinds of the situation of decentralized decision making, centralized decision-making, the production cost sharing contract and the carbon emissions reduction revenue sharing contract under decentralized decision making are considered. The backward induction approach is adopted to solve the game. The results show that the more intense the conflict is, the lower the efficiency of carbon emissions reduction and the higher the retail price is. The optimal investment of the decentralized supply chain under the two contracts is unchanged and still lower than that of the centralized supply chain. Both the production cost sharing contract and the carbon emissions reduction revenue sharing contract cannot coordinate the supply chain, because that the sharing cost or carbon emissions reduction sharing revenue will transfer through the wholesale price mechanism. As a result, it requires more complicated contract forms to coordinate such a supply chain.

Keywords: cap-and-trade mechanism, carbon emissions reduction, conflict, supply chain coordination

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Authors: Zunaira Asif, Zhi Chen

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The sustainable measures on air quality management are recognized as one of the most serious environmental concerns in the mining region. The mining operations emit various types of pollutants which have significant impacts on the environment. This study presents a stochastic control strategy by developing the air pollution control model to achieve a cost-effective solution. The optimization method is formulated to predict the cost of treatment using linear programming with an objective function and multi-constraints. The constraints mainly focus on two factors which are: production of metal should not exceed the available resources, and air quality should meet the standard criteria of the pollutant. The applicability of this model is explored through a case study of an open pit metal mine, Utah, USA. This method simultaneously uses meteorological data as a dispersion transfer function to support the practical local conditions. The probabilistic analysis and the uncertainties in the meteorological conditions are accomplished by Monte Carlo simulation. Reasonable results have been obtained to select the optimized treatment technology for PM_2.5, PM₁₀, NO_x, and SO₂. Additional comparison analysis shows that baghouse is the least cost option as compared to electrostatic precipitator and wet scrubbers for particulate matter, whereas non-selective catalytical reduction and dry-flue gas desulfurization are suitable for NO_x and SO₂ reduction respectively. Thus, this model can aid planners to reduce these pollutants at a marginal cost by suggesting control pollution devices, while accounting for dynamic meteorological conditions and mining activities.

Keywords: air pollution, linear programming, mining, optimization, treatment technologies

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Authors: Ahmed Aisa, Tariq Iqbal

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This letter talks about the ready-to-use design of a solar water heating system because, in Canada, the average consumption of hot water per person is approximately 50 to 75 L per day and the average Canadian household uses 225 L. Therefore, this paper will demonstrate the method of designing a solar water heating system with thermal storage. It highlights the renewable hybrid power system, allowing you to obtain a reliable, independent system with the optimization of the ingredient size and at an improved capital cost. The system can provide hot water for a big building. The main power for the system comes from solar panels. Solar Advisory Model (SAM) and HOMER are used. HOMER and SAM are design models that calculate the consumption of hot water and cost for a house. Some results, obtained through simulation, were for monthly energy production, annual energy production, after tax cash flow, the lifetime of the system and monthly energy usage represented by three types of energy. These are system energy, electricity load electricity and net metering credit.

Keywords: water heating, thermal storage, capital cost solar, consumption

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Authors: Ochuko K. Overen, Golden Makaka, Edson L. Meyer, Sampson Mamphweli

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Low-cost housing provided for people with small incomes in South Africa are characterized by poor thermal performance. This is due to inferior craftsmanship with no regard to energy efficient design during the building process. On average, South African households spend 14% of their total monthly income on energy needs, in particular space heating; which is higher than the international benchmark of 10% for energy poverty. Adopting energy efficient passive solar design strategies and superior thermal building materials can create a stable thermal comfort environment indoors. Thereby, reducing energy consumption for space heating. The aim of this study is to analyse the thermal behaviour of a low-cost house integrated with passive solar design features. A low-cost passive solar house with superstructure fly ash brick walls was designed and constructed in Somerset East, South Africa. Indoor and outdoor meteorological parameters of the house were monitored for a period of one year. The ASTM E741-11 Standard was adopted to perform ventilation test in the house. In summer, the house was found to be thermally comfortable for 66% of the period monitored, while for winter it was about 79%. The ventilation heat flow rate of the windows and doors were found to be 140 J/s and 68 J/s, respectively. Air leakage through cracks and openings in the building envelope was 0.16 m3/m2h with a corresponding ventilation heat flow rate of 24 J/s. The indoor carbon dioxide concentration monitored overnight was found to be 0.248%, which is less than the maximum range limit of 0.500%. The prediction percentage dissatisfaction of the house shows that 86% of the occupants will express the thermal satisfaction of the indoor environment. With a good operation of the house, it can create a well-ventilated, thermal comfortable and nature luminous indoor environment for the occupants. Incorporating passive solar design in low-cost housing can be one of the long and immediate solutions to the energy crisis facing South Africa.

Keywords: energy efficiency, low-cost housing, passive solar design, rural development, thermal comfort

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Authors: Debasis Sarkar

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Clean development mechanism (CDM) can act as an effective instrument for mitigating climate change. This mechanism can effectively reduce the emission of CO2 and other green house gases (GHG). Construction of a mega infrastructure project like underground corridor construction for metro rail operation involves in consumption of substantial quantity of concrete which consumes huge quantity of energy consuming materials like cement and steel. This paper is an attempt to develop an integrated clean development mechanism and risk management approach for sustainable development for an underground corridor metro rail project in India during its construction phase. It was observed that about 35% reduction in CO2 emission can be obtained by adding fly ash as a part replacement of cement. The reduced emission quantity of CO2 which is of the quantum of about 21,646.36 MT would result in cost savings of approximately INR 8.5 million (USD 1,29,878).But construction and operation of such infrastructure projects of the present era are subject to huge risks and uncertainties throughout all the phases of the project, thus reducing the probability of successful completion of the project within stipulated time and cost frame. Thus, an integrated approach of combining CDM with risk management would enable the metro rail authorities to develop a sustainable risk mitigation measure framework to ensure more cost and energy savings and lesser time and cost over-run.

Keywords: clean development mechanism (CDM), infrastructure transportation, project risk management, underground metro rail

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Authors: Tess Howard, Lily Owens, Maneesha De Silva, Russell Hodgson

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Purpose: This study aims to evaluate the cost-effectiveness of laparoscopic common bile duct exploration (CBDE) compared to endoscopic retrograde cholangiopancreatography (ERCP) and cholecystectomy for the emergency management of common bile duct (CBD) stones. Methodology: A retrospective case note review was conducted on consecutive patients undergoing emergency management of CBD stones using either CBDE, or ERCP and cholecystectomy at a single centre between January 2014-October 2014. Data on admission and procedural costs, length of hospital stay, postoperative complications and further stone related interventions were analysed. Results: A total of 350 patients were analysed. Among them, 299 patients underwent CBDE at the time of cholecystectomy, while the remaining 51 underwent ERCP either pre-, intra- or post cholecystectomy. CBDE was associated with lower overall costs compared to ERCP with an average hospital stay cost of $13,093 vs $22,930 respectively. This was largely attributed to shorter hospital stays (6.5 vs 10.3 days), decreased need for intensive care unit admission and fewer postoperative interventions within the CBDE group. Notably, single procedure laparoscopic cholecystectomy with CBDE demonstrated decreased operative costs compared to laparoscopic cholecystectomy combined with ERCP pre-/intra- or post-operatively ($3,747 vs. $4,641). Conclusion: Emergent CBDE is a cost-effective alternative to ERCP for managing CBD stones when combined with cholecystectomy. The upfront investment in equipment for CBDE and increased cholecystectomy procedural time is counterbalanced by reduced hospital stay, fewer procedures and subsequent cost savings. Economic considerations, in conjunction with clinical outcomes, should inform the selection of the optimal approach for CBD stone management in emergency settings.

Keywords: choledocolithiasis, management, cost-effectiveness, endoscopic retrograde cholangiopancreatography, ERCP, CBDE, common bile duct exploration

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Authors: Asma A. Ben Ahmed, Hajer M. Alborawy, Alaa A. Mashina, Pradeep K. Velautham, Abdulmonem Gobassa, Emhemmed Elgallal, Mohamed N. El Attug

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Generic medicines are those where patent protection has expired, and which may be produced by manufacturers other than the innovator company. Use of generic medicines has been increasing in recent years, primarily as a cost saving measure in healthcare provision. Generic medicines are typically 20 – 90 % cheaper than originator equivalents. Physicians often continue to prescribe brand-name drugs to their patients even when less expensive pharmacologically equivalent generic drugs are available. Because generics are less expensive than their brand-name counterparts, the cost-savings to the patient is not the only factor that physicians consider when choosing between generic and brand-name drugs. Unfortunately Physicians in general and Libyan Physicians in particular tend to prescribe brand-name drugs, even without evidence of their therapeutic superiority, because neither they nor their insured patients bear these drugs’ increased cost with respect to generic substitutes. This study is to compare the quality of five different prednisolone tablets of the same strength from different companies under different trade names: Julphar, October pharma, Akums, Actavis, Pfizer compared them with pure prednisolone reference (BPCRS).

Keywords: quality control, pharmaceutical analysis, generic medicines, prednisolone

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Authors: Ahmed Aljudaya, Derek Ingham, Lin Ma, Kevin Hughes, Mohammed Pourkashanian

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Researchers, power companies, and state politicians have given concentrated solar power (CSP) much attention due to its capacity to generate large amounts of electricity whereas overcoming the intermittent nature of solar resources. The Linear Fresnel Reflector (LFR) is a well-known CSP technology type for being inexpensive, having a low land use factor, and suffering from low optical efficiency. The LFR was considered a cost-effective alternative option to the Parabolic Trough Collector (PTC) because of its simplistic design, and this often outweighs its lower efficiency. The LFR has been found to be a promising option for directly producing steam to a thermal cycle in order to generate low-cost electricity, but also it has been shown to be promising for indirect steam generation. The purpose of this important analysis is to compare the annual performance of the Direct Steam Generation (DSG) and Indirect Steam Generation (ISG) of LFR power plants using molten salt and other different Heat Transfer Fluids (HTF) to investigate their technical and economic effects. A 50 MWe solar-only system is examined as a case study for both steam production methods in extreme weather conditions. In addition, a parametric analysis is carried out to determine the optimal solar field size that provides the lowest Levelized Cost of Electricity (LCOE) while achieving the highest technical performance. As a result of optimizing the optimum solar field size, the solar multiple (SM) is found to be between 1.2 – 1.5 in order to achieve as low as 9 Cent/KWh for the direct steam generation of the linear Fresnel reflector. In addition, the power plant is capable of producing around 141 GWh annually and up to 36% of the capacity factor, whereas the ISG produces less energy at a higher cost. The optimization results show that the DSG’s performance overcomes the ISG in producing around 3% more annual energy, 2% lower LCOE, and 28% less capital cost.

Keywords: concentrated solar power, levelized cost of electricity, linear Fresnel reflectors, steam generation

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Authors: Sanjoy Mukherjee

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Discussions on concepts of Single Axis Tracker (SAT) are becoming more and more apt for developing countries like India not just as an advancement in racking technology but due to the utmost necessity of reaching at the lowest Levelized Cost of Energy (LCOE) targets. With this increasing competition and significant fall in feed-in tariffs of solar PV projects, developers are under constant pressure to secure investment for their projects and eventually earn profits from them. Moreover, being the second largest populated country, India suffers from scarcity of land because of higher average population density. So, to mitigate the risk of this dual edged sword with reducing trend of unit (kWh) cost at one side and utilization of land on the other, tracking evolved as the call of the hour. Therefore, the prime objectives of this paper are not only to showcase how STT proves to be an effective mechanism to get more gain in Global Incidence in collector plane (G_inc) with respect to traditional mounting systems but also to introduce Seasonally Tilted Tracker (STT) technology as a possible option for high latitude locations.

Keywords: tracking system, grid connected solar PV plant, CAPEX reduction, levelized cost of energy

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Authors: Masoud Rabbani, Majede Smizadeh, Hamed Farrokhi-Asl

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We study jointly determining prices and production in a multiple period horizon under a general non-stationary stochastic demand with continuous prices. In some periods we need to increase capacity of production to satisfy demand. This paper presents a model to aid multi-period production capacity planning by quantifying the trade-off between product quality and production cost. The product quality is estimated as the statistical variation from the target performances obtained from the output tolerances of the production machines that manufacture the components. We consider different tolerance for different machines that use to increase capacity. The production cost is estimated as the total cost of owning and operating a production facility during the planning horizon.so capacity planning has cost that impact on price. Pricing products often turns out to be difficult to measure them because customers have a reservation price to pay that impact on price and demand. We decide to determine prices and production for periods after enhance capacity and consider reservation price to determine price. First we use an algorithm base on fuzzy set of the optimal objective function values to determine capacity planning by determine maximize interval from upper bound in minimum objectives and define weight for objectives. Then we try to determine inventory and pricing policies. We can use a lemma to solve a problem in MATLAB and find exact answer.

Keywords: price policy, inventory policy, capacity planning, product quality, epsilon -constraint

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Authors: Weerawan Marangkun

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This study is a survey intended to investigate cost, revenue and factors affecting changes in revenue and to provide guidelines for improving factors affecting changes in revenue from tourist walking street activities in Songkhla City Municipality. Instruments used in this study were structured interviews, using Yaman table (1973) where the random sampling error was+ 10%. The sample consisting of 83 entrepreneurs were drawn from a total population of 272. The purposive sampling method was used. Data were collected during the 6-month period from December 2011 until May 2012. The findings indicate that the cost paid by an entrepreneur in connection with his/her services for tourists is mainly for travel, which stands at about 290 Baht per day. Each entrepreneur earns about 3,850 Baht per day, which means about 400,000 Baht per year. The combined total revenue from walking street tourist activities is about 108.8 million Baht per year. Such activities add economic value to tourist facilities due to expenditures by tourists and provide the entrepreneurs with considerable income. Factors affecting changes in revenue from tourist walking street activities are: the increase in the number of entrepreneurs; the holding of trade fairs, events or interesting shows in the vicinity; and weather conditions (e.g. abundant rainfall, which can contribute to a decrease in the number of tourists). Suggested measures to improve factors affecting changes in the income are: addition or creation of new activities; regulation of operations of the stalls and parking area; and generation of greater publicity through the social network.

Keywords: cost, revenue, tourist, walking street

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Authors: Siti Mariani, Arwin DW Sumari, Retno Gumilang Dewi

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This paper analyzes the necessity of a structured tariff calculation for geothermal electricity in Indonesia. Indonesia is blessed with abundant natural resources and a choices of energy resources to generate electricity among other are coal, gas, biomass, hydro to geothermal, creating a fierce competition in electricity tariffs. While geothermal is inline with energy security principle and green growth initiative, it requires a huge capital funding. Geothermal electricity development consists of phases of project with each having its own financial characteristics. The Indonesian government has set a support in the form of ceiling price of geothermal electricity tariff by 11 U.S cents / kWh. However, the government did not set a levelized cost of geothermal, as an indication of lower limit capacity class, to which support is given. The government should establish a levelized cost of geothermal energy to reflect its financial capability in supporting geothermal development. Aside of that, the government is also need to establish a structured tariff calculation to reflect a fair and transparent business cooperation.

Keywords: load fator, levelized cost of geothermal, geothermal power plant, structured tariff calculation

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Authors: Fakhruddin Esa, Yusri Yusof

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The confirmatory of Total Quality Management (TQM) implementation is most vital in quality management. This paper focuses on employees' perceptions towards TQM implementation in a local automotive company supplier. The objectives of this study are first and foremost to determine the perception of TQM implementation among the staff, and secondly to ascertain the correlation between the variables, and lastly to identify the relative influence of the 10 TQM variables on the cost of poor quality (COPQ). The TQM implementation is perceived to be moderate. All correlation is found to be significant and five variables having positively moderate to high correlation. Out of 10 variables, quality system improvement, reward and recognition and customer focus influence the perceived COPQ. This study extended a discussion on these three variables contribution to TQM in general and the human resource development in the organization. A significant recommendation to lowering costs of internal error, such as trouble shooting and scraps are also discussed. Certain components of further research that would add value to this study have also been suggested and perhaps could be implemented at policy-level initiatives.

Keywords: cost of poor quality (COPQ), correlation, total quality management (TQM), variables

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Authors: Hafiz Muhammad Umer Aslam, Mohammad Rafiq Khan

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This techno-economic study reports the feasibility of generating thermoelectric power from municipal solid waste (MSW) of Kasur City by incineration process. The data was gathered from different establishments of Kasur, through appropriate permission from their heads, and processed to design different alternative projects for installation of a thermal power plant in the city of Kasur. A technique of discounted cash flow was used to evaluate alternative projects so that their Benefit to Cost Ratio, Net Present Value, Internal Rate of Return and Payback Period can be determined. The study revealed that Kasur City currently consumes 18MWh electricity and generates 179 tons/day MSW. The generated waste has the ability to produce 2.1MWh electricity at the cost of USD 0.0581/unit with an expenditure of USD 3,907,692 as initial fixed investment of forming about 1/7th of consumption of Kasur. The cost from this source, when compared to current rate of electricity in Pakistan (USD 0.1346), is roughly half.

Keywords: Kasur City, resource recovery, thermoelectric power, waste management

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Authors: Morten Stigaard Laursen, Rasmus Nyholm Jørgensen, Mads Dyrmann, Robert Poulsen

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For the past three years, the Danish project, RoboWeedSupport, has sought to bridge the gap between the potential herbicide savings using a decision support system and the required weed inspections. In order to automate the weed inspections it is desired to generate a map of the weed species present within the field, to generate the map images must be captured with samples covering the field. This paper investigates the economical cost of performing this data collection based on a camera system mounted on a all-terain vehicle (ATV) able to drive and collect data at up to 50 km/h while still maintaining a image quality sufficient for identifying newly emerged grass weeds. The economical estimates are based on approximately 100 hectares recorded at three different locations in Denmark. With an average image density of 99 images per hectare the ATV had an capacity of 28 ha per hour, which is estimated to cost 6.6 EUR/ha. Alternatively relying on a boom solution for an existing tracktor it was estimated that a cost of 2.4 EUR/ha is obtainable under equal conditions.

Keywords: weed mapping, integrated weed management, weed recognition, image acquisition

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Authors: R. J. Kuo, W. C. Cheng, W. C. Lien, T. J. Yang

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Taiwan is a hyper endemic area for the Hepatitis B virus (HBV). The estimated total number of HBsAg carriers in the general population who are more than 20 years old is more than 3 million. Therefore, a case record review is conducted from January 2003 to June 2007 for all patients with a diagnosis of acute hepatitis who were admitted to the Emergency Department (ED) of a well-known teaching hospital. The cost for the use of medical resources is defined as the total medical fee. In this study, principal component analysis (PCA) is firstly employed to reduce the number of dimensions. Support vector regression (SVR) and artificial neural network (ANN) are then used to develop the forecasting model. A total of 117 patients meet the inclusion criteria. 61% patients involved in this study are hepatitis B related. The computational result shows that the proposed PCA-SVR model has superior performance than other compared algorithms. In conclusion, the Child-Pugh score and echogram can both be used to predict the cost of medical resources for patients with acute hepatitis in the ED.

Keywords: acute hepatitis, medical resource cost, artificial neural network, support vector regression

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Authors: Khaldon Lweesy, Feryal Alskafi, Rabaa Hammad, Shaker Khanfar, Yara Alsukhni

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Electronic noses are devices designed to emulate the humane sense of smell by characterizing and differentiating odor profiles. In this study, we build a low-cost e-nose using an array module containing four different types of metal oxide semiconductor gas sensors. We used this system to create a profile for a meat specimen over three days. Then using a pattern recognition software, we correlated the odor of the specimen to its age. It is a simple, fast detection method that is both non-expensive and non-destructive. The results support the usage of this technology in food control management.

Keywords: e-nose, low cost, odor detection, food safety

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Authors: Sayor Ajfar Aaron, Sajjat Hossain Abir, Ashif Newaz, Mushfiqur Rahman

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Investigating the convergence of blockchain technology and artificial intelligence, this paper examines their synergistic effects on data integrity and decision-making within smart contracts. By implementing AI-driven analytics on blockchain-based platforms, the research identifies improvements in automated contract enforcement and decision accuracy. The paper presents a framework that leverages AI to enhance transparency and trust while blockchain ensures immutable record-keeping, culminating in significantly optimized operational efficiencies in various industries.

Keywords: artificial intelligence, blockchain, data integrity, smart contracts

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Authors: Abdelhalem Shahen

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The world is now experiencing a digital revolution and greatly accelerated technological developments, in addition to the transition from the economy in its traditional form to the digital economy, which has resulted in the emergence of new tools that are appropriate to those developments, and from this, this paper attempts to explore the economic characteristics of the bitcoin currency that circulated recently. Due to the many advantages that distinguish it from money in its traditional forms, which have a range of economic effects. The study found that Bitcoin is among the technological innovations, which contain a set of characteristics that are worth studying, those that make it the focus of attention, such as the digital currency, the peer-to-peer property, Lower and Faster Transaction Costs, transparency, decentralized control, privacy, and Double-Spending, as well as security and Cryptographic, and finally mining.

Keywords: Digital Economics, Digital Currencies, Bitcoin, Features of Bitcoin

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Authors: Brian J. Kozak, Joshua D. Shipman, Peng Hao Wang, Blake Shipp

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The unmanned aerial system (UAS) industry is growing at a rapid pace. This growth has increased the demand for low cost, custom made and high strength unmanned aerial vehicles (UAV). The area of most growth is in the area of 25 kg to 200 kg vehicles. Vehicles this size are beyond the size and scope of simple wood and fabric designs commonly found in hobbyist aircraft. These high end vehicles require stronger materials to complete their mission. Traditional aircraft construction materials such as aluminum are difficult to use without machining or advanced computer controlled tooling. However, by using general aviation composite aircraft homebuilding techniques and materials, a large scale UAV can be constructed cheaply and easily. Furthermore, these techniques could be used to easily manufacture cost made composite shapes and airfoils that would be cost prohibitive when using metals. These homebuilt aircraft techniques are being demonstrated by the researchers in the construction of a 75 kg aircraft.

Keywords: composite aircraft, homebuilding, unmanned aerial system industry, UAS, unmanned aerial vehicles, UAV

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Authors: Essa Abrahim Abdulgader Saleem, Thien-My Dao

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The main objective of this paper is to optimize series-parallel system reliability using Genetic Algorithm (GA) and statistical analysis; considering system reliability constraints which involve the redundant numbers of selected components, total cost, and total weight. To perform this work, firstly the mathematical model which maximizes system reliability subject to maximum system cost and maximum system weight constraints is presented; secondly, a statistical analysis is used to optimize GA parameters, and thirdly GA is used to optimize series-parallel systems reliability. The objective is to determine the strategy choosing the redundancy level for each subsystem to maximize the overall system reliability subject to total cost and total weight constraints. Finally, the series-parallel system case study reliability optimization results are showed, and comparisons with the other previous results are presented to demonstrate the performance of our GA.

Keywords: reliability, optimization, meta-heuristic, genetic algorithm, redundancy

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Authors: Diogo José Morgado Rebelo, Francisco António Carneiro Pacheco de Andrade, Paulo Jorge Freitas de Oliveira Novais

Abstract:

Not everything in AI-power consumer credit scoring turns out to be a wonder. When using AI in Creditworthiness Assessment (CWA), opacity and unfairness ‘sins’ must be considered to the task be deemed Responsible. AI software is not always 100% accurate, which can lead to misclassification. Discrimination of some groups can be exponentiated. A hetero personalized identity can be imposed on the individual(s) affected. Also, autonomous CWA sometimes lacks transparency when using black box models. However, for this intended purpose, human analysts ‘on-the-loop’ might not be the best remedy consumers are looking for in credit. This study seeks to explore the legality of implementing a Multi-Agent System (MAS) framework in consumer CWA to ensure compliance with the regulation outlined in Article 14(4) of the Proposal for an Artificial Intelligence Act (AIA), dated 21 April 2021 (as per the last corrigendum by the European Parliament on 19 April 2024), Especially with the adoption of Art. 18(8)(9) of the EU Directive 2023/2225, of 18 October, which will go into effect on 20 November 2026, there should be more emphasis on the need for hybrid oversight in AI-driven scoring to ensure fairness and transparency. In fact, the range of EU regulations on AI-based consumer credit will soon impact the AI lending industry locally and globally, as shown by the broad territorial scope of AIA’s Art. 2. Consequently, engineering the law of consumer’s CWA is imperative. Generally, the proposed MAS framework consists of several layers arranged in a specific sequence, as follows: firstly, the Data Layer gathers legitimate predictor sets from traditional sources; then, the Decision Support System Layer, whose Neural Network model is trained using k-fold Cross Validation, provides recommendations based on the feeder data; the eXplainability (XAI) multi-structure comprises Three-Step-Agents; and, lastly, the Oversight Layer has a 'Bottom Stop' for analysts to intervene in a timely manner. From the analysis, one can assure a vital component of this software is the XAY layer. It appears as a transparent curtain covering the AI’s decision-making process, enabling comprehension, reflection, and further feasible oversight. Local Interpretable Model-agnostic Explanations (LIME) might act as a pillar by offering counterfactual insights. SHapley Additive exPlanation (SHAP), another agent in the XAI layer, could address potential discrimination issues, identifying the contribution of each feature to the prediction. Alternatively, for thin or no file consumers, the Suggestion Agent can promote financial inclusion. It uses lawful alternative sources such as the share of wallet, among others, to search for more advantageous solutions to incomplete evaluation appraisals based on genetic programming. Overall, this research aspires to bring the concept of Machine-Centered Anthropocentrism to the table of EU policymaking. It acknowledges that, when put into service, credit analysts no longer exert full control over the data-driven entities programmers have given ‘birth’ to. With similar explanatory agents under supervision, AI itself can become self-accountable, prioritizing human concerns and values. AI decisions should not be vilified inherently. The issue lies in how they are integrated into decision-making and whether they align with non-discrimination principles and transparency rules.

Keywords: creditworthiness assessment, hybrid oversight, machine-centered anthropocentrism, EU policymaking

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Authors: Phrutsaya Piyanusorn

Abstract:

This study aimed to study the artificial barriers and potential restrictions. Aspects of farming, marketing and cost oriented commercial farming earthworms with organic waste. To promote the use of waste recycling and reduce the amount of organic waste that must be disposed. And to create added value this research focuses on qualitative and quantitative research. By earthworm farms surveyed collected insights to analyse the strengths, weaknesses, including problems, conditions and limitations. To get more updates, which covers the cost of marketing and farm management.

Keywords: farmin earthworms, commercial, organic waste, marketing management

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Authors: Watcharapan Sukkerd, Teeradej Wuttipornpun

Abstract:

This paper aims to present non-population search algorithms called tabu search (TS), simulated annealing (SA) and variable neighborhood search (VNS) to minimize the total cost of capacitated MRP problem in multi-stage assembly flow shop with two alternative machines. There are three main steps for the algorithm. Firstly, an initial sequence of orders is constructed by a simple due date-based dispatching rule. Secondly, the sequence of orders is repeatedly improved to reduce the total cost by applying TS, SA and VNS separately. Finally, the total cost is further reduced by optimizing the start time of each operation using the linear programming (LP) model. Parameters of the algorithm are tuned by using real data from automotive companies. The result shows that VNS significantly outperforms TS, SA and the existing algorithm.

Keywords: capacitated MRP, tabu search, simulated annealing, variable neighborhood search, linear programming, assembly flow shop, application in industry

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Authors: Sneha Shankar, Orlando Buendia, Will Evans

Abstract:

Alpha-1 antitrypsin deficiency (AATD) is a rare, genetic, and multisystemic condition. Underdiagnosis is common, leading to chronic pulmonary and hepatic complications, increased resource utilization, and additional costs to the healthcare system. Currently, there is limited evidence of the direct medical costs of AATD diagnosis in the UK. This study explores the economic impact of AATD patients during the 3 years before diagnosis and to identify the major cost drivers using primary and secondary care electronic health record (EHR) data. The 3 years before diagnosis time period was chosen based on the ability of our tool to identify patients earlier. The AATD algorithm was created using published disease criteria and applied to 148 known AATD patients’ EHR found in a primary care database of 936,148 patients (413,674 Biobank and 501,188 in a single primary care locality). Among 148 patients, 9 patients were flagged earlier by the tool and, on average, could save 3 (1-6) years per patient. We analysed 101 of the 148 AATD patients’ primary care journey and 20 patients’ Hospital Episode Statistics (HES) data, all of whom had at least 3 years of clinical history in their records before diagnosis. The codes related to laboratory tests, clinical visits, referrals, hospitalization days, day case, and inpatient admissions attributable to AATD were examined in this 3-year period before diagnosis. The average cost per patient was calculated, and the direct medical costs were modelled based on the mean prevalence of 100 AATD patients in a 500,000 population. A deterministic sensitivity analysis (DSA) of 20% was performed to determine the major cost drivers. Cost data was obtained from the NHS National tariff 2020/21, National Schedule of NHS Costs 2018/19, PSSRU 2018/19, and private care tariff. The total direct medical cost of one hundred AATD patients three years before diagnosis in primary and secondary care in the UK was £3,556,489, with an average direct cost per patient of £35,565. A vast majority of this total direct cost (95%) was associated with inpatient admissions (£3,378,229). The DSA determined that the costs associated with tier-2 laboratory tests and inpatient admissions were the greatest contributors to direct costs in primary and secondary care, respectively. This retrospective study shows the role of EHRs in calculating direct medical costs and the potential benefit of new technologies for the early identification of patients with AATD to reduce the economic burden in primary and secondary care in the UK.

Keywords: alpha-1 antitrypsin deficiency, costs, digital health, early diagnosis

Procedia PDF Downloads 167