Search results for: customer demand
3616 Factors Affecting Online Tourism Services in Israel
Authors: Shlomit Hon-Snir, Shosh Shahrabai, Sharon Teitler Regev, Anabel Friedlander-Lifszyc
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Today, online travel sites account for a large share of the orders for tourism services, leading to the expectation that many traditional travel agencies will become redundant in the future. Technological changes are offering customers a wider variety and better prices, and the improved competition in the industry has increased customer well-being significantly. Therefore, the question is whether all customers can enjoy this change, specifically whether different groups in the Israeli population enjoy the changes similarly. The purpose of this study is to identify the factors that affect the collection of data and the purchase of tourism products online and in particular to identify the barriers and limitations of technology usage among the population. The results of the current research are of great importance both economically and socially. The theory of Reasoned Action assumes that actual behavior is based on intention. Volitional behavior is predicted by individuals' attitudes to that behavior and by the way they think other people will look at them. Two cognitive variables regarding the use of technology are: perceived usefulness and perceived ease-of-use. Moreover, early adopters of innovations have different characteristics than people that adopt an innovation at a later stage. In the study, we analyze four groups of factors: Customer characteristics, internet usage, technology acceptance and product characteristics. Some of the parameters are gender, age, income level, frequency and type of internet use, proficiency in English, traveler type, number of trips abroad, perceived ease of use, perceived usefulness, perceived risk, perceived trust and product type. We investigate online purchasing and online information search separately. Data will be collected using an online questionnaire distributed among a representative sample of 600 citizens in Israel. Some of the research questions will be based on previous research studies (that underwent reliability and validity testing). Those questions will be translated into Hebrew and adjusted for the tested population.Keywords: customer characteristics, online travel sites, technology acceptance, tourism
Procedia PDF Downloads 2023615 Modelling of Relocation and Battery Autonomy Problem on Electric Cars Sharing Dynamic by Using Discrete Event Simulation and Petri Net
Authors: Taha Benarbia, Kay W. Axhausen, Anugrah Ilahi
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Electric car sharing system as ecologic transportation increasing in the world. The complexity of managing electric car sharing systems, especially one-way trips and battery autonomy have direct influence to on supply and demand of system. One must be able to precisely model the demand and supply of these systems to better operate electric car sharing and estimate its effect on mobility management and the accessibility that it provides in urban areas. In this context, our work focus to develop performances optimization model of the system based on discrete event simulation and stochastic Petri net. The objective is to search optimal decisions and management parameters of the system in order to fulfil at best demand while minimizing undesirable situations. In this paper, we present new model of electric cars sharing with relocation based on monitoring system. The proposed approach also help to precise the influence of battery charging level on the behaviour of system as important decision parameter of this complex and dynamical system.Keywords: electric car-sharing systems, smart mobility, Petri nets modelling, discrete event simulation
Procedia PDF Downloads 1833614 Established Novel Approach for Chemical Oxygen Demand Concentrations Measurement Based Mach-Zehner Interferometer Sensor
Authors: Su Sin Chong, Abdul Aziz Abdul Raman, Sulaiman Wadi Harun, Hamzah Arof
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Chemical Oxygen Demand (COD) plays a vital role determination of an appropriate strategy for wastewater treatment including the control of the quality of an effluent. In this study, a new sensing method was introduced for the first time and developed to investigate chemical oxygen demand (COD) using a Mach-Zehner Interferometer (MZI)-based dye sensor. The sensor is constructed by bridging two single mode fibres (SMF1 and SMF2) with a short section (~20 mm) of multimode fibre (MMF) and was formed by tapering the MMF to generate evanescent field which is sensitive to perturbation of sensing medium. When the COD concentration increase takes effect will induce changes in output intensity and effective refractive index between the microfiber and the sensing medium. The adequacy of decisions based on COD values relies on the quality of the measurements. Therefore, the dual output response can be applied to the analytical procedure enhance measurement quality. This work presents a detailed assessment of the determination of COD values in synthetic wastewaters. Detailed models of the measurement performance, including sensitivity, reversibility, stability, and uncertainty were successfully validated by proficiency tests where supported on sound and objective criteria. Comparison of the standard method with the new proposed method was also conducted. This proposed sensor is compact, reliable and feasible to investigate the COD value.Keywords: chemical oxygen demand, environmental sensing, Mach-Zehnder interferometer sensor, online monitoring
Procedia PDF Downloads 4943613 The Interplay between Consumer Knowledge, Cognitive Effort, Financial Healthiness and Trust in the Financial Marketplace
Authors: Torben Hansen
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While trust has long been regarded as one of the most critical variables for developing and maintaining well-functioning financial customer-seller relationships it can be suggested that trust not only relates to customer trust in individual companies (narrow-scope trust). Trust also relates to the broader business context in which consumers may carry out their financial behaviour (broad-scope trust). However, despite the well-recognized significance of trust in marketing research, only few studies have investigated the role of broad-scope trust in consumer financial behaviour. Moreover, as one of its many serious outcomes, the global financial crisis has elevated the need for an improved understanding of the role of broad-scope trust in consumer financial services markets. Only a minority of US and European consumers are currently confident in financial companies and ‘financial stability’ and ‘trust’ are now among the top reasons for choosing a bank. This research seeks to address this shortcoming in the marketing literature by investigating direct and moderating effects of broad-scope trust on consumer financial behaviour. Specifically, we take an ability-effort approach to consumer financial behaviour. The ability-effort approach holds the basic premise that the quality of consumer actions is influenced by ability factors, for example consumer knowledge and cognitive effort. Our study is based on two surveys. Survey 1 comprises 1,155 bank consumers, whereas survey 2 comprises 764 pension consumers. The results indicate that broad-scope trust negatively moderates relationships between knowledge and financial healthiness and between cognitive effort and financial healthiness. In addition, it is demonstrated that broad-scope trust negatively influences cognitive effort. Specifically, the results suggest that broad-scope trust contributes to the financial well-being of consumers with limited financial knowledge and processing capabilities. Since financial companies are dependent on customers to pay their loans and bills they have a greater interest in developing relations with consumers with a healthy financial behaviour than with the opposite. Hence, financial managers should be engaged with monitoring and influencing broad-scope trust. To conclude, by taking into account the contextual effect of broad-scope trust, the present study adds to our understanding of knowledge-effort-behaviour relationship in consumer financial markets.Keywords: cognitive effort, customer-seller relationships, financial healthiness, knowledge, trust
Procedia PDF Downloads 4413612 Reallocation of Bed Capacity in a Hospital Combining Discrete Event Simulation and Integer Linear Programming
Authors: Muhammed Ordu, Eren Demir, Chris Tofallis
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The number of inpatient admissions in the UK has been significantly increasing over the past decade. These increases cause bed occupancy rates to exceed the target level (85%) set by the Department of Health in England. Therefore, hospital service managers are struggling to better manage key resource such as beds. On the other hand, this severe demand pressure might lead to confusion in wards. For example, patients can be admitted to the ward of another inpatient specialty due to lack of resources (i.e., bed). This study aims to develop a simulation-optimization model to reallocate the available number of beds in a mid-sized hospital in the UK. A hospital simulation model was developed to capture the stochastic behaviours of the hospital by taking into account the accident and emergency department, all outpatient and inpatient services, and the interactions between each other. A couple of outputs of the simulation model (e.g., average length of stay and revenue) were generated as inputs to be used in the optimization model. An integer linear programming was developed under a number of constraints (financial, demand, target level of bed occupancy rate and staffing level) with the aims of maximizing number of admitted patients. In addition, a sensitivity analysis was carried out by taking into account unexpected increases on inpatient demand over the next 12 months. As a result, the major findings of the approach proposed in this study optimally reallocate the available number of beds for each inpatient speciality and reveal that 74 beds are idle. In addition, the findings of the study indicate that the hospital wards will be able to cope with 14% demand increase at most in the projected year. In conclusion, this paper sheds a new light on how best to reallocate beds in order to cope with current and future demand for healthcare services.Keywords: bed occupancy rate, bed reallocation, discrete event simulation, inpatient admissions, integer linear programming, projected usage
Procedia PDF Downloads 1443611 Soil Moisture Control System: A Product Development Approach
Authors: Swapneel U. Naphade, Dushyant A. Patil, Satyabodh M. Kulkarni
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In this work, we propose the concept and geometrical design of a soil moisture control system (SMCS) module by following the product development approach to develop an inexpensive, easy to use and quick to install product targeted towards agriculture practitioners. The module delivers water to the agricultural land efficiently by sensing the soil moisture and activating the delivery valve. We start with identifying the general needs of the potential customer. Then, based on customer needs we establish product specifications and identify important measuring quantities to evaluate our product. Keeping in mind the specifications, we develop various conceptual solutions of the product and select the best solution through concept screening and selection matrices. Then, we develop the product architecture by integrating the systems into the final product. In the end, the geometric design is done using human factors engineering concepts like heuristic analysis, task analysis, and human error reduction analysis. The result of human factors analysis reveals the remedies which should be applied while designing the geometry and software components of the product. We find that to design the best grip in terms of comfort and applied force, for a power-type grip, a grip-diameter of 35 mm is the most ideal.Keywords: agriculture, human factors, product design, soil moisture control
Procedia PDF Downloads 1723610 Determination of the Oxidative Potential of Organic Materials: Method Development
Authors: Jui Afrin, Akhtarul Islam
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In this paper, the solution of glucose, yeast and glucose yeast mixture are being used as sample solution for determining the chemical oxygen demand (COD). In general COD determination method used to determine the different rang of oxidative potential. But in this work has shown to determine the definite oxidative potential for different concentration for known COD value and wanted to see the difference between experimental value and the theoretical value for evaluating the method drawbacks. In this study, made the values of oxidative potential like 400 mg/L, 500 mg/L, 600 mg/L, 700 mg/L and 800mg/L for various sample solutions and determined the oxidative potential according to our developed method. Plotting the experimental COD values vs. sample solutions of various concentrations in mg/L to draw the curve. From these curves see that the curves for glucose solution is not linear; its deviate from linearity for the lower concentration and the reason for this deviation is unknown. If these drawback can be removed this method can be effectively used to determine Oxidative Potential of Industrial wastewater (such as: Leather industry wastewater, Municipal wastewater, Food industry wastewater, Textile wastewater, Pharmaceuticals waste water) that’s why more experiment and study required.Keywords: bod (biological oxygen demand), cod (chemical oxygen demand), oxidative potential, titration, waste water, development
Procedia PDF Downloads 2303609 Dwelling in the Built Environment: The Resilience by Design in Modular Thinking toward an Adaptive Alternatives
Authors: Tzen-Ying Ling
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Recently, the resilience of dwellings in urban areas has been deliberated, as to accommodate the growing demand for changing the demography and rapid urbanization. The need to incorporate sustainability and cleaner production thinking have intensified to mitigate climate risks and satisfy the demand for housing. The modular thinking satisfies both the pressing call for fast-tracked housing stocks; while meeting the goal of more sustainable production. In the other side, the importance of the dwelling as a podium for well-being and social connectedness are sought to explore the key human/environment design thinking for the modular system in dwelling. We argue the best practice incorporates the concept of systemic components thinking. The fieldwork reported in this paper illustrates the process of the case study in a modular dwelling unit prototype development; focusing on the systemic frame system design process and adjustment recommendation hereafter. Using a case study method, the study identified that: (1) inclusive human dimensional factoring through systemic design thinking results in affordable implementations possibilities. (2) The environmental dimension encourages the place-based solution suited for the locality and the increasing demand for dwelling in the urban system. (3) Prototype design consideration avails module system component as dwelling construction alternative. (4) Building code often acts as an inhibitor for such dwelling units by the restriction in lot sizes and units placement. The demand for fast-track dwelling construction and cleaner production decisively outweighs the code inhibition; we further underscored the sustainability implication of the alternative prototype as the core of this study. The research suggests that modular thinking results in a resilient solution suited for the locality and the increasing demand for dwelling in the urban system.Keywords: system prototype, urban resilience, human/environment dimension, modular thinking, dwelling alternative
Procedia PDF Downloads 1753608 Development of the Accelerator Applied to an Early Stage High-Strength Shotcrete
Authors: Ayanori Sugiyama, Takahisa Hanei, Yasuhide Higo
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Domestic demand for the construction of tunnels has been increasing in recent years in Japan. To meet this demand, various construction materials and construction methods have been developed to attain higher strength, reduction of negative impact on the environment and improvement for working conditions. In this report, we would like to introduce the newly developed shotcrete with superior hardening properties which were tested through the actual machine scale and its workability and strength development were evaluated. As a result, this new tunnel construction method was found to achieve higher workability and quicker strength development in only a couple of minutes.Keywords: accelerator, shotcrete, tunnel, high-strength
Procedia PDF Downloads 3183607 Deep Reinforcement Learning for Advanced Pressure Management in Water Distribution Networks
Authors: Ahmed Negm, George Aggidis, Xiandong Ma
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With the diverse nature of urban cities, customer demand patterns, landscape topologies or even seasonal weather trends; managing our water distribution networks (WDNs) has proved a complex task. These unpredictable circumstances manifest as pipe failures, intermittent supply and burst events thus adding to water loss, energy waste and increased carbon emissions. Whilst these events are unavoidable, advanced pressure management has proved an effective tool to control and mitigate them. Henceforth, water utilities have struggled with developing a real-time control method that is resilient when confronting the challenges of water distribution. In this paper we use deep reinforcement learning (DRL) algorithms as a novel pressure control strategy to minimise pressure violations and leakage under both burst and background leakage conditions. Agents based on asynchronous actor critic (A2C) and recurrent proximal policy optimisation (Recurrent PPO) were trained and compared to benchmarked optimisation algorithms (differential evolution, particle swarm optimisation. A2C manages to minimise leakage by 32.48% under burst conditions and 67.17% under background conditions which was the highest performance in the DRL algorithms. A2C and Recurrent PPO performed well in comparison to the benchmarks with higher processing speed and lower computational effort.Keywords: deep reinforcement learning, pressure management, water distribution networks, leakage management
Procedia PDF Downloads 933606 Disequilibrium between the Demand and Supply of Teachers of English at the Junior Secondary Schools in Gashua, Yobe State: Options for 2015 and Beyond
Authors: Clifford Irikefe Gbeyonron
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The Nigerian educational system, which has English language as a major medium of instruction, has been designed in such a way that the cognitive, psychomotor and affective endowments of the Nigerian learner could be explored. However, the human resources that would impart the desired knowledge, skills and values in the learners seem to be in short supply. This paucity is more manifest in the area of teachers of English. As a result, this research was conducted on the demand and supply of teachers of English at the junior secondary schools in Gashua, Yobe State. The results indicate that there was dearth of teachers of English the domain under review. This thus presents a challenge that should propel English language teacher education industries to produce more teachers of English. As a result, this paper recommends that the teacher production process should make use of qualified and enthusiastic teacher trainers that would be able to inculcate in-depth linguistic and communicative competence of English language and English language teaching skills in the potential teachers of English. In addition, English language education service providers should attract and retain the trained teachers of English in the business of English language teaching in such a way that all the states of Nigeria could experience educational development.Keywords: demand, supply, teachers of English, Yobe State
Procedia PDF Downloads 3753605 Development of a Technology Assessment Model by Patents and Customers' Review Data
Authors: Kisik Song, Sungjoo Lee
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Recent years have seen an increasing number of patent disputes due to excessive competition in the global market and a reduced technology life-cycle; this has increased the risk of investment in technology development. While many global companies have started developing a methodology to identify promising technologies and assess for decisions, the existing methodology still has some limitations. Post hoc assessments of the new technology are not being performed, especially to determine whether the suggested technologies turned out to be promising. For example, in existing quantitative patent analysis, a patent’s citation information has served as an important metric for quality assessment, but this analysis cannot be applied to recently registered patents because such information accumulates over time. Therefore, we propose a new technology assessment model that can replace citation information and positively affect technological development based on post hoc analysis of the patents for promising technologies. Additionally, we collect customer reviews on a target technology to extract keywords that show the customers’ needs, and we determine how many keywords are covered in the new technology. Finally, we construct a portfolio (based on a technology assessment from patent information) and a customer-based marketability assessment (based on review data), and we use them to visualize the characteristics of the new technologies.Keywords: technology assessment, patents, citation information, opinion mining
Procedia PDF Downloads 4663604 Microeconomic Consequences of the Housing Market Deformation in the Selected Region of the Czech Republic
Authors: Hana Janáčková
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Housing can be sorted as basic needs of households. Purchase of acceptable ownership housing is important investments for most them. For rental housing households must consider the part of rent expenditure paid in the total household income. For this reason, financial considerations of households in this area depend on the government innervations (public administration) in housing - on housing policy. Market system of housing allocation, whether ownership or tenancy, is based on the fact that housing is a scarce good. The allocation of housing is based on demand and supply. The market system of housing can sometimes have a negative impact on some households, the market is unable to satisfy certain groups of the population that are not able or willing to accept market price. For these reasons, there is a more or less regulation of the market. Regulation is both on the demand and supply side, and the state determines the rules of behaviour for all economic entities of the housing market. This article submits results of analysis of selected regulatory interference of the state in the housing market and assesses their implications deforming the market in the selected region of the Czech Republic. The first part describes tools of supports and the second part discusses deformations and analyses their consequences on the demand side of housing market and on supply side.Keywords: housing, housing market, microeconomic consequences, deformation
Procedia PDF Downloads 4013603 Analysis of the Production Time in a Pharmaceutical Company
Authors: Hanen Khanchel, Karim Ben Kahla
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Pharmaceutical companies are facing competition. Indeed, the price differences between competing products can be such that it becomes difficult to compensate them by differences in value added. The conditions of competition are no longer homogeneous for the players involved. The price of a product is a given that puts a company and its customer face to face. However, price fixing obliges the company to consider internal factors relating to production costs and external factors such as customer attitudes, the existence of regulations and the structure of the market on which the firm evolved. In setting the selling price, the company must first take into account internal factors relating to its costs: costs of production fall into two categories, fixed costs and variable costs that depend on the quantities produced. The company cannot consider selling below what it costs the product. It, therefore, calculates the unit cost of production to which it adds the unit cost of distribution, enabling it to know the unit cost of production of the product. The company adds its margin and thus determines its selling price. The margin is used to remunerate the capital providers and to finance the activity of the company and its investments. Production costs are related to the quantities produced: large-scale production generally reduces the unit cost of production, which is an asset for companies with mass production markets. This shows that small and medium-sized companies with limited market segments need to make greater efforts to ensure their profit margins. As a result, and faced with high and low market prices for raw materials and increasing staff costs, the company must seek to optimize its production time in order to reduce loads and eliminate waste. Then, the customer pays only value added. Thus, and based on this principle we decided to create a project that deals with the problem of waste in our company, and having as objectives the reduction of production costs and improvement of performance indicators. This paper presents the implementation of the Value Stream Mapping (VSM) project in a pharmaceutical company. It is structured as follows: 1) determination of the family of products, 2) drawing of the current state, 3) drawing of the future state, 4) action plan and implementation.Keywords: VSM, waste, production time, kaizen, cartography, improvement
Procedia PDF Downloads 1513602 Design of a Customized Freshly-Made Fruit Salad and Juices Vending Machine
Authors: María Laura Guevara Campos
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The increasing number of vending machines makes it easy for people to find them more frequently in stores, universities, workplaces, and even hospitals. These machines usually offer products with high contents of sugar and fat, which, if consumed regularly, can result in serious health threats, as overweight and obesity. Additionally, the energy consumption of these machines tends to be high, which has an impact on the environment as well. In order to promote the consumption of healthy food, a vending machine was designed to give the customer the opportunity to choose between a customized fruit salad and a customized fruit juice, both of them prepared instantly with the ingredients selected by the customer. The main parameters considered to design the machine were: the storage of the preferred fruits in a salad and/or in a juice according to a survey, the size of the machine, the use of ecologic recipients, and the overall energy consumption. The methodology used for the design was the one proposed by the German Association of Engineers for mechatronics systems, which breaks the design process in several stages, from the elaboration of a list of requirements through the establishment of the working principles and the design concepts to the final design of the machine, which was done in a 3D modelling software. Finally, with the design of this machine, the aim is to contribute to the development and implementation of healthier vending machines that offer freshly-made products, which is not being widely attended at present.Keywords: design, design methodology, mechatronics systems, vending machines
Procedia PDF Downloads 1333601 Research on the Status Quo and Countermeasures of Professional Development of Engineering Teachers in China
Authors: Wang Xiu Xiu
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The professional development of engineering teachers in universities is the key to the construction of outstanding engineers in China, which is related to the quality and prospects of the entire engineering education. This study investigated 2789 teachers' professional development in different regions of China, which outlines the current situation of the professional development of engineering teachers from three perspectives: professional development needs, professional development methods and professional development effects. Data results show that engineering teachers have the strongest demand for the improvement of subject knowledge and teaching ability. Engineering faculty with 0-5 years of teaching experience, under 35 years of age and a doctorate degree have the strongest demand for development. The frequency of engineering teachers' participation in various professional development activities is low, especially in school-enterprise cooperation-related activities. There are significant differences in the participation frequency of professional development activities among engineering faculty with different teaching ages, ages, professional titles, degrees and administrative positions in schools. The professional development of engineering faculty has been improved to a certain extent and is positively affected by professional development needs and participation in professional development. In this regard, we can constantly improve the professional development system of engineering teachers from three aspects: training on demand, stimulating motivation, and optimizing resource allocation, to enhance the professional development level of engineering teachers.Keywords: engineering teachers in universities, professional development, status quo, countermeasures
Procedia PDF Downloads 213600 Conceptual Study on 4PL and Activities in Turkey
Authors: Berna Kalkan, Kenan Aydin
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Companies give importance customer satisfaction to compete the developing and changing market. This is possible when customer reaches the right product, right quality, place, time and cost. In this regard, the extension of logistics services has played active role on formation and development of the different logistics services concept. The concept of logistics services has played important role involved in the healing of economic indicators today. Companies can use logistics providers, thus have competitive advantage and low cost, reducing time, tobe flexibility. In recent years, Fourth Party Logistics (4PL) has emerged as a new concept that includes relationship between suppliers and firms in outsourcing. 4PL provider is an integrator that offers comprehensive supply chain solutions with the technology, resources and capabilities that it possesses. Also, 4PL has attracted as a popular research topic attention in the recent past. In this paper, logistics outsourcing and 4PL concepts are analyzed and a literature review on 4PL activities is given. Also, the previous studies in literature and the approaches that are used in previous studies in literature is presented by analysing on 4PL activities. In this context, a field study will be applied to 4PL providers and service buyer in Turkey. If necessary, results related to this study will be shared in scientific areas.Keywords: fourth party logistics, literature review, outsourcing, supply chain management
Procedia PDF Downloads 1783599 Factors Influencing Household Expenditure Patterns on Cereal Grains in Nasarawa State, Nigeria
Authors: E. A. Ojoko, G. B. Umbugadu
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This study aims at describing the expenditure pattern of households on millet, maize and sorghum across income groups in Nasarawa State. A multi-stage sampling technique was used to select a sample size of 316 respondents for the study. The Almost Ideal Demand System (AIDS) model was adopted in this study. Results from the study shows that the average household size was five persons with dependency ratio of 52 %, which plays an important role on the household’s expenditure pattern by increasing the household budget share. On the average 82 % were male headed households with an average age of 49 years and 13 years of formal education. Results on expenditure share show that maize has the highest expenditure share of 38 % across the three income groups and that most of the price effects are significantly different from zero at 5 % significant level. This shows that the low price of maize increased its demand as compared to other cereals. Household size and age of household members are major factors affecting the demand for cereals in the study. This agrees with the fact that increased household population (size) will bring about increase consumption. The results on factors influencing preferences for cereal grains reveals that cooking quality and appearance (65.7 %) were the most important factors affecting the demand for maize in the study area. This study recommends that cereal crop production should be prioritized in government policies and farming activities that help to boost food security and alleviate poverty should be subsidized.Keywords: expenditure pattern, AIDS model, budget share, price cereal grains and consumption
Procedia PDF Downloads 1963598 Impact of the Hayne Royal Commission on the Operating Model of Australian Financial Advice Firms
Authors: Mohammad Abu-Taleb
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The final report of the Royal Commission into Australian financial services misconduct, released in February 2019, has had a significant impact on the financial advice industry. The recommendations released in the Commissioner’s final report include changes to ongoing fee arrangements, a new disciplinary system for financial advisers, and mandatory reporting of compliance concerns. This thesis aims to explore the impact of the Royal Commission’s recommendations on the operating model of financial advice firms in terms of advice products, processes, delivery models, and customer segments. Also, this research seeks to investigate whether the Royal Commission’s outcome has accelerated the use of enhanced technology solutions within the operating model of financial advice firms. And to identify the key challenges confronting financial advice firms whilst implementing the Commissioner’s recommendations across their operating models. In order to achieve the objectives of this thesis, a qualitative research design has been adopted through semi-structured in-depth interviews with 24 financial advisers and managers who are engaged in the operation of financial advice services. The study used the thematic analysis approach to interpret the qualitative data collected from the interviews. The findings of this thesis reveal that customer-centric operating models will become more prominent across the financial advice industry in response to the Commissioner’s final report. And the Royal Commission’s outcome has accelerated the use of advice technology solutions within the operating model of financial advice firms. In addition, financial advice firms have started more than before using simpler and more automated web-based advice services, which enable financial advisers to provide simple advice in a greater scale, and also to accelerate the use of robo-advice models and digital delivery to mass customers in the long term. Furthermore, the study identifies process and technology changes as, long with technical and interpersonal skills development, as the key challenges encountered financial advice firms whilst implementing the Commissioner’s recommendations across their operating models.Keywords: hayne royal commission, financial planning advice, operating model, advice products, advice processes, delivery models, customer segments, digital advice solutions
Procedia PDF Downloads 883597 Seismic Loss Assessment for Peruvian University Buildings with Simulated Fragility Functions
Authors: Jose Ruiz, Jose Velasquez, Holger Lovon
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Peruvian university buildings are critical structures for which very little research about its seismic vulnerability is available. This paper develops a probabilistic methodology that predicts seismic loss for university buildings with simulated fragility functions. Two university buildings located in the city of Cusco were analyzed. Fragility functions were developed considering seismic and structural parameters uncertainty. The fragility functions were generated with the Latin Hypercube technique, an improved Montecarlo-based method, which optimizes the sampling of structural parameters and provides at least 100 reliable samples for every level of seismic demand. Concrete compressive strength, maximum concrete strain and yield stress of the reinforcing steel were considered as the key structural parameters. The seismic demand is defined by synthetic records which are compatible with the elastic Peruvian design spectrum. Acceleration records are scaled based on the peak ground acceleration on rigid soil (PGA) which goes from 0.05g to 1.00g. A total of 2000 structural models were considered to account for both structural and seismic variability. These functions represent the overall building behavior because they give rational information regarding damage ratios for defined levels of seismic demand. The university buildings show an expected Mean Damage Factor of 8.80% and 19.05%, respectively, for the 0.22g-PGA scenario, which was amplified by the soil type coefficient and resulted in 0.26g-PGA. These ratios were computed considering a seismic demand related to 10% of probability of exceedance in 50 years which is a requirement in the Peruvian seismic code. These results show an acceptable seismic performance for both buildings.Keywords: fragility functions, university buildings, loss assessment, Montecarlo simulation, latin hypercube
Procedia PDF Downloads 1443596 Maximum Deformation Estimation for Reinforced Concrete Buildings Using Equivalent Linearization Method
Authors: Chien-Kuo Chiu
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In the displacement-based seismic design and evaluation, equivalent linearization method is one of the approximation methods to estimate the maximum inelastic displacement response of a system. In this study, the accuracy of two equivalent linearization methods are investigated. The investigation consists of three soil condition in Taiwan (Taipei Basin 1, 2, and 3) and five different heights of building (H_r= 10, 20, 30, 40, and 50 m). The first method is the Taiwan equivalent linearization method (TELM) which was proposed based on Japanese equivalent linear method considering the modification factor, α_T= 0.85. On the basis of Lin and Miranda study, the second method is proposed with some modification considering Taiwan soil conditions. From this study, it is shown that Taiwanese equivalent linearization method gives better estimation compared to the modified Lin and Miranda method (MLM). The error index for the Taiwanese equivalent linearization method are 16%, 13%, and 12% for Taipei Basin 1, 2, and 3, respectively. Furthermore, a ductility demand spectrum of single-degree-of-freedom (SDOF) system is presented in this study as a guide for engineers to estimate the ductility demand of a structure.Keywords: displacement-based design, ductility demand spectrum, equivalent linearization method, RC buildings, single-degree-of-freedom
Procedia PDF Downloads 1623595 Shared Versus Pooled Automated Vehicles: Exploring Behavioral Intentions Towards On-Demand Automated Vehicles
Authors: Samira Hamiditehrani
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Automated vehicles (AVs) are emerging technologies that could potentially offer a wide range of opportunities and challenges for the transportation sector. The advent of AV technology has also resulted in new business models in shared mobility services where many ride hailing and car sharing companies are developing on-demand AVs including shared automated vehicles (SAVs) and pooled automated vehicles (Pooled AVs). SAVs and Pooled AVs could provide alternative shared mobility services which encourage sustainable transport systems, mitigate traffic congestion, and reduce automobile dependency. However, the success of on-demand AVs in addressing major transportation policy issues depends on whether and how the public adopts them as regular travel modes. To identify conditions under which individuals may adopt on-demand AVs, previous studies have applied human behavior and technology acceptance theories, where Theory of Planned Behavior (TPB) has been validated and is among the most tested in on-demand AV research. In this respect, this study has three objectives: (a) to propose and validate a theoretical model for behavioral intention to use SAVs and Pooled AVs by extending the original TPB model; (b) to identify the characteristics of early adopters of SAVs, who prefer to have a shorter and private ride, versus prospective users of Pooled AVs, who choose more affordable but longer and shared trips; and (c) to investigate Canadians’ intentions to adopt on-demand AVs for regular trips. Toward this end, this study uses data from an online survey (n = 3,622) of workers or adult students (18 to 75 years old) conducted in October and November 2021 for six major Canadian metropolitan areas: Toronto, Vancouver, Ottawa, Montreal, Calgary, and Hamilton. To accomplish the goals of this study, a base bivariate ordered probit model, in which both SAV and Pooled AV adoptions are estimated as ordered dependent variables, alongside a full structural equation modeling (SEM) system are estimated. The findings of this study indicate that affective motivations such as attitude towards AV technology, perceived privacy, and subjective norms, matter more than sociodemographic and travel behavior characteristic in adopting on-demand AVs. Also, the results of second objective provide evidence that although there are a few affective motivations, such as subjective norms and having ample knowledge, that are common between early adopters of SAVs and PooledAVs, many examined motivations differ among SAV and Pooled AV adoption factors. In other words, motivations influencing intention to use on-demand AVs differ among the service types. Likewise, depending on the types of on-demand AVs, the sociodemographic characteristics of early adopters differ significantly. In general, findings paint a complex picture with respect to the application of constructs from common technology adoption models to the study of on-demand AVs. Findings from the final objective suggest that policymakers, planners, the vehicle and technology industries, and the public at large should moderate their expectations that on-demand AVs may suddenly transform the entire transportation sector. Instead, this study suggests that SAVs and Pooled AVs (when they entire the Canadian market) are likely to be adopted as supplementary mobility tools rather than substitutions for current travel modesKeywords: automated vehicles, Canadian perception, theory of planned behavior, on-demand AVs
Procedia PDF Downloads 743594 Optimizing Electric Vehicle Charging Networks with Dynamic Pricing and Demand Elasticity
Authors: Chiao-Yi Chen, Dung-Ying Lin
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With the growing awareness of environmental protection and the implementation of government carbon reduction policies, the number of electric vehicles (EVs) has rapidly increased, leading to a surge in charging demand and imposing significant challenges on the existing power grid’s capacity. Traditional urban power grid planning has not adequately accounted for the additional load generated by EV charging, which often strains the infrastructure. This study aims to optimize grid operation and load management by dynamically adjusting EV charging prices based on real-time electricity supply and demand, leveraging consumer demand elasticity to enhance system efficiency. This study uniquely addresses the intricate interplay between urban traffic patterns and power grid dynamics in the context of electric vehicle (EV) adoption. By integrating Hsinchu City's road network with the IEEE 33-bus system, the research creates a comprehensive model that captures both the spatial and temporal aspects of EV charging demand. This approach allows for a nuanced analysis of how traffic flow directly influences the load distribution across the power grid. The strategic placement of charging stations at key nodes within the IEEE 33-bus system, informed by actual road traffic data, enables a realistic simulation of the dynamic relationship between vehicle movement and energy consumption. This integration of transportation and energy systems provides a holistic view of the challenges and opportunities in urban EV infrastructure planning, highlighting the critical need for solutions that can adapt to the ever-changing interplay between traffic patterns and grid capacity. The proposed dynamic pricing strategy effectively reduces peak charging loads, enhances the operational efficiency of charging stations, and maximizes operator profits, all while ensuring grid stability. These findings provide practical insights and a valuable framework for optimizing EV charging infrastructure and policies in future smart cities, contributing to more resilient and sustainable urban energy systems.Keywords: dynamic pricing, demand elasticity, EV charging, grid load balancing, optimization
Procedia PDF Downloads 233593 Innovating Electronics Engineering for Smart Materials Marketing
Authors: Muhammad Awais Kiani
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The field of electronics engineering plays a vital role in the marketing of smart materials. Smart materials are innovative, adaptive materials that can respond to external stimuli, such as temperature, light, or pressure, in order to enhance performance or functionality. As the demand for smart materials continues to grow, it is crucial to understand how electronics engineering can contribute to their marketing strategies. This abstract presents an overview of the role of electronics engineering in the marketing of smart materials. It explores the various ways in which electronics engineering enables the development and integration of smart features within materials, enhancing their marketability. Firstly, electronics engineering facilitates the design and development of sensing and actuating systems for smart materials. These systems enable the detection and response to external stimuli, providing valuable data and feedback to users. By integrating sensors and actuators into materials, their functionality and performance can be significantly enhanced, making them more appealing to potential customers. Secondly, electronics engineering enables the creation of smart materials with wireless communication capabilities. By incorporating wireless technologies such as Bluetooth or Wi-Fi, smart materials can seamlessly interact with other devices, providing real-time data and enabling remote control and monitoring. This connectivity enhances the marketability of smart materials by offering convenience, efficiency, and improved user experience. Furthermore, electronics engineering plays a crucial role in power management for smart materials. Implementing energy-efficient systems and power harvesting techniques ensures that smart materials can operate autonomously for extended periods. This aspect not only increases their market appeal but also reduces the need for constant maintenance or battery replacements, thus enhancing customer satisfaction. Lastly, electronics engineering contributes to the marketing of smart materials through innovative user interfaces and intuitive control mechanisms. By designing user-friendly interfaces and integrating advanced control systems, smart materials become more accessible to a broader range of users. Clear and intuitive controls enhance the user experience and encourage wider adoption of smart materials in various industries. In conclusion, electronics engineering significantly influences the marketing of smart materials by enabling the design of sensing and actuating systems, wireless connectivity, efficient power management, and user-friendly interfaces. The integration of electronics engineering principles enhances the functionality, performance, and marketability of smart materials, making them more adaptable to the growing demand for innovative and connected materials in diverse industries.Keywords: electronics engineering, smart materials, marketing, power management
Procedia PDF Downloads 593592 Anti-crisis Public Relations and Aspects of Effective Management in Georgian Companies
Authors: Marine Kobalava
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Introduction. The paper substantiates the crucial role of anti-crisis PR in managing the image and reputation of companies. The critical situation caused by the Covid-19 virus in various countries of the world and the actions taken have had a significant negative impact on the image of companies and public groups. The mentioned circumstance has caused some problems for companies’ products in terms of customer demand. Accordingly, the main goal of PR has become to achieve the optimal relationship between companies and society with effective management. It should also be taken into account that the range of action of PR in crisis situations is much wider than that of advertising. In the paper, Public Relations is evaluated as a determining factor of the companies' prestige, its reliability, which has a decisive effect on the goodwill, trust, and general reputation of the public towards the company. The purpose of the study is to reveal the challenges of anti-crisis PR in Georgian companies and to develop recommendations on effective management mechanisms. Methodologies. Analysis, induction, synthesis, and other methods are used in the paper; Matrix and SWOT analysis are constructed. Ways of establishing and implementing an anti-crisis PR system in companies are proposed. The main aspects of anti-crisis management are identified by using the matrix of the choice of diversification strategy of the companies' activities, the possibilities of making adequate decisions using PR are studied according to the characteristics of the companies' activities and priority directions. Conclusion. The paper draws conclusions on modern problems of anti-crisis PR, offers recommendations on ways to solve it through PR strategies.Keywords: anti-crisis PR, effective management, company, PR strategy
Procedia PDF Downloads 813591 Implementation-Specific Obstacles and Measures for Chatbots in B2B Business
Authors: Daniela Greven, Kathrin Endres, Shugana Sundralingam
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The use of chatbots has hardly been established in B2B companies to date and involves various challenges. The goal of this paper is to identify the biggest obstacles to the successful implementation of chatbots in B2B companies and to develop measures to overcome them. The obstacles are identified by conducting expert interviews within the framework of Eisenhardt's case study research. These are examined through a socio-technical analysis focusing on people, technology, and organization. By means of systematic literature research and in-depth interviews with German chatbot providers and customers of chatbots, measures for overcoming the obstacles are identified. Using interviews with experts from German chatbot providers, the responsible stakeholders of each measure according to the RASCI Responsibility Matrix are identified. The study shows that there are major obstacles in all areas of a socio-technical system that can cause the implementation of a chatbot to fail. A total of 44 implementation obstacles and 58 measures to overcome these obstacles are identified. The study shows that there are major obstacles in the areas of people, technology, and organization of a socio-technical system that can cause the implementation of a chatbot to fail. A holistic view is therefore essential. The results provide firms with a guideline on how to overcome potential obstacles during chatbot implementation in B2B customer service.Keywords: chatbots, socio-technical analysis, B2B customer service, implementation success factors
Procedia PDF Downloads 963590 Evaluation of Regional On-Demand Service Capability and Key Influencing Factors for Low Earth Orbit Mega-Constellations
Authors: Shaohui Gong, Cheng Zhu, Yun Zhou, Weiming Zhang
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Low Earth Orbit (LEO) mega-constellations are poised to become crucial future infrastructure, providing dynamically configurable communication, navigation, remote sensing, and other services. The rapid deployment of these constellations has spurred an increasing focus on their regional service applications. This paper addresses this need by introducing a Payload Unit Service Capability Indicator (PUSCI), which quantifies the average service capacity that a single payload unit provides to a fixed-size ground area within the minimum service time, considering time, space, and performance dimensions. Using PUSCI, a framework is developed for evaluating the on-demand service capability of mega-constellations within specific regions. This framework divides the target region into Geographic Service Units (GSUs), defined by the size and shape of individual payload unit coverage. The method of employing time snapshots is used to determine satellite-ground coverage. PUSCI serves as the smallest unit of service acquisition for a GSU. By incorporating payload service rules, multi-satellite collaboration rules, and multi-satellite payload resource allocation rules, the framework assesses service demand satisfaction for each GSU, thereby evaluating overall regional service levels and fairness. This framework is applied to evaluate the on-demand service capability of regional communication services in mega-constellations, utilizing simulations to analyze key influencing factors. The results demonstrate that multi-satellite collaboration rules significantly impact regional service capability, with load-balancing strategies yielding superior performance. The multi-satellite payload resource allocation rules primarily affect service fairness, while GSU service demand is the main determinant of resource acquisition. Furthermore, the demands of neighboring GSUs influence service availability, highlighting the significant impact of ground demand distribution on overall mega-constellation performance. This PUSCI-based framework provides a quantitative tool for understanding and optimizing regional service capabilities in mega-constellations, offering substantial practical value.Keywords: LEO mega-constellations, regional service, payload unit service capability indicator, capability evaluating, key influencing factors, simulations
Procedia PDF Downloads 83589 The Optimal Order Policy for the Newsvendor Model under Worker Learning
Authors: Sunantha Teyarachakul
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We consider the worker-learning Newsvendor Model, under the case of lost-sales for unmet demand, with the research objective of proposing the cost-minimization order policy and lot size, scheduled to arrive at the beginning of the selling-period. In general, the New Vendor Model is used to find the optimal order quantity for the perishable items such as fashionable products or those with seasonal demand or short-life cycles. Technically, it is used when the product demand is stochastic and available for the single selling-season, and when there is only a one time opportunity for the vendor to purchase, with possibly of long ordering lead-times. Our work differs from the classical Newsvendor Model in that we incorporate the human factor (specifically worker learning) and its influence over the costs of processing units into the model. We describe this by using the well-known Wright’s Learning Curve. Most of the assumptions of the classical New Vendor Model are still maintained in our work, such as the constant per-unit cost of leftover and shortage, the zero initial inventory, as well as the continuous time. Our problem is challenging in the way that the best order quantity in the classical model, which is balancing the over-stocking and under-stocking costs, is no longer optimal. Specifically, when adding the cost-saving from worker learning to such expected total cost, the convexity of the cost function will likely not be maintained. This has called for a new way in determining the optimal order policy. In response to such challenges, we found a number of characteristics related to the expected cost function and its derivatives, which we then used in formulating the optimal ordering policy. Examples of such characteristics are; the optimal order quantity exists and is unique if the demand follows a Uniform Distribution; if the demand follows the Beta Distribution with some specific properties of its parameters, the second derivative of the expected cost function has at most two roots; and there exists the specific level of lot size that satisfies the first order condition. Our research results could be helpful for analysis of supply chain coordination and of the periodic review system for similar problems.Keywords: inventory management, Newsvendor model, order policy, worker learning
Procedia PDF Downloads 4173588 Forecasting Thermal Energy Demand in District Heating and Cooling Systems Using Long Short-Term Memory Neural Networks
Authors: Kostas Kouvaris, Anastasia Eleftheriou, Georgios A. Sarantitis, Apostolos Chondronasios
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To achieve the objective of almost zero carbon energy solutions by 2050, the EU needs to accelerate the development of integrated, highly efficient and environmentally friendly solutions. In this direction, district heating and cooling (DHC) emerges as a viable and more efficient alternative to conventional, decentralized heating and cooling systems, enabling a combination of more efficient renewable and competitive energy supplies. In this paper, we develop a forecasting tool for near real-time local weather and thermal energy demand predictions for an entire DHC network. In this fashion, we are able to extend the functionality and to improve the energy efficiency of the DHC network by predicting and adjusting the heat load that is distributed from the heat generation plant to the connected buildings by the heat pipe network. Two case-studies are considered; one for Vransko, Slovenia and one for Montpellier, France. The data consists of i) local weather data, such as humidity, temperature, and precipitation, ii) weather forecast data, such as the outdoor temperature and iii) DHC operational parameters, such as the mass flow rate, supply and return temperature. The external temperature is found to be the most important energy-related variable for space conditioning, and thus it is used as an external parameter for the energy demand models. For the development of the forecasting tool, we use state-of-the-art deep neural networks and more specifically, recurrent networks with long-short-term memory cells, which are able to capture complex non-linear relations among temporal variables. Firstly, we develop models to forecast outdoor temperatures for the next 24 hours using local weather data for each case-study. Subsequently, we develop models to forecast thermal demand for the same period, taking under consideration past energy demand values as well as the predicted temperature values from the weather forecasting models. The contributions to the scientific and industrial community are three-fold, and the empirical results are highly encouraging. First, we are able to predict future thermal demand levels for the two locations under consideration with minimal errors. Second, we examine the impact of the outdoor temperature on the predictive ability of the models and how the accuracy of the energy demand forecasts decreases with the forecast horizon. Third, we extend the relevant literature with a new dataset of thermal demand and examine the performance and applicability of machine learning techniques to solve real-world problems. Overall, the solution proposed in this paper is in accordance with EU targets, providing an automated smart energy management system, decreasing human errors and reducing excessive energy production.Keywords: machine learning, LSTMs, district heating and cooling system, thermal demand
Procedia PDF Downloads 1433587 Challenges of Domestic Water Security for Sustainable Development in North Central Belt of Nigeria
Authors: Samuel Ibbi Ibrahim, Isaiah Ndalassan Ibrahim
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Accessibility and availability of good quality water have become a major concern among different users. This paper examines the caustic importance of water security in relation to people’s desire for survival. It observed the democratic ideology of national policy on domestic water supply and demand and its implementation for national and societal development. It used analogy on equilibrium approach to ascertain the household water security. In most communities, it is glaring that several public water management in operation for several years are hardly performing efficiently to reach equilibrium demand. Moreover most settlements being rural or urban lack effective public water system that could ensure regular supplies to the population. The terrain and gradual declining of efficient rainfall northward poses great challenge to the region in managing water supply and demand adequately. This study itemized the need for the government to get clear strategy for a sustainable development on better water efficiency. Partnership in providing workable policy on water security is considered apparently important. It is also suggested that water plant treatment should be established in every medium-sized towns in the country.Keywords: good quality of water, water accessibility, water availability, water sustainable
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