Search results for: product life-cycle

Authors: Roger L. Goodwin

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The US Consumer Price Indices (CPIs) measures hundreds of items in the US economy. Many social programs and government benefits index to the CPIs. In mid to late 1990, much research went into changes to the CPI by a Congressional Advisory Committee. One thing can be said from the research is that, aside from there are alternative estimators for the CPI; any fundamental change to the CPI will affect many government programs. The purpose of this project is to modernize an existing process. This paper will show the development of a small, visual, software product that documents the Economic Price Adjustment (EPA) for long-term contracts. The existing workbook does not provide the flexibility to calculate EPAs where the base-month and the option-month are different. Nor does the workbook provide automated error checking. The small, visual, software product provides the additional flexibility and error checking. This paper presents the feedback to project.

Keywords: Consumer Price Index, Economic Price Adjustment, contracts, visualization tools, database, reports, forms, event procedures

Procedia PDF Downloads 317

Authors: Somdech Rungsrisawas

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The objectives of this study are to examine the relationship between the competitive advantage of small and medium enterprises (SMEs) and their overall performance. A mixed method has been applied to identify the effect of determinants toward competitive advantage. The sample is composed of SMEs in product and service businesses. The study has been tested at an organizational level with samples of SME entrepreneurs, business successors, and board of directors or management team. Quantitative analysis has been conducted through multiple regression analysis with 400 samples. The findings illustrate that each aspect of competitive advantage needs a different set of driving factors to explain either the direct or the indirect effect on firm performance. Interestingly, technological capability is a perfect mediator and interorganizational cooperation toward competitive advantage. In addition, differentiation is difficult to be perceived by customers, as well as difficult to manage; however, it is considered important to develop an SMEs product or service for firm sustainably.

Keywords: competitive advantage, firm performance, technological capability, Small and Medium Enterprise (SMEs)

Procedia PDF Downloads 297

Authors: Mohd Javaid, Shahbaz Khan, Abid Haleem

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Purpose: Large numbers of 3D printing technologies are now available for sophisticated applications in different fields. Additive manufacturing has established its dominance in design, development, and customisation of the product. In the era of developing technologies, there is a need to identify the appropriate technology for different application. In order to fulfil this need, two widely used printing technologies such as Fused Deposition Modeling (FDM), and Binding-Jet 3D Printing are compared for effective utilisation in the current scenario for different applications. Methodology: Systematic literature review conducted for both technologies with applications and associated factors enabling for the same. Appropriate MCDM tool is used to compare critical factors for both the technologies. Findings: Both technologies have their potential and capabilities to provide better direction to the industry. Additionally, this paper is helpful to develop a decision support system for the proper selection of technologies according to their continuum of applications and associated research and development capability. The vital issue is raw materials, and research-based material development is key to the sustainability of the developed technologies. FDM is a low-cost technology which provides high strength product as compared to binding jet technology. Researcher and companies can take benefits of this study to achieve the required applications in lesser resources. Limitations: Study has undertaken the comparison with the opinion of experts, which may not always be free from bias, and some own limitations of each technology. Originality: Comparison between these technologies will help to identify best-suited technology as per the customer requirements. It also provides development in this different field as per their extensive capability where these technologies can be successfully adopted. Conclusion: FDM and binding jet technology play an active role in industrial development. These help to assist the customisation and production of personalised parts cost-effectively. So, there is a need to understand how these technologies can provide these developments rapidly. These technologies help in easy changes or in making revised versions of the product, which is not easily possible in the conventional manufacturing system. High machine cost, the requirement of skilled human resources, low surface finish, and mechanical strength of product and material changing option is the main limitation of this technology. However, these limitations vary from technology to technology. In the future, these technologies are to be commercially viable for efficient usage in direct manufacturing of varied parts.

Keywords: 3D printing, comparison, fused deposition modeling, FDM, binding jet technology

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Authors: Elisaveta Doncheva, Jelena Djokikj, Ognen Tuteski, Bojana Hadjieva

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In the past decade, additive manufacturing technology or 3D printing has been promoted as an efficient method for fabricating hybrid composite materials and structures with superior mechanical properties and complex shape and geometry. Fused deposition modeling (FDM) process is commonly used additive manufacturing technique for production of polymer products. Therefore, many studies and experiments are focused on investigating the possibilities for improving the obtained results on product properties as a key factor for expanding the spectrum of their application. This article provides an extensive review on recent research advances in FDM and reports on studies that cover the effects of process parameters, material, and design of the product properties. The paper conclusions provide a clear up-to date information for optimum efficiency and enhancement of the mechanical properties of 3D printed samples and recommends further research work and investigations.

Keywords: additive manufacturing, critical parameters, filament, print orientation, 3D printing

Procedia PDF Downloads 193

Authors: Adepoju Abiola Lydia, Adeyanju James Abiodun, Abioye A. O.

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Spray drying, an innovative and sustainable preservation method, is increasingly gaining recognition for its potential to enhance food security by extending the shelf life of fruits. This technique involves the atomization of fruit pulp into fine droplets, followed by rapid drying with hot air, resulting in a powdered product that retains much of the original fruit's nutritional value, flavor, and color. By encapsulating sensitive bioactive compounds within a dry matrix, spray drying mitigates nutrient degradation and extends product usability. This technology aligns with sustainability goals by reducing post-harvest losses, minimizing the need for preservatives, and lowering energy consumption compared to conventional drying methods. Furthermore, spray drying enables the use of imperfect or surplus fruits, contributing to waste reduction and providing a continuous supply of nutritious fruit-based ingredients regardless of seasonal variations. The powdered form enhances versatility, allowing incorporation into various food products, thus broadening the scope of fruit utilization. Innovations in spray drying, such as the use of novel carrier agents and optimization of processing parameters, enhance the quality and functionality of the final product. Moreover, the scalability of spray drying makes it suitable for both industrial applications and smaller-scale operations, supporting local economies and food systems. In conclusion, spray drying stands out as a key technology in enhancing food security by ensuring a stable supply of high-quality, nutritious food ingredients while fostering sustainable agricultural practices.

Keywords: spray drying, sustainable, process parameters, carrier agents, fruits

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Authors: Juan Francisco Reinoso Gordo, Francisco Javier Ariza-López, José Rodríguez Avi, Domingo Barrera Rosillo

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The evaluation of the quality of a data product is based on the comparison of the product with a reference of greater accuracy. In the case of MDE data products, quality assessment usually focuses on positional accuracy and few studies consider other terrain characteristics, such as slope and orientation. The proposal that is made consists of evaluating the similarity of two DEMs (a product and a reference), through the joint analysis of the distribution functions of the variables of interest, for example, elevations, slopes and orientations. This is a multivariable approach that focuses on distribution functions, not on single parameters such as mean values or dispersions (e.g. root mean squared error or variance). This is considered to be a more holistic approach. The use of the Kolmogorov-Smirnov test is proposed due to its non-parametric nature, since the distributions of the variables of interest cannot always be adequately modeled by parametric models (e.g. the Normal distribution model). In addition, its application to the multivariate case is carried out jointly by means of a single test on the convolution of the distribution functions of the variables considered, which avoids the use of corrections such as Bonferroni when several statistics hypothesis tests are carried out together. In this work, two DEM products have been considered, DEM02 with a resolution of 2x2 meters and DEM05 with a resolution of 5x5 meters, both generated by the National Geographic Institute of Spain. DEM02 is considered as the reference and DEM05 as the product to be evaluated. In addition, the slope and aspect derived models have been calculated by GIS operations on the two DEM datasets. Through sample simulation processes, the adequate behavior of the Kolmogorov-Smirnov statistical test has been verified when the null hypothesis is true, which allows calibrating the value of the statistic for the desired significance value (e.g. 5%). Once the process has been calibrated, the same process can be applied to compare the similarity of different DEM data sets (e.g. the DEM05 versus the DEM02). In summary, an innovative alternative for the comparison of DEM data sets based on a multinomial non-parametric perspective has been proposed by means of a single Kolmogorov-Smirnov test. This new approach could be extended to other DEM features of interest (e.g. curvature, etc.) and to more than three variables

Keywords: data quality, DEM, kolmogorov-smirnov test, multivariate DEM comparison

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Authors: Jun-Lun Jiang, Bing-Sheng Yu

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Processing of flat-panel displays generates huge amount of wasted glass polishing powder, with high concentration of cerium and other elements such as lanthanum. According to the current statistics, consumption of polishing powder was approximately ten thousand tons per year in the world. Nevertheless, wasted polishing powder was usually buried or burned. If the lanthanum and cerium compounds in the wasted polishing powder could be recycled, that will greatly reduce enterprise cost and implement waste circulation. Cathodes of SOFCs are the principal consisting of rare earth elements such as lanthanum and cerium. In this study, we recycled the lanthanum and cerium from wasted glass polishing powder by acid-solution method, and synthesized La0.8Sr0.05Ca0.15Fe0.8Co0.8O3-δ and Gd0.1Ce0.9O2 (LSCCF-GDC) composite cathode material for SOFCs by glycinenitrate combustion (GNP) method. The results show that the recovery rates of lanthanum and cerium could accomplish up to 80% and 100% under 10N nitric acid solution within one hour. Comparing with the XRD data of the commercial LSCCF-GDC powder and the LSCCF-GDC product synthesized with chemicals, we find that the LSCCF-GDC was successfully synthesized with the recycled La & Ce solution by GNP method. The effect of adding ammonia to the product was also discussed, the grain size is finer and recovery rate of the product is higher without the addition of ammonia to the solution.

Keywords: glass polishing powder, acid solution, recycling, composite cathodes of solid oxide fuel, cell (SOFC), perovskite, glycine-nitrate combustion(GNP) method

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Authors: Clara T. Fatoye, April Betts, Abayomi Odeyemi, Francis A. Fatoye, Isaac O. Odeyemi

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Background: The post-launch stage is the last stage in the development of a pharmaceutical product. It is important to involve patients in the development of pharmaceutical products at the post-launch stage, as patients are the end-users of pharmaceutical products. It is expected that involving them might ensure an effective working relationship among the various stakeholders. However, involving patients in the development of pharmaceutical products comes with its problems. Hence, this study examined how to resolve problems experienced by involving patients in the developments of pharmaceutical products’ at post-launch consisting of Positioning of pharmaceutical products (POPP), detailing of pharmaceutical products (DOPP) and reimbursement and Formulary Submission (R&FS). Methods: A questionnaire was used for the present study. It was administered at the ISPOR Glasgow 2017 to 104 participants, all of which were professionals from Market access (MA) and health economics and outcomes research (HEOR) backgrounds. They were asked how the issues experienced by patients can be resolved. Participants responded under six domains as follows: communication, cost, effectiveness, external factors, Quality of life (QoL) and safety. Thematic analysis was carried out to identify strategies to resolve issues experienced by patients at the post-launch stage. Results: Three (3) factors cut across at POPP, DOPP, and R&FS that is (external factors, communication and QoL). The first resolution method was an external factor that is, the relationship with stakeholders and policymakers. Communication was also identified as a resolution method that can help to resolve problems experienced by patients at the post-launch stage. The third method was QoL as perceived by the patients based on professionals’ opinions. Other strategies that could be used to resolve problems experienced were the effectiveness of pharmaceutical products at the DOPP level and cost at R&FS. Conclusion: The study showed that focusing on external factors, communication, and patients’ QoL are methods for resolving issues experienced by involving patients at the post-launch stage of pharmaceutical product development. Hence, effective working relationships between patients, policymakers and stakeholders may help to resolve problems experienced at the post-launch stage. Healthcare policymakers are to be aware of these findings as they may help them to put appropriate strategies in place to enhance the involvement of patients in pharmaceutical product development at the post-launch stage, thereby improving the health outcomes of the patients.

Keywords: patients, pharmaceutical products, post-launch stage, quality of life, QoL

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Authors: A. Hilsana, Vinay U. Rao, M. Sudhakar

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Even though a number of non-steroidal anti-inflammatory drugs (NSAIDS) are available with different chemistries, they share a common solubility characteristic that is they are relatively more soluble in alkaline environment and practically insoluble in acidic environment. This work deals with developing a wax matrix drug delivery platform for controlled delivery of three model NSAIDS, Diclofenac sodium (DNa), Mefenamic acid (MA) and Naproxen (NPX) using the melt granulation technique. The aim of developing the platform was to have a general understanding on how an erodible matrix system modulates drug delivery rate and extent and how it can be optimized to give a delivery system which shall release the drug as per a common target product profile (TPP). Commonly used waxes like Cetostearyl alcohol and stearic acid were used singly an in combination to achieve a TPP of not 15 to 35% in 1 hour and not less than 80% Q in 24 hours. Full factorial design of experiments was followed for optimization of the formulation.

Keywords: NSAIDs, controlled delivery, target product profile, melt granulation

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Authors: Veerpaul Maan, Gaurav Mishra

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The evolution of omnichannel has revolutionized the supply chain of the organizations by enhancing customer shopping experience. For these organizations need to develop well-integrated multiple distribution channels to leverage the benefits of omnichannel. To adopt an omnichannel system in the supply chain has resulted in structuring and reconfiguring the practices of the traditional supply chain distribution network. In this paper a multiple distribution supply chain network (MDSCN) have been proposed which integrates online giants with a local retailers distribution network in uncertain environment followed by sustainability. To incorporate sustainability, an additional objective function is added to reduce the carbon content through minimizing the travel distance of the product. Through this proposed model, customers are free to access product and services as per their choice of channels which increases their convenience, reach and satisfaction. Further, a numerical illustration is being shown along with interpretation of results to validate the proposed model.

Keywords: sustainable supply chain network, omnichannel, multiple distribution supply chain network, integrate multiple distribution channels

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Authors: Sharmistha Chowdhury, Shuva Chowdhury

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Buying-selling new as well as second-hand goods like tools, furniture, household, electronics, clothing, baby stuff, vehicles, and hobbies through the Facebook marketplace has become a new paradigm for c2c sellers. This phenomenon encourages and empowers decentralised home-oriented sellers. This study adopts Elaboration Likelihood Model (ELM) to explain consumer behaviour on Facebook Marketplace (FM). ELM suggests that consumers process information through the central and peripheral routes, which eventually shape their attitudes towards posts. The central route focuses on information quality, and the peripheral route focuses on cues. Sellers’ FM posts usually include product features, prices, conditions, pictures, and pick-up location. This study uses information relevance and accuracy as central route factors. The post’s attractiveness represents cues and creates positive or negative associations with the product. A post with remarkable pictures increases the attractiveness of the post. So, post aesthetics is used as a peripheral route factor. People influenced via the central or peripheral route forms an attitude that includes multiple processes – response and purchase intention. People respond to FM posts through save, share and chat. Purchase intention reflects a positive image of the product and higher purchase intention. This study proposes trust on sellers as a moderator to test the strength of its influence on consumer attitudes and behaviour. Trust on sellers is assessed whether sellers have badges or not. A sample questionnaire will be developed and distributed among a group of random FM sellers who are selling vehicles on this platform to conduct the study. The chosen product of this study is the vehicle, a high-value purchase item. High-value purchase requires consumers to consider forming their attitude without any sign of impulsiveness seriously. Hence, vehicles are the perfect choice to test the strength of consumers attitudes and behaviour. The findings of the study add to the elaboration likelihood model and online second-hand marketplace literature.

Keywords: consumer behaviour, elaboration likelihood model, facebook marketplace, c2c marketing

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Authors: Sanaz Farhangi, Habib Alipour

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The main objective of this paper is to explore how social media as a critical platform would increase the interactions between the tourism sector and stakeholders. Nowadays, human interactions through social media in many areas, especially in tourism, provide various experiences and information that users share and discuss. Organizations and firms can gain customer loyalty through social media platforms, albeit consumers' negative image of the product or services. Such a negative image can be reduced through constant communication between produces and consumers, especially with the availability of the new technology. Therefore, effective management of customer relationships in social media creates an extraordinary opportunity for organizations to enhance value and brand loyalty. In this study, we seek to develop a conceptual model for addressing factors such as social media, SCRM, and customer engagement affecting brand loyalty and diminish co-destruction. To support this model, we scanned the relevant literature using a comprehensive category of ideas in the context of marketing and customer relationship management. This will allow exploring whether there is any relationship between social media, customer engagement, social customer relationship management (SCRM), co-destruction, and brand loyalty. SCRM has been explored as a moderating factor in the relationship between customer engagement and social media to secure brand loyalty and diminish co-destruction of the company’s value. Although numerous studies have been conducted on the impact of social media on customers and marketing behavior, there are limited studies for investigating the relationship between SCRM, brand loyalty, and negative e-WOM, which results in the reduction of the co-destruction of value by customers. This study is an important contribution to the tourism and hospitality industry in orienting customer behavior in social media using SCRM. This study revealed that through social media platforms, management can generate discussion and engagement about the product and services, which facilitates customers feeling in an appositive way towards the firm and its product. Study has also revealed that customers’ complaints through social media have a multi-purpose effect; it can degrade the value of the product, but at the same time, it will motivate the firm to overcome its weaknesses and correct its shortcomings. This study has also implications for the managers and practitioners, especially in the tourism and hospitality sector. Future research direction and limitations of the research were also discussed.

Keywords: brand loyalty, co-destruction, customer engagement, SCRM, tourism and hospitality

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Authors: Khalaf Khatatneh, Nabeel Al-Milli, Amjad Hudaib, Monther Ali Tarawneh

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Software fault prediction identify potential faults in software modules during the development process. In this paper, we present a novel approach for software fault prediction by combining a feedforward neural network with particle swarm optimization (PSO). The PSO algorithm is employed as a feature selection technique to identify the most relevant metrics as inputs to the neural network. Which enhances the quality of feature selection and subsequently improves the performance of the neural network model. Through comprehensive experiments on software fault prediction datasets, the proposed hybrid approach achieves better results, outperforming traditional classification methods. The integration of PSO-based feature selection with the neural network enables the identification of critical metrics that provide more accurate fault prediction. Results shows the effectiveness of the proposed approach and its potential for reducing development costs and effort by detecting faults early in the software development lifecycle. Further research and validation on diverse datasets will help solidify the practical applicability of the new approach in real-world software engineering scenarios.

Keywords: feature selection, neural network, particle swarm optimization, software fault prediction

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Authors: Lei Zhang, Tingting Xu, Jun He, Zhenyu Yan

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Email marketing is one of the most important segments of online marketing. It has been proved to be the most effective way to acquire and retain customers. The email content is vital to customers. Different customers may have different familiarity with a product, so a successful marketing strategy must personalize email content based on individual customers’ product affinity. In this study, we build our personalized email marketing strategy with three types of emails: nurture, promotion, and conversion. Each type of email has a different influence on customers. We investigate this difference by analyzing customers’ open rates, click rates and opt-out rates. Feature importance from response models is also analyzed. The goal of the marketing strategy is to improve the click rate on conversion-type emails. To build the personalized strategy, we formulate the problem as a reinforcement learning problem and adopt a Q-learning algorithm with variations. The simulation results show that our model-based strategy outperforms the current marketer’s strategy.

Keywords: email marketing, email content, reinforcement learning, machine learning, Q-learning

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Authors: Chinwendu R. Nnabalu, Gioia Falcone, Imma Bortone

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Petroleum refining is a chemical process in which the raw material (crude oil) is converted to finished commercial products for end users. The fluid catalytic cracking (FCC) unit is a key asset in refineries, requiring optimised processes in the context of engineering design. Following the first stage of separation of crude oil in a distillation tower, an additional 40 per cent quantity is attainable in the gasoline pool with further conversion of the downgraded product of crude oil (residue from the distillation tower) using a catalyst in the FCC process. Effective removal of sulphur oxides, nitrogen oxides, carbon and heavy metals from FCC gasoline requires greater separation efficiency and involves an enormous environmental significance. The FCC unit is primarily a reactor and regeneration system which employs cyclone systems for separation.  Catalyst losses in FCC cyclones lead to high particulate matter emission on the regenerator side and fines carryover into the product on the reactor side. This paper aims at demonstrating the importance of FCC unit design criteria in terms of technical performance and compliance with environmental legislation. A systematic review of state-of-the-art FCC technology was carried out, identifying its key technical challenges and sources of emissions.  Case studies of petroleum refineries in Nigeria were assessed against selected global case studies. The review highlights the need for further modelling investigations to help improve FCC design to more effectively meet product specification requirements while complying with stricter environmental legislation.

Keywords: design, emission, fluid catalytic cracking, petroleum refineries

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Authors: Luciano Batista, Sylvia Saes, Nuno Fouto, Liam Fassam

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This paper introduces the theoretical and methodological basis of an analytical framework conceived with the purpose of bringing industrial ecology perspectives into the core of the underlying disciplines supporting analyses in studies concerned with environmental sustainability aspects beyond the product cycle in a supply chain. Given the pressing challenges faced by the food sector, the framework focuses upon waste minimization through industrial linkages in food supply chains. The combination of industrial ecology practice with basic LCA elements, the waste hierarchy model, and the spatial scale of industrial symbiosis allows the standardization of qualitative analyses and associated outcomes. Such standardization enables comparative analysis not only between different stages of a supply chain, but also between different supply chains. The analytical approach proposed contributes more coherently to the wider circular economy aspiration of optimizing the flow of goods to get the most out of raw materials and cuts wastes to a minimum.

Keywords: by-product synergy, food supply chain, industrial ecology, industrial symbiosis

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Authors: Eva Savy, Anthony Ruiz

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In extrusion blow molding, there is great variability in product quality due to the sensitivity of the machine settings. These variations lead to unnecessary rejects and loss of time. Yet production control is a major challenge for companies in this sector to remain competitive within their market. Current quality control methods only apply to finished products (vision control, leak test...). It has been shown that material melt temperature, blowing pressure, and ambient temperature have a significant impact on the variability of product quality. Since blowing is a key step in the process, we have studied this parameter in this paper. The objective is to determine if airflow analysis allows the identification of quality problems before the full completion of the manufacturing process. We conducted tests to determine if it was possible to identify a leakage defect and an obstructed defect, two common defects on products. The results showed that it was possible to identify a leakage defect by airflow analysis.

Keywords: extrusion blow molding, signal, sensor, defects, detection

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Authors: Hamed Saremi, Suzan Taghavy, Seyed Mohammad Hanif Sanjari, Mostafa Kahali

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One of the challenges in manufacturing and service companies to provide a product or service is recognized Brand to consumers in target markets. They provide most of their processes under the same capacity. But the constant threat of devastating internal and external resources to prevent a rise Brands and more companies are recognizing the stages are bankrupt. This paper has tried to identify and analyze effective indicators of brand equity and focuses on indicators and presents a model of intelligent create a model to prevent possible damage. In this study, the identified indicators of brand equity are based on literature study and according to expert opinions, set of indicators By techniques DEMATEL Then to used Multi-Step Adaptive Neural-Fuzzy Inference system (ANFIS) to design a multi-stage intelligent system for assessment of brand equity.

Keywords: brand, cosmetic product, ANFIS, DEMATEL

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Authors: Piluntana Panpluem, Monticha Putsakum

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The objectives of this study were to investigate 1) consumers’ behaviors in buying organic products; and 2) the relationships between personal factors, cultural factors, social factors, psychological factors and marketing mix factors, and the behavior in buying organic products of consumers in the greater Bangkok metropolitan area. The sample group was 400 consumers at the age of 15 and older, who bought organic agricultural products from green markets and green shops in Bangkok, including its suburbs. The data were collected by using a questionnaire, which were analyzed by descriptive statistics and chi-square test. The results showed that the consumers bought 3 – 4 types of fresh vegetables with a total expenditure of less than 499 Baht each time. They purchased organic products mainly at a supermarket, 2 – 4 times per month, most frequently on Sundays, which took less than 30 minutes of shopping each time. The purpose of the purchase was for self-consuming. Gaining or retaining good health was the reason for the consumption of the products. Additionally, the first considered factor in the organic product selection was the quality. The decisions in purchasing the products were made directly by consumers, who were influenced mainly by advertising media on television. For the relationships among personal, cultural, social, psychological and marketing mix factors, and consumers’ behavior in buying organic products, the results showed the following: 1) personal factors, which were gender, age and educational level, were related to the behavior in terms of “What”, “Why”, and “Where” the consumers bought organic products (p<0.05); 2) cultural factors were related to “Why” the consumers bought organic products (p<0.05); 3) social factors were related to “Where” and “How” the consumers bought organic products (p<0.05); 4) psychological factors were related to “When” the consumers bought organic products (p<0.05). 5) For the marketing mix factors, “Product” was related to “Who participated” in buying, “What” and “Where” the consumers bought organic products (p<0.05), while “Price” was related to “What” and “When” the consumers bought organic products (p<0.05). “Place” was related to “What” and “How” the consumers bought organic products (p<0.05). Furthermore, “Promotion” was related to “What” and “Where” the consumers bought organic products (p<0.05).

Keywords: consumer behavior, organic products, Bangkok Metropolis and Vicinity

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Authors: Ethan Petersen

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In this paper, we analyze the volatility of Apple’s stock beginning January 3, 2005 up to October 9, 2014, then focus on a range from 30 days prior to each product announcement until 30 days after. Product announcements are filtered; announcements whose 60 day range is devoid of other events are separated. This filtration is chosen to isolate, and study, a potential cross-effect. Concerning Apple keynotes, there are two significant dates: the day the invitations to the event are received and the day of the event itself. As such, the statistical analysis is conducted for both invite-centered and event-centered time frames. A comparison to the VIX is made to determine if the trend is simply following the market or deviating. Regardless of the filtration, we find that there is a clear deviation from the market. Comparing these data sets, there are significantly different trends: isolated events have a constantly decreasing, erratic trend in volatility but an increasing, linear trend is observed for clustered events. According to the Efficient Market Hypothesis, we would expect a change when new information is publicly known and the results of this study support this claim.

Keywords: efficient market hypothesis, event study, volatility, VIX

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Authors: Siri-Orn Champatong

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The objectives of this research were to study the attitude of service marketing mix that affected the decision making behavior to use fitness service in case of the fitness in Thailand. This study employed by survey research and questionnaire was used to collect the data from 400 of consumers who have used the service and interested in using the service in the future. The descriptive statistics and multiple regression analysis were used to analyze data. The results revealed that the attitude toward overall marketing mix was at moderate level. For particulars, attitude toward product and service aspects were at good level, however, attitude toward price, place, promotion, people, physical evidence and service quality aspects were at moderate level. The hypothesis testing results showed that attitude toward each aspect affected word of mouth, however, attitude toward product and service, place, promotion, people and physical evidence affected tendency to use fitness service at .05 statistically significant level.

Keywords: decision making behavior, fitness, marketing mix, marketing service

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Authors: Marie E. Docken

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At some point in the lifecycle of a country, patterns of political and social unrest of varying degrees are observed. Events involving public disorder or civil disobedience may produce effects that range a wide spectrum of varying outcomes, depending on the level of unrest. Many previous studies, primarily theoretical in nature, have attempted to measure public disorder in answering why or how it occurs in society by examining causal factors or underlying issues in the social or political position of a population. The main objective in doing so is to understand how these activities evolve or seek some predictive capability for the events. In contrast, this research involves the fusion of analytics and social studies to provide more knowledge of the public disorder and civil disobedience intensity in populations. With a greater understanding of the magnitude of these events, it is believed that we may learn how they relate to extreme actions such as mass migration or violence. Upon establishing a model for measuring civil unrest based upon empirical data, a case study on various Latin American countries is performed. Interpretations of historical events are combined with analytical results to provide insights regarding the magnitude and effect of social and political activism.

Keywords: public disorder, civil disobedience, Latin America, metrics, data analysis

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Authors: Nitin Singh, Meng Ling, Talha Ahmed, Tianxia Zhao, Reinier van de Pol

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We propose the use of reinforcement learning (RL) as a viable alternative for optimizing supply chain management, particularly in scenarios with stochasticity in product demands. RL’s adaptability to changing conditions and its demonstrated success in diverse fields of sequential decision-making makes it a promising candidate for addressing supply chain problems. We investigate the impact of demand fluctuations in a multi-product supply chain system and develop RL agents with learned generalizable policies. We provide experimentation details for training RL agents and statistical analysis of the results. We study the generalization ability of RL agents for different demand uncertainty scenarios and observe superior performance compared to the agents trained with fixed demand curves. The proposed methodology has the potential to lead to cost reduction and increased profit for companies dealing with frequent inventory movement between supply and demand nodes.

Keywords: inventory management, reinforcement learning, supply chain optimization, uncertainty

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Authors: Mónika Bartalné-Berceli, Eszter Izsó, Szilveszter Gergely, András Salgó

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Nowadays a significant portion of the Earth's population does not have access to healthy food. Either because they can not afford them or because they do not know which they are. The aim of the VIIth Framework CHANCE project (Nr. 266331) supported by the European Union has been to develop relatively cheap food favorable from nutritional point of view and has acceptable quality for consumers. Within the project we dealt with manufacturing of bread belonging to basic foods. We had examined the enrichment of bread products with four kinds of bran, with a special milling product of grain industry (aleurone flour) and with a soy-based sprouted additive. The applied concentration of the six mentioned additives has been optimized and the physical and sensory properties of the bread products were monitored. The weight of the enriched breads increased slightly, however the volume and height decreased slightly compared to the corresponding data of the control bread. The composition of the final product is favorable affected by these additives having highly preferred composition from nutritional point of view.

Keywords: bread products, brans, YASO, aleurone flour

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Authors: Mohammadreza Nematollahi, Bahareh Mosadegh Sedghy, Alireza Tajbakhsh

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The last two decades have witnessed substantial attention to organic and sustainable agricultural supply chains. Motivated by real-world practices, this paper aims to address two main challenges observed in organic product supply chains: decentralized decision-making process between farmers and their retailers, and competition between organic products and their conventional counterparts. To this aim, an agricultural supply chain consisting of two farmers, a conventional farmer and an organic farmer who offers an organic version of the same product, is considered. Both farmers distribute their products through a single retailer, where there exists competition between the organic and the conventional product. The retailer, as the market leader, sets the wholesale price, and afterward, the farmers set their production quantity decisions. This paper first models the demand functions of the conventional and organic products by incorporating the effect of asymmetric brand equity, which captures the fact that consumers usually pay a premium for organic due to positive perceptions regarding their health and environmental benefits. Then, profit functions with consideration of some characteristics of organic farming, including crop yield gap and organic cost factor, are modeled. Our research also considers both economies and diseconomies of scale in farming production as well as the effects of organic subsidy paid by the government to support organic farming. This paper explores the investigated supply chain in three scenarios: decentralized, centralized, and coordinated decision-making structures. In the decentralized scenario, the conventional and organic farmers and the retailer maximize their own profits individually. In this case, the interaction between the farmers is modeled under the Bertrand competition, while analyzing the interaction between the retailer and farmers under the Stackelberg game structure. In the centralized model, the optimal production strategies are obtained from the entire supply chain perspective. Analytical models are developed to derive closed-form optimal solutions. Moreover, analytical sensitivity analyses are conducted to explore the effects of main parameters like the crop yield gap, organic cost factor, organic subsidy, and percent price premium of the organic product on the farmers’ and retailer’s optimal strategies. Afterward, a coordination scenario is proposed to convince the three supply chain members to shift from the decentralized to centralized decision-making structure. The results indicate that the proposed coordination scenario provides a win-win-win situation for all three members compared to the decentralized model. Moreover, our paper demonstrates that the coordinated model respectively increases and decreases the production and price of organic produce, which in turn motivates the consumption of organic products in the market. Moreover, the proposed coordination model helps the organic farmer better handle the challenges of organic farming, including the additional cost and crop yield gap. Last but not least, our results highlight the active role of the organic subsidy paid by the government as a means of promoting sustainable organic product supply chains. Our paper shows that although the amount of organic subsidy plays a significant role in the production and sales price of organic products, the allocation method of subsidy between the organic farmer and retailer is not of that importance.

Keywords: analytical game-theoretic model, product competition, supply chain coordination, sustainable organic supply chain

Procedia PDF Downloads 111

Authors: Ala’a H. Al-Muhtaseb, Farrukh Jamil, Lamya Al-Haj, Mohab Al-Hinai

Abstract:

Bio-glycerol is considered as high boiling polar triol and immiscible with fossil fuel fractions due to which it is transformed into its respective ketals and acetals which help to improve the quality of diesel emitting less amount of aldehydes and carbon monoxide. Solketal visual appearance is transparent and it is odorless organic liquid used as fuel additive for diesel to improve its cold flow properties. Condensation of bio-glycerol with bio-acetone in presence of beta zeolite has been done for synthesizing solketal. It was observed that glycerol conversion and selectivity of solketal was largely effected by temperature, as it increases from 40 ºC to 60 ºC the conversion of glycerol rises from 80.04 % to 94.26 % and selectivity of solketal from 80.0 % to 94.21 % but further increase in temperature to 100 ºC glycerol conversion reduced to 93.06 % and solketal selectivity to 92.08 %. At the optimum conditions, the bio-glycerol conversion and solketal yield were about 94.26% and 94.21wt% respectively. This process offers an attractive route for converting bio-glycerol, the main by-product of biodiesel to solketal with bio-acetone; a value-added green product with potential industrial applications as a valuable green fuel additive or combustion promoter for gasoline/diesel engines.

Keywords: bio-acetone, bio-glycerol, acetylation, solketal

Procedia PDF Downloads 263

Authors: Merve Aygün Esastürk, Deren Ataç Yılmaz, Görkem Oğur, Emre Özgen Kuzu, Sadık Ödemiş

Abstract:

Hydrocracker plants are one of the most complicated and most profitable units in the refinery process. It takes long chain paraffinic hydrocarbons as feed and turns them into smaller and more valuable products, mainly kerosene and diesel under high pressure with the excess amount of hydrogen. Controlling the product qualities well directly contributes to the unit profit. Control of a plant is mainly based on PID and MPC controllers. Controlling the reaction section is important in terms of reaction severity. However, controlling the fractionation section is more crucial since the end products are separated in fractionation section. In this paper, the importance of well-configured base layer control mechanism, composed of PID controllers, is highlighted. For this purpose, two different base layer control scheme is applied in a hydrocracker fractionator column performances of schemes, which is a direct contribution to better product quality, are compared.

Keywords: controller, distillation, configuration selection, hydrocracker, model predictive controller, proportional-integral-derivative controller

Procedia PDF Downloads 439

Authors: Farrukh Jamil, Ala'a H. Al-Muhtaseb, Lamya Al-Haj, Mohab A. Al-Hinai

Abstract:

Glycerol is considered as high boiling polar triol and immiscible with fossil fuel fractions due to which it is transformed into its respective ketals and acetals which help to improve the quality of diesel emitting less amount of aldehydes and carbon monoxide. Solketal visual appearance is transparent, and it is odorless organic liquid used as a fuel additive for diesel to improve its cold flow properties. Condensation of bio-glycerol with bio-acetone in presence of beta zeolite has been done for synthesizing solketal. It was observed that glycerol conversion and selectivity of solketal was largely effected by temperature, as it increases from 40 ºC to 60 ºC the conversion of glycerol rises from 80.04 % to 94.26 % and selectivity of solketal from 80.0 % to 94.21 % but further increase in temperature to 100 ºC glycerol conversion reduced to 93.06 % and solketal selectivity to 92.08 %. At the optimum conditions, the bio-glycerol conversion and solketal yield were about 94.26% and 94.21wt% respectively. This process offers an attractive route for converting bio-glycerol, the main by-product of biodiesel to solketal with bio-acetone; a value-added green product with potential industrial applications as a valuable green fuel additive or combustion promoter for gasoline/diesel engines.

Keywords: bio-glycerol, catalyst, green additive, biomass

Procedia PDF Downloads 242

Authors: Darren A. Whitaker, Dan Palmer, Jens Wesholowski, James Flaherty, John Mack, Ahmad B. Albadarin, Gavin Walker

Abstract:

Traditional mechanosynthesis has been performed by either ball milling or manual grinding. However, neither of these techniques allow the easy application of process control. The temperature may change unpredictably due to friction in the process. Hence the amount of energy transferred to the reactants is intrinsically non-uniform. Recently, it has been shown that the use of Twin-Screw extrusion (TSE) can overcome these limitations. Additionally, TSE enables a platform for continuous synthesis or manufacturing as it is an open-ended process, with feedstocks at one end and product at the other. Several materials including metal-organic frameworks (MOFs), co-crystals and small organic molecules have been produced mechanochemically using TSE. The described advantages of TSE are offset by drawbacks such as increased process complexity (a large number of process parameters) and variation in feedstock flow impacting on product quality. To handle the above-mentioned drawbacks, this study utilizes UV-Vis spectrophotometry (InSpectroX, ColVisTec) as an online tool to gain real-time information about the quality of the product. Additionally, this is combined with real-time process information in an Advanced Process Control system (PharmaMV, Perceptive Engineering) allowing full supervision and control of the TSE process. Further, by characterizing the dynamic behavior of the TSE, a model predictive controller (MPC) can be employed to ensure the process remains under control when perturbed by external disturbances. Two reactions were studied; a Knoevenagel condensation reaction of barbituric acid and vanillin and, the direct amidation of hydroquinone by ammonium acetate to form N-Acetyl-para-aminophenol (APAP) commonly known as paracetamol. Both reactions could be carried out continuously using TSE, nuclear magnetic resonance (NMR) spectroscopy was used to confirm the percentage conversion of starting materials to product. This information was used to construct partial least squares (PLS) calibration models within the PharmaMV development system, which relates the percent conversion to product to the acquired UV-Vis spectrum. Once this was complete, the model was deployed within the PharmaMV Real-Time System to carry out automated optimization experiments to maximize the percentage conversion based on a set of process parameters in a design of experiments (DoE) style methodology. With the optimum set of process parameters established, a series of PRBS process response tests (i.e. Pseudo-Random Binary Sequences) around the optimum were conducted. The resultant dataset was used to build a statistical model and associated MPC. The controller maximizes product quality whilst ensuring the process remains at the optimum even as disturbances such as raw material variability are introduced into the system. To summarize, a combination of online spectral monitoring and advanced process control was used to develop a robust system for optimization and control of two TSE based mechanosynthetic processes.

Keywords: continuous synthesis, pharmaceutical, spectroscopy, advanced process control

Procedia PDF Downloads 177

Authors: T. S. Desak Ketut, A.n. Isna, A.a. Ayu, D. P. Ririn, Suharjono Hadiatullah

Abstract:

The requirement of paper from year to year rise rapidly. The raising of cellulose requirement in paper production caused increasing of wood requirement with the effect that limited forest areal because of deforestation. Alternative cellulose that can be used for making paper is microbial cellulose. The objective of this research are to know the effectivity fermentation media Spirogyra sp. by Gluconacetobacter xylinum for cellulose production as material for the making of paper and to know effect composition bacterial cellulose composite product of Gluconacetobacter xylinum in Spirogyra sp. The method, was used, is as follow, 1) the effect assay from variation composition of fermentation media to bacterial cellulose production by Gluconacetobacter xylinum. 2) The effect assay of composition bacterial cellulose fermentation producted by Gluconacetobacter xylinum in extracted Spirogyra media to paper quality. The result of this research is variation fermentation media Spirogyra sp. affect to production of cellulose by Gluconacetobacter xylinum. Thus, result showed by the highest value and significantly different in thickness parameter, dry weight and wet weight of nata in sucrose concentration 7,5 % and urea 0,75 %. Composition composite of bacterial cellulose from fermentation product by Gluconacetobacter xylinum in media Spirogyra sp. affect to paper quality from wet nata and dry nata. Parameters thickness, weight, water absorpsion, density and gramatur showed highest result in sucrose concentration 7,5 % and urea concentration 0,75 %, except paper density from dry nata had highest result in sucrose and urea concentration 0%.

Keywords: cellulose, fermentation media, , Gluconacetobacter xylinum, paper, Spirogyra sp.

Procedia PDF Downloads 343