Search results for: strategic supplier selection
3287 Constructing a New World Order through a Narrative of Infrastructural Development: The Case of the BRICS
Authors: Carolijn Van Noort
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The aim of this research is to understand how the emerging power bloc BRICS employs infrastructure development narratives to construct a new world order. BRICS is an international body consisting of five emerging countries that collaborate on economic and political issues: Brazil, Russia, India, China, and South Africa. This study explores the projection of infrastructure development narratives through an analysis of BRICS’ attention to infrastructure investment and financing, its support of the New Partnership on African Development and the establishment of the New Development Bank in Shanghai. The theory of Strategic Narratives is used to explore BRICS’ commitment to infrastructure development and to distinguish three layers: system narratives (BRICS as a global actor to propose development reform), identity narratives (BRICS as a collective identity joining efforts to act upon development aspirations) and issue narratives (BRICS committed to a range of issues of which infrastructure development is prominent). The methodology that is employed is a narrative analysis of BRICS’ official documents, media statements, and website imagery. A comparison of these narratives illuminates tensions at the three layers and among the five member states. Identifying tensions among development infrastructure narratives provides an indication of how policymaking for infrastructure development could be improved. Subsequently, it advances BRICS’ ability to act as a global actor to construct a new world order.Keywords: BRICS, emerging powers, infrastructure development, strategic narratives
Procedia PDF Downloads 2923286 The Concept of an Agile Enterprise Research Model
Authors: Maja Sajdak
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The aim of this paper is to present the concept of an agile enterprise model and to initiate discussion on the research assumptions of the model presented. The implementation of the research project "The agility of enterprises in the process of adapting to the environment and its changes" began in August 2014 and is planned to last three years. The article has the form of a work-in-progress paper which aims to verify and initiate a debate over the proposed research model. In the literature there are very few publications relating to research into agility; it can be concluded that the most controversial issue in this regard is the method of measuring agility. In previous studies the operationalization of agility was often fragmentary, focusing only on selected areas of agility, for example manufacturing, or analysing only selected sectors. As a result the measures created to date can only be treated as contributory to the development of precise measurement tools. This research project aims to fill a cognitive gap in the literature with regard to the conceptualization and operationalization of an agile company. Thus, the original contribution of the author of this project is the construction of a theoretical model that integrates manufacturing agility (consisting mainly in adaptation to the environment) and strategic agility (based on proactive measures). The author of this research project is primarily interested in the attributes of an agile enterprise which indicate that the company is able to rapidly adapt to changing circumstances and behave pro-actively.Keywords: agile company, acuity, entrepreneurship, flexibility, research model, strategic leadership
Procedia PDF Downloads 3433285 Implementation of Stop Tuberculosis Strategy in High Burden Country like India and the Role of Ni-Kshay Mitra
Authors: Upvan Chobera
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India bears the highest burden of tuberculosis globally, facing a significant incidence rate. To combat this public health challenge, the Ministry of Health and Family Welfare in India has launched an ambitious national strategic plan with the aim of achieving END TB targets by 2025. Addressing tuberculosis requires a comprehensive, multi-sectoral approach that encompasses factors such as nutritional support, living and working conditions, and improved access to diagnostics and treatment services. This study delves into the burden of tuberculosis in India, examining the government's strategic plan to combat the disease. Additionally, it explores the role of Ni-Kshay Mitra (community support) in this fight, encompassing various entities such as cooperative societies, corporations, elected representatives, individuals, institutions, non-government organizations, and political parties or individual donors. These efforts aim to enhance the response against tuberculosis, complementing the government's initiatives and catering to district-specific requirements, all coordinated with the district administration. It is important to note that the support provided under the Ni-Kshay Mitra initiative is supplementary to the free services offered by the National TB Elimination Program (NTEP) available to all patients.Keywords: end TB targets, Ni-kshay Mitra, NTEP, tuberculosis burden in India
Procedia PDF Downloads 843284 Application of Transportation Models for Analysing Future Intercity and Intracity Travel Patterns in Kuwait
Authors: Srikanth Pandurangi, Basheer Mohammed, Nezar Al Sayegh
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In order to meet the increasing demand for housing care for Kuwaiti citizens, the government authorities in Kuwait are undertaking a series of projects in the form of new large cities, outside the current urban area. Al Mutlaa City located to the north-west of the Kuwait Metropolitan Area is one such project out of the 15 planned new cities. The city accommodates a wide variety of residential developments, employment opportunities, commercial, recreational, health care and institutional uses. This paper examines the application of comprehensive transportation demand modeling works undertaken in VISUM platform to understand the future intracity and intercity travel distribution patterns in Kuwait. The scope of models developed varied in levels of detail: strategic model update, sub-area models representing future demand of Al Mutlaa City, sub-area models built to estimate the demand in the residential neighborhoods of the city. This paper aims at offering model update framework that facilitates easy integration between sub-area models and strategic national models for unified traffic forecasts. This paper presents the transportation demand modeling results utilized in informing the planning of multi-modal transportation system for Al Mutlaa City. This paper also presents the household survey data collection efforts undertaken using GPS devices (first time in Kuwait) and notebook computer based digital survey forms for interviewing representative sample of citizens and residents. The survey results formed the basis of estimating trip generation rates and trip distribution coefficients used in the strategic base year model calibration and validation process.Keywords: innovative methods in transportation data collection, integrated public transportation system, traffic forecasts, transportation modeling, travel behavior
Procedia PDF Downloads 2223283 Using Greywolf Optimized Machine Learning Algorithms to Improve Accuracy for Predicting Hospital Readmission for Diabetes
Authors: Vincent Liu
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Machine learning algorithms (ML) can achieve high accuracy in predicting outcomes compared to classical models. Metaheuristic, nature-inspired algorithms can enhance traditional ML algorithms by optimizing them such as by performing feature selection. We compare ten ML algorithms to predict 30-day hospital readmission rates for diabetes patients in the US using a dataset from UCI Machine Learning Repository with feature selection performed by Greywolf nature-inspired algorithm. The baseline accuracy for the initial random forest model was 65%. After performing feature engineering, SMOTE for class balancing, and Greywolf optimization, the machine learning algorithms showed better metrics, including F1 scores, accuracy, and confusion matrix with improvements ranging in 10%-30%, and a best model of XGBoost with an accuracy of 95%. Applying machine learning this way can improve patient outcomes as unnecessary rehospitalizations can be prevented by focusing on patients that are at a higher risk of readmission.Keywords: diabetes, machine learning, 30-day readmission, metaheuristic
Procedia PDF Downloads 623282 Towards a Strategic Framework for State-Level Epistemological Functions
Authors: Mark Darius Juszczak
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While epistemology, as a sub-field of philosophy, is generally concerned with theoretical questions about the nature of knowledge, the explosion in digital media technologies has resulted in an exponential increase in the storage and transmission of human information. That increase has resulted in a particular non-linear dynamic – digital epistemological functions are radically altering how and what we know. Neither the rate of that change nor the consequences of it have been well studied or taken into account in developing state-level strategies for epistemological functions. At the current time, US Federal policy, like that of virtually all other countries, maintains, at the national state level, clearly defined boundaries between various epistemological agencies - agencies that, in one way or another, mediate the functional use of knowledge. These agencies can take the form of patent and trademark offices, national library and archive systems, departments of education, departments such as the FTC, university systems and regulations, military research systems such as DARPA, federal scientific research agencies, medical and pharmaceutical accreditation agencies, federal funding for scientific research and legislative committees and subcommittees that attempt to alter the laws that govern epistemological functions. All of these agencies are in the constant process of creating, analyzing, and regulating knowledge. Those processes are, at the most general level, epistemological functions – they act upon and define what knowledge is. At the same time, however, there are no high-level strategic epistemological directives or frameworks that define those functions. The only time in US history where a proxy state-level epistemological strategy existed was between 1961 and 1969 when the Kennedy Administration committed the United States to the Apollo program. While that program had a singular technical objective as its outcome, that objective was so technologically advanced for its day and so complex so that it required a massive redirection of state-level epistemological functions – in essence, a broad and diverse set of state-level agencies suddenly found themselves working together towards a common epistemological goal. This paper does not call for a repeat of the Apollo program. Rather, its purpose is to investigate the minimum structural requirements for a national state-level epistemological strategy in the United States. In addition, this paper also seeks to analyze how the epistemological work of the multitude of national agencies within the United States would be affected by such a high-level framework. This paper is an exploratory study of this type of framework. The primary hypothesis of the author is that such a function is possible but would require extensive re-framing and reclassification of traditional epistemological functions at the respective agency level. In much the same way that, for example, DHS (Department of Homeland Security) evolved to respond to a new type of security threat in the world for the United States, it is theorized that a lack of coordination and alignment in epistemological functions will equally result in a strategic threat to the United States.Keywords: strategic security, epistemological functions, epistemological agencies, Apollo program
Procedia PDF Downloads 773281 Corporate In-Kind Donations and Economic Efficiency: The Case of Surplus Food Recovery and Donation
Authors: Sedef Sert, Paola Garrone, Marco Melacini, Alessandro Perego
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This paper is aimed at enhancing our current understanding of motivations behind corporate in-kind donations and to find out whether economic efficiency may be a major driver. Our empirical setting is consisted of surplus food recovery and donation by companies from food supply chain. This choice of empirical setting is motivated by growing attention on the paradox of food insecurity and food waste i.e. a total of 842 million people worldwide were estimated to be suffering from regularly not getting enough food, while approximately 1.3 billion tons per year food is wasted globally. Recently, many authors have started considering surplus food donation to nonprofit organizations as a way to cope with social issue of food insecurity and environmental issue of food waste. In corporate philanthropy literature the motivations behind the corporate donations for social purposes, such as altruistic motivations, enhancements to employee morale, the organization’s image, supplier/customer relationships, local community support, have been examined. However, the relationship with economic efficiency is not studied and in many cases the pure economic efficiency as a decision making factor is neglected. Although in literature there are some studies give us the clue on economic value creation of surplus food donation such as saving landfill fees or getting tax deductions, so far there is no study focusing deeply on this phenomenon. In this paper, we develop a conceptual framework which explores the economic barriers and drivers towards alternative surplus food management options i.e. discounts, secondary markets, feeding animals, composting, energy recovery, disposal. The case study methodology is used to conduct the research. Protocols for semi structured interviews are prepared based on an extensive literature review and adapted after expert opinions. The interviews are conducted mostly with the supply chain and logistics managers of 20 companies in food sector operating in Italy, in particular in Lombardy region. The results shows that in current situation, the food manufacturing companies can experience cost saving by recovering and donating the surplus food with respect to other methods especially considering the disposal option. On the other hand, retail and food service sectors are not economically incentivized to recover and donate surplus food to disfavored population. The paper shows that not only strategic and moral motivations, but also economic motivations play an important role in managerial decision making process in surplus food management. We also believe that our research while rooted in the surplus food management topic delivers some interesting implications to more general research on corporate in-kind donations. It also shows that there is a huge room for policy making favoring the recovery and donation of surplus products.Keywords: corporate philanthropy, donation, recovery, surplus food
Procedia PDF Downloads 3123280 Sustainable Strategies for Managing Rural Tourism in Abyaneh Village, Isfahan
Authors: Hoda Manafian, Stephen Holland
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Problem statement: Rural areas in Iran are one of the most popular tourism destinations. Abyaneh Village is one of them with a long history behind it (more than 1500 years) which is a national heritage site and also is nominated as a world heritage site in UNESCO tentative list from 2007. There is a considerable foundation of religious-cultural heritage and also agricultural history and activities. However, this heritage site suffers from mass tourism which is beyond its social and physical carrying capacity, since the annual number of tourists exceed 500,000. While there are four adjacent villages around Abyaneh which can benefit from advantages of tourism. Local managers also can at the same time prorate the tourists’ flux of Abyaneh on those other villages especially in high-season. The other villages have some cultural and natural tourism attractions as well. Goal: The main goal of this study is to identify a feasible development strategy according to the current strengths, weaknesses, opportunities and threats of rural tourism in this area (Abyaneh Village and four adjacent villages). This development strategy can lead to sustainable management of these destinations. Method: To this end, we used SWOT analysis as a well-established tool for conducting a situational analysis to define a sustainable development strategy. The procedures included following steps: 1) Extracting variables of SWOT chart based on interviewing tourism experts (n=13), local elites (n=17) and personal observations of researcher. 2) Ranking the extracted variables from 1-5 by 13 tourism experts in Isfahan Cultural Heritage, Handcrafts and Tourism Organization (ICHTO). 3) Assigning weights to the ranked variables using Expert Choice Software and the method of Analytical Hierarchical Process (AHP). 4) Defining the Total Weighted Score (TWS) for each part of SWOT chart. 5) Identifying the strategic position according to the TWS 6) Selecting the best development strategy based on the defined position using the Strategic Position and Action Evaluation (SPACE) matrix. 7) Assessing the Probability of Strategic Success (PSS) for the preferred strategy using relevant formulas. 8) Defining two feasible alternatives for sustainable development. Results and recommendations: Cultural heritage attractions were first-ranked variable in strength chart and also lack of sufficient amenities for one-day tourists (catering, restrooms, parking, and accommodation) was firs-ranked weakness. The strategic position was in ST (Strength-Threat) quadrant which is a maxi-mini position. According this position we would suggest ‘Competitive Strategy’ as a development strategy which means relying on strengths in order to neutralization threats. The result of Probability of Strategic Success assessment which was 0.6 shows that this strategy could be successful. The preferred approach for competitive strategy could be rebranding the market of tourism in this area. Rebranding the market can be achieved by two main alternatives which are based on the current strengths and threats: 1) Defining a ‘Heritage Corridor’ from first adjacent village to Abyaneh as a final destination. 2) Focus on ‘educational tourism’ versus mass tourism and also green tourism by developing agritourism in that corridor.Keywords: Abyaneh village, rural tourism, SWOT analysis, sustainable strategies
Procedia PDF Downloads 3843279 Optimizing Design Parameters for Efficient Saturated Steam Production in Fire Tube Boilers: A Cost-Effective Approach
Authors: Yoftahe Nigussie Worku
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This research focuses on advancing fire tube boiler technology by systematically optimizing design parameters to achieve efficient saturated steam production. The main objective is to design a high-performance boiler with a production capacity of 2000kg/h at a 12-bar design pressure while minimizing costs. The methodology employs iterative analysis, utilizing relevant formulas, and considers material selection and production methods. The study successfully results in a boiler operating at 85.25% efficiency, with a fuel consumption rate of 140.37kg/hr and a heat output of 1610kW. Theoretical importance lies in balancing efficiency, safety considerations, and cost minimization. The research addresses key questions on parameter optimization, material choices, and safety-efficiency balance, contributing valuable insights to fire tube boiler design.Keywords: safety consideration, efficiency, production methods, material selection
Procedia PDF Downloads 663278 The Modulation of Self-interest Instruction on the Fair-Proposing Behavior in Ultimatum Game
Authors: N. S. Yen, T. H. Yang, W. H. Huang, Y. F. Fang, H. W. Cho
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Ultimatum game is an experimental paradigm to study human decision making. There are two players, a proposer and a responder, to split a fixed amount of money. According to the traditional economic theory on ultimatum game, proposer should propose the selfish offers to responder as much as possible to maximize proposer’s own outcomes. However, most evidences had showed that people chose more fair offers, hence two hypotheses – fairness favoring and strategic concern were proposed. In current study, we induced the motivation in participants to be either selfish or altruistic, and manipulated the task variables, the stake sizes (NT$100, 1000, 10000) and the share sizes (the 40%, 30%, 20%, 10% of the sum as selfish offers, and the 60%, 70%, 80%, 90% of the sum as altruistic offers), to examine the two hypotheses. The results showed that most proposers chose more fair offers with longer reaction times (RTs) no matter in choosing between the fair and selfish offers, or between the fair and altruistic offers. However, the proposers received explicit self-interest instruction chose more selfish offers accompanied with longer RTs in choosing between the fair and selfish offers. Therefore, the results supported the strategic concern hypothesis that previous proposers choosing the fair offers might be resulted from the fear of rejection by responders. Proposers would become more self-interest if the fear of being rejected is eliminated.Keywords: ultimatum game, proposer, self-interest, fear of rejection
Procedia PDF Downloads 3753277 Novel Bioinspired Design to Capture Smoky CO2 by Reactive Absorption with Aqueous Scrubber
Authors: J. E. O. Hernandez
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In the next 20 years, energy production by burning fuels will increase and so will the atmospheric concentration of CO2 and its well-known threats to life on Earth. The technologies available for capturing CO2 are still dubious and this keeps fostering an interest in bio-inspired approaches. The leading one is the application of carbonic anhydrase (CA) –a superfast biocatalyst able to convert up to one million molecules of CO2 into carbonates in water. However, natural CA underperforms when applied to real smoky CO2 in chimneys and, so far, the efforts to create superior CAs in the lab rely on screening methods running under pristine conditions at the micro level, which are far from resembling those in chimneys. For the evolution of man-made enzymes, selection rather than screening would be ideal but this is challenging because of the need for a suitable artificial environment that is also sustainable for our society. Herein we present the stepwise design and construction of a bioprocess (from bench-scale to semi-pilot) for evolutionary selection experiments. In this bioprocess, reaction and adsorption took place simultaneously at atmospheric pressure in a spray tower. The scrubbing solution was fed countercurrently by reusing municipal pressure and it was mainly prepared with water, carbonic anhydrase and calcium chloride. This bioprocess allowed for the enzymatic carbonation of smoky CO2; the reuse of process water and the recovery of solid carbonates without cooling of smoke, pretreatments, solvent amines and compression of CO2. The average yield of solid carbonates was 0.54 g min-1 or 12-fold the amount produced in serum bottles at lab bench scale. This bioprocess could be used as a tailor-made environment for driving the selection of superior CAs. The bioprocess and its match CA could be sustainably used to reduce global warming by CO2 emissions from exhausts.Keywords: biological carbon capture and sequestration, carbonic anhydrase, directed evolution, global warming
Procedia PDF Downloads 1933276 Identifying Applicant Potential Through Admissions Testing
Authors: Belinda Brunner
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Objectives: Communicate common test constructs of well-known higher education admissions tests. Discuss influences on admissions test construct definition and design and discuss research on related to factors influencing success in academic study. Discuss how admissions tests can be used to identify relevant talent. Examine how admissions test can be used to facilitate educational mobility and inform selection decisions when the prerequisite curricula is not standardized Observations: Generally speaking, constructs of admissions tests can be placed along a continuum from curriculum-related knowledge to more general reasoning abilities. For example, subject-specific achievement tests are more closely aligned to a prescribed curriculum, while reasoning tests are typically not associated with a specific curriculum. This session will draw reference from the test-constructs of well-known international higher education admissions tests, such as the UK clinical aptitude test (UKCAT) which is used for medicine and dentistry admissions. Conclusions: The purpose of academic admissions testing is to identify potential students with the prerequisite skills set needed to succeed in the academic environment, but how can the test construct help achieve this goal? Determination of the appropriate test construct for tests used in the admissions selection decisions should be influenced by a number of factors, including the preceding academic curricula, other criteria influencing the admissions decision, and the principal purpose for testing. Attendees of this session will learn the types of aptitudes and knowledge that are assessed higher education admissions tests and will have the opportunity to gain insight into how careful and deliberate consideration of the desired test constructs can aid in identifying potential students with the greatest likelihood of success in medical school.Keywords: admissions, measuring success, selection, identify skills
Procedia PDF Downloads 4883275 Application of Blockchain on Manufacturing Process Control and Pricing Policy
Authors: Chieh Lee
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Today, supply chain managers face extensive disruptions in raw material pricing, transportation block, and quality issue due to product complexity. While digitalization might help managers to mitigate the disruption risk and increase supply chain resilience by sharing information between sellers and buyers through the supply chain, entities are reluctant to build such a system. The main reason is it is not clear what information should be shared and who has access to the stored information. In this research, we propose a smart contract built by blockchain technology. This contract helps both buyer and seller to identify the type of information, the access to the information, and how to trace the information. This contract helps managers control their orders through the supply chain and address any disruption they see fit. Furthermore, with the same smart contract, the supplier can track the production process of an order and increase production efficiency by eliminating waste.Keywords: blockchain, production process, smart contract, supply chain resilience
Procedia PDF Downloads 793274 Reclaiming Corporate Social Responsibility: A Research Agenda for Socio-Industrial Interdependence
Authors: Leah Ritchie
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By many accounts, the most recent economic recession and subsequent lack-luster recovery has demonstrated that corporate social responsibility is in a state of crisis. This crisis represents an opportunity for CSR scholars to play a role in restoring long-term economic growth and consumer confidence. In its current state however, CSR may not be in a position to facilitate positive change. In an attempt to remain relevant, the field has shifted toward a performance-based agenda that demonstrates in practical terms, how CSR can positively affect the financial and strategic performance of the firm. This paper argues that if CSR is to play a central role in helping to create a more equitable balance of power between industry and society, it must demonstrate the symbiotic nature of the relationship between these two entities, not just in terms of compartmentalized strategic and financial gain for the firm, but also toward maintaining a 'do no harm' imperative. Given the evidence that harm done to society is ultimately turned back on the firm, this is not simply a moralistic imperative. In order to affect change, CSR must also create an activist agenda to raise consciousness among the general citizenry toward mobilizing, uncovering, and repairing breeches in the implicit social contract between business and society.Keywords: corporate social responsibility, multiple stakeholder view, economic recession, housing crisis
Procedia PDF Downloads 2143273 The Indicators of Excellent Supply Chain Management by Selected Companies in Ethiopia: A Comparative Qualitative Approach in Coca-Cola and Yousran International
Authors: Abdikarim Barqadle Igale
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The main objective of this study is to find out the indicators of excellent supply chain management based on game theory. The study employed a survey design to collect data. A total of 268 respondents participated in this research. The results indicate that both companies (Coca-cola & Yousran International) managed to effectively use the physical and information flows but were different from the focus on the items in the two key areas. The Coca-cola, for instance, sustained to utilize the flows of excellent planning, starting from row materials, timing, transformation, transportation, and storage of goods to reach consumer’s hands on one side and solid linkage to strategic partners to plan and work together for long-term control of better day-to-day supply chains of goods and materials down to customers’ consumption on the other. Meanwhile, the Yousran International heavily concentrated on the physical side with moderate rapports with strategic partners for long-term improvement on supply chain. The study proposes that strong combination of effective use of both physical and information flows are good indicators of better supply chain management in today’s emerging companies.Keywords: game theory, physical flow, supply chain management, indicators
Procedia PDF Downloads 2853272 Optimized Weight Selection of Control Data Based on Quotient Space of Multi-Geometric Features
Authors: Bo Wang
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The geometric processing of multi-source remote sensing data using control data of different scale and different accuracy is an important research direction of multi-platform system for earth observation. In the existing block bundle adjustment methods, as the controlling information in the adjustment system, the approach using single observation scale and precision is unable to screen out the control information and to give reasonable and effective corresponding weights, which reduces the convergence and adjustment reliability of the results. Referring to the relevant theory and technology of quotient space, in this project, several subjects are researched. Multi-layer quotient space of multi-geometric features is constructed to describe and filter control data. Normalized granularity merging mechanism of multi-layer control information is studied and based on the normalized scale factor, the strategy to optimize the weight selection of control data which is less relevant to the adjustment system can be realized. At the same time, geometric positioning experiment is conducted using multi-source remote sensing data, aerial images, and multiclass control data to verify the theoretical research results. This research is expected to break through the cliché of the single scale and single accuracy control data in the adjustment process and expand the theory and technology of photogrammetry. Thus the problem to process multi-source remote sensing data will be solved both theoretically and practically.Keywords: multi-source image geometric process, high precision geometric positioning, quotient space of multi-geometric features, optimized weight selection
Procedia PDF Downloads 2843271 Using Machine Learning Techniques for Autism Spectrum Disorder Analysis and Detection in Children
Authors: Norah Mohammed Alshahrani, Abdulaziz Almaleh
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Autism Spectrum Disorder (ASD) is a condition related to issues with brain development that affects how a person recognises and communicates with others which results in difficulties with interaction and communication socially and it is constantly growing. Early recognition of ASD allows children to lead safe and healthy lives and helps doctors with accurate diagnoses and management of conditions. Therefore, it is crucial to develop a method that will achieve good results and with high accuracy for the measurement of ASD in children. In this paper, ASD datasets of toddlers and children have been analyzed. We employed the following machine learning techniques to attempt to explore ASD and they are Random Forest (RF), Decision Tree (DT), Na¨ıve Bayes (NB) and Support Vector Machine (SVM). Then Feature selection was used to provide fewer attributes from ASD datasets while preserving model performance. As a result, we found that the best result has been provided by the Support Vector Machine (SVM), achieving 0.98% in the toddler dataset and 0.99% in the children dataset.Keywords: autism spectrum disorder, machine learning, feature selection, support vector machine
Procedia PDF Downloads 1523270 Option Pricing Theory Applied to the Service Sector
Authors: Luke Miller
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This paper develops an options pricing methodology to value strategic pricing strategies in the services sector. More specifically, this study provides a unifying taxonomy of current service sector pricing practices, frames these pricing decisions as strategic real options, demonstrates accepted option valuation techniques to assess service sector pricing decisions, and suggests future research areas where pricing decisions and real options overlap. Enhancing revenue in the service sector requires proactive decision making in a world of uncertainty. In an effort to strategically price service products, revenue enhancement necessitates a careful study of the service costs, customer base, competition, legalities, and shared economies with the market. Pricing decisions involve the quality of inputs, manpower, and best practices to maintain superior service. These decisions further hinge on identifying relevant pricing strategies and understanding how these strategies impact a firm’s value. A relatively new area of research applies option pricing theory to investments in real assets and is commonly known as real options. The real options approach is based on the premise that many corporate decisions to invest or divest in assets are simply an option wherein the firm has the right to make an investment without any obligation to act. The decision maker, therefore, has more flexibility and the value of this operating flexibility should be taken into consideration. The real options framework has already been applied to numerous areas including manufacturing, inventory, natural resources, research and development, strategic decisions, technology, and stock valuation. Additionally, numerous surveys have identified a growing need for the real options decision framework within all areas of corporate decision-making. Despite the wide applicability of real options, no study has been carried out linking service sector pricing decisions and real options. This is surprising given the service sector comprises 80% of the US employment and Gross Domestic Product (GDP). Identifying real options as a practical tool to value different service sector pricing strategies is believed to have a significant impact on firm decisions. This paper identifies and discusses four distinct pricing strategies available to the service sector from an options’ perspective: (1) Cost-based profit margin, (2) Increased customer base, (3) Platform pricing, and (4) Buffet pricing. Within each strategy lie several pricing tactics available to the service firm. These tactics can be viewed as options the decision maker has to best manage a strategic position in the market. To demonstrate the effectiveness of including flexibility in the pricing decision, a series of pricing strategies were developed and valued using a real options binomial lattice structure. The options pricing approach discussed in this study allows service firms to directly incorporate market-driven perspectives into the decision process and thus synchronizing service operations with organizational economic goals.Keywords: option pricing theory, real options, service sector, valuation
Procedia PDF Downloads 3553269 GIS Model for Sanitary Landfill Site Selection Based on Geotechnical Parameters
Authors: Hecson Christian, Joel Macwan
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Landfill site selection in an urban area is a critical issue in the planning process. With the growth of the urbanization, it has a mammoth impact on the economy, ecology, and environmental health of the region. Outsized amount of wastes are produced and the problem gets soared every day. Hence, selection of ideal site for sanitary landfill is a challenge for urban planners and solid waste managers. Disposal site is a function of many parameters. Among all, Geotechnical parameters are very vital as the same is related to surrounding open land. Moreover, the accessible safe and acceptable land is also scarce. Therefore, in this paper geotechnical parameters are used to develop a GIS model to identify an ideal location for landfill purpose. Metropolitan city of Surat is highly populated and fastest growing urban area in India. The research objectives are to conduct field experiments to collect data and to transfer the facts in GIS platform to evolve a model, to find ideal location. Planners’ preferences were obtained to use analytical hierarchical process (AHP) to find weights of each parameter. Integration of GIS and Multi-Criteria Decision Analysis (MCDA) techniques are applied to improve decision-making. It augments an environment for transformation and combination of geographical data and planners’ preferences. GIS performs deterministic overlay and buffer operations. MCDA methods evaluate alternatives based on the decision makers’ subjective values and priorities. Research results have shown many alternative locations. Economic analysis of selected site from actual operations point of view is not included in this research.Keywords: GIS, AHP, MCDA, Geo-technical
Procedia PDF Downloads 1453268 Modular Data and Calculation Framework for a Technology-based Mapping of the Manufacturing Process According to the Value Stream Management Approach
Authors: Tim Wollert, Fabian Behrendt
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Value Stream Management (VSM) is a widely used methodology in the context of Lean Management for improving end-to-end material and information flows from a supplier to a customer from a company’s perspective. Whereas the design principles, e.g. Pull, value-adding, customer-orientation and further ones are still valid against the background of an increasing digitalized and dynamic environment, the methodology itself for mapping a value stream is characterized as time- and resource-intensive due to the high degree of manual activities. The digitalization of processes in the context of Industry 4.0 enables new opportunities to reduce these manual efforts and make the VSM approach more agile. The paper at hand aims at providing a modular data and calculation framework, utilizing the available business data, provided by information and communication technologies for automizing the value stream mapping process with focus on the manufacturing process.Keywords: lean management 4.0, value stream management (VSM) 4.0, dynamic value stream mapping, enterprise resource planning (ERP)
Procedia PDF Downloads 1503267 Using New Machine Algorithms to Classify Iranian Musical Instruments According to Temporal, Spectral and Coefficient Features
Authors: Ronak Khosravi, Mahmood Abbasi Layegh, Siamak Haghipour, Avin Esmaili
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In this paper, a study on classification of musical woodwind instruments using a small set of features selected from a broad range of extracted ones by the sequential forward selection method was carried out. Firstly, we extract 42 features for each record in the music database of 402 sound files belonging to five different groups of Flutes (end blown and internal duct), Single –reed, Double –reed (exposed and capped), Triple reed and Quadruple reed. Then, the sequential forward selection method is adopted to choose the best feature set in order to achieve very high classification accuracy. Two different classification techniques of support vector machines and relevance vector machines have been tested out and an accuracy of up to 96% can be achieved by using 21 time, frequency and coefficient features and relevance vector machine with the Gaussian kernel function.Keywords: coefficient features, relevance vector machines, spectral features, support vector machines, temporal features
Procedia PDF Downloads 3213266 Role of Vigilante in Crime Control in Bodija Market
Authors: Obadiah Nwabueze
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Bodija market is classified as Central Business District (CBD) of Ibadan North Local Government Area of Oyo State (Nigeria) because of socio economic activities, so Crime is a peculiar social issue that causes insecurity. The law enforcement agencies tasked with crime prevention and control such as the Nigerian Police have insufficient manpower, and a resultant effect is the emergence of Vigilante groups as citizen’s response to crime control and prevention (self-help). The research design adopted for this study is a case study design exploring Vigilante activities in Bodija Market. The study utilizes both quantitative and qualitative approach, sources of data includes primary and secondary sources. A sample of 127 respondents randomly picked from the 4 sections of Bodija Market through questionnaire, comprising of 50 male and 77 females which alienates issues of gender bias in addition to the 4 in-depth interview, making a total of 131 respondents. Statistical package for Social Sciences (SPSS) was used. The descriptive statistics of simple frequency, percentage, charts and graphs were computed for the analysis. Finding in the study shows that the market vigilante is able to deter and disrupt criminal activities through strategic spiritual intelligence (SSI), use of charm and juju, physical presence in strategic locations vulnerable to crime occurrence. Findings in the study also show that vigilantes collaborate with the police by assisting them in surveillance, tracking down criminals, identifying black spots, acting as informants to the police, arrest and handover criminal to police. Their challenges include poor equipment, motivation, unhealthy rivalry between the vigilante and the police. The study recommends that the government should support vigilantes with logistics and training, including patrol vehicle and radio communication. The study also recommends the integration of the informal mechanism (juju and charm) of crime detection and prevention into the formal policing strategy, an office should be created in the force commands for use of SSI.Keywords: central business district, CBD, charm, Juju, strategic spiritual intelligence, SSI
Procedia PDF Downloads 2503265 The Strategic Gas Aggregator: A Key Legal Intervention in an Evolving Nigerian Natural Gas Sector
Authors: Olanrewaju Aladeitan, Obiageli Phina Anaghara-Uzor
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Despite the abundance of natural gas deposits in Nigeria and the immense potential, this presents both for the domestic and export oriented revenue, there exists an imbalance in the preference for export as against the development and optimal utilization of natural gas for the domestic industry. Considerable amounts of gas are still being wasted by flaring in the country to this day. Although the government has set in place initiatives to harness gas at the flare and thereby reduce volumes flared, the gas producers would rather direct the gas produced to the export market whereas gas apportioned to the domestic market is often marred by the low domestic gas price which is often discouraging to the gas producers. The exported fraction of gas production no doubt yields healthy revenues for the government and an encouraging return on investment for the gas producers and for this reason export sales remain enticing and preferable to the domestic sale of gas. This export pull impacts negatively if left unchecked, on the domestic market which is in no position to match the price at the international markets. The issue of gas price remains critical to the optimal development of the domestic gas industry, in that it comprises the basis for investment decisions of the producers on the allocation of their scarce resources and to what project to channel their output in order to maximize profit. In order then to rebalance the domestic industry and streamline the market for gas, the Gas Aggregation Company of Nigeria, also known as the Strategic Aggregator was proposed under the Nigerian Gas Master Plan of 2008 and then established pursuant to the National Gas Supply and Pricing Regulations of 2008 to implement the domestic gas supply obligation which focuses on ramping-up gas volumes for domestic utilization by mandatorily requiring each gas producer to dedicate a portion of its gas production for domestic utilization before having recourse to the export market. The 2008 Regulations further stipulate penalties in the event of non-compliance. This study, in the main, assesses the adequacy of the legal framework for the Nigerian Gas Industry, given that the operational laws are structured more for oil than its gas counterpart; examine the legal basis for the Strategic Aggregator in the light of the Domestic Gas Supply and Pricing Policy 2008 and the National Domestic Gas Supply and Pricing Regulations 2008 and makes a case for a review of the pivotal role of the Aggregator in the Nigerian Gas market. In undertaking this assessment, the doctrinal research methodology was adopted. Findings from research conducted reveal the reawakening of the Federal Government to the immense potential of its gas industry as a critical sector of its economy and the need for a sustainable domestic natural gas market. A case for the review of the ownership structure of the Aggregator to comprise a balanced mix of the Federal Government, gas producers and other key stakeholders in order to ensure the effective implementation of the domestic supply obligations becomes all the more imperative.Keywords: domestic supply obligations, natural gas, Nigerian gas sector, strategic gas aggregator
Procedia PDF Downloads 2263264 Small and Medium Sized Ports between Specialisation and Diversification: A Framework Tool for Sustainable Development
Authors: Christopher Meyer, Laima Gerlitz
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European ports are facing high political pressure through the implementation of initiatives such as the European Green Deal or IMO's 2030 targets (Fit for 55). However, small and medium-sized ports face even higher challenges compared to bigger ones due to lower capacities in various fields such as investments, infra-structure, Human Resources, and funding opportunities. Small and Medium-Sized Ports (SMPs) roles in economic systems are various depending on their specific functionality in maritime ecosystems. Depending on their different situations, being an actor in multiport gateways, aligned to core ports, regional nodes in peripheries for the hinterland, specialized cluster members, or logistical nodes, different strategic business models may be applied to increase SMPs' competitiveness among other bigger ports. Additionally, SMPs are facing more challenges for future development in terms of digital and green transition of their operations. Thus, it is necessary to evaluate the own strategical position and apply management strategies alongside the regional growth and innovation strategies for diversification or specialisation of own port businesses. The research uses inductive perspectives to set up a transferable framework based on case studies to be analysed. In line with particular research and document analysis, qualitative approaches were considered. The research is based on a deep literature review on SMPs as well as theories on diversification and specialisation. Existing theories from different fields are evaluated on their application for the port sector and these specific maritime actors, paying respect to enabling innovation incorporation to enhance digital and environmental transition with fu-ture perspectives for SMPs. The paper aims to provide a decision-making matrix for the strategic positioning of SMPs in Europe, including opportunities to get access to particular EU funds for future development alongside the Regional In-novation Strategies on Smart Specialisation.Keywords: strategic planning, sustainability transition, competitiveness portfolio, EU green deal
Procedia PDF Downloads 793263 Operational Guidelines for Six-Sigma Implementation: Survey of Indian Medium Scale Automotive Industries
Authors: Rajeshkumar U. Sambhe
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Large scale Indian manufacturers started implementing Six Sigma to their supply core to fulfill the endless need of high quality products. As well, they initiated encouraging their suppliers to apply the well-ascertain SS management practice and kept no resource for supplier enterprises, generally small midsized enterprises to think for the admittance of Six Sigma as a quality promotion drive. There are many issues to study for requisite changes before the introduction of Six Sigma in auto SMEs. This paper converges on impeding factors while implementing SS drive and also pinpoints the gains achieved through successful implementation. The result of this study suggest some operational guidelines for effective implementation of Six Sigma from evidences acquired through research questionnaire and interviews with industrial professionals, apportioned to assort auto sector mid-sized enterprises (MSEs) in India.Keywords: indian automotive SMEs, quality management practices, six sigma imperatives, problems faced in six sigma implementation, benefits, some guidelines for implementation
Procedia PDF Downloads 4073262 Selection of Intensity Measure in Probabilistic Seismic Risk Assessment of a Turkish Railway Bridge
Authors: M. F. Yilmaz, B. Ö. Çağlayan
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Fragility curve is an effective common used tool to determine the earthquake performance of structural and nonstructural components. Also, it is used to determine the nonlinear behavior of bridges. There are many historical bridges in the Turkish railway network; the earthquake performances of these bridges are needed to be investigated. To derive fragility curve Intensity measures (IMs) and Engineering demand parameters (EDP) are needed to be determined. And the relation between IMs and EDP are needed to be derived. In this study, a typical simply supported steel girder riveted railway bridge is studied. Fragility curves of this bridge are derived by two parameters lognormal distribution. Time history analyses are done for selected 60 real earthquake data to determine the relation between IMs and EDP. Moreover, efficiency, practicality, and sufficiency of three different IMs are discussed. PGA, Sa(0.2s) and Sa(1s), the most common used IMs parameters for fragility curve in the literature, are taken into consideration in terms of efficiency, practicality and sufficiency.Keywords: railway bridges, earthquake performance, fragility analyses, selection of intensity measures
Procedia PDF Downloads 3573261 Simple Multiple-Attribute Rating Technique for Optimal Decision-Making Model on Selecting Best Spiker of World Grand Prix
Authors: Chen Chih-Cheng, Chen I-Cheng, Lee Yung-Tan, Kuo Yen-Whea, Yu Chin-Hung
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The purpose of this study is to construct a model for best spike player selection in a top volleyball tournament of the world. Data consisted of the records of 2013 World Grand Prix declared by International Volleyball Federation (FIVB). Simple Multiple-Attribute Rating Technique (SMART) was used for optimal decision-making model on the best spike player selection. The research results showed that the best spike player ranking by SMART is different than the ranking by FIVB. The results demonstrated the effectiveness and feasibility of the proposed model.Keywords: simple multiple-attribute rating technique, World Grand Prix, best spike player, International Volleyball Federation
Procedia PDF Downloads 4743260 Investigation of Additives' Corrosion Inhibition Effects on Dye
Authors: Abdullah Bilal Ozturk, Nil Acarali, Hediye Irem Ozgunduz, Hava Gizem Kandilci, Hanifi Sarac
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In this study, zeolite, shellac and different boron chemicals were used as additive to dye and effects were comprehensively investigated. Considering previous studies additive materials that had not used before were determined for produce dye with physical properties. Literature research about the materials provides determining easily sufficient amount of additive materials. Accessible of additives or yearly production amounts are become important issue at selection of materials. Zeolite and boron chemicals are suitable selection in that easy access and has large amount of production in our country. Previous research about boron chemicals shows they have flame retardant effect on textile materials besides numerous usage areas. Also, from previous research, shellac was used widely for protection and insulation of metallic materials. Zeolite added to dye to increase adhesive effect of dye. In this study, corrosion tests were applied to find out if there are positive effects of zeolite, shellac, and boron chemicals to dye’s physical properties.Keywords: dye, corrosion, zeolite, shellac, boron
Procedia PDF Downloads 3383259 Consumers’ Willingness to Pay for Organic Vegetables in Oyo State
Authors: Olanrewaju Kafayat, O., Salman Kabir, K.
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The role of organic agriculture in providing food and income is now gaining wider recognition (Van Elzakker et al 2007). The increasing public concerns about food safety issues on the use of fertilizers, pesticide residues, growth hormones, GM organisms, and increasing awareness of environmental quality issues have led to an expanding demand for environmentally friendly products (Thompson, 1998; Rimal et al., 2005). As a result national governments are concerned about diet and health, and there has been renewed recognition of the role of public policy in promoting healthy diets, thus to provide healthier, safer, more confident citizens (Poole et al., 2007), With these benefits, a study into organic vegetables is very vital to all the major stakeholders. This study analyzed the willingness of consumers to pay for organic vegetables in Oyo state, Nigeria. Primary data was collected with the aid of structured questionnaire administered to 168 respondents. These were selected using multistage random sampling. The first stage involved the selection two (2) ADP zones out of the three (3) ADP zones in Oyo state, The second stage involved the random selection of two (2) local government areas each out of the two (2) ADP zones which are; Ibadan South West and Ogbomoso North and random selection of 4 wards each from the local government areas. The third stage involved random selection of 42 household each from of the local government areas. Descriptive statistics, the principal component analysis, and the logistic regression were used to analyze the data. Results showed 55 percent of the respondents were female while 80 percent were 50 years. 74 percent of the respondents agreed that organic vegetables are of better quality. 31 percent of the respondents were aware of organic vegetables as against 69 percent who were not aware. From the logistic model, educational attainment, amount spent on organic vegetables monthly, better quality of organic vegetables and accessibility to organic vegetables were significant and had a positive relationship on willingness to pay for organic vegetable. The variables that were significant and had a negative relationship with WTP are less attractiveness of organic vegetables and household size of the respondents. This study concludes that consumers with higher level of education were more likely to be aware and willing to pay for organic vegetables than those with low levels of education, the study therefore recommends creation of awareness on the relevance of consuming organic vegetables through effective marketing and educational campaigns.Keywords: consumers awareness, willingness to pay, organic vegetables, Oyo State
Procedia PDF Downloads 2713258 Machine Learning for Feature Selection and Classification of Systemic Lupus Erythematosus
Authors: H. Zidoum, A. AlShareedah, S. Al Sawafi, A. Al-Ansari, B. Al Lawati
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Systemic lupus erythematosus (SLE) is an autoimmune disease with genetic and environmental components. SLE is characterized by a wide variability of clinical manifestations and a course frequently subject to unpredictable flares. Despite recent progress in classification tools, the early diagnosis of SLE is still an unmet need for many patients. This study proposes an interpretable disease classification model that combines the high and efficient predictive performance of CatBoost and the model-agnostic interpretation tools of Shapley Additive exPlanations (SHAP). The CatBoost model was trained on a local cohort of 219 Omani patients with SLE as well as other control diseases. Furthermore, the SHAP library was used to generate individual explanations of the model's decisions as well as rank clinical features by contribution. Overall, we achieved an AUC score of 0.945, F1-score of 0.92 and identified four clinical features (alopecia, renal disorders, cutaneous lupus, and hemolytic anemia) along with the patient's age that was shown to have the greatest contribution on the prediction.Keywords: feature selection, classification, systemic lupus erythematosus, model interpretation, SHAP, Catboost
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