Search results for: cost effectiveness
8829 Design of a Low Cost Programmable LED Lighting System
Authors: S. Abeysekera, M. Bazghaleh, M. P. L. Ooi, Y. C. Kuang, V. Kalavally
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Smart LED-based lighting systems have significant advantages over traditional lighting systems due to their capability of producing tunable light spectrums on demand. The main challenge in the design of smart lighting systems is to produce sufficient luminous flux and uniformly accurate output spectrum for sufficiently broad area. This paper outlines the programmable LED lighting system design principles of design to achieve the two aims. In this paper, a seven-channel design using low-cost discrete LEDs is presented. Optimization algorithms are used to calculate the number of required LEDs, LEDs arrangements and optimum LED separation distance. The results show the illumination uniformity for each channel. The results also show that the maximum color error is below 0.0808 on the CIE1976 chromaticity scale. In conclusion, this paper considered the simulation and design of a seven-channel programmable lighting system using low-cost discrete LEDs to produce sufficient luminous flux and uniformly accurate output spectrum for sufficiently broad area.Keywords: light spectrum control, LEDs, smart lighting, programmable LED lighting system
Procedia PDF Downloads 1878828 Effectiveness of Micania micrantha Extract on Woven Wound Dressing Materials
Authors: Md. Lutfor Rahman, Shaikh Md. Mominul Alam
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Sometimes it causes external bleeding when human skin gets seriously injured. Natural source-based blood-clotting bandages are rarely used. The available chemically treated blood clotting materials sometimes show adverse effects and are not effective in quick recovery. Considering these facts, a new blood clotting woven wound dressing product has been developed which is a combination of Micania micrantha extract with woven fabric by absorption process. This product can be represented as an important addition to medical textiles. To develop a dressing material, Micania micrantha leaf juice was applied on bleached woven fabric, followed by sun drying. The effectiveness of this woven sample was tested on volunteers. It was observed that Micania micrantha containing woven sample has a tremendous effect over conventional wound dressing materials. This result is a milestone for the textile and medical sector.Keywords: blood clotting, Micania micrantha, medical textiles, woven fabric
Procedia PDF Downloads 1318827 Policy Effectiveness in the Situation of Economic Recession
Authors: S. K. Ashiquer Rahman
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The proper policy handling might not able to attain the target since some of recessions, e.g., pandemic-led crises, the variables shocks of the economics. At the level of this situation, the Central bank implements the monetary policy to choose increase the exogenous expenditure and level of money supply consecutively for booster level economic growth, whether the monetary policy is relatively more effective than fiscal policy in altering real output growth of a country or both stand for relatively effective in the direction of output growth of a country. The dispute with reference to the relationship between the monetary policy and fiscal policy is centered on the inflationary penalty of the shortfall financing by the fiscal authority. The latest variables socks of economics as well as the pandemic-led crises, central banks around the world predicted just about a general dilemma in relation to increase rates to face the or decrease rates to sustain the economic movement. Whether the prices hang about fundamentally unaffected, the aggregate demand has also been hold a significantly negative attitude by the outbreak COVID-19 pandemic. To empirically investigate the effects of economics shocks associated COVID-19 pandemic, the paper considers the effectiveness of the monetary policy and fiscal policy that linked to the adjustment mechanism of different economic variables. To examine the effects of economics shock associated COVID-19 pandemic towards the effectiveness of Monetary Policy and Fiscal Policy in the direction of output growth of a Country, this paper uses the Simultaneous equations model under the estimation of Two-Stage Least Squares (2SLS) and Ordinary Least Squares (OLS) Method.Keywords: IS-LM framework, pandemic. Economics variables shocks, simultaneous equations model, output growth
Procedia PDF Downloads 958826 A Comparative Evaluation on the Quality of Products and Quality of Services of the Five Selected Fast Food Restaurants in Manila
Authors: M. Pagasa Nanette Rotairo
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The research focuses on the effectiveness, responsiveness, adequacy, and appropriateness of customer service of selected fast food restaurant using William Dunn’s four evaluation criteria tantamount to the focus of the research. Due to efficiency the fast food restaurants offer and the increasing demand for acquiring its services, the researcher conducted a study on the effectiveness of customer service of five popular restaurants in Metro Manila. Using descriptive method, the research is furthered in par with evaluation and implementation of different instruments effective for data gathering to further scientific judgment. Results of this research indicate that consumers consider the quality service as the major reason in patronizing fast food restaurants while they consider cleanliness and customer satisfaction as their least concern. Details of this study provided support on how the proposed operational model can further improve the services of fast food restaurants.Keywords: customer satisfaction, customer service, restaurant management, business operations
Procedia PDF Downloads 2108825 Economic Evaluation Offshore Wind Project under Uncertainly and Risk Circumstances
Authors: Sayed Amir Hamzeh Mirkheshti
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Offshore wind energy as a strategic renewable energy, has been growing rapidly due to availability, abundance and clean nature of it. On the other hand, budget of this project is incredibly higher in comparison with other renewable energies and it takes more duration. Accordingly, precise estimation of time and cost is needed in order to promote awareness in the developers and society and to convince them to develop this kind of energy despite its difficulties. Occurrence risks during on project would cause its duration and cost constantly changed. Therefore, to develop offshore wind power, it is critical to consider all potential risks which impacted project and to simulate their impact. Hence, knowing about these risks could be useful for the selection of most influencing strategies such as avoidance, transition, and act in order to decrease their probability and impact. This paper presents an evaluation of the feasibility of 500 MV offshore wind project in the Persian Gulf and compares its situation with uncertainty resources and risk. The purpose of this study is to evaluate time and cost of offshore wind project under risk circumstances and uncertain resources by using Monte Carlo simulation. We analyzed each risk and activity along with their distribution function and their effect on the project.Keywords: wind energy project, uncertain resources, risks, Monte Carlo simulation
Procedia PDF Downloads 3528824 Treating Global Trauma: Pandemic, Wars and Beyond. Somatically Based Psychotherapy Interventions as a “Bottom-Up” Approach to Improving the Effectiveness of PTSD Treatment While Preventing Clinicians’ Burnout
Authors: Nina Kaufmans
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Traditional therapies, utilizing spoken narratives as a primary source of intervention, are proven to be limited in effectively treating post traumatic stress disorder. Following the effects of the global pandemic of COVID-19, an increasing number of mental health consumers are beginning to experience somatically-based distress in addition to existing mental health symptoms. Moreover, the aftermath of the rapid increase in demand for mental health services has caused significant burnout in mental health professionals. This paper explores the ramifications of recent changes and challenges in the mental health demands and subsequent response and its consequences for mental health workers. We will begin by investigating the neurobiological mechanisms involved in traumatic experiences, then discuss the premises for "bottom-up" or somatically oriented psychotherapy approaches, and finally offer clinical skills and interventions for clients diagnosed with post traumatic stress disorder. In addition, we will discuss how somatically-based psychotherapy interventions implemented in sessions may decrease burnout and improve the well-being of clinicians. We will discuss how the integration of somatically-based interventions into counseling would increase the effectiveness of mental health recovery and sustain remission while simultaneously providing opportunities for self-care for mental health professionals.Keywords: somatic psychotherapy interventions, trauma counseling, preventing and treating burnout, adults with PTSD, bottom-up skills, the effectiveness of trauma treatment
Procedia PDF Downloads 808823 The Profitability Management Mechanism of Leather Industry-Based on the Activity-Based Benefit Approach
Authors: Mei-Fang Wu, Shu-Li Wang, Tsung-Yueh Lu, Feng-Tsung Cheng
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Strengthening core competitiveness is the main goal of enterprises in a fierce competitive environment. Accurate cost information is a great help for managers in dealing with operation strategies. This paper establishes a profitability management mechanism that applies the Activity-Based Benefit approach (ABBA) to solve the profitability for each customer from the market. ABBA provides financial and non-financial information for the operation, but also indicates what resources have expired in the operational process. The customer profit management model shows the level of profitability of each customer for the company. The empirical data were gathered from a case company operating in the leather industry in Taiwan. The research findings indicate that 30% of customers create little profit for the company as a result of asking for over 5% of sales discounts. Those customers ask for sales discount because of color differences of leather products. This paper provides a customer’s profitability evaluation mechanism to help enterprises to greatly improve operating effectiveness and promote operational activity efficiency and overall operation profitability.Keywords: activity-based benefit approach, customer profit analysis, leather industry, profitability management mechanism
Procedia PDF Downloads 3078822 Economic Load Dispatch with Valve-Point Loading Effect by Using Differential Evolution Immunized Ant Colony Optimization Technique
Authors: Nur Azzammudin Rahmat, Ismail Musirin, Ahmad Farid Abidin
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Economic load dispatch is performed by the utilities in order to determine the best generation level at the most feasible operating cost. In order to guarantee satisfying energy delivery to the consumer, a precise calculation of generation level is required. In order to achieve accurate and practical solution, several considerations such as prohibited operating zones, valve-point effect and ramp-rate limit need to be taken into account. However, these considerations cause the optimization to become complex and difficult to solve. This research focuses on the valve-point effect that causes ripple in the fuel-cost curve. This paper also proposes Differential Evolution Immunized Ant Colony Optimization (DEIANT) in solving economic load dispatch problem with valve-point effect. Comparative studies involving DEIANT, EP and ACO are conducted on IEEE 30-Bus RTS for performance assessments. Results indicate that DEIANT is superior to the other compared methods in terms of calculating lower operating cost and power loss.Keywords: ant colony optimization (ACO), differential evolution (DE), differential evolution immunized ant colony optimization (DEIANT), economic load dispatch (ELD)
Procedia PDF Downloads 4468821 Assessing the Feasibility of Commercial Meat Rabbit Production in the Kumasi Metropolis of Ghana
Authors: Nana Segu Acquaah-Harrison, James Osei Mensah, Richard Aidoo, David Amponsah, Amy Buah, Gilbert Aboagye
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The study aimed at assessing the feasibility of commercial meat rabbit production in the Kumasi Metropolis of Ghana. Structured and unstructured questionnaires were utilized in obtaining information from two hundred meat consumers and 15 meat rabbit farmers. Data were analyzed using Net Present Value (NPV), Internal Rate of Return (IRR), Benefit Cost Ratio (BCR)/Profitability Index (PI) technique, percentages and chi-square contingency test. The study found that the current demand for rabbit meat is low (36%). The desirable nutritional attributes of rabbit meat and other socio economic factors of meat consumers make the potential demand for rabbit meat high (69%). It was estimated that GH¢5,292 (approximately $ 2672) was needed as a start-up capital for a 40-doe unit meat rabbit farm in Kumasi Metropolis. The cost of breeding animals, housing and equipment formed 12.47%, 53.97% and 24.87% respectively of the initial estimated capital. A Net Present Value of GH¢ 5,910.75 (approximately $ 2984) was obtained at the end of the fifth year, with an internal rate return and profitability index of 70% and 1.12 respectively. The major constraints identified in meat rabbit production were low price of rabbit meat, shortage of fodder, pest and diseases, high cost of capital, high cost of operating materials and veterinary care. Based on the analysis, it was concluded that meat rabbit production is feasible in the Kumasi Metropolis of Ghana. The study recommends embarking on mass advertisement; farmer association and adapting to new technologies in the production process will help to enhance productivity.Keywords: feasibility, commercial meat rabbit, production, Kumasi, Ghana
Procedia PDF Downloads 1328820 Comparison of Homogeneous and Micro-Mechanical Modelling Approach for Paper Honeycomb Materials
Authors: Yiğit Gürler, Berkay Türkcan İmrağ, Taylan Güçkıran, İbrahim Şimşek, Alper Taşdemirci
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Paper honeycombs, which is a sandwich structure, consists of two liner faces and one paper honeycomb core. These materials are widely used in the packaging industry due to their low cost, low weight, good energy absorption capabilities and easy recycling properties. However, to provide maximum protection to the products in cases such as the drop of the packaged products, the mechanical behavior of these materials should be well known at the packaging design stage. In this study, the necessary input parameters for the modeling study were obtained by performing compression tests in the through-thickness and in-plane directions of paper-based honeycomb sandwich structures. With the obtained parameters, homogeneous and micro-mechanical numerical models were developed in the Ls-Dyna environment. The material card used for the homogeneous model is MAT_MODIFIED_HONEYCOMB, and the material card used for the micromechanical model is MAT_PIECEWISE_LINEAR_PLASTICITY. As a result, the effectiveness of homogeneous and micromechanical modeling approaches for paper-based honeycomb sandwich structure was investigated using force-displacement curves. Densification points and peak points on these curves will be compared.Keywords: environmental packaging, mechanical characterization, Ls-Dyna, sandwich structure
Procedia PDF Downloads 2008819 Catastrophic Health Expenditures: Evaluating the Effectiveness of Nepal's National Health Insurance Program Using Propensity Score Matching and Doubly Robust Methodology
Authors: Simrin Kafle, Ulrika Enemark
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Catastrophic health expenditure (CHE) is a critical issue in low- and middle-income countries like Nepal, exacerbating financial hardship among vulnerable households. This study assesses the effectiveness of Nepal’s National Health Insurance Program (NHIP), launched in 2015, to reduce out-of-pocket (OOP) healthcare costs and mitigate CHE. Conducted in Pokhara Metropolitan City, the study used an analytical cross-sectional design, sampling 1276 households through a two-stage random sampling method. Data was collected via face-to-face interviews between May and October 2023. The analysis was conducted using SPSS version 29, incorporating propensity score matching to minimize biases and create comparable groups of enrolled and non-enrolled households in the NHIP. PSM helped reduce confounding effects by matching households with similar baseline characteristics. Additionally, a doubly robust methodology was employed, combining propensity score adjustment with regression modeling to enhance the reliability of the results. This comprehensive approach ensured a more accurate estimation of the impact of NHIP enrollment on CHE. Among the 1276 samples, 534 households (41.8%) were enrolled in NHIP. Of them, 84.3% of households renewed their insurance card, though some cited long waiting times, lack of medications, and complex procedures as barriers to renewal. Approximately 57.3% of households reported known diseases before enrollment, with 49.8% attending routine health check-ups in the past year. The primary motivation for enrollment was encouragement from insurance employees (50.2%). The data indicates that 12.5% of enrolled households experienced CHE versus 7.5% among non-enrolled. Enrollment into NHIP does not contribute to lower CHE (AOR: 1.98, 95% CI: 1.21-3.24). Key factors associated with increased CHE risk were presence of non-communicable diseases (NCDs) (AOR: 3.94, 95% CI: 2.10-7.39), acute illnesses/injuries (AOR: 6.70, 95% CI: 3.97-11.30), larger household size (AOR: 3.09, 95% CI: 1.81-5.28), and households below the poverty line (AOR: 5.82, 95% CI: 3.05-11.09). Other factors such as gender, education level, caste/ethnicity, presence of elderly members, and under-five children also showed varying associations with CHE, though not all were statistically significant. The study concludes that enrollment in the NHIP does not significantly reduce the risk of CHE. The reason for this could be inadequate coverage, where high-cost medicines, treatments, and transportation costs are not fully included in the insurance package, leading to significant out-of-pocket expenses. We also considered the long waiting time, lack of medicines, and complex procedures for the utilization of NHIP benefits, which might result in the underuse of covered services. Finally, gaps in enrollment and retention might leave certain households vulnerable to CHE despite the existence of NHIP. Key factors contributing to increased CHE include NCDs, acute illnesses, larger household sizes, and poverty. To improve the program’s effectiveness, it is recommended that NHIP benefits and coverage be expanded to better protect against high healthcare costs. Additionally, simplifying the renewal process, addressing long waiting times, and enhancing the availability of services could improve member satisfaction and retention. Targeted financial protection measures should be implemented for high-risk groups, and efforts should be made to increase awareness and encourage routine health check-ups to prevent severe health issues that contribute to CHE.Keywords: catastrophic health expenditure, effectiveness, national health insurance program, Nepal
Procedia PDF Downloads 248818 Effectiveness of Traditional Chinese Medicine in the Treatment of Eczema: A Systematic Review and Meta-Analysis Based on Eczema Area and Severity Index Score
Authors: Oliver Chunho Ma, Tszying Chang
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Background: Traditional Chinese Medicine (TCM) has been widely used in the treatment of eczema. However, there is currently a lack of comprehensive research on the overall effectiveness of TCM in treating eczema, particularly using the Eczema Area and Severity Index (EASI) score as an evaluation tool. Meta-analysis can integrate the results of multiple studies to provide more convincing evidence. Objective: To conduct a systematic review and meta-analysis based on the EASI score to evaluate the overall effectiveness of TCM in the treatment of eczema. Specifically, the study will review and analyze published clinical studies that investigate TCM treatments for eczema and use the EASI score as an outcome measure, comparing the differences in improving the severity of eczema between TCM and other treatment modalities, such as conventional Western medicine treatments. Methods: Relevant studies, including randomized controlled trials (RCTs) and non-randomized controlled trials, that involve TCM treatment for eczema and use the EASI score as an outcome measure will be searched in medical literature databases such as PubMed, CNKI, etc. Relevant data will be extracted from the selected studies, including study design, sample size, treatment methods, improvement in EASI score, etc. The methodological quality and risk of bias of the included studies will be assessed using appropriate evaluation tools (such as the Cochrane Handbook). The results of the selected studies will be statistically analyzed, including pooling effect sizes (such as standardized mean differences, relative risks, etc.), subgroup analysis (e.g., different TCM syndromes, different treatment modalities), and sensitivity analysis (e.g., excluding low-quality studies). Based on the results of the statistical analysis and quality assessment, the overall effectiveness of TCM in improving the severity of eczema will be interpreted. Expected outcomes: By integrating the results of multiple studies, we expect to provide more convincing evidence regarding the specific effects of TCM in improving the severity of eczema. Additionally, subgroup analysis and sensitivity analysis can further elucidate whether the effectiveness of TCM treatment is influenced by different factors. Besides, we will compare the results of the meta-analysis with the clinical data from our clinic. For both the clinical data and the meta-analysis results, we will perform descriptive statistics such as means, standard deviations, percentages, etc. and compare the differences between the two using statistical tests such as independent samples t-test or non-parametric tests to assess the statistical differences between them.Keywords: Eczema, traditional Chinese medicine, EASI, systematic review, meta-analysis
Procedia PDF Downloads 588817 Cost Benefit Analysis: Evaluation among the Millimetre Wavebands and SHF Bands of Small Cell 5G Networks
Authors: Emanuel Teixeira, Anderson Ramos, Marisa Lourenço, Fernando J. Velez, Jon M. Peha
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This article discusses the benefit cost analysis aspects of millimetre wavebands (mmWaves) and Super High Frequency (SHF). The devaluation along the distance of the carrier-to-noise-plus-interference ratio with the coverage distance is assessed by considering two different path loss models, the two-slope urban micro Line-of-Sight (UMiLoS) for the SHF band and the modified Friis propagation model, for frequencies above 24 GHz. The equivalent supported throughput is estimated at the 5.62, 28, 38, 60 and 73 GHz frequency bands and the influence of carrier-to-noise-plus-interference ratio in the radio and network optimization process is explored. Mostly owing to the lessening caused by the behaviour of the two-slope propagation model for SHF band, the supported throughput at this band is higher than at the millimetre wavebands only for the longest cell lengths. The benefit cost analysis of these pico-cellular networks was analysed for regular cellular topologies, by considering the unlicensed spectrum. For shortest distances, we can distinguish an optimal of the revenue in percentage terms for values of the cell length, R ≈ 10 m for the millimeter wavebands and for longest distances an optimal of the revenue can be observed at R ≈ 550 m for the 5.62 GHz. It is possible to observe that, for the 5.62 GHz band, the profit is slightly inferior than for millimetre wavebands, for the shortest Rs, and starts to increase for cell lengths approximately equal to the ratio between the break-point distance and the co-channel reuse factor, achieving a maximum for values of R approximately equal to 550 m.Keywords: millimetre wavebands, SHF band, SINR, cost benefit analysis, 5G
Procedia PDF Downloads 1418816 Computational Fluid Dynamicsfd Simulations of Air Pollutant Dispersion: Validation of Fire Dynamic Simulator Against the Cute Experiments of the Cost ES1006 Action
Authors: Virginie Hergault, Siham Chebbah, Bertrand Frere
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Following in-house objectives, Central laboratory of Paris police Prefecture conducted a general review on models and Computational Fluid Dynamics (CFD) codes used to simulate pollutant dispersion in the atmosphere. Starting from that review and considering main features of Large Eddy Simulation, Central Laboratory Of Paris Police Prefecture (LCPP) postulates that the Fire Dynamics Simulator (FDS) model, from National Institute of Standards and Technology (NIST), should be well suited for air pollutant dispersion modeling. This paper focuses on the implementation and the evaluation of FDS in the frame of the European COST ES1006 Action. This action aimed at quantifying the performance of modeling approaches. In this paper, the CUTE dataset carried out in the city of Hamburg, and its mock-up has been used. We have performed a comparison of FDS results with wind tunnel measurements from CUTE trials on the one hand, and, on the other, with the models results involved in the COST Action. The most time-consuming part of creating input data for simulations is the transfer of obstacle geometry information to the format required by SDS. Thus, we have developed Python codes to convert automatically building and topographic data to the FDS input file. In order to evaluate the predictions of FDS with observations, statistical performance measures have been used. These metrics include the fractional bias (FB), the normalized mean square error (NMSE) and the fraction of predictions within a factor of two of observations (FAC2). As well as the CFD models tested in the COST Action, FDS results demonstrate a good agreement with measured concentrations. Furthermore, the metrics assessment indicate that FB and NMSE meet the tolerance acceptable.Keywords: numerical simulations, atmospheric dispersion, cost ES1006 action, CFD model, cute experiments, wind tunnel data, numerical results
Procedia PDF Downloads 1338815 Product Modularity, Collaboration and the Impact on Innovation Performance in Intra-Organizational R&D Networks
Authors: Daniel Martinez, Tim de Leeuw, Stefan Haefliger
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The challenges of managing a large and geographically dispersed R&D organization have been further increasing during the past years, concentrating on the leverage of a geo-graphically dispersed body of knowledge in an efficient and effective manner. In order to reduce complexity and improve performance, firms introduce product modularity as one key element for global R&D network teams to develop their products and projects in collaboration. However, empirical studies on the effects of product modularity on innovation performance are really scant. Furthermore, some researchers have suggested that product modularity promotes innovation performance, while others argue that it inhibits innovation performance. This research fills this gap by investigating the impact of product modularity on various dimensions of innovation performance, i.e. effectiveness and efficiency. By constructing the theoretical framework, this study suggests that that there is an inverted U-shaped relationship between product modularity and innovation performance. Moreover, this research work suggests that the optimum of innovation performance efficiency will be at a higher level than innovation performance effectiveness at a given product modularity level.Keywords: modularity, innovation performance, networks, R&D, collaboration
Procedia PDF Downloads 5208814 Empowering Tomorrow's Educators: A Transformative Journey through Education for Sustainable Development
Authors: Helga Mayr
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In our ongoing effort to address urgent global challenges related to sustainability, higher education institutions play a central role in raising a generation of informed and empowered citizens committed to sustainable development. This paper presents the preliminary results of the so far realized evaluation of a compulsory module on education for sustainable development (ESD) offered to students in the bachelor's program in elementary education at the University College of Teacher Education Tyrol (PH Tirol), Austria. The module includes a lecture on sustainability and education as well as a project-based seminar that aims to foster a deep understanding of ESD and its application in pedagogical practice. The study examines various dimensions related to the module's impact on participating students, focusing on prevalent sustainability concepts, intentions, actions, general and sustainability-related self-efficacy, perceived competence related to ESD, and ESD-related self-efficacy. In addition, the research addresses assessment of the learning process. To obtain a comprehensive overview of the effectiveness of the module, a mixed methods approach was/is used in the evaluation. Quantitative data was/is collected through surveys and self-assessment instruments, while qualitative findings were/will be obtained through focus group interviews and reflective analysis. The PH Tirol is collaborating with another University College of Teacher Education (Styria) and a university of applied sciences in Switzerland (UAS of the Grisons) to broaden the scope of the analysis and allow for comparative findings. Preliminary results indicate that students have a relatively rudimentary understanding of sustainability. The extent to which completion of the module influences understanding of sustainability, awareness, intentions, and actions, as well as self-efficacy, is currently under investigation. The results will be available at the time of the conference and will be presented there. In terms of learning, the project-based seminar, which promotes hands-on engagement with ESD, was evaluated for its effectiveness in fostering key sustainability competencies as well as sustainability-related and ESD-related self-efficacy. The research not only provides insights into the effectiveness of the compulsory module ESD at the PH Tirol but also contributes to the broader discourse on integrating ESD into teacher education.Keywords: education for sustainable development, teacher education, project-based learning, effectiveness measurements
Procedia PDF Downloads 688813 Determination Optimum Strike Price of FX Option Call Spread with USD/IDR Volatility and Garman–Kohlhagen Model Analysis
Authors: Bangkit Adhi Nugraha, Bambang Suripto
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On September 2016 Bank Indonesia (BI) release regulation no.18/18/PBI/2016 that permit bank clients for using the FX option call spread USD/IDR. Basically, this product is a combination between clients buy FX call option (pay premium) and sell FX call option (receive premium) to protect against currency depreciation while also capping the potential upside with cheap premium cost. BI classifies this product as a structured product. The structured product is combination at least two financial instruments, either derivative or non-derivative instruments. The call spread is the first structured product against IDR permitted by BI since 2009 as response the demand increase from Indonesia firms on FX hedging through derivative for protecting market risk their foreign currency asset or liability. The composition of hedging products on Indonesian FX market increase from 35% on 2015 to 40% on 2016, the majority on swap product (FX forward, FX swap, cross currency swap). Swap is formulated by interest rate difference of the two currency pairs. The cost of swap product is 7% for USD/IDR with one year USD/IDR volatility 13%. That cost level makes swap products seem expensive for hedging buyers. Because call spread cost (around 1.5-3%) cheaper than swap, the most Indonesian firms are using NDF FX call spread USD/IDR on offshore with outstanding amount around 10 billion USD. The cheaper cost of call spread is the main advantage for hedging buyers. The problem arises because BI regulation requires the call spread buyer doing the dynamic hedging. That means, if call spread buyer choose strike price 1 and strike price 2 and volatility USD/IDR exchange rate surpass strike price 2, then the call spread buyer must buy another call spread with strike price 1’ (strike price 1’ = strike price 2) and strike price 2’ (strike price 2’ > strike price 1‘). It could make the premium cost of call spread doubled or even more and dismiss the purpose of hedging buyer to find the cheapest hedging cost. It is very crucial for the buyer to choose best optimum strike price before entering into the transaction. To help hedging buyer find the optimum strike price and avoid expensive multiple premium cost, we observe ten years 2005-2015 historical data of USD/IDR volatility to be compared with the price movement of the call spread USD/IDR using Garman–Kohlhagen Model (as a common formula on FX option pricing). We use statistical tools to analysis data correlation, understand nature of call spread price movement over ten years, and determine factors affecting price movement. We select some range of strike price and tenor and calculate the probability of dynamic hedging to occur and how much it’s cost. We found USD/IDR currency pairs is too uncertain and make dynamic hedging riskier and more expensive. We validated this result using one year data and shown small RMS. The study result could be used to understand nature of FX call spread and determine optimum strike price for hedging plan.Keywords: FX call spread USD/IDR, USD/IDR volatility statistical analysis, Garman–Kohlhagen Model on FX Option USD/IDR, Bank Indonesia Regulation no.18/18/PBI/2016
Procedia PDF Downloads 3788812 The Effectiveness and the Factors Affect Farmer’s Adoption of Technological Innovation Citrus Gerga Lebong in Bengkulu Indonesia
Authors: Umi Pudji Astuti, Dedi Sugandi
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The effectiveness of agricultural extension is determined by the component in the agricultural extension system among others are agricultural extension methods. Effective methods should be selected and defined based on the characteristics of the target, the resources, the materials, and the objectives to be achieved. Citrus agribusiness development in Lebong is certainly supported by the role of stakeholders and citrus farmers, as well as the proper dissemination methods. Adoption in the extension process substantially can be interpreted as the changes of behavior process such as knowledge (cognitive), attitudes (affective), and skill (psycho-motoric) in a person after receiving "innovation" from extension submitted by target communities. Knowledge and perception are needed as a first step in adopting a innovation, especially of citrus agribusiness development in Lebong. The process of Specific technology adoption is influenced by internal factors and farmer perceptions of technological innovation. Internal factors such as formal education, experience trying to farm, owned land, production farm goods. The output of this study: 1) to analyze the effectiveness of field trial methods in improving cognitive and affective farmers; 2) Knowing the relationship of adoption level and knowledge of farmers; 3) to analyze the factors that influence farmers' adoption of citrus technology innovation. The method of this study is through the survey to 40 respondents in Rimbo Pengadang Sub District, Lebong District in 2014. Analyzing data is done by descriptive and statistical parametric (multiple linear functions). The results showed that: 1) Field trip method is effective to improve the farmer knowledge (23,17% ) and positively affect the farmer attitude; 2) the knowledge level of PTKJS innovation farmers "positively and very closely related".; 3) the factors that influence the level of farmers' adoption are internal factors (education, knowledge, and the intensity of training), and external factors respondents (distance from the house to the garden and from the house to production facilities shop).Keywords: affect, adoption technology, citrus gerga, effectiveness dissemination
Procedia PDF Downloads 1948811 Comparison of Various Policies under Different Maintenance Strategies on a Multi-Component System
Authors: Demet Ozgur-Unluakin, Busenur Turkali, Ayse Karacaorenli
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Maintenance strategies can be classified into two types, which are reactive and proactive, with respect to the time of the failure and maintenance. If the maintenance activity is done after a breakdown, it is called reactive maintenance. On the other hand, proactive maintenance, which is further divided as preventive and predictive, focuses on maintaining components before a failure occurs to prevent expensive halts. Recently, the number of interacting components in a system has increased rapidly and therefore, the structure of the systems have become more complex. This situation has made it difficult to provide the right maintenance decisions. Herewith, determining effective decisions has played a significant role. In multi-component systems, many methodologies and strategies can be applied when a component or a system has already broken down or when it is desired to identify and avoid proactively defects that could lead to future failure. This study focuses on the comparison of various maintenance strategies on a multi-component dynamic system. Components in the system are hidden, although there exists partial observability to the decision maker and they deteriorate in time. Several predefined policies under corrective, preventive and predictive maintenance strategies are considered to minimize the total maintenance cost in a planning horizon. The policies are simulated via Dynamic Bayesian Networks on a multi-component system with different policy parameters and cost scenarios, and their performances are evaluated. Results show that when the difference between the corrective and proactive maintenance cost is low, none of the proactive maintenance policies is significantly better than the corrective maintenance. However, when the difference is increased, at least one policy parameter for each proactive maintenance strategy gives significantly lower cost than the corrective maintenance.Keywords: decision making, dynamic Bayesian networks, maintenance, multi-component systems, reliability
Procedia PDF Downloads 1298810 Reducing Pressure Drop in Microscale Channel Using Constructal Theory
Authors: K. X. Cheng, A. L. Goh, K. T. Ooi
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The effectiveness of microchannels in enhancing heat transfer has been demonstrated in the semiconductor industry. In order to tap the microscale heat transfer effects into macro geometries, overcoming the cost and technological constraints, microscale passages were created in macro geometries machined using conventional fabrication methods. A cylindrical insert was placed within a pipe, and geometrical profiles were created on the outer surface of the insert to enhance heat transfer under steady-state single-phase liquid flow conditions. However, while heat transfer coefficient values of above 10 kW/m2·K were achieved, the heat transfer enhancement was accompanied by undesirable pressure drop increment. Therefore, this study aims to address the high pressure drop issue using Constructal theory, a universal design law for both animate and inanimate systems. Two designs based on Constructal theory were developed to study the effectiveness of Constructal features in reducing the pressure drop increment as compared to parallel channels, which are commonly found in microchannel fabrication. The hydrodynamic and heat transfer performance for the Tree insert and Constructal fin (Cfin) insert were studied using experimental methods, and the underlying mechanisms were substantiated by numerical results. In technical terms, the objective is to achieve at least comparable increment in both heat transfer coefficient and pressure drop, if not higher increment in the former parameter. Results show that the Tree insert improved the heat transfer performance by more than 16 percent at low flow rates, as compared to the Tree-parallel insert. However, the heat transfer enhancement reduced to less than 5 percent at high Reynolds numbers. On the other hand, the pressure drop increment stayed almost constant at 20 percent. This suggests that the Tree insert has better heat transfer performance in the low Reynolds number region. More importantly, the Cfin insert displayed improved heat transfer performance along with favourable hydrodynamic performance, as compared to Cfinparallel insert, at all flow rates in this study. At 2 L/min, the enhancement of heat transfer was more than 30 percent, with 20 percent pressure drop increment, as compared to Cfin-parallel insert. Furthermore, comparable increment in both heat transfer coefficient and pressure drop was observed at 8 L/min. In other words, the Cfin insert successfully achieved the objective of this study. Analysis of the results suggests that bifurcation of flows is effective in reducing the increment in pressure drop relative to heat transfer enhancement. Optimising the geometries of the Constructal fins is therefore the potential future study in achieving a bigger stride in energy efficiency at much lower costs.Keywords: constructal theory, enhanced heat transfer, microchannel, pressure drop
Procedia PDF Downloads 3378809 Assessment of the Effectiveness of the Anti-Debris Flow Engineering Constructed to Reduce the Risk of Expected Debris Flow in the River Mletiskhevi by Computer Program RAMMS
Authors: Sopio Gogilava, Goga Chakhaia, Levan Tsulukidze, Zurab Laoshvili, Irina Khubulava, Shalva Bosikashvili, Teimuraz Gugushvili
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Geoinformatics systems (GIS) integrated computer program RAMMS is widely used for forecasting debris flows and accordingly for the determination of anticipating risks with 85% accuracy. In view of the above, the work introduces new capabilities of the computer program RAMMS, which evaluates the effectiveness of anti-debris flow engineering construction, namely: the possibility of decreasing the expected velocity, kinetic energy, and output cone volume in the Mletiskhevi River. As a result of research has been determined that the anti-debris flow engineering construction designed to reduce the expected debris flow risk in the Mletiskhevi River is an effective environmental protection technology, that's why its introduction is promising.Keywords: construction, debris flow, geoinformatics systems, program RAMMS
Procedia PDF Downloads 1458808 Aerogel Fabrication Via Modified Rapid Supercritical Extraction (RSCE) Process - Needle Valve Pressure Release
Authors: Haibo Zhao, Thomas Andre, Katherine Avery, Alper Kiziltas, Deborah Mielewski
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Silica aerogels were fabricated through a modified rapid supercritical extraction (RSCE) process. The silica aerogels were made using a tetramethyl orthosilicate precursor and then placed in a hot press and brought to the supercritical point of the solvent, ethanol. In order to control the pressure release without a pressure controller, a needle valve was used. The resulting aerogels were then characterized for their physical and chemical properties and compared to silica aerogels created using similar methods. The aerogels fabricated using this modified RSCE method were found to have similar properties to those in other papers using the unmodified RSCE method. Silica aerogel infused glass blanket composite, graphene reinforced silica aerogel composite were also successfully fabricated by this new method. The modified RSCE process and system is a prototype for better gas outflow control with a lower cost of equipment setup. Potentially, this process could be evolved to a continuous low-cost high-volume production process to meet automotive requirements.Keywords: aerogel, automotive, rapid supercritical extraction process, low cost production
Procedia PDF Downloads 1848807 Improving Fluid Catalytic Cracking Unit Performance through Low Cost Debottlenecking
Authors: Saidulu Gadari, Manoj Kumar Yadav, V. K. Satheesh, Debasis Bhattacharyya, S. S. V. Ramakumar, Subhajit Sarkar
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Most Fluid Catalytic Cracking Units (FCCUs) are big profit makers and hence, always operated with several constraints. It is the primary source for production of gasoline, light olefins as petrochemical feedstocks, feedstock for alkylate & oxygenates, LPG, etc. in a refinery. Increasing unit capacity and improving product yields as well as qualities such as gasoline RON have dramatic impact on the refinery economics. FCCUs are often debottlenecked significantly beyond their original design capacities. Depending upon the unit configuration, operating conditions, and feedstock quality, the FCC unit can have a variety of bottlenecks. While some of these are aimed to increase the feed rate, improve the conversion, etc., the others are aimed to improve the reliability of the equipment or overall unit. Apart from investment cost, the other factors considered generally while evaluating the debottlenecking options are shutdown days, faster payback, risk on investment, etc. A low-cost solution such as replacement of feed injectors, air distributor, steam distributors, spent catalyst distributor, efficient cyclone system, etc. are the preferred way of upgrading FCCU. It also has lower lead time from idea inception to implementation. This paper discusses various bottlenecks generally encountered in FCCU and presents a case study on improvement of performance of one of the FCCUs in IndianOil through implementation of cost-effective technical solution including use of improved internals in Reactor-Regeneration (R-R) section. After implementation reduction in regenerator air, gas superficial velocity in regenerator and cyclone velocities by about 10% and improvement of CLO yield from 10 to 6 wt% have been achieved. By ensuring proper pressure balance and optimum immersion of cyclone dipleg in the standpipe, frequent formation of perforations in regenerator cyclones could be addressed which in turn improved the unit on-stream factor.Keywords: FCC, low-cost, revamp, debottleneck, internals, distributors, cyclone, dipleg
Procedia PDF Downloads 2158806 Development of a Mathematical Model to Characterize the Oil Production in the Federal Republic of Nigeria Environment
Authors: Paul C. Njoku, Archana Swati Njoku
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The study deals with the development of a mathematical model to characterize the oil production in Nigeria. This is calculated by initiating the dynamics of oil production in million barrels revenue plan cost of oil production in million nairas and unit cost of production from 1974-1982 in the contest of the federal Republic of Nigeria. This country export oil to other countries as well as importing specialized crude. The transport network from origin/destination tij to pairs is taking into account simulation runs, optimization have been considered in this study.Keywords: mathematical oil model development dynamics, Nigeria, characterization barrels, dynamics of oil production
Procedia PDF Downloads 3878805 Operation and Management System of New Ahmadi Hospital Facility
Authors: Abdulrahman H. Alrashidi
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Kuwait Oil Company provides health care services through Ahmadi hospital for oil sector employee and their families. Due to increasing number of entitled patients in Ahmadi hospital, the company starts health insurance option in 2010. In addition, a new Ahmadi hospital decided to build to accumulate all entitled patients. Operation and management of new Ahmadi hospital investigated in this research. In order to maintain the high quality of medical services and satisfaction rate among oil sector community and reducing the operation cost. Six operation and management options evaluated in order to implement in new Ahmadi hospital. Qualitative Risk assessment method used to investigate proposed options for operation and management of new Ahmadi hospital. Evaluation criteria consist of quality of medical services, operation cost and satisfaction rate among oil sector community. Results show that using the same operation and management system in existing Ahmadi hospital with new Ahmadi hospital will bring cost higher. This approach brings risk to KOC. Results from risk assessment show that partially operated new Ahmadi hospital is the best opportunity to meet the objectives of KOC’s medical group.Keywords: Kuwait Oil Company, new Ahmadi hospital, operation and management, risk assessment
Procedia PDF Downloads 3608804 Yaw Angle Effect on the Aerodynamic Performance of Rear-Roof Spoiler of Hatchback Vehicle
Authors: See-Yuan Cheng, Kwang-Yhee Chin, Shuhaimi Mansor
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Rear-roof spoiler is commonly used for improving the aerodynamic performance of road vehicles. This study aims to investigate the effect of yaw angle on the effectiveness of strip-type rear-roof spoiler in providing lower drag and lift coefficients of a hatchback model. A computational fluid dynamics (CFD) method was used. The numerically obtained results were compared to the experimental data for validation of the CFD method. At increasing yaw angle, both the drag and lift coefficients of the model were to increase. In addition, the effectiveness of spoiler was deteriorated. These unfavorable effects were due to the formation of longitudinal vortices around the side edges of the model that had caused the surface pressure of the model to drop. Furthermore, there were significant crossflow structures developed behind the model at larger yaw angle, which were associated with the drop in the surface pressure of the rear section of the model and cause the drag coefficient to rise.Keywords: Ahmed model, aerodynamics, spoiler, yaw angle
Procedia PDF Downloads 3578803 A Two Server Poisson Queue Operating under FCFS Discipline with an ‘m’ Policy
Authors: R. Sivasamy, G. Paulraj, S. Kalaimani, N.Thillaigovindan
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For profitable businesses, queues are double-edged swords and hence the pain of long wait times in a queue often frustrates customers. This paper suggests a technical way of reducing the pain of lines through a Poisson M/M1, M2/2 queueing system operated by two heterogeneous servers with an objective of minimising the mean sojourn time of customers served under the queue discipline ‘First Come First Served with an ‘m’ policy, i.e. FCFS-m policy’. Arrivals to the system form a Poisson process of rate λ and are served by two exponential servers. The service times of successive customers at server ‘j’ are independent and identically distributed (i.i.d.) random variables and each of it is exponentially distributed with rate parameter μj (j=1, 2). The primary condition for implementing the queue discipline ‘FCFS-m policy’ on these service rates μj (j=1, 2) is that either (m+1) µ2 > µ1> m µ2 or (m+1) µ1 > µ2> m µ1 must be satisfied. Further waiting customers prefer the server-1 whenever it becomes available for service, and the server-2 should be installed if and only if the queue length exceeds the value ‘m’ as a threshold. Steady-state results on queue length and waiting time distributions have been obtained. A simple way of tracing the optimal service rate μ*2 of the server-2 is illustrated in a specific numerical exercise to equalize the average queue length cost with that of the service cost. Assuming that the server-1 has to dynamically adjust the service rates as μ1 during the system size is strictly less than T=(m+2) while μ2=0, and as μ1 +μ2 where μ2>0 if the system size is more than or equal to T, corresponding steady state results of M/M1+M2/1 queues have been deduced from those of M/M1,M2/2 queues. To conclude this investigation has a viable application, results of M/M1+M2/1 queues have been used in processing of those waiting messages into a single computer node and to measure the power consumption by the node.Keywords: two heterogeneous servers, M/M1, M2/2 queue, service cost and queue length cost, M/M1+M2/1 queue
Procedia PDF Downloads 3628802 Experimental Measurements of Evacuated Enclosure Thermal Insulation Effectiveness for Vacuum Flat Plate Solar Thermal Collectors
Authors: Paul Henshall, Philip Eames, Roger Moss, Stan Shire, Farid Arya, Trevor Hyde
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Encapsulating the absorber of a flat plate solar thermal collector in vacuum by an enclosure that can be evacuated can result in a significant increase in collector performance and achievable operating temperatures. This is a result of the thermal insulation effectiveness of the vacuum layer surrounding the absorber, as less heat is lost during collector operation. This work describes experimental thermal insulation characterization tests of prototype vacuum flat plate solar thermal collectors that demonstrate the improvement in absorber heat loss coefficients. Furthermore, this work describes the selection and sizing of a getter, suitable for maintaining the vacuum inside the enclosure for the lifetime of the collector, which can be activated at low temperatures.Keywords: vacuum, thermal, flat-plate solar collector, insulation
Procedia PDF Downloads 3948801 Industrial Management of Highland Community: The Hmong Ethnic Group Hill Tribe, Phetchabun Province
Authors: Kusuma Palaprom
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The aims of this research are: 1) to study Hmong ethnic group hill tribe’s way of life and community industrial management and 2) to bring the industrial management into the community. This is a Participatory Action Research (PAR) using qualitative and quantitative data. The findings are: 1) Way of living and learning from nature of Hmong ethnic group hill tribe bases on their cultural relic belief. Hmong‘s way of life or occupation is traditional agriculture which cannot be business because they cannot adopt the industrial management to the community economic innovation base on local wisdom. 2) Quality of life development using local wisdom cost is not worth. Hmong ethnic group hill tribe are lack of modern knowledge-managerial aspect and the application of local wisdom cost and 3) the government supports for Hmong’s developing of life quality are limited. Solving problem guidelines are: 1) to create awareness of ethnic group wisdom-industrial conservation. 2) Government policy need to give an opportunity and motivate ethnic group community to do the cultural-industrial conservation with industrial management process and local wisdom cost. In order to, improve the sustainability of quality of life.Keywords: industrial management, highland community, community empowerment ethnic group
Procedia PDF Downloads 5708800 Proposal Evaluation of Critical Success Factors (CSF) in Lean Manufacturing Projects
Authors: Guilherme Gorgulho, Carlos Roberto Camello Lima
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Critical success factors (CSF) are used to design the practice of project management that can lead directly or indirectly to the success of the project. This management includes many elements that have to be synchronized in order to ensure the project on-time delivery, quality and the lowest possible cost. The objective of this work is to develop a proposal for evaluation of the FCS in lean manufacturing projects, and apply the evaluation in a pilot project. The results show that the use of continuous improvement programs in organizations brings benefits as the process cost reduction and improve productivity.Keywords: continuous improvement, critical success factors (csf), lean thinking, project management
Procedia PDF Downloads 364