Search results for: resource optimization
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 5649

Search results for: resource optimization

4659 An Effective Decision-Making Strategy Based on Multi-Objective Optimization for Commercial Vehicles in Highway Scenarios

Authors: Weiming Hu, Xu Li, Xiaonan Li, Zhong Xu, Li Yuan, Xuan Dong

Abstract:

Maneuver decision-making plays a critical role in high-performance intelligent driving. This paper proposes a risk assessment-based decision-making network (RADMN) to address the problem of driving strategy for the commercial vehicle. RADMN integrates two networks, aiming at identifying the risk degree of collision and rollover and providing decisions to ensure the effectiveness and reliability of driving strategy. In the risk assessment module, risk degrees of the backward collision, forward collision and rollover are quantified for hazard recognition. In the decision module, a deep reinforcement learning based on multi-objective optimization (DRL-MOO) algorithm is designed, which comprehensively considers the risk degree and motion states of each traffic participant. To evaluate the performance of the proposed framework, Prescan/Simulink joint simulation was conducted in highway scenarios. Experimental results validate the effectiveness and reliability of the proposed RADMN. The output driving strategy can guarantee the safety and provide key technical support for the realization of autonomous driving of commercial vehicles.

Keywords: decision-making strategy, risk assessment, multi-objective optimization, commercial vehicle

Procedia PDF Downloads 135
4658 Optimal Injected Current Control for Shunt Active Power Filter Using Artificial Intelligence

Authors: Brahim Berbaoui

Abstract:

In this paper, a new particle swarm optimization (PSO) based method is proposed for the implantation of optimal harmonic power flow in power systems. In this algorithm approach, proportional integral controller for reference compensating currents of active power filter is performed in order to minimize the total harmonic distortion (THD). The simulation results show that the new control method using PSO approach is not only easy to be implanted, but also very effective in reducing the unwanted harmonics and compensating reactive power. The studies carried out have been accomplished using the MATLAB Simulink Power System Toolbox.

Keywords: shunt active power filter, power quality, current control, proportional integral controller, particle swarm optimization

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4657 Time-Domain Simulations of the Coupled Dynamics of Surface Riding Wave Energy Converter

Authors: Chungkuk Jin, Moo-Hyun Kim, HeonYong Kang

Abstract:

A surface riding (SR) wave energy converter (WEC) is designed and its feasibility and performance are numerically simulated by the author-developed floater-mooring-magnet-electromagnetics fully-coupled dynamic analysis computer program. The biggest advantage of the SR-WEC is that the performance is equally effective even in low sea states and its structural robustness is greatly improved by simply riding along the wave surface compared to other existing WECs. By the numerical simulations and actuator testing, it is clearly demonstrated that the concept works and through the optimization process, its efficiency can be improved.

Keywords: computer simulation, electromagnetics fully-coupled dynamics, floater-mooring-magnet, optimization, performance evaluation, surface riding, WEC

Procedia PDF Downloads 145
4656 Optimization of Spatial Light Modulator to Generate Aberration Free Optical Traps

Authors: Deepak K. Gupta, T. R. Ravindran

Abstract:

Holographic Optical Tweezers (HOTs) in general use iterative algorithms such as weighted Gerchberg-Saxton (WGS) to generate multiple traps, which produce traps with 99% uniformity theoretically. But in experiments, it is the phase response of the spatial light modulator (SLM) which ultimately determines the efficiency, uniformity, and quality of the trap spots. In general, SLMs show a nonlinear phase response behavior, and they may even have asymmetric phase modulation depth before and after π. This affects the resolution with which the gray levels are addressed before and after π, leading to a degraded trap performance. We present a method to optimize the SLM for a linear phase response behavior along with a symmetric phase modulation depth around π. Further, we optimize the SLM for its varying phase response over different spatial regions by optimizing the brightness/contrast and gamma of the hologram in different subsections. We show the effect of the optimization on an array of trap spots resulting in improved efficiency and uniformity. We also calculate the spot sharpness metric and trap performance metric and show a tightly focused spot with reduced aberration. The trap performance is compared by calculating the trap stiffness of a trapped particle in a given trap spot before and after aberration correction. The trap stiffness is found to improve by 200% after the optimization.

Keywords: spatial light modulator, optical trapping, aberration, phase modulation

Procedia PDF Downloads 190
4655 A Study on Employer Branding and Its Impacts on Employee’s

Authors: KVNKC Sharma, Soujanya Pasumarthi

Abstract:

Globalization, coupled with increase in competition is compelling organizations to adopt innovative strategies and identify core competencies in order to distinguish themselves from the competition. The capability of an organization is no longer determined by their products or services alone. The intellectual assets and quality of the human resource are fast emerging as key differentiators. Corporations are now positioning themselves as ‘brands’ not solely to market their products and services, but also to lure and to retain the best talent in the business. This paper identifies leadership as the ‘key element’ in developing an organization’s brand, which has a significant influence on the employee’s eventual perception of this external brand as portrayed by the organization. External branding incorporates innovation, consumer concern, trust, quality and sustainability. The paper contends that employees are indeed an organization’s ‘brand ambassadors. Internal branding involves taking care of these ambassadors of corporate brand i.e. human resource. If employees of an organization are not exposed to the organization’s branding (an ongoing process that functionally aligns, motivates and empower employees at all levels to consistently provide a satisfying customer experience), the external brand could be jeopardized. Internal branding, on the other hand, refers to employee’s perception of the organization’s brand. The current business environment can at best, be termed as volatile. Employees with the right technical and behavioral skills remain a scarce resource and the employers need to be ready to capture the attention, interest and commitment of the best and brightest candidates. This paper attempts to review and understand the relationship between employer branding and employee retention. The paper also seeks to identify potential impact of employer branding across all the factors affecting employees.

Keywords: alignment, external branding, internal branding, leadership

Procedia PDF Downloads 304
4654 Cost-Based Analysis of Cloud and Traditional ERP Systems in Small and Medium Enterprises

Authors: Indu Saini, Ashu Khanna, S. K. Peddoju

Abstract:

Cloud computing is the new buzz word today attracting high interest among various domains like business enterprises, Particularly in Small and Medium Enterprises. As it is a pay-per-use model, SMEs have high expectations that adapting this model will not only make them flexible, hassle-free but also economic. In view of such expectations, this paper analyses the possibility of adapting cloud computing technologies in SMEs in light of economic concerns. In this paper, two hypotheses are developed to compare the average annual per-user costs of using Enterprise Resource Planning systems in two ways, The traditional approach and the cloud approach. A web based survey is conducted apart from the Interviews with the peers to collect the data across the selected SMEs and t-test is performed to compare both the technologies on the proposed hypothesis. Results achieved are produced and discussed.

Keywords: cloud computing, small and medium enterprises, enterprise resource solutions, interviews

Procedia PDF Downloads 338
4653 A Review of the Potential Impact of Employer Branding on Employee

Authors: K. V. N. K. C. Sharma

Abstract:

Globalization, coupled with increase in competition is compelling organizations to adopt innovative strategies and identify core competencies in order to distinguish themselves from the competition. The capability of an organization is no longer determined by their products or services alone. The intellectual assets and quality of the human resource are fast emerging as key differentiators. Corporations are now positioning themselves as ‘brands’ not solely to market their products and services, but also to lure and to retain the best talent in the business. This paper identifies leadership as the ‘key element’ in developing an organization’s brand, which has a significant influence on the employee’s eventual perception of this external brand as portrayed by the organization. External branding incorporates innovation, consumer concern, trust, quality and sustainability. The paper contends that employees are indeed an organization’s ‘brand ambassadors. Internal branding involves taking care of these ambassadors of corporate brand i.e. human resource. If employees of an organization are not exposed to the organization’s branding (an ongoing process that functionally aligns, motivates and empower employees at all levels to consistently provide a satisfying customer experience), the external brand could be jeopardized. Internal branding, on the other hand, refers to employee’s perception of the organization’s brand. The current business environment can at best, be termed as volatile. Employees with the right technical and behavioral skills remain a scarce resource and the employers need to be ready to capture the attention, interest and commitment of the best and brightest candidates. This paper attempts to review and understand the relationship between employer branding and employee retention. The paper also seeks to identify potential impact of employer branding across all the factors affecting employees.

Keywords: external branding, organisation personnel, internal branding, leadership

Procedia PDF Downloads 240
4652 Research on Load Balancing Technology for Web Service Mobile Host

Authors: Yao Lu, Xiuguo Zhang, Zhiying Cao

Abstract:

In this paper, Load Balancing idea is used in the Web service mobile host. The main idea of Load Balancing is to establish a one-to-many mapping mechanism: An entrance-mapping request to plurality of processing node in order to realize the dividing and assignment processing. Because the mobile host is a resource constrained environment, there are some Web services which cannot be completed on the mobile host. When the mobile host resource is not enough to complete the request, Load Balancing scheduler will divide the request into a plurality of sub-requests and transfer them to different auxiliary mobile hosts. Auxiliary mobile host executes sub-requests, and then, the results will be returned to the mobile host. Service request integrator receives results of sub-requests from the auxiliary mobile host, and integrates the sub-requests. In the end, the complete request is returned to the client. Experimental results show that this technology adopted in this paper can complete requests and have a higher efficiency.

Keywords: Dinic, load balancing, mobile host, web service

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4651 Optimization of a Flux Switching Permanent Magnet Machine Using Laminated Segmented Rotor

Authors: Seyedmilad Kazemisangdehi, Seyedmehdi Kazemisangdehi

Abstract:

Flux switching permanent magnet machines are considered for wide range of applications because of their outstanding merits including high torque/power densities, high efficiency, simple and robust rotor structure. Therefore, several topologies have been proposed like the PM exited flux switching machine, hybrid excited flux switching type, and so on. Recently, a novel laminated segmented rotor flux switching permanent magnet machine was introduced. It features flux barriers on rotor structure to enhance the performances of machine including torque ripple reduction and also torque and efficiency improvements at the same time. This is while, the design of barriers was not optimized by the authors. Therefore, in this paper three coefficients regarding the position of the barriers are considered for optimization. The effect of each coefficient on the performance of this machine is investigated by finite element method and finally an optimized design of flux barriers based on these three coefficients is proposed from different points of view including electromagnetic torque maximization and cogging torque/torque ripple minimization. At optimum design from maximum developed torque aspect, this machine generates 0.65 Nm torque higher than that of the not-optimized design with an almost 0.4 % improvement in efficiency.

Keywords: finite element analysis, FSPM, laminated segmented rotor flux switching permanent magnet machine, optimization

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4650 A Firefly Based Optimization Technique for Optimal Planning of Voltage Controlled Distributed Generators

Authors: M. M. Othman, Walid El-Khattam, Y. G. Hegazy, A. Y. Abdelaziz

Abstract:

This paper presents a method for finding the optimal location and capacity of dispatchable DGs connected to the distribution feeders for optimal planning for a specified power loss without violating the system practical constraints. The distributed generation units in the proposed algorithm is modeled as voltage controlled node with the flexibility to be converted to constant power node in case of reactive power limit violation. The proposed algorithm is implemented in MATLAB and tested on the IEEE 37-nodes feeder. The results that are validated by comparing it with results obtained from other competing methods show the effectiveness, accuracy and speed of the proposed method.

Keywords: distributed generators, firefly technique, optimization, power loss

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4649 Wind Speed Prediction Using Passive Aggregation Artificial Intelligence Model

Authors: Tarek Aboueldahab, Amin Mohamed Nassar

Abstract:

Wind energy is a fluctuating energy source unlike conventional power plants, thus, it is necessary to accurately predict short term wind speed to integrate wind energy in the electricity supply structure. To do so, we present a hybrid artificial intelligence model of short term wind speed prediction based on passive aggregation of the particle swarm optimization and neural networks. As a result, improvement of the prediction accuracy is obviously obtained compared to the standard artificial intelligence method.

Keywords: artificial intelligence, neural networks, particle swarm optimization, passive aggregation, wind speed prediction

Procedia PDF Downloads 453
4648 Relations between Human Capital Investments and Business Excellence in Croatian Companies

Authors: Ivana Tadić, Željana Aljinović Barać, Nikolina Plazonić

Abstract:

Living today in turbulent business environment forces companies to distinguish from each other, securing sustainable competitive growth and competitive advantage. The best possible solution is to invest (effort and financial resources) within companies’ different practices of human resource management (HRM), more specifically in employees’ knowledge, skills and abilities. Applying this approach companies will create enviable level of human capital securing its economic growth. Employees become human capital for their employers at the moment when they contribute with their own knowledge and abilities in creating material and non-material value of the company. The main aim of this research is to explore the relations between human capital investments and business excellence of Croatian companies. Furthermore, the differences in the level of human capital investments with regard to several companies’ characteristics (e.g. size of the company, ownership and type of the industry) are investigated.

Keywords: business excellence, Croatian industries, human capital investments, human resource management

Procedia PDF Downloads 362
4647 Effect of Nanoparticles Concentration, pH and Agitation on Bioethanol Production by Saccharomyces cerevisiae BY4743: An Optimization Study

Authors: Adeyemi Isaac Sanusi, Gueguim E. B. Kana

Abstract:

Nanoparticles have received attention of the scientific community due to their biotechnological potentials. They exhibit advantageous size, shape and concentration-dependent catalytic, stabilizing, immunoassays and immobilization properties. This study investigates the impact of metallic oxide nanoparticles (NPs) on ethanol production by Saccharomyces cerevisiae BY4743. Nine different nanoparticles were synthesized using precipitation method and microwave treatment. The nanoparticles synthesized were characterized by Fourier Transform Infra-Red spectroscopy (FTIR), scanning electron microscopy (SEM) and transmission electron microscopy (TEM). Fermentation processes were carried out at varied NPs concentrations (0 – 0.08 wt%). Highest ethanol concentrations were achieved after 24 h using Cobalt NPs (5.07 g/l), Copper NPs (4.86 g/l) and Manganese NPs (4.74 g/l) at 0.01 wt% NPs concentrations, which represent 13%, 8.7% and 5.4% increase respectively over the control (4.47 g/l). The lowest ethanol concentration (0.17 g/l) was obtained when 0.08 wt% of Silver NPs was used. And lower ethanol concentrations were observed at higher NPs concentration. Ethanol concentration decrease after 24 h for all the processes. In all set up with NPs, the pH was observed to be stable and the stability was directly proportional to nanoparticles concentrations. These findings suggest that the presence of some of the NPs in the bioprocesses has catalytic and pH stabilizing potential. Ethanol production by Saccharomyces cerevisiae BY4743 was enhanced in the presence of Cobalt NPs, Copper NPs and Manganese NPs. Optimization study using response surface methodology (RSM) will further elucidate the impact of these nanoparticles on bioethanol production.

Keywords: agitation, bioethanol, nanoparticles concentration, optimization, pH value

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4646 Finding Optimal Solutions to Management Problems with the use of Econometric and Multiobjective Programming

Authors: M. Moradi Dalini, M. R. Talebi

Abstract:

This research revolves around a technical method according to combines econometric and multiobjective programming to select and obtain optimal solutions to management problems. It is taken for a generation that; it is important to analyze which combination of values of the explanatory variables -in an econometric method- would point to the simultaneous achievement of the best values of the response variables. In this case, if a certain degree of conflict is viewed among the response variables, we suggest a multiobjective method in order to the results obtained from a regression analysis. In fact, with the use of a multiobjective method, we will have the best decision about the conflicting relationship between the response variables and the optimal solution. The combined multiobjective programming and econometrics benefit is an assessment of a balanced “optimal” situation among them because a find of information can hardly be extracted just by econometric techniques.

Keywords: econometrics, multiobjective optimization, management problem, optimization

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4645 A System Dynamic Based DSS for Ecological Urban Management in Alexandria, Egypt

Authors: Mona M. Salem, Khaled S. Al-Hagla, Hany M. Ayad

Abstract:

The concept of urban metabolism has increasingly been employed in a diverse range of disciplines as a mean to analyze and theorize the city. Urban ecology has a particular focus on the implications of applying the metabolism concept to the urban realm. This approach has been developed by a few researchers, though it has rarely if ever been used in policy development for city planning. The aim of this research is to use ecologically informed urban planning interventions to increase the sustainability of urban metabolism; with special focus on land stock as a most important city resource by developing a system dynamic based DSS. This model identifies two critical management strategy variables for the Strategic Urban Plan Alexandria SUP 2032. As a result, this comprehensive and precise quantitative approach is needed to monitor, measure, evaluate and observe dynamic urban changes working as a decision support system (DSS) for policy making.

Keywords: ecology, land resource, LULCC, management, metabolism, model, scenarios, system dynamics, urban development

Procedia PDF Downloads 380
4644 Changes in Textural Properties of Zucchini Slices Under Effects of Partial Predrying and Deep-Fat-Frying

Authors: E. Karacabey, Ş. G. Özçelik, M. S. Turan, C. Baltacıoğlu, E. Küçüköner

Abstract:

Changes in textural properties of any food material during processing is significant for further consumer’s evaluation and directly affects their decisions. Thus any food material should be considered in terms of textural properties after any process. In the present study zucchini slices were partially predried to control and reduce the product’s final oil content. A conventional oven was used for partially dehydration of zucchini slices. Following frying was carried in an industrial fryer having temperature controller. This study was based on the effect of this predrying process on textural properties of fried zucchini slices. Texture profile analysis was performed. Hardness, elasticity, chewiness, cohesiveness were studied texture parameters of fried zucchini slices. Temperature and weight loss were monitored parameters of predrying process, whereas, in frying, oil temperature and process time were controlled. Optimization of two successive processes was done by response surface methodology being one of the common used statistical process optimization tools. Models developed for each texture parameters displayed high success to predict their values as a function of studied processes’ conditions. Process optimization was performed according to target values for each property determined for directly fried zucchini slices taking the highest score from sensory evaluation. Results indicated that textural properties of predried and then fried zucchini slices could be controlled by well-established equations. This is thought to be significant for fried stuff related food industry, where controlling of sensorial properties are crucial to lead consumer’s perception and texture related ones are leaders. This project (113R015) has been supported by TUBITAK.

Keywords: optimization, response surface methodology, texture profile analysis, conventional oven, modelling

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4643 Factor Analysis on Localization of Human Resources of Japanese Firms in Taiwan

Authors: Nana Weng

Abstract:

Localization in the aspect of human resource means more diversity and more opportunities. The main purpose of this article is to identify the perception of local employees and intermediate managers (non-Japanese) and figure out exploratory factors which have been contributing and blocking the level of localization in the aspect of human resource management by using EFA (Exploratory Factors Analysis). Questionnaires will be designed for local employees and managers to inquire about the perceptions of regulations and implementation regarding recruitment, training and development, promotion and rewarding. The study finds that Japanese firms have worked well in the process of localization, especially in hiring and training local staffs in Taiwan. The significance of this study lies in paying more attention to the perception of local employees and intermediate managers regarding localization rather than interviews results from Japanese expatriates or top HR managers who are in charging of localization policy-making.

Keywords: Japanese firms in Taiwan, localization of human resources, exploratory factors analysis, local employees and intermediate managers

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4642 Optimal Sortation Strategy for a Distribution Network in an E-Commerce Supply Chain

Authors: Pankhuri Dagaonkar, Charumani Singh, Poornima Krothapalli, Krishna Karthik

Abstract:

The backbone of any retail e-commerce success story is a unique design of supply chain network, providing the business an unparalleled speed and scalability. Primary goal of the supply chain strategy is to meet customer expectation by offering fastest deliveries while keeping the cost minimal. Meeting this objective at the large market that India provides is the problem statement that we have targeted here. There are many models and optimization techniques focused on network design to identify the ideal facility location and size, optimizing cost and speed. In this paper we are presenting a tactical approach to optimize cost of an existing network for a predefined speed. We have considered both forward and reverse logistics of a retail e-commerce supply chain consisting of multiple fulfillment (warehouse) and delivery centers, which are connected via sortation nodes. The mathematical model presented here determines if the shipment from a node should get sorted directly for the last mile delivery center or it should travel as consolidated package to another node for further sortation (resort). The objective function minimizes the total cost by varying the resort percentages between nodes and provides the optimal resource allocation and number of sorts at each node.

Keywords: distribution strategy, mathematical model, network design, supply chain management

Procedia PDF Downloads 298
4641 Design Optimization and Thermoacoustic Analysis of Pulse Tube Cryocooler Components

Authors: K. Aravinth, C. T. Vignesh

Abstract:

The usage of pulse tube cryocoolers is significantly increased mainly due to the advantage of the absence of moving parts. The underlying idea of this project is to optimize the design of pulse tube, regenerator, a resonator in cryocooler and analyzing the thermo-acoustic oscillations with respect to the design parameters. Computational Fluid Dynamic (CFD) model with time-dependent validation is done to predict its performance. The continuity, momentum, and energy equations are solved for various porous media regions. The effect of changing the geometries and orientation will be validated and investigated in performance. The pressure, temperature and velocity fields in the regenerator and pulse tube are evaluated. This optimized design performance results will be compared with the existing pulse tube cryocooler design. The sinusoidal behavior of cryocooler in acoustic streaming patterns in pulse tube cryocooler will also be evaluated.

Keywords: acoustics, cryogenics, design, optimization

Procedia PDF Downloads 176
4640 Optimization of Flexible Job Shop Scheduling Problem with Sequence-Dependent Setup Times Using Genetic Algorithm Approach

Authors: Sanjay Kumar Parjapati, Ajai Jain

Abstract:

This paper presents optimization of makespan for ‘n’ jobs and ‘m’ machines flexible job shop scheduling problem with sequence dependent setup time using genetic algorithm (GA) approach. A restart scheme has also been applied to prevent the premature convergence. Two case studies are taken into consideration. Results are obtained by considering crossover probability (pc = 0.85) and mutation probability (pm = 0.15). Five simulation runs for each case study are taken and minimum value among them is taken as optimal makespan. Results indicate that optimal makespan can be achieved with more than one sequence of jobs in a production order.

Keywords: flexible job shop, genetic algorithm, makespan, sequence dependent setup times

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4639 Optimization of Black Grass Jelly Formulation to Reduce Leaching and Increase Floating Rate

Authors: M. M. Nor, H. I. Sheikh, M. F. H. Hassan, S. Mokhtar, A. Suganthi, A. Fadhlina

Abstract:

Black grass jelly (BGJ) is a popular black jelly used in preparing various drinks and desserts. Food industries often use preservatives to maintain the physicochemical properties of foods, such as color and texture. These preservatives (e.g., phosphoric acid) are linked with deleterious health effects such as kidney disease. Using gelling agents, carrageenan, and gelatin to make BGJ could improve its physiochemical and textural properties. This study was designed to optimize BGJ-selected physicochemical and textural properties using carrageenan and gelatin. Various black grass jelly formulations (BGJF) were designed using an I-optimal mixture design in Design Expert® software. Data from commercial BGJ were used as a reference during the optimization process. The combination of carrageenan and gelatin added to the formulations was up to 14.38g (~5%), respectively. The results showed that adding 2.5g carrageenan and 2.5g gelatin at approximately 5g (~5%) effectively maintained most of the physiochemical properties with an overall desirability function of 0.81. This formulation was selected as the optimum black grass jelly formulation (OBGJF). The leaching properties and floating duration were measured on the OBGJF and commercial grass jelly for 20 min and 40 min, respectively. The results indicated that OBGJF showed significantly (p<0.0001) lower leaching rate and floating time (p<0.05). Hence, further optimization is needed to increase the floating duration of carrageenan and gelatin-based BGJ.

Keywords: cincau, Mesona chinensis, black grass jelly, carrageenan, gelatin

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4638 Iterative Replanning of Diesel Generator and Energy Storage System for Stable Operation of an Isolated Microgrid

Authors: Jiin Jeong, Taekwang Kim, Kwang Ryel Ryu

Abstract:

The target microgrid in this paper is isolated from the large central power system and is assumed to consist of wind generators, photovoltaic power generators, an energy storage system (ESS), a diesel power generator, the community load, and a dump load. The operation of such a microgrid can be hazardous because of the uncertain prediction of power supply and demand and especially due to the high fluctuation of the output from the wind generators. In this paper, we propose an iterative replanning method for determining the appropriate level of diesel generation and the charging/discharging cycles of the ESS for the upcoming one-hour horizon. To cope with the uncertainty of the estimation of supply and demand, the one-hour plan is built repeatedly in the regular interval of one minute by rolling the one-hour horizon. Since the plan should be built with a sufficiently large safe margin to avoid any possible black-out, some energy waste through the dump load is inevitable. In our approach, the level of safe margin is optimized through learning from the past experience. The simulation experiments show that our method combined with the margin optimization can reduce the dump load compared to the method without such optimization.

Keywords: microgrid, operation planning, power efficiency optimization, supply and demand prediction

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4637 The Impact of Transaction Costs on Rebalancing an Investment Portfolio in Portfolio Optimization

Authors: B. Marasović, S. Pivac, S. V. Vukasović

Abstract:

Constructing a portfolio of investments is one of the most significant financial decisions facing individuals and institutions. In accordance with the modern portfolio theory maximization of return at minimal risk should be the investment goal of any successful investor. In addition, the costs incurred when setting up a new portfolio or rebalancing an existing portfolio must be included in any realistic analysis. In this paper rebalancing an investment portfolio in the presence of transaction costs on the Croatian capital market is analyzed. The model applied in the paper is an extension of the standard portfolio mean-variance optimization model in which transaction costs are incurred to rebalance an investment portfolio. This model allows different costs for different securities, and different costs for buying and selling. In order to find efficient portfolio, using this model, first, the solution of quadratic programming problem of similar size to the Markowitz model, and then the solution of a linear programming problem have to be found. Furthermore, in the paper the impact of transaction costs on the efficient frontier is investigated. Moreover, it is shown that global minimum variance portfolio on the efficient frontier always has the same level of the risk regardless of the amount of transaction costs. Although efficient frontier position depends of both transaction costs amount and initial portfolio it can be concluded that extreme right portfolio on the efficient frontier always contains only one stock with the highest expected return and the highest risk.

Keywords: Croatian capital market, Markowitz model, fractional quadratic programming, portfolio optimization, transaction costs

Procedia PDF Downloads 389
4636 Process Optimization for Albanian Crude Oil Characterization

Authors: Xhaklina Cani, Ilirjan Malollari, Ismet Beqiraj, Lorina Lici

Abstract:

Oil characterization is an essential step in the design, simulation, and optimization of refining facilities. To achieve optimal crude selection and processing decisions, a refiner must have exact information refer to crude oil quality. This includes crude oil TBP-curve as the main data for correct operation of refinery crude oil atmospheric distillation plants. Crude oil is typically characterized based on a distillation assay. This procedure is reasonably well-defined and is based on the representation of the mixture of actual components that boil within a boiling point interval by hypothetical components that boil at the average boiling temperature of the interval. The crude oil assay typically includes TBP distillation according to ASTM D-2892, which can characterize this part of oil that boils up to 400 C atmospheric equivalent boiling point. To model the yield curves obtained by physical distillation is necessary to compare the differences between the modelling and the experimental data. Most commercial use a different number of components and pseudo-components to represent crude oil. Laboratory tests include distillations, vapor pressures, flash points, pour points, cetane numbers, octane numbers, densities, and viscosities. The aim of the study is the drawing of true boiling curves for different crude oil resources in Albania and to compare the differences between the modeling and the experimental data for optimal characterization of crude oil.

Keywords: TBP distillation curves, crude oil, optimization, simulation

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4635 Wait-Optimized Scheduler Algorithm for Efficient Process Scheduling in Computer Systems

Authors: Md Habibur Rahman, Jaeho Kim

Abstract:

Efficient process scheduling is a crucial factor in ensuring optimal system performance and resource utilization in computer systems. While various algorithms have been proposed over the years, there are still limitations to their effectiveness. This paper introduces a new Wait-Optimized Scheduler (WOS) algorithm that aims to minimize process waiting time by dividing them into two layers and considering both process time and waiting time. The WOS algorithm is non-preemptive and prioritizes processes with the shortest WOS. In the first layer, each process runs for a predetermined duration, and any unfinished process is subsequently moved to the second layer, resulting in a decrease in response time. Whenever the first layer is free or the number of processes in the second layer is twice that of the first layer, the algorithm sorts all the processes in the second layer based on their remaining time minus waiting time and sends one process to the first layer to run. This ensures that all processes eventually run, optimizing waiting time. To evaluate the performance of the WOS algorithm, we conducted experiments comparing its performance with traditional scheduling algorithms such as First-Come-First-Serve (FCFS) and Shortest-Job-First (SJF). The results showed that the WOS algorithm outperformed the traditional algorithms in reducing the waiting time of processes, particularly in scenarios with a large number of short tasks with long wait times. Our study highlights the effectiveness of the WOS algorithm in improving process scheduling efficiency in computer systems. By reducing process waiting time, the WOS algorithm can improve system performance and resource utilization. The findings of this study provide valuable insights for researchers and practitioners in developing and implementing efficient process scheduling algorithms.

Keywords: process scheduling, wait-optimized scheduler, response time, non-preemptive, waiting time, traditional scheduling algorithms, first-come-first-serve, shortest-job-first, system performance, resource utilization

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4634 Multi-Objective Optimization of an Aerodynamic Feeding System Using Genetic Algorithm

Authors: Jan Busch, Peter Nyhuis

Abstract:

Considering the challenges of short product life cycles and growing variant diversity, cost minimization and manufacturing flexibility increasingly gain importance to maintain a competitive edge in today’s global and dynamic markets. In this context, an aerodynamic part feeding system for high-speed industrial assembly applications has been developed at the Institute of Production Systems and Logistics (IFA), Leibniz Universitaet Hannover. The aerodynamic part feeding system outperforms conventional systems with respect to its process safety, reliability, and operating speed. In this paper, a multi-objective optimisation of the aerodynamic feeding system regarding the orientation rate, the feeding velocity and the required nozzle pressure is presented.

Keywords: aerodynamic feeding system, genetic algorithm, multi-objective optimization, workpiece orientation

Procedia PDF Downloads 579
4633 The Sustainability of Human Resource Planning for Construction Projects

Authors: Adegbenga Ashiru, Adebimpe L. Ashiru

Abstract:

The construction industry is considered to work by diversifying personnel. Hence managing human resource is an issue considered to be a highly challenging task. Nonetheless, HR planning for the construction project is a very critical aspect of managing human resource within an expanding nature of construction industry, and there are rising concerns over the failure of construction planning to achieve its goals in spite of the substantial resources allocated to it and as a result of different planning strategies. To justify the above statement, this research was carried out to examine the sustainability of HR planning for construction project. Based on the researcher’s experience, a quantitative approach was adopted that provided a broader understanding of the research and was analysed using descriptive statistics and inferential statistics. The Statistical Package for the Social Sciences (SPSS) was used to obtain the descriptive and inferential statistical analysis. However, research findings showed that literature sources agreed with varying challenges of HR planning on construction projects which were justified by empirical findings. Also, the paper identified four major factors and the key consideration for Project HR Planning (Organisation’s structure with right individuals at right positions and evaluation current resources) will lead to the efficient utilisation implementation of new HR Planning technique and tools for a construction project. Essentially the main reoccurring theme identified was that management of the construction organisations needs to look into the essential factors needed to be considered at the strategic level. Furthermore, leaders leading a construction project team should consider those essential factors needed at the operational level to clarify the numerous functions of HRM in the construction organisations and avoid inconsistencies among several practices on construction projects. The Sustainability of HR planning for construction project policy was indicated and recommendations were made for further future research.

Keywords: construction industry, HRM planning in construction, SHRM in construction, HR planning in construction

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4632 An Evolutionary Approach for QAOA for Max-Cut

Authors: Francesca Schiavello

Abstract:

This work aims to create a hybrid algorithm, combining Quantum Approximate Optimization Algorithm (QAOA) with an Evolutionary Algorithm (EA) in the place of traditional gradient based optimization processes. QAOA’s were first introduced in 2014, where, at the time, their algorithm performed better than the traditional best known classical algorithm for Max-cut graphs. Whilst classical algorithms have improved since then and have returned to being faster and more efficient, this was a huge milestone for quantum computing, and their work is often used as a benchmarking tool and a foundational tool to explore variants of QAOA’s. This, alongside with other famous algorithms like Grover’s or Shor’s, highlights to the world the potential that quantum computing holds. It also presents the reality of a real quantum advantage where, if the hardware continues to improve, this could constitute a revolutionary era. Given that the hardware is not there yet, many scientists are working on the software side of things in the hopes of future progress. Some of the major limitations holding back quantum computing are the quality of qubits and the noisy interference they generate in creating solutions, the barren plateaus that effectively hinder the optimization search in the latent space, and the availability of number of qubits limiting the scale of the problem that can be solved. These three issues are intertwined and are part of the motivation for using EAs in this work. Firstly, EAs are not based on gradient or linear optimization methods for the search in the latent space, and because of their freedom from gradients, they should suffer less from barren plateaus. Secondly, given that this algorithm performs a search in the solution space through a population of solutions, it can also be parallelized to speed up the search and optimization problem. The evaluation of the cost function, like in many other algorithms, is notoriously slow, and the ability to parallelize it can drastically improve the competitiveness of QAOA’s with respect to purely classical algorithms. Thirdly, because of the nature and structure of EA’s, solutions can be carried forward in time, making them more robust to noise and uncertainty. Preliminary results show that the EA algorithm attached to QAOA can perform on par with the traditional QAOA with a Cobyla optimizer, which is a linear based method, and in some instances, it can even create a better Max-Cut. Whilst the final objective of the work is to create an algorithm that can consistently beat the original QAOA, or its variants, due to either speedups or quality of the solution, this initial result is promising and show the potential of EAs in this field. Further tests need to be performed on an array of different graphs with the parallelization aspect of the work commencing in October 2023 and tests on real hardware scheduled for early 2024.

Keywords: evolutionary algorithm, max cut, parallel simulation, quantum optimization

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4631 Multi-Criteria Decision-Making in Ranking Drinking Water Supply Options (Case Study: Tehran City)

Authors: Mohsen Akhlaghi, Tahereh Ebrahimi

Abstract:

Considering the increasing demand for water and limited resources, there is a possibility of a water crisis in the not-so-distant future. Therefore, to prevent this crisis, other options for drinking water supply should be examined. In this regard, the application of multi-criteria decision-making methods in various aspects of water resource management and planning has always been of great interest to researchers. In this report, six options for supplying drinking water to Tehran City were considered. Then, experts' opinions were collected through matrices and questionnaires, and using the TOPSIS method, which is one of the types of multi-criteria decision-making methods, they were calculated and analyzed. In the TOPSIS method, the options were ranked by calculating their proximity to the ideal (Ci). The closer the numerical value of Ci is to one, the more desirable the option is. Based on this, the option with the optimization pattern of water consumption, with Ci = 0.9787, is the best option among the proposed options for supplying drinking water to Tehran City. The other options, in order of priority, are rainwater harvesting, wastewater reuse, increasing current water supply sources, desalination and its transfer, and transferring water from freshwater sources between basins. In conclusion, the findings of this study highlight the importance of exploring alternative drinking water supply options and utilizing multi-criteria decision-making approaches to address the potential water crisis.

Keywords: multi-criteria decision, sustainable development, topsis, water supply

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4630 An Optimization Algorithm for Reducing the Liquid Oscillation in the Moving Containers

Authors: Reza Babajanivalashedi, Stefania Lo Feudo, Jean-Luc Dion

Abstract:

Liquid sloshing is a crucial problem for the dynamic of moving containers in the packaging industries. Sloshing issues have been so far mainly modeled within the framework of fluid dynamics or by using equivalent mechanical models with different kinds of movements and shapes of containers. Nevertheless, these approaches do not allow to determinate the shape of the free surface of the liquid in case of the irregular shape of the moving containers, so that experimental measurements may be required. If there is too much slosh in the moving tank, the liquid can be splashed out on the packages. So, the free surface oscillation must be controlled/reduced to eliminate the splashing. The purpose of this research is to propose an optimization algorithm for finding an optimum command law to reduce surface elevation. In the first step, the free surface of the liquid is simulated based on the separation variable and weak formulation models. Then Genetic and Gradient algorithms are developed for finding the optimum command law. The optimum command law is compared with existing command laws, and the results show that there is a significant difference in surface oscillation between optimum and existing command laws. This algorithm is applicable for different varieties of bottles in case of using the camera for detecting the liquid elevation, and it can produce new command laws for different kinds of tanks to reduce the surface oscillation and remove the splashing phenomenon.

Keywords: sloshing phenomenon, separation variables, weak formulation, optimization algorithm, command law

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