Search results for: net present cost (NPC)

Authors: Rudi Kurniawan Arief

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Manufacturing cost and setup time are the hot topics to improve in Metal Stamping industry because material and components price are always rising up while costumer requires to cut down the component price year by year. The Single Minute Exchange of Die (SMED) is one of many methods to reduce waste in stamping industry. The Japanese Quick Die Change (QDC) dies system is one of SMED systems that could reduce both of setup time and manufacturing cost. However, this system is rarely used in stamping industries. This paper will analyze how deep the QDC dies system could reduce setup time and the manufacturing cost. The research is conducted by direct observation, simulating and comparing of QDC dies system with conventional dies system. In this research, we found that the QDC dies system could save up to 35% of manufacturing cost and reduce 70% of setup times. This simulation proved that the QDC die system is effective for cost reduction but must be applied in several parallel production processes.

Keywords: press die, metal stamping, QDC system, single minute exchange die, manufacturing cost saving, SMED

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Authors: Haj Najafi Leila, Tehranizadeh Mohsen

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Dependencies between diverse factors involved in probabilistic seismic loss evaluation are recognized to be an imperative issue in acquiring accurate loss estimates. Dependencies among component damage costs could be taken into account considering two partial distinct states of independent or perfectly-dependent for component damage states; however, in our best knowledge, there is no available procedure to take account of loss dependencies in story level. This paper attempts to present a method called "modal cost superposition method" for decoupling story damage costs subjected to earthquake ground motions dealt with closed form differential equations between damage cost and engineering demand parameters which should be solved in complex system considering all stories' cost equations by the means of the introduced "substituted matrixes of mass and stiffness". Costs are treated as probabilistic variables with definite statistic factors of median and standard deviation amounts and a presumed probability distribution. To supplement the proposed procedure and also to display straightforwardness of its application, one benchmark study has been conducted. Acceptable compatibility has been proven for the estimated damage costs evaluated by the new proposed modal and also frequently used stochastic approaches for entire building; however, in story level, insufficiency of employing modification factor for incorporating occurrence probability dependencies between stories has been revealed due to discrepant amounts of dependency between damage costs of different stories. Also, more dependency contribution in occurrence probability of loss could be concluded regarding more compatibility of loss results in higher stories than the lower ones, whereas reduction in incorporation portion of cost modes provides acceptable level of accuracy and gets away from time consuming calculations including some limited number of cost modes in high mode situation.

Keywords: dependency, story-cost, cost modes, engineering demand parameter

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Authors: Chandrashekara Krishnappa, Yogish Huchaiah

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The present work considers the importance of economic feasibility and financial viability of biodiesel production, and its use in the present context of prevailing Indian scenario. For this, costs involved in production of one litre of biodiesel from non-edible Jatropha and Pongamia oils Nano mix are considered. Biodiesel derived from the mix is blended with petrodiesel in various proportions and used in Compression Ignition (CI) Direct Injection (DI) engine. Performance and Emission characteristics were investigated. Optimization of the blends considering experimental results was carried out. To validate the experimental results and optimization, Multi-Functional Criteria Technique (MFCT) is used. Further, value additions in terms of INR due to increase in performance and reduction in emissions are investigated. Cost component of subsidy on petrodiesel is taken into consideration in the calculation of cost of one litre of it. Comparison of costs is with respect to the unit of power generated per litre of COME and petrodiesel. By the analysis it has been concluded that the amount saved with subsidy is INR 1.45 Lakh Crores per year and it is INR1.60 Lakh Crores per year without subsidy for petrodiesel.

Keywords: cap value addition, economic analysis, MFCT, NACOME, subsidy

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Authors: Paolo Lenzuni

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Cost-effectiveness of noise abatement treatments at the workplace has not yet received adequate consideration. Furthermore, most of the published work is focused on productivity, despite the poor correlation of this quantity with noise levels. There is currently no tool to estimate the social benefit associated to a specific noise abatement treatment, and no comparison among different options is accordingly possible. In this paper, we present an algorithm which has been developed to predict the cost-effectiveness of any planned noise control treatment in a workplace. This algorithm is based the estimates of hearing threshold shifts included in ISO 1999, and on compensations that workers are entitled to once their work-related hearing impairments have been certified. The benefits of a noise abatement treatment are estimated by means of the lower compensation costs which are paid to the impaired workers. Although such benefits have no real meaning in strictly monetary terms, they allow a reliable comparison between different treatments, since actual social costs can be assumed to be proportional to compensation costs. The existing European legislation on occupational exposure to noise it mandates that the noise exposure level be reduced below the upper action limit (85 dBA). There is accordingly little or no motivation for employers to sustain the extra costs required to lower the noise exposure below the lower action limit (80 dBA). In order to make this goal more appealing for employers, the algorithm proposed in this work also includes an ad-hoc element that promotes actions which bring the noise exposure down below 80 dBA. The algorithm has a twofold potential: 1) it can be used as a quality index to promote cost-effective practices; 2) it can be added to the existing criteria used by workers’ compensation authorities to evaluate the cost-effectiveness of technical actions, and support dedicated employers.

Keywords: cost-effectiveness, noise, occupational exposure, treatment

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Authors: Arjun Paul, Adrijit Goswami

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In our present work, an economic order quantity inventory model with shortages is developed where holding cost is expressed as linearly increasing function of time and demand rate is a ramp type function of time. The items considered in the model are deteriorating in nature so that a small fraction of the items is depleted with the passage of time. In order to consider a more realistic situation, the deterioration rate is assumed to follow a continuous uniform distribution with the parameters involved being triangular fuzzy numbers. The inventory manager offers his customer a discount in case he is willing to backorder his demand when there is a stock-out. The optimum ordering policy and the optimum discount offered for each backorder are determined by minimizing the total cost in a replenishment interval. For better illustration of our proposed model in both the crisp and fuzzy sense and for providing richer insights, a numerical example is cited to exemplify the policy and to analyze the sensitivity of the model parameters.

Keywords: fuzzy deterioration rate, price discount on backorder, ramp type demand, shortage, time varying holding cost

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Authors: S. Akinde, Jubril Olatunbosun

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In recent years, most of the urban centers in Nigeria are fast experiencing housing problems such as unaffordable housing and environmental challenges, all of which determine the nature of housing quality. The population continues to increase and the demand for quality housing increases probably at the same rate. Several kinds of houses serve various purposes; the objectives of the low cost housing schemes as the name suggests is to make houses quality to both the middle and lower classes of people in Lagos. A casual look into the study area of Iba Low Cost Housing Estate and the Unity Low Cost Housing Estate, Ojo and Alimosho respectively in Lagos State have shown a huge demands for houses. The study area boasts of a large population all engaged in various commercial activities with income at various levels. It would be fair to say that these people are mainly of the middle class and lower class. This means the low cost housing scheme truly serves these purposes. A Low Cost Housing Scheme of Iba which is publicly owned and Low Cost Housing Scheme of Unity Estate (UE) is privately owned.  

Keywords: housing, residential quality, low cost housing scheme, public, private estates

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Authors: Maziyar Nouraee

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Electronic markets in recent decades contribute remarkably in business transactions. Many organizations consider traditional ways of trade non-economical and therefore they do trade only through electronic markets. There are different categorizations of electronic markets functions. In one classification, functions of electronic markets are categorized into classes as information, transactions, and value added. In the present paper, effects of the three classes on the two major elements of the supply chain management are measured. The two elements are decrease in the product unit cost and reduction in response time to the customer. The results of the current research show that among nine minor elements related to the three classes of electronic markets functions, six factors and three factors influence on reduction of the product unit cost and reduction of response time to the customer, respectively.

Keywords: electronic commerce, electronic market, B2B trade, supply chain management

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Authors: Abhishek Ranga

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The study examined the effect of accounting choice and level of disclosure on the firm’s implied cost of equity in Indian environment. For the study accounting choice was classified as aggressive or conservative depending upon the firm’s choice of accounting methods, accounting policies and accounting estimates. Level of disclosure is the quantum of financial and non-financial information disclosed in firm’s annual report, essentially in note to accounts section, schedules forming part of financial statements and Management Discussion and Analysis report. Regression models were developed with cost of equity as a dependent variable and accounting choice, level of disclosure as an independent variable along with selected control variables. Cost of equity was measured using Edward-Bell-Ohlson (EBO) valuation model, to measure accounting choice Modified-Jones-Model (MJM) was used and level of disclosure was measured using a disclosure index essentially drawn from Botosan study. Results indicated a negative association between the implied cost of equity and conservative accounting choice and also between level of disclosure and cost of equity.

Keywords: aggressive accounting choice, conservative accounting choice, disclosure, implied cost of equity

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Authors: Alexander Hendricks, Sean Nevin, Clayton Wikoff, Melissa Dougherty, Jacob Orlita, Rafiqul Noorani

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Knee orthotics play an important role in aiding in the recovery of those with knee injuries, especially athletes. However, structural knee orthotics is often very expensive, ranging between $300 and $800. The primary reason for this project was to answer the question: can 3D printed orthotics represent a viable and cost-effective alternative to present structural knee orthotics? The primary objective for this research project was to design a knee orthotic for athletes with knee injuries for a low-cost under $100 and evaluate its effectiveness. The initial design for the orthotic was done in SolidWorks, a computer-aided design (CAD) software available at Loyola Marymount University. After this design was completed, finite element analysis (FEA) was utilized to understand how normal stresses placed upon the knee affected the orthotic. The knee orthotic was then adjusted and redesigned to meet a specified factor-of-safety of 3.25 based on the data gathered during FEA and literature sources. Once the FEA was completed and the orthotic was redesigned based from the data gathered, the next step was to move on to 3D-printing the first design of the knee brace. Subsequently, physical therapy movement trials were used to evaluate physical performance. Using the data from these movement trials, the CAD design of the brace was refined to accommodate the design requirements. The final goal of this research means to explore the possibility of replacing high-cost, outsourced knee orthotics with a readily available low-cost alternative.

Keywords: 3D printing, knee orthotics, finite element analysis, design for additive manufacturing

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Authors: Dina K. Badawy, Dina M. Ibrahim, Alsayed A. Sallam

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Distributed database is a collection of logically related databases that cooperate in a transparent manner. Query processing uses a communication network for transmitting data between sites. It refers to one of the challenges in the database world. The development of sophisticated query optimization technology is the reason for the commercial success of database systems, which complexity and cost increase with increasing number of relations in the query. Mariposa, query trading and query trading with processing task-trading strategies developed for autonomous distributed database systems, but they cause high optimization cost because of involvement of all nodes in generating an optimal plan. In this paper, we proposed a modification on the autonomous strategy K-QTPT that make the seller’s nodes with the lowest cost have gradually high priorities to reduce the optimization time. We implement our proposed strategy and present the results and analysis based on those results.

Keywords: autonomous strategies, distributed database systems, high priority, query optimization

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Authors: Dilupa Nakandala, Henry Lau

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Ever increasing demand for cost efficiency and customer satisfaction through reliable delivery have been a mandate for logistics practitioners to continually improve inventory management processes. With the cost optimization objectives, this study considers an extended scenario where sourcing from the same echelon of the supply chain, known as lateral transshipment which is instantaneous but more expensive than purchasing from regular suppliers, is considered by warehouses not only to re-actively fulfill the urgent outstanding retailer demand that could not be fulfilled by stock on hand but also for preventively reduce back-order cost. Such extra lateral trans-shipments as preventive responses are intended to meet the expected demand during the supplier lead time in a periodic review ordering policy setting. We develop decision rules to assist logistics practitioners to make cost optimized selection between back-ordering and combined reactive and proactive lateral transshipment options. A method for determining the optimal quantity of extra lateral transshipment is developed considering the trade-off between purchasing, holding and backorder cost components.

Keywords: lateral transshipment, warehouse inventory management, cost optimization, preventive transshipment

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Authors: Marwa M. Ibrahim

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The objective of this research is to study the technical and economic performance of wind/diesel/battery (W/D/B) off-grid system supplying a small remote gathering of four families using the HOMER software package. The second objective is to study the effect of wind energy system on the cost of generated electricity considering the cost of reducing CO₂ emissions as external benefit of wind turbines, no pollutant emission through the operational phase. The system consists of a small wind turbine, battery storage, and diesel generator. The electrical energy is to cater to the basic needs for which the daily load pattern is estimated at 8 kW peak. Net Present Cost (NPC) and Cost of Energy (COE) are used as economic criteria, while the measure of performance is % of power shortage. Technical and economic parameters are defined to estimate the feasibility of the system under study. Optimum system configurations are estimated for the selected site in Egypt. Using HOMER software, the simulation results shows that W/D/B systems are economical for the assumed community site as the price of generated electricity is about 0.285 $/kWh, without taking external benefits into considerations and 0.221 if CO₂ emissions taken into consideration W/D/B systems are more economical than alone diesel system as the COE is 0.432 $/kWh for diesel alone.

Keywords: renewable energy, hybrid energy system, on-off grid system, simulation, optimization and environmental impacts

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Authors: Fehmi Bouguezzi

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This paper studies optimal licensing regimes in a linear Hotelling model where firms are located at the end points of the city and where the transportation cost is not linear but quadratic. We study for that a more general cost function and we try to compare the findings with the results of the linear cost. We find the same optimal licensing regimes. A per unit royalty is optimal when innovation is not drastic and no licensing is better when innovation is drastic. We also find that no licensing is always better than fixed fee licensing.

Keywords: Hotelling model, technology transfer, patent licensing, quadratic transportation cost

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Authors: Mihai Liviu Despa

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The paper tackles the topic of determining the cost of innovation in software development projects. Innovation can be achieved either in a planned or unplanned manner. The paper approaches the scenarios were innovation is planned for. As a starting point an innovative software development project is analyzed. The project is depicted step by step as it was implemented, from inception to delivery. Costs that are proprietary to innovation in software development are isolated based on the author’s personal experience in managing the above mentioned project. Innovation costs components identified by the author are then validated using open discussions with software development professionals and projects managers on LinkedIn groups. In order to receive relevant feedback only groups that focus on software development and innovation management are targeted. Additional innovation cost components suggested by software development professionals and projects managers are also considered. Based on the identified cost components an indicator is built. The indicator is meant to formalize the process of determining the cost of innovation in a software development project. The indicator aggregates all the innovation cost components that are identified in the research process. The process of calculating each cost component is also described. Conclusions are formulated and new related research topics are submitted for debate.

Keywords: innovation cost, IT project management, software development, innovation management

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Authors: Fayaz Moosavi, Saeid Moradyfard

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One of the methods in avoiding management fraud and increasing the quality of financial information, is the notification of qualitative features of financial information, including conservatism characteristic. Although taking a conservatism approach, while boosting the quality of financial information, is able to reduce the informational risk and the cost of capital stock of commercial department, by presenting an improper image about the situation of the commercial department, raises the risk of failure in returning the main and capital interest, and consequently the cost of capital of the commercial department. In order to know if conservatism finally leads to the increase or decrease of the cost of capital or does not have any influence on it, information regarding accepted companies in Tehran stock exchange is utilized by application of pooling method from 2007 to 2012 and it included 124 companies. The results of the study revealed that there is an opposite and meaningful relationship between conditional conservatism and the cost of capital of the company. In other words, if bad and unsuitable news and signs are reflected sooner than good news in accounting profit, the cost of capital of the company increases. In addition, there is a positive and meaningful relationship between the cost of capital and lack of information asymmetry.

Keywords: conditional conservatism, lack of information asymmetry, the cost of capital, stock exchange

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Authors: Othman Maklouf, Abdunnaser Tresh

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Land vehicle navigation is subject of great interest today. Global Positioning System (GPS) is the main navigation system for positioning in such systems. GPS alone is incapable of providing continuous and reliable positioning, because of its inherent dependency on external electromagnetic signals. Inertial Navigation (INS) is the implementation of inertial sensors to determine the position and orientation of a vehicle. The availability of low-cost Micro-Electro-Mechanical-System (MEMS) inertial sensors is now making it feasible to develop INS using an inertial measurement unit (IMU). INS has unbounded error growth since the error accumulates at each step. Usually, GPS and INS are integrated with a loosely coupled scheme. With the development of low-cost, MEMS inertial sensors and GPS technology, integrated INS/GPS systems are beginning to meet the growing demands of lower cost, smaller size, and seamless navigation solutions for land vehicles. Although MEMS inertial sensors are very inexpensive compared to conventional sensors, their cost (especially MEMS gyros) is still not acceptable for many low-end civilian applications (for example, commercial car navigation or personal location systems). An efficient way to reduce the expense of these systems is to reduce the number of gyros and accelerometers, therefore, to use a partial IMU (ParIMU) configuration. For land vehicular use, the most important gyroscope is the vertical gyro that senses the heading of the vehicle and two horizontal accelerometers for determining the velocity of the vehicle. This paper presents a field experiment for a low-cost strap down (ParIMU)\GPS combination, with data post processing for the determination of 2-D components of position (trajectory), velocity and heading. In the present approach, we have neglected earth rotation and gravity variations, because of the poor gyroscope sensitivities of our low-cost IMU (Inertial Measurement Unit) and because of the relatively small area of the trajectory.

Keywords: GPS, IMU, Kalman filter, materials engineering

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Authors: Suppawan Lertpongpakpoom, Anongnat Boonrat, Kunya BoontummoSuppawan

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This descriptive cost analysis aimed to analyze the unit cost of patients in medical intensive care unit. Purposive sampling was used to select 20 nurses, 6 practical nurses, 5 nurses aid and select samples 30 patients. Data were collected from both primary source (activity and average time of nursing care) and secondary source Z bill of payment and patient record). Instruments were cost recording form, activity observation form, and service recording form. Content validity of all instruments were evaluated by three experts (CVI = 0.87). Descriptive statistics was employed for data analysis. The results of the Activity-Based Costing Analysis showed that total activity cost of 4 service types for the patients was 14,776.92 Bath. The highest cost was nursing record was 5,674.78 Bath, followed direct nursing activity was 5,176.18 Bath, medical treatment was 1,976.6 Bath. The lowest cost was management activity was 1,003.64 Bath per visit. The result suggested that Activity-Base Costing Analysis could be applied to give better understanding of cost structure, enabling better consideration wasted expense and non-value-added activity, and improvement of effective utilization.

Keywords: activity-based costing, medical intensive care, nursing care, cost analysis

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Authors: Saidu Ibrahim, Winston M. W. Shakantu

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The problem of construction material waste remains unresolved, as a significant percentage of the materials delivered to some project sites end up as waste which might result in additional project cost. Cost overrun is a problem which affects 90% of the completed projects in the world. The argument on how to eliminate it has been on-going for the past 70 years, but there is neither substantial improvement nor significant solution for mitigating its detrimental effects. Research evidence has proposed various construction cost overruns and material-waste management approaches; nonetheless, these studies failed to give a clear indication on the framework and the equation for managing construction material waste and cost overruns. Hence, this research aims to develop a conceptual framework and a mathematical equation for managing material waste and cost overrun in the construction industry. The paper adopts the desktop methodological approach. This involves comparing the causes of material waste and those of cost overruns from the literature to determine the possible relationship. The review revealed a relationship between material waste and cost overrun that; increase in material waste would result to a corresponding increase in the amount of cost overrun at both the pre-contract and the post contract stages of a project. It was found from the equation that achieving an effective construction material waste management must ensure a “Good Quality-of-Planning, Estimating, and Design Management” and a “Good Quality- of-Construction, Procurement and Site Management”; a decrease in “Design Complexity” which would reduce “Material Waste” and subsequently reduce the amount of cost overrun by 86.74%. The conceptual framework and the mathematical equation developed in this study are recommended to the professionals of the construction industry.

Keywords: conceptual framework, cost overrun, material waste, project stags

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Authors: Hafiz Muhammad Umer Aslam, Mohammad Rafiq Khan

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This techno-economic study reports the feasibility of generating thermoelectric power from municipal solid waste (MSW) of Kasur City by incineration process. The data was gathered from different establishments of Kasur, through appropriate permission from their heads, and processed to design different alternative projects for installation of a thermal power plant in the city of Kasur. A technique of discounted cash flow was used to evaluate alternative projects so that their Benefit to Cost Ratio, Net Present Value, Internal Rate of Return and Payback Period can be determined. The study revealed that Kasur City currently consumes 18MWh electricity and generates 179 tons/day MSW. The generated waste has the ability to produce 2.1MWh electricity at the cost of USD 0.0581/unit with an expenditure of USD 3,907,692 as initial fixed investment of forming about 1/7th of consumption of Kasur. The cost from this source, when compared to current rate of electricity in Pakistan (USD 0.1346), is roughly half.

Keywords: Kasur City, resource recovery, thermoelectric power, waste management

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Authors: Morten Stigaard Laursen, Rasmus Nyholm Jørgensen, Mads Dyrmann, Robert Poulsen

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For the past three years, the Danish project, RoboWeedSupport, has sought to bridge the gap between the potential herbicide savings using a decision support system and the required weed inspections. In order to automate the weed inspections it is desired to generate a map of the weed species present within the field, to generate the map images must be captured with samples covering the field. This paper investigates the economical cost of performing this data collection based on a camera system mounted on a all-terain vehicle (ATV) able to drive and collect data at up to 50 km/h while still maintaining a image quality sufficient for identifying newly emerged grass weeds. The economical estimates are based on approximately 100 hectares recorded at three different locations in Denmark. With an average image density of 99 images per hectare the ATV had an capacity of 28 ha per hour, which is estimated to cost 6.6 EUR/ha. Alternatively relying on a boom solution for an existing tracktor it was estimated that a cost of 2.4 EUR/ha is obtainable under equal conditions.

Keywords: weed mapping, integrated weed management, weed recognition, image acquisition

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Authors: Jayant Kumar, Aarcha Jayachandran Sasikala, Barry Adrian Shepherd

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Public Distribution System is a flagship welfare programme of the Government of India with both historical and political significance. Targeted at lower sections of society,it is one of the largest supply chain networks in the world. There has been several studies by academics and planning commission about the effectiveness of the system. Our study focuses on applying predictive analytics to aid the central body to keep track of the problem of breach of service level agreement between the two echelons of food supply chain. Each shop breach is leading to a potential additional inventory carrying cost. Thus, through this study, we aim to show that aided with such analytics, the network can be made more cost effective. The methods we illustrate in this study are applicable to other commercial supply chains as well.

Keywords: PDS, analytics, cost effectiveness, Karnataka, inventory cost, service level JEL classification: C53

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Authors: Bruno Mazorra Roig

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In the realm of cost-sharing mechanisms, the vulnerability to Sybil strategies, where agents can create fake identities to manipulate outcomes, has not yet been studied. In this paper, we delve into the intricacies of different cost-sharing mechanisms proposed in the literature, highlighting its non-Sybil-resistance nature. Furthermore, we prove that under mild conditions, a Sybil-proof cost-sharing mechanism for public excludable goods is at least (n/2 + 1)−approximate. This finding reveals an exponential increase in the worst-case social cost in environments where agents are restricted from using Sybil strategies. We introduce the concept of Sybil Welfare Invariant mechanisms, where a mechanism maintains its worst-case welfare under Sybil strategies for every set of prior beliefs with full support even when the mechanism is not Sybil-proof. Finally, we prove that the Shapley value mechanism for public excludable goods holds this property and so deduce that the worst-case social cost of this mechanism is the nth harmonic number Hn under the equilibrium of the game with Sybil strategies, matching the worst-case social cost bound for cost-sharing mechanisms. This finding carries important implications for decentralized autonomous organizations (DAOs), indicating that they are capable of funding public excludable goods efficiently, even when the total number of agents is unknown.

Keywords: game theory, mechanism design, cost sharing, false-name proofness

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Authors: S. U. Kunya, S. Abdulkadir, M. A. Anas, L. Z. Adam

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Procurement methods is described as systems of contractual arrangements used by the contractor in order to secure the design and construction services based on the stipulated cost and within the required time and quality. Despite that, major projects in the Nigerian construction industry failed because of wrong procurement methods with major consequences leads to cost overrun which needs to find lasting solution. The aim of the study is to evaluate the influence of procurement methods on cost performance of building projects in Gombe State, Nigeria. Study adopts descriptive and explorative design approach. Data were collected through administering of one hundred questionnaire using convenient sampling techniques. Data analyses using percentages, mean value and Anova analysis. Major finding show that more than fifty percent (50%) of procurement methods available are mainly utilized in the study area and the top procurement methods that have high impacts on cost performance as compare with the other methods is project management and direct labour procurement methods. The results of hypothesis’ tests with pvalue 0.12 and 0.07 validated that there was no significant variation in the perception of stakeholders’ on the impacts of procurements methods on cost performance. Therefore, the study concluded that projects management and direct labour are the most appropriate procurement methods that will ensure successful completion of project at stipulated cost in building projects.

Keywords: cost, effects, performance, procurement, projects

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Authors: Nsikan Affiah, Kayode Osungbade, Williams Uzoma

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Malaria remains one of the major killers of humans worldwide, threatening the lives of more than one-third of the world’s population. Some people refers it to; a disease of poverty because it contributes towards national poverty through its impact on foreign direct investment, tourism, labour productivity, and trade. At the micro level, it may cause poverty through spending on health care, income losses, and premature deaths. Unfortunately, malaria is a disease that affects both low-income household and its high-income counterpart, but low-income households are still at greater risk because significant part of the available monthly income is dedicated to various preventive and treatment measures. The objective of this study is to estimate direct and indirect cost of malaria treatment in households in a section of South-South Region (Akwa Ibom State) of Nigeria. A cross-sectional study of Six Hundred and Forty (640) heads of households or any adult representative of households in three local government areas of Akwa Ibom State, Nigeria from May 1-31, 2015 were ascertained through interviewer-administered questionnaire adapted from Nigerian Malaria Indicator Survey Report. The clustering technique was used to select 640 households with the help of Primary Health Care (PHC) house numbering system. Using exchange rate of 197 Naira/USD, result shows that direct cost of malaria treatment was 8,894.44 USD while the indirect cost of malaria treatment was 11,012.81 USD. Total cost of treatment made up of 44.7% direct cost and 55.3% indirect cost, with average direct cost of malaria treatment per household estimated at 20.6 USD and the average indirect cost of treatment per household estimated at 25.1 USD. Average total cost for each episode (888) of malaria was estimated at 22.4 USD. While at household level, the average total cost was estimated at 45.5 USD. From the average total cost, low-income households would spend 36% of monthly household income on treating malaria and the impact could be said to be catastrophic, compared to high-income households where only 1.2% of monthly household income is spent on malaria treatment. It could be concluded that the cost of malaria treatment is well beyond the means of households and given the reality of repeated bouts of malaria and its contribution to the impoverishment of households, there is a need for urgent action.

Keywords: direct cost, indirect cost, low income households, malaria

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Authors: Watcharapan Sukkerd, Teeradej Wuttipornpun

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This paper aims to present non-population search algorithms called tabu search (TS), simulated annealing (SA) and variable neighborhood search (VNS) to minimize the total cost of capacitated MRP problem in multi-stage assembly flow shop with two alternative machines. There are three main steps for the algorithm. Firstly, an initial sequence of orders is constructed by a simple due date-based dispatching rule. Secondly, the sequence of orders is repeatedly improved to reduce the total cost by applying TS, SA and VNS separately. Finally, the total cost is further reduced by optimizing the start time of each operation using the linear programming (LP) model. Parameters of the algorithm are tuned by using real data from automotive companies. The result shows that VNS significantly outperforms TS, SA and the existing algorithm.

Keywords: capacitated MRP, tabu search, simulated annealing, variable neighborhood search, linear programming, assembly flow shop, application in industry

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Authors: Achim Kampker, Christoph Deutskens, Heiner Hans Heimes, Mathias Ordung, Felix Optehostert

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In the past years electric mobility became part of a public discussion. The trend to fully electrified vehicles instead of vehicles fueled with fossil energy has notably gained momentum. Today nearly every big car manufacturer produces and sells fully electrified vehicles, but electrified vehicles are still not as competitive as conventional powered vehicles. As the traction battery states the largest cost driver, lowering its price is a crucial objective. In addition to improvements in product and production processes a non-negligible, but widely underestimated cost driver of production can be found in logistics, since the production technology is not continuous yet and neither are the logistics systems. This paper presents an approach to evaluate cost factors on different designs of load carrier systems. Due to numerous interdependencies, the combination of costs factors for a particular scenario is not transparent. This is effecting actions for cost reduction negatively, but still cost reduction is one of the major goals for simultaneous engineering processes. Therefore a concurrent and phase appropriate cost valuation method is necessary to serve cost transparency. In this paper the four phases of this cost valuation method are defined and explained, which based upon a new approach integrating the logistics development process in to the integrated product and process development.

Keywords: research and development, technology and innovation, lithium-ion-battery production, load carrier development process, cost valuation method

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Authors: Cynthia Oluchi Akagha

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This paper highlights the increase in production cost and the corresponding outcomes in Nigeria using six major manufacturing companies as a case study. During an inflationary period, the cost-of-living increases, which reduces the purchasing power of money. Inflation has become a severe issue in many countries recently. To examine how inflation affects the success of businesses in Nigeria, a quantitative approach and a focus on causality were utilized to examine six (6) functional Nigerian manufacturing enterprises. The correlation between business production cost, cost of items supplied, and gross profit from 2021-2022 was analyzed. The analysis recorded that the cost of production increased in 2022 compared to 2021. The expansion varied between the six companies by 77.1%. Only one company out of six reported a decrease in gross profit in 2022 compared to the previous year. The other five companies' profits increased between 6.5% and 87%. Companies like these have thrived despite the rising cost of living because they have adjusted by increasing their product pricing. Since this change has the most significant influence on consumers, the best long-term reaction for a corporation to inflationary effects is often an improvement in cost efficiency, output, or both.

Keywords: economic meltdown, inflation, organization, performance

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Authors: Charmi Chande, Ravindra Phadke

Abstract:

Microfluidics devices are fabricated by using multiple fabrication methods. Photolithography is one of the common methods wherein SU8 is widely used for making master which in turn is used for making working chip by the process of soft lithography. The high-aspect ratio features of SU-8 makes it suitable to be used as micro moulds for injection moulding, hot embossing, and moulds to form polydimethylsiloxane (PDMS) structures for bioMEMS (Microelectromechanical systems) applications. But due to high cost, difficulty in procuring and need for clean room, restricts the use of this polymer especially in developing countries and small research labs. ‘Bisphenol –A’ based polymers in mixture with curing agent are used in various industries like Paints and coatings, Adhesives, Electrical systems and electronics, Industrial tooling and composites. We present the novel use of ‘Bisphenol – A’ based polymer in fabricating micro channels for Lab On Chip(LOC) devices. The present paper describes the prototype for production of microfluidics chips using range of ‘Bisphenol-A’ based polymers viz. GY 250, ATUL B11, DER 331, DER 330 in mixture with cationic photo initiators. All the steps of chip production were carried out using an inexpensive approach that uses low cost chemicals and equipment. This even excludes the need of clean room. The produced chips using all above mentioned polymers were validated with respect to height and the chip giving least height was selected for further experimentation. The lowest height achieved was 7 micrometers by GY250. The cost of the master fabricated was $ 0.20 and working chip was $. 0.22. The best working chip was used for morphological identification and profiling of microorganisms from environmental samples like soil, marine water and salt water pan sites. The current chip can be adapted for various microbiological screening experiments like biochemical based microbial identification, studying uncultivable microorganisms at single cell/community level.

Keywords: bisphenol–A based epoxy, cationic photoinitiators, microfabrication, photolithography

Procedia PDF Downloads 263

Authors: Tarathorn Podcharathitikull, Jirarat Teeravaraprug

Abstract:

Transportation cost is the highest cost in logistics cost of Thailand, and truck transportation is counted as about 90% of the overall transportation cost. The main problem of truck transportation is backhauling. Backhauling has become an attractive cost-saving approach in logistics. To explore such opportunities, this paper investigated the current backhauling systems in Thailand. It was found that the backhauling problem is attracted to both governmental agencies and private sector. They gave attempts to build backhauling systems. This paper investigated two systems built by governmental agencies and one by private sector. Moreover, based on the interviews with the system representatives and users, pros and cons of the systems were found. The obstacles and challenges were obtained. This paper finally proposed a conceptual model of to-be backhauling system in Thailand.

Keywords: backhauling system, backhauls, interview, Thailand

Procedia PDF Downloads 257

Authors: Hailu Kebede Bekele

Abstract:

Construction delays are suitable where project events occur at a certain time expected due to causes related to the client, consultant, and contractor. Delay is the major cause of the cost overrun that leads to the poor efficiency of the project. The cost difference between completion and the originally estimated is known as cost overrun. The common ways of cost overruns are not simple issues that can be neglected, but more attention should be given to prevent the organization from being devastated to be failed, and financial expenses to be extended. The reasons that may raised in different studies show that the problem may arise in construction projects due to errors in budgeting, lack of favorable weather conditions, inefficient machinery, and the availability of extravagance. The study is focused on the pace of mega projects that can have a significant change in the cost overrun calculation.15 mega projects are identified to study the problem of the cost overrun in the site. The contractor, consultant, and client are the principal stakeholders in the mega projects. 20 people from each sector were selected to participate in the investigation of the current mega construction project. The main objective of the study on the construction cost overrun is to prioritize the major causes of the cost overrun problem. The methodology that was employed in the construction cost overrun is the qualitative methodology that mostly rates the causes of construction project cost overrun. Interviews, open-ended and closed-ended questions group discussions, and rating qualitative methods are the best methodologies to study construction projects overrun. The result shows that design mistakes, lack of labor, payment delay, old equipment and scheduling, weather conditions, lack of skilled labor, payment delays, transportation, inflation, and order variations, market price fluctuation, and people's thoughts and philosophies, the prior cause of the cost overrun that fail the project performance. The institute shall follow the scheduled activities to bring a positive forward in the project life.

Keywords: cost overrun, delay, mega projects, design

Procedia PDF Downloads 34