Search results for: Indian Industry

Authors: Malihe Shahidan, Azin Madhi, Meisam Shahbaz

Abstract:

In recent decades, the role of supply chains in sustaining businesses and establishing their superiority in the market has been under focus. The realization of the goals and strategies of a business enterprise is largely dependent on the cooperation of the chain, including suppliers, distributors, retailers, etc. Supply chains can potentially be disrupted by both internal and external factors. In this paper, resilience strategies have been identified and analyzed in three levels: sourcing, producing, and distributing by considering economic depression as a current risk factor for the machine-made rugs industry. In this study, semi-structured interviews for data gathering and thematic analysis for data analysis are applied. Supply chain data has been gathered from seven rug factories before and after the economic depression through semi-structured interviews. The identified strategies were derived from literature review and validated by collecting data from a group of eighteen industry and university experts, and the results were analyzed using statistical tests. Finally, the outsourcing of new products and products in the new market, the development and completion of the product portfolio, the flexibility in the composition and volume of products, the expansion of the market to price-sensitive, direct sales, and disintermediation have been determined as strategies affecting supply chain resilience of machine-made rugs' industry during an economic depression.

Keywords: distribution, economic depression, machine-made rug, outsourcing, production, sourcing, supply chain, supply chain resilience

Procedia PDF Downloads 144

Authors: Chung-Hung Tsai, Ya-Ping Li

Abstract:

Tourism industry is highly depended on the natural environment and climate. Compared to other industries, it is more susceptible to environment and climate. Taiwan belongs to a sea island country and located in the subtropical monsoon zone. The events of climate variability, frequency of typhoons and rainfalls raged are caused regularly serious disaster. In traditional disaster assessment, it usually focuses on the disaster damage and risk assessment, which is short of the features from different industries to understand the impact of the restoring force in post-disaster resilience and the main factors that constitute resilience. The object of this study is based on disaster recovery experience of tourism area and to understand the main factors affecting the tourist area of disaster resilience. The combinations of literature review and interviews with experts are prepared an early indicator system of the disaster resilience. Then, it is screened through a Fuzzy Delphi Method and Analytic Network Process for weight analysis. Finally, this study will establish the tourism disaster resilience evaluation index system considering the Taiwan's tourism industry characteristics. We hope that be able to enhance disaster resilience after tourist areas and increases the sustainability of industrial development. It is expected to provide government departments the tourism industry as the future owner of the assets in extreme climates responses.

Keywords: resilience, Fuzzy Delphi Method, Analytic Network Process, industrial development

Procedia PDF Downloads 387

Authors: V. D. Povolockiy, V. E. Roshchin, Y. Kapelyushin

Abstract:

Smelting of copper matte is followed by production of a large amount of slag. This slag mostly contains silicates and can be utilized in a construction industry. In addition to silicates it also contains Fe; if the Fe content is high, the density of the silicate phases increases and such a slag cannot be used as an additive for the concrete. Furthermore, slags obtained during copper matte production contain copper, sulphur, zinc and some other elements. Fe is the element with the highest price in these slags. An extraction of Fe is possible even using the conventional methods, e.g., the addition of slag to the charge materials during production of sinter for the blast furnace smelting. However, in this case, the blast furnace hot metal would accumulate sulphur and copper which is very harmful impurity for the steelmaking. An accumulation of copper by the blast furnace hot metal is unacceptable, as copper cannot be removed during further steelmaking operations having a critical effect on the properties of steel. In present work, the technological scheme for non-waste utilization of the copper smelting slags has been suggested and experimentally confirmed. This scheme includes a solid state reduction of Fe and smelting for the separation of cast iron and slag. During solid state reduction, the zinc vapor was trapped. After the reduction and smelting operations, the cast iron containing copper was used for the production of metal balls with increased mechanical properties allowing their utilization for milling of ore minerals. Such a cast iron could also be applied in the production of special types of steel with copper. The silicate slag freed from Fe might be used as a propping agent in the oil industry, or granulated for application as an additive for concrete in a construction industry. Thereby, the suggested products for a Mini Mill plant with non-waste utilization of the copper smelting slags are cast iron grinding balls for the ore minerals, special types of steel with copper, silicate slag utilized as an additive for the concrete and propping agents for the oil industry.

Keywords: utilization of copper slag, cast iron, grinding balls, propping agents

Procedia PDF Downloads 139

Authors: Sri Wartini

Abstract:

Based on the sovereignty over natural resources principle, the Indonesian government has an authority to exploit the natural resources within a national jurisdiction of Indonesia. The forest is one of the natural resources which is very valuable for Indonesia. It becomes the source of raw material for many industrial activities, such as pharmaceutical industry, pulp industry, and household furniture industry. Hence, it contributes to the economic development of Indonesia. However, the exploitation of the forest may cause negative impacts, such as environmental pollution and environmental degradation. The implementation of the sovereignty over natural resources principle in Indonesia may jeopardize the forest and affect the sustainability of the forest if there is no appropriate policy of the government to exploit the forest in a sustainable manner. The exploitation of the forest in Indonesia, in some extent, has caused serious impact to environment and biodiversity. Hence, in order to sustain and to maintain the forest as the valuable resources to the future generation, the government of Indonesia has already adopted many programmes and action plans. The aim of the research is to undertake a critical examination of the issues relating to the the implementation of sovereignty over natural resources to the exploitation of the forest in Indonesia. It is a normative research and the methodology employed in this research is library research. While the approaches employed in the research are conceptual approach., statutory approach, and comparative approach. The research finds that the implementation of sovereignty over natural resources principle in the exploitation of the forest in Indonesia is limited by other principles of international environmental law, such as sustainable development principle, intergenerational principle and common concern principle which have been adopted in the government policy and various regulations regarding the exploitation of the forest in Indonesia.

Keywords: Environmental damage, negative impacts, pollution, the sovereignty over natural resources

Procedia PDF Downloads 369

Authors: Kaveri Dutta, Ratna Sharma

Abstract:

Indian traditional textile is a synthesis of various cultures. Art and crafts of a country showcases the rich cultural and artistic history of that nation. Prehistorically Indian handicrafts were basically made for day to day use; the yearning for aesthetic application soon saw the development of flooding designs and motifs. Similarly, Bagh print a traditional hand block Print with natural colours an Indian handicraft practiced in Bagh, Madhya Pradesh(India). Bagh print has its roots in Sindh, which is now a part of Pakistan. The present form of Bagh printing actually started in 1962 when the craftsmen migrated from Manavar to the neighboring town of Bagh situated in Madhya Pradesh and hence Bagh has always been associated with this printing style. Bagh printing basically involved blocks that are carved onto motifs that represent flora such as Jasmine, Mushroom leheriya and so on. There are some prints that were inspired by the jaali work that embellished the Taj Mahal and various other forts. Inspiration is also drawn from the landscapes and geometrical figures. The motifs evoke various moods in the serenity of the prints and that is the catchy element of Bagh prints. The development in this traditional textile is as essential as in another field. Nowadays fashion trends are fragile and innovative changes over existing fashion field in the short span is the demand of times. We must make efforts to preserve this cultural heritage of arts and crafts and this is done either by documenting the various ancient traditions or by making a blend of it. Since this craft is well known over the world, but the need is to document the original motif, fabric, technology and colors used in contemporary fashion. Hence keeping above points in mind this study on bagh print textiles of Madhya Pradesh work has been formulated. The information incorporated in the paper was based on secondary data taken from relevant books, journals, museum visit and articles. Besides for the demographic details and working profile of the artisans dealt with printing, an interview schedule was carried out in three regions of Madhya Pradesh. This work of art was expressed in Cotton fabric. For this study selected traditional motifs for Bang printing was used. Some of the popular traditional Bagh motifs are Jasmine, Mushroom leheriya, geometrical figures and jaali work. The Bagh printed cotton fabrics were developed into a range of men’s ethic wear in combination with embroideries from Rajasthan. Products developed were bandhgala jackets, kurtas, serwani and dupattas. From the present study, it can be observed that the embellished traditional Bang printed range of ethnic men’s wear resulted in the fresh and colourful pattern. The embroidered Bagh printed cotton fabric also created a huge change in a positive way among artisans of the three regions.

Keywords: art and craft of Madhya Pradesh, evolution of printing in India, history of Bagh printing, sources of inspiration

Procedia PDF Downloads 343

Authors: Young Yoon, Jinsoo Kim

Abstract:

The adoption of information and communication technologies (ICT) in all industry is growing under industry 4.0. Many oil companies also are increasingly adopting ICT to improve the efficiency of existing operations, take more accurate and quicker decision making and reduce entire cost by optimization. It is true that ICT is playing an important role in the process of unconventional oil and gas development and companies must take advantage of ICT to gain competitive advantage. In this study, real option approach has been applied to Unconventional gas R&D project to evaluate ICT of them. Many unconventional gas reserves such as shale gas and coal-bed methane(CBM) has developed due to technological improvement and high energy price. There are many uncertainties in unconventional development on the three stage(Exploration, Development, Production). The traditional quantitative benefits-cost method, such as net present value(NPV) is not sufficient for capturing ICT value. We attempted to evaluate the ICT valuation by applying the compound option model; the model is applied to real CBM project case, showing how it consider uncertainties. Variables are treated as uncertain and a Monte Carlo simulation is performed to consider variables effect. Acknowledgement—This work was supported by the Energy Efficiency & Resources Core Technology Program of the Korea Institute of Energy Technology Evaluation and Planning (KETEP) granted financial resource from the Ministry of Trade, Industry & Energy, Republic of Korea (No. 20152510101880) and by the National Research Foundation of Korea Grant funded by the Korean Government (NRF-205S1A3A2046684).

Keywords: information and communication technologies, R&D, real option, unconventional gas

Procedia PDF Downloads 220

Authors: Sela Adjei

Abstract:

This paper aims to rationalize the need for media policy implementation and copyright enforcement to address various challenges faced within Ghana’s film industry. After Ghana transitioned to democratic rule in 1992, critics and media professionals advocated a national media policy. This advocacy subsequently resulted in agitation for media deregulation and loosening of grip on state-owned media organizations. The reinstatement of constitutional rule in 1992 paved the way for the state to lax its monopoly of the media within the democratic context of a free market economy. The National Media Commission proposed a media policy and broadcast bill which was presented to parliament but has still not been passed into law. This legislative lapse partly contributed to the influx of unregulated foreign content. Accessible foreign media content subsequently promoted a system of unfair competition that radically undermined locally produced content, putting a generation of thriving film producers out of work. Drawing on reflections from a series of structured interviews, focus group discussions and creative workshops, the findings of this study maintain that the various challenges confronting Ghanaian filmmakers is centred around inadequate funding opportunities, copyright violation and policy implementation issues. Using the film industry structure and value chain analysis, the various challenges faced by the selected film producers were discussed and critically analyzed. A significant aspect of this study is the solution-driven approach adopted in outlining the practical recommendations that will boost the aesthetic, cultural and economic value of Ghanaian film productions. Based on the discussions and conclusions drawn with the various stakeholders within Ghana’s creative industries, the paper makes a strong case for firm state regulation, copyright enforcement and policy implementation to grow Ghana’s film industry.

Keywords: film, value, copyright, media, policy, culture, regulation, economy

Procedia PDF Downloads 53

Authors: Saad Nawaz, Yu Gang, Miao Haibin

Abstract:

Titanium alloys are attractive materials for aerospace industry due to their exceptional strength to weight ratio that is maintained at elevated temperatures and their good corrosion resistance. Major applications of titanium alloys were military aerospace industry, but since last decade the trend has now shifted towards commercial industry. On the other hand, titanium alloys are notorious for being poor thermal conductor that leads to them being difficult materials for machining. In this experimental study, Stellram Indexable milling cutter XDLT09-D41 is used for rough down milling of Ti6Al4V for small depth of cut under different combinations of parameters and application of high-pressure coolant. The machining performance was evaluated in terms of tool wear, tool life, and thermal crack. The tool wear was mostly observed at the tool tip and at bottom part of tool thermal deformations were observed which propagated with respect to time. Flank wear due to scratching of the cutting chips and diffusion wear because of high thermal stresses were observed specially at the bottom of the cutting tool. It was found that maximum tool life was obtained at the speed of 40m/min, feed rate of 358mm/min and depth of cut of 0.8mm. In the end, it was concluded that machining of Ti6Al4V is a thermally dominant process which leads to high thermal stresses in machining zone that results in increasing tool wear rate and deformation propagation.

Keywords: tool wear, cutting speed, flank wear , tool life

Procedia PDF Downloads 305

Authors: Martina Kovalcikova, Adriana Estokova

Abstract:

Today, concrete belongs to the most frequently used materials in the civil engineering industry for many years. Consuming energy in cement industry is very high and CO₂ emissions generated during the production of Portland cement has serious environmental threatens. Therefore, utilization of pozzolanic material as a supplementary cementitious material has a direct relationship with the sustainable development. The paper presents the results of the comparative study of the resistance of the Slovak origin zeolite based cement composites with addition of silica fume exposed to the sulfate environment. The various aggressive media were used for the experiment: sulfuric acid with pH 4, distilled water and magnesium sulfate solution with a concentration of 3 g/L of SO₄²−. The laboratory experiment proceeded during 180 days under model conditions. The changes in the elemental concentrations of calcium and silicon in liquid leachates were observed.

Keywords: concrete, leaching, silica fume, sulfuric acid, zeolite

Procedia PDF Downloads 253

Authors: N. Bouzouita, A. Snoussi , H. Ben Haj Koubaier, I. Essaidi, M. M. Chaabouni, S. Zgoulli, P. Thonart

Abstract:

Color is one of the most important quality attributes for the food industry. Grape marc, a complex lignocellulosic material is one of the most abundant and worth less byproduct, generated after the pressing process. The development of the process of purification by micro filtration, ultra filtration, nano filtration and drying by atomization of the anthocyanins of Tunisian origin is the aim of this work. Locust bean gum is the ground endosperm of the seeds of carob fruit; owing to its remarkable water-binding properties, it is widely used to improve the texture of food and largely employed in food industry. The purification of LGB causes drastically reduced ash and proteins contents but important increase for galactomannan.

Keywords: Carob, food additives, grape pomace, locust bean gum, natural colorant, nano filtration, thickener, ultra filtration

Procedia PDF Downloads 318

Authors: G. Erkomaishvili, E. Kharaishvili, M. Chavleishvili, N. Sagareishvili

Abstract:

This paper discusses the current condition of tourism and its economic policy in Georgia. It analyzes and studies wellness tourism, as one of the directions of tourism; the newest niche in the wellness industry – triggering wellness resorts with medical ideology. The paper discusses the development tendencies of medical wellness resorts in Georgia and its main economic preferences. The main finding of the research is that Georgia is a unique place in the world according to the variety of medical recourses. This makes the opportunity to create and successfully operate medical wellness resorts, as well as develop it as a brand for Georgia in the world. The research represents the development strategies of tourism and its medical wellness resorts in Georgia, and offers recommendations based on the relevant conclusions.

Keywords: tourism, economic policy of tourism, wellness industry, medical wellness resorts

Procedia PDF Downloads 324

Authors: Aishi Kundu, Elhan Raza

Abstract:

"Necessity is the mother of invention" - Rapid increase in the global human population has directed the agricultural domain toward machine learning. The basic need of human beings is considered to be food which can be satisfied through farming. Farming is one of the major revenue generators for the Indian economy. Agriculture is not only considered a source of employment but also fulfils humans’ basic needs. So, agriculture is considered to be the source of employment and a pillar of the economy in developing countries like India. This paper provides a brief review of the progress made in implementing Machine Learning in the agricultural sector. Accurate predictions are necessary at the right time to boost production and to aid the timely and systematic distribution of agricultural commodities to make their availability in the market faster and more effective. This paper includes a thorough analysis of various machine learning algorithms applied in different aspects of agriculture (crop management, soil management, water management, yield tracking, livestock management, etc.).Due to climate changes, crop production is affected. Machine learning can analyse the changing patterns and come up with a suitable approach to minimize loss and maximize yield. Machine Learning algorithms/ models (regression, support vector machines, bayesian models, artificial neural networks, decision trees, etc.) are used in smart agriculture to analyze and predict specific outcomes which can be vital in increasing the productivity of the Agricultural Food Industry. It is to demonstrate vividly agricultural works under machine learning to sensor data. Machine Learning is the ongoing technology benefitting farmers to improve gains in agriculture and minimize losses. This paper discusses how the irrigation and farming management systems evolve in real-time efficiently. Artificial Intelligence (AI) enabled programs to emerge with rich apprehension for the support of farmers with an immense examination of data.

Keywords: machine Learning, artificial intelligence, crop management, precision farming, smart farming, pre-harvesting, harvesting, post-harvesting

Procedia PDF Downloads 90

Authors: Mahima Shrivastava, Soumya Kar, B. Swetha Malika, Lalu Saheb, M. Muthu Kumar, P. V. Ponambala Moorthi

Abstract:

Natural hazards and manmade destruction causes both economic and societal losses. Generalized pre-mitigation strategies introduced and adopted for prevention of disaster all over the world are capable of augmenting the resiliency and optimizing the life-cycle cost of facilities. In countries like India where varied topographical feature exists requires location specific mitigation measures and strategies to be followed for better enhancement by event-driven and code-driven approaches. Present state of vindication measures followed and adopted, lags dominance in accomplishing the required development. In addition, serious concern and debate over climate change plays a vital role in enhancing the need and requirement for the development of time bound adaptive mitigation measures. For the development of long-term sustainable policies incorporation of future climatic variation is inevitable. This will further assist in assessing the impact brought about by the climate change on life-cycle cost of facilities. This paper develops more definite region specific and time bound pre-mitigation measures, by reviewing the present state of mitigation measures in India and all over the world for improving life-cycle cost of facilities. For the development of region specific adoptive measures, Indian regions were divided based on multiple-calamity prone regions and geo-referencing tools were used to incorporate the effect of climate changes on life-cycle cost assessment. This study puts forward significant effort in establishing sustainable policies and helps decision makers in planning for pre-mitigation measures for different regions. It will further contribute towards evaluating the life cycle cost of facilities by adopting the developed measures.

Keywords: climate change, geo-referencing tools, life-cycle cost, multiple-calamity prone regions, pre-mitigation strategies, sustainable policies

Procedia PDF Downloads 363

Authors: Shelly-Ann Gajadhar

Abstract:

Over the last twenty years, the traditional economic motivations of foreign direct investment have been amalgamated with geopolitical motivations. This is evidenced by the extensive ratification of bilateral investment treaties (BIT) globally and the emergence of state-owned multinational companies (SOMNCs) that directly compete with local domestic enterprises (LDE). This paper investigates the impact that Chinese SOMNCs have on LDEs within Trinidad and Tobago’s construction sector and, determines whether knowledge transfer occurs. The paper employed semi-structured interviews of industry experts and concluded that LDEs predominantly experience adverse spillovers, inclusive of a long-term competition effect, with no technology transfer occurring.

Keywords: foreign direct investment, bilateral investment treaties, knowledge transfer, international business, Caribbean

Procedia PDF Downloads 239

Authors: Ahmet Akdemir, Güzide Karakuş, Leyla Polat

Abstract:

Aviation that has been arisen in accordance with flying request that is existing inside of people, has not only made life easier by making a great contribution to humanity; it has also accelerated globalization by reducing distances between countries. It is seen that the growth rate of aviation industry has reached the undreamed level when it is looked back on. Today, the last point in aviation is unmanned aerial vehicles that are self-ventilating and move in desired coordinates without any onboard pilot. For those vehicles, there are two different control systems are developed. In the first type of control, an unmanned aerial vehicle (UAV) moves according to instructions of a remote control. UAV that moves with a remote control is named as drone; it can be used personally. In the second one, there is a flight plan that is programmed and placed inside of UAV before flight. Recently, drones have started to be used in unimagined areas and utilize specific, important benefits for any industry. Within this framework, this study answers the question that is drone usage would be beneficial for businesses or not. To answer this question, applied basic methodologies are determining businesses using drone in the world, their purposes to use drone, and then, comparing their economy as before drone and after drone. In the end of this study, it is seen that many companies in different business areas use drone in logistics support, and it makes their work easier than before. This paper has contributed to academic literature about this subject, and it has introduced the benefits of drone usage for businesses. In addition, it has encouraged businesses that they keep pace with this technological age by following the developments about drones.

Keywords: aviation, drone, drone in business, unmanned aerial vehicle

Procedia PDF Downloads 239

Authors: Camille Paldi

Abstract:

The tense dichotomy between Shari’ah compliance and the economic goals of an Islamic Bank produces a proliferation of reverse engineered products, which are barely in compliance with Islamic law. The result is basically a hybrid conventional banking system with conventional products in Islamic disguise using Arabic and Islamic terminology. Many Islamic financial professionals and academics advocate for the use of conventional products and devices despite their non-Shari’ah compliance based on commercial necessity and the need to compete. However, this dangerous trend will lead to the demise of the Islamic finance industry. Rather than thoughtlessly following conventional products and practice, Islamic finance professionals should delve into the Shari’ah to find the answers to the current Islamic banking conundrum and lead the industry on the right path of developing Shari’ah based products and using Shari’ah devices to hedge risk.

Keywords: Islamic banking, Shari'ah, finance, investment

Procedia PDF Downloads 334

Authors: Fabricia G. F. S. Rossato, Ieda G. Hidalgo, Andres Susseta, Felipe Casale, Leticia H. Nakamiti

Abstract:

This research was conducted to show the useful source of biomass energy provided from forest waste and the black liquor from the pulping process. This energy source could be able to assist and improve its area environment in a sustainable way. The research will demonstrate the challenges from producing the biomass energy and the implantation of the pulp industry in the city of Três Lagoas, MS. – Brazil. Planted forest’s potential, energy production in the pulp industries and its consequence of impacts on the local region environmental was also studied and examined. The present study is classified as descriptive purposes as it exposes the characteristics of a given population and the means such as bibliographical and documentary. All the data and information collected and demonstrate in this study was carefully analyzed and provided from reliable sources such as official government agencies.

Keywords: Brazil, pulp industry, renewable energy, Três Lagoas

Procedia PDF Downloads 311

Authors: Maya Irjayanti

Abstract:

Local creativity utilization has been a strategic investment to be expanded as a creative industry due to its significant contribution to the national gross domestic product. Many developed and developing countries look toward creative industries as an agenda for the economic growth. This study aims to identify the role of local potential for creative industries from various empirical studies. The method performed in this study will involve a peer-reviewed journal articles and conference papers review addressing local potential and creative industries. The literature review analysis will include several steps: material collection, descriptive analysis, category selection, and material evaluation. Finally, the outcome expected provides a creative industries clustering based on the local potential of various nations. In addition, the finding of this study will be used as future research reference to explore a particular area with well-known aspects of local potential for creative industry products.

Keywords: business, creativity, local potential, local wisdom

Procedia PDF Downloads 363

Authors: Nuran Bahar, Mehmet A. Akcayol

Abstract:

In the aviation industry, many faults may occur frequently during the maintenance processes and assembly operations of complex structured aircrafts because of their high dependencies of components. These faults affect the quality of aircraft parts or developed modules adversely. Technical employee requires long time and high labor force while checking the correctness of each component. In addition, the person must be trained regularly because of the ever-growing and changing technology. Generally, the cost of this training is very high. Augmented Reality (AR) technology reduces the cost of training radically and improves the effectiveness of the training. In this study, the usage of AR technology in the aviation industry has been investigated and the effectiveness of AR with heads-up display glasses has been examined. An application has been developed for comparison of production process with AR and manual one.

Keywords: aerospace, assembly quality, augmented reality, heads-up display

Procedia PDF Downloads 333

Authors: Shamsu Abdullahi, Nazir Yusuf, Hazrina Sofian, Abubakar Zakari, Amina Nura, Salisu Suleiman

Abstract:

Requirements negotiation process models help in resolving conflicting requirements of the heterogeneous stakeholders in the software development industry. This is to achieve a shared vision of software projects to be developed by the industry. Negotiating stakeholder agreements is a serious and difficult task in the software development process. There are many requirements negotiation process models that effectively negotiate stakeholder agreements that have been proposed by the research community. Other issues in the requirements negotiation research domain include stakeholder communication, decision-making, lack of negotiation interoperability, and managing requirement changes and analysis. This study highlights the current state of the art in the existing software requirements negotiation process models. The study also describes the issues and limitations in the software requirements negotiations process models.

Keywords: requirements, negotiation, stakeholders, agreements

Procedia PDF Downloads 178

Authors: James Alberto Ortega Morales, Nelson Andrés Martínez Marín

Abstract:

The bulding industry is one of the most important sectors all around the world in terms of contribution to index like GDP and labor. On the other hand, it is a major contributor to Greenhouse Gases (GHG) and waste generation contributing to global warming. In this sense, it is necessary to establish sustainable practices both from the strategic point of view to the operations point of view as well in all business and industries. Business models don’t scape to this reality attending it´s mediator role between strategy and operations. Business models can turn from the traditional practices searching economic benefits to sustainable bussines models that generate both economic value and value for society and the environment. Recent advances in the analysis of sustainable business models find different classifications that allow finding potential triple bottom line (economic, social and environmental) solutions applicable in every business sector. Into the metioned Advances have been identified, 11 groups and 45 patterns of sustainable business models have been identified; such patterns can be found either in the business models as a whole or found concurrently in their components. This article presents the analysis of a case study, seeking to identify the components and elements that are part of it, using the ECO CANVAS conceptual model. The case study allows showing the concurrent existence of different patterns of business models for sustainability empirically, serving as an example and inspiration for other Latin American companies interested in integrating sustainability into their new and existing business models.

Keywords: sustainable business models, business sustainability, business model patterns, case study, construction industry

Procedia PDF Downloads 102

Authors: Bartholomew Badar

Abstract:

An NFT is a digital certificate with rights to own an asset, including various valuable digital goods such as art pieces, music items, collectibles, etc. The market for NFTs started developing in 2017 and has lately seen increased growth as crypto-currencies and the blockchain market continue to gain popularity. This study aims to understand potential uses for NFTs concerning the music industry and record labels. Independent artists struggle to distribute and sell their music without the help of a record label. The NFT marketplace could be a great tool to eliminate this problem. The research objective is to identify possibilities for independent artists to own their music rights and share value with an audience. We see a trend of new-school music artists trying to enter the music NFT market by creating visualizers, beats, cover art, etc. To analyze various existing music NFT assets and determine whether or not independent artists could monetize their music without a record label is the main focus of this scholarly paper.

Keywords: blockchain, crypto-currency, music, artist, NFT

Procedia PDF Downloads 166

Authors: Tarun Kumar Dalakoti, Debajyoti Majumder, Aditya Prasad Das, Samir Chandra Saxena

Abstract:

India’s ambitious target to achieve a 50 percent share of energy from non-fossil fuels and the 500-gigawatt (GW) renewable energy capacity before the deadline of 2030, coupled with the global pursuit of sustainable development, will compel the nation to embark on a rapid clean energy transition. As a result, electricity market reforms will emerge as critical policy instruments to facilitate this transition and achieve ambitious environmental targets. This paper will present a comprehensive analysis of the various electricity market reforms to be introduced in the Indian Electricity sector to facilitate the integration of clean energy sources and will assess their impact on the overall energy landscape. The first section of this paper will delve into the policy mechanisms to be introduced by the Government of India and the Central Electricity Regulatory Commission to promote clean energy deployment. These mechanisms include extensive provisions for the integration of renewables in the Indian Electricity Grid Code, 2023. The section will also cover the projection of RE Generation as highlighted in the National Electricity Plan, 2023. It will discuss the introduction of Green Energy Market segments, the waiver of Inter-State Transmission System (ISTS) charges for inter-state sale of solar and wind power, the notification of Promoting Renewable Energy through Green Energy Open Access Rules, and the bundling of conventional generating stations with renewable energy sources. The second section will evaluate the tangible impact of these electricity market reforms. By drawing on empirical studies and real-world case examples, the paper will assess the penetration rate of renewable energy sources in India’s electricity markets, the decline of conventional fuel-based generation, and the consequent reduction in carbon emissions. Furthermore, it will explore the influence of these reforms on electricity prices, the impact on various market segments due to the introduction of green contracts, and grid stability. The paper will also discuss the operational challenges to be faced due to the surge of RE Generation sources as a result of the implementation of the above-mentioned electricity market reforms, including grid integration issues, intermittency concerns with renewable energy sources, and the need for increasing grid resilience for future high RE in generation mix scenarios. In conclusion, this paper will emphasize that electricity market reforms will be pivotal in accelerating the global transition towards clean energy systems. It will underscore the importance of a holistic approach that combines effective policy design, robust regulatory frameworks, and active participation from market actors. Through a comprehensive examination of the impact of these reforms, the paper will shed light on the significance of India’s sustained commitment to a cleaner, more sustainable energy future.

Keywords: renewables, Indian electricity grid code, national electricity plan, green energy market

Procedia PDF Downloads 27

Authors: Nisa Nur Duman, Sümeyya Kiliç

Abstract:

In global competition conditions, survival of the plants by obtaining competitive advantage relies on the effective usage of existing sources. By this way, the plants can minimize their costs without losing their quality. They also take advantage took advantage on their competitors and enlarge customer portfolio by increasing profit margins. Changing structure of market and customer demands also change the structure of the competition between companies. Furthermore, competition is not only between the companies. By this manner, supply chain and supply chain management get importance by considering company performances. Companies that want to survive, search the ways of decreasing costs and the ways of meeting customer expectations. One of the important tools for reaching these goals is inventory managemet. The best inventory management system is meeting the demands by considering plant goals.

Keywords: Supply chain, inventory management, apparel sector, garment industry

Procedia PDF Downloads 359

Authors: Pranab Kumar Goswami

Abstract:

According to WHO, over 1000 million people worldwide are employed in small-scale industries. The ‘garment’ industry’ is one such industry in developing countries. These garment SMEs are mostly run by private establishments in the unorganized sector to avoid legal obligations of OSH provisions. The OSH standards are very poor and even basic health and safety provisions are not provided in such units. The study has been conducted in India among workers employed in the ‘garment’ industry with the objectives to analyze the types and extent of occupational health hazards of the garment workers and to assess the relationship of sociodemographic and occupational factors with various health hazards. The survey method, the tabular method followed by applying simple statistical technique, has been taken into account to analyze the data collected from three SME garment industries in Delhi (India-Asia). The study was conducted in Delhi from August-2019 to October-2020. A random sampling of 70 workers from three factories has been chosen for this study. The study shows that most of the workers were males (82%) and were in the 18-50 age group (78%), with none below 18 years of age. It was found that 26% of the workers were illiterate and most of them belonged to poor socioeconomic status. The study revealed that the nature of the hazards in garment industries in India is mostly physical and mechanical. We found that musculoskeletal problems (54%) were the commonest health problem. The body areas commonly affected were neck, low back, hand, wrist, finger, and shoulder. If garment workers’ health is affected by occupational hazards, it will impact on national health and economic growth of developing countries. Health is a joint responsibility of both government and employing authority.

Keywords: garment, MSD, health hazard, social factor

Procedia PDF Downloads 179

Authors: Vincenzo Russo, Rosella Giacometti

Abstract:

The paper aims to assess the insurance industry's resilience under Solvency II against adverse scenarios. Starting from the economic balance sheet available under Solvency II for insurance and reinsurance undertakings, we assume that assets and liabilities follow a bivariate geometric Brownian motion (GBM). Then, using the results available under Margrabe's formula, we establish an analytical solution to calibrate the volatility of the asset-liability ratio. In such a way, we can estimate the probability of default and the probability of breaching the undertaking's Solvency Capital Requirement (SCR). Furthermore, since estimating the volatility of the Solvency Ratio became crucial for insurers in light of the financial crises featured in the last decades, we introduce a novel measure that we call Resiliency Ratio. The Resiliency Ratio can be used, in addition to the Solvency Ratio, to evaluate the insurance industry's resilience in case of adverse scenarios. Finally, we introduce a simplified stress test tool to evaluate the economic balance sheet under stressed conditions. The model we propose is featured by analytical tractability and fast calibration procedure where only the disclosed data available under the Solvency II public reporting are needed for the calibration. Using the data published regularly by the European Insurance and Occupational Pensions Authority (EIOPA) in an aggregated form by country, an empirical analysis has been performed to calibrate the model and provide the related results at the country level.

Keywords: Solvency II, solvency ratio, volatility of the asset-liability ratio, probability of default, probability to breach the SCR, resilience ratio, stress test

Procedia PDF Downloads 68

Authors: R. Suresh, Pavan Kumar Nimmagadda, Ming Zo Tan, Shane Hart, Sharp Ugwuocha

Abstract:

Polycrystalline diamond compact (PDC) drill bits are extensively used in the oil and gas industry as well as the mining industry. Industry engineers continually improve upon PDC drill bit designs and hydraulic conditions. Optimized injection nozzles play a key role in improving the drilling performance and efficiency of these ever changing PDC drill bits. In the first part of this study, computational fluid dynamics (CFD) modelling is performed to investigate the hydrodynamic characteristics of drilling fluid flow around the PDC drill bit. An Open-source CFD software – OpenFOAM simulates the flow around the drill bit, based on the field input data. A specifically developed console application integrates the entire CFD process including, domain extraction, meshing, and solving governing equations and post-processing. The results from the OpenFOAM solver are then compared with that of the ANSYS Fluent software. The data from both software programs agree. The second part of the paper describes the parametric study of the PDC drill bit nozzle to determine the effect of parameters such as number of nozzles, nozzle velocity, nozzle radial position and orientations on the flow field characteristics and bit washing patterns. After analyzing a series of nozzle configurations, the best configuration is identified and recommendations are made for modifying the PDC bit design.

Keywords: ANSYS Fluent, computational fluid dynamics, nozzle configuration, OpenFOAM, PDC dill bit

Procedia PDF Downloads 405

Authors: Babatunde Dosumu, Obuks Ejohwomu, Akilu Yunusa-Kaltungo

Abstract:

Cost estimation in construction is often difficult, particularly when dealing with risks and uncertainties, which are inevitable and peculiar to developing countries like Nigeria. Direct consequences of these are major deviations in cost, duration, and quality. The fundamental aim of this study is to develop a framework for assessing the impacts of risk on cost estimation, which in turn causes variabilities between contract sum and final account. This is very important, as initial estimates given to clients should reflect the certain magnitude of consistency and accuracy, which the client builds other planning-related activities upon, and also enhance the capabilities of construction industry professionals by enabling better prediction of the final account from the contract sum. In achieving this, a systematic literature review was conducted with cost variability and construction projects as search string within three databases: Scopus, Web of science, and Ebsco (Business source premium), which are further analyzed and gap(s) in knowledge or research discovered. From the extensive review, it was found that factors causing deviation between final accounts and contract sum ranged between 1 and 45. Besides, it was discovered that a cost estimation framework similar to Building Cost Information Services (BCIS) is unavailable in Nigeria, which is a major reason why initial estimates are very often inconsistent, leading to project delay, abandonment, or determination at the expense of the huge sum of money invested. It was concluded that the development of a cost estimation framework that is adjudged an important tool in risk shedding rather than risk-sharing in project risk management would be a panacea to cost estimation problems, leading to cost variability in the Nigerian construction industry by the time this ongoing Ph.D. research is completed. It was recommended that practitioners in the construction industry should always take into account risk in order to facilitate the rapid development of the construction industry in Nigeria, which should give stakeholders a more in-depth understanding of the estimation effectiveness and efficiency to be adopted by stakeholders in both the private and public sectors.

Keywords: cost variability, construction projects, future studies, Nigeria

Procedia PDF Downloads 182

Authors: Karrar Raoof Kareem Kamoona, Enas Fathi Taher AlHares, Zeynep Isik

Abstract:

The various disciplines in the construction industry and the co-existence of the people in the various disciplines are what builds well-developed, closely-knit interpersonal skills at various hierarchical levels thus leading to a varied way of leadership. The varied decision making aspects during the lifecycle of a project include: autocratic, participatory and last but not least, free-rein. We can classify some of the decision makers in the construction industry in a hierarchical manner as follows: project executive, project manager, superintendent, office engineer and finally the field engineer. This survey looked at how decisions are made during the construction period by the key stakeholders in the project. From the paper it is evident that the three decision making aspects can be used at different times or at times together in order to bring out the best leadership decision. A blend of different leadership styles should be used to enhance the success rate during the project lifecycle.

Keywords: leadership style, construction, decision-making, built environment

Procedia PDF Downloads 348

Authors: Han-Mei Chen, Rongxin Zhou, Taige Wang

Abstract:

Glass is widely used in everyday life, from glass bottles for beverages to architectural glass for various forms of glazing. Although the mainstream of used glass is recycled in the UK, the single-use and then recycling procedure results in a lot of waste as it incorporates intact glass with smashing, re-melting, and remanufacturing. These processes bring massive energy consumption with a huge loss of high embodied energy and economic value, compared to re-use, which’s towards a ‘zero carbon’ target. As a tourism city, Liverpool has more glass bottle consumption than most less leisure-focused cities. It’s therefore vital for Liverpool to find an upgrading approach for the single-use glass bottles with low carbon output. This project aims to assess the feasibility of industrial symbiosis and upgrading the framework of glass and to investigate the ways of achieving them. It is significant to Liverpool’s future industrial strategy since it provides an opportunity to target economic recovery for post-COVID by industry symbiosis and up-grading waste management in Liverpool to respond to the climate emergency. In addition, it will influence the local government policy for glass bottle reuse and recycling in North West England and as a good practice to be further recommended to other areas of the UK. First, a critical literature review of glass waste strategies has been conducted in the UK and worldwide industrial symbiosis practices. Second, mapping, data collection, and analysis have shown the current life cycle chain and the strong links of glass reuse and upgrading potentials via site visits to 16 local waste recycling centres. The results of this research have demonstrated the understanding of the influence of key factors on the development of a circular industrial symbiosis business model for beverage glass bottles. The current waste management procedures of the glass bottle industry, its business model, supply chain, and material flow have been reviewed. The various potential opportunities for glass bottle up-valuing have been investigated towards an industrial symbiosis in Liverpool. Finally, an up-valuing business model has been developed for an industrial symbiosis framework of glass in Liverpool. For glass bottles, there are two possibilities 1) focus on upgrading processes towards re-use rather than single-use and recycling and 2) focus on ‘smart’ re-use and recycling, leading to optimised values in other sectors to create a wider industry symbiosis for a multi-level and circular economy.

Keywords: glass bottles, industry symbiosis, smart re-use, waste upgrading

Procedia PDF Downloads 91