Search results for: Croatian companies

Authors: G. Malumbela, E. U. Masuku

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The economy of Botswana has increased extensively since its independence. In contrast to this increase, the construction industry which is one of the key indicators of a developing nation continues to be highly dependent on imported building material products from the neighbouring countries of South Africa, Namibia, Zimbabwe, and Zambia. Only two companies in the country currently blend cement. Even then, the overwhelming majority of raw materials used in the blends are imported. Furthermore, there are no glass manufacturers in Botswana. The ceramic industry is limited to the manufacture of clay bricks notwithstanding a few studios on crockery and sanitary ware which nonetheless use imported clay. This paper presents natural resources and industrial waste products in Botswana that can be used for the development of sustainable building materials. It also investigates at the distribution and cost of other widely used building materials in the country. Finally, the present paper looks at projects and national strategies aimed at a country-wide development of a sustainable building materials industry together with their successes and hitches.

Keywords: Botswana construction industry, construction materials, natural resources, sustainable materials

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Authors: Leena Wanganoo

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In this digital age with the mushrooming of online companies across the globe has led to an unprecedented new business model. The frequency of online purchasing varies across the globe, but trend shows a steep upward movement. From Generation X to the Millennial the consumer not only wants to order the product with the click of mouse but also very demanding service quality during pre to post-transaction stage. The existing research examines the impact of website quality on the on behavioral intentions in e-services customers and has not adequately recognized the quality of e-commerce logistics perceived by the customer.In order to address this gap, this study examines the relationship among the logistics service quality, satisfaction, and loyalty. Drawing upon a sample of 350 millennial customers from various regions of UAE will work within the framework of structural equation modeling (SEM). Finally, the study would use Importance-Performance analysis (IPA) to discuss the relations of the level of customers’ expected logistics service quality and level of customers’ perceived logistics serviced quality.

Keywords: logistics service quality, customer satisfaction, loyalty, electronic commerce

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Authors: Mabrouka Al-Werfalli

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This paper aims to highlight reasons beyond the prevalence of “culture of corruption” amongst Libyans. One of the most prominent reason for the Libyan revolution in February 2011 was the pervasiveness of corruption. Corruption in Libya remained a significant problem despite harsh legislation and a robust anti-corruption discourse undertaken by the previous regime. The long-standing political corruption in Libya has offered ample opportunity for the evolution of a structure of negative values and morals. This has formed what is termed as a “culture of corruption”, which has induced people to accept and justify corrupt behaviour. The paper is a part of a study concerns the phenomenon of political alienation in Libya which was based on a survey conducted in 2001 in the city of Benghazi. The finding shows that abuse of power looms large within all activities. Embezzlement and misuse of public funds for personal enrichment is thought to be rife within public bodies, institutions, companies, factories, banks and enterprises owned entirely or partially by the state.

Keywords: corruption, culture of corruption, participation in corruption, abuse of power, embezzlement, political alienation, anti-corruption

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Authors: Piotr Prewysz-Kwinto

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A dynamic development of financial market is accompanied by the emergence of new products on stock exchanges which give absolutely new possibilities of investing money. Currently, the most innovative financial instruments offered to investors are exchange traded products (ETP). They can be defined as financial instruments whose price depends on the value of the underlying instrument. Thus, they offer investors a possibility of making a profit that results from the change in value of the underlying instrument without having to buy it. Currently, the Warsaw Stock Exchange offers many types of ETPs. They are investment products with full or partial capital protection, products without capital protection as well as leverage products, issued on such underlying instruments as indices, sector indices, commodity indices, prices of energy commodities, precious metals, agricultural produce or prices of shares of domestic and foreign companies. This paper presents the mechanism of functioning of ETP available on the Warsaw Stock Exchange and the results of the analysis of statistical data on these financial instruments.

Keywords: exchange traded products, financial market, investment, stock exchange

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Authors: Arkadiusz Mezyk, Wojciech Klein, Mariusz Pawlak, Jacek Gnilka

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The aortic heart valve stents should fulfill many criterions. These criteria have a strong impact on the geometrical shape of the stent. Usually, the final construction of stent is a result of many year experience and knowledge. Depending on patents claims, different stent shapes are produced by different companies. This causes difficulties for biomechanics engineers narrowing the domain of feasible solutions. The paper present optimization method for stent geometry defining by a specific analytical equation based on various mathematical functions. This formula was implemented as APDL script language in ANSYS finite element environment. For the purpose of simulation tests, a few parameters were separated from developed equation. The application of the genetic algorithms allows finding the best solution due to selected objective function. Obtained solution takes into account parameters such as radial force, compression ratio and coefficient of expansion on the transverse axial.

Keywords: aortic stent, optimization process, geometry, finite element method

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Authors: Svebor Secak

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This four-year artistic research project hosted by the University of New England, Australia has set the goal to experiment with non-conventional ways of presenting a language-based narrative in dance using insights of recent theoretical writing on performance, addressing the research question: How to transform an archival recording of a neoclassical ballet performance into a new artistic dance video by implementing postmodern philosophical concepts? The Creative Practice component takes the form of a dance video Hamlet Revisited which is a reworking of the archival recording of the neoclassical ballet Hamlet, augmented by new material, produced using resources, technicians and dancers of the Croatian National Theatre in Zagreb. The methodology for the creation of Hamlet Revisited consisted of extensive field and desk research after which three dancers were shown the recording of original Hamlet and then created their artistic response to it based on their reception and appreciation of it. The dancers responded differently, based upon their diverse dancing backgrounds and life experiences. They began in the role of the audience observing video of the original ballet and transformed into the role of the choreographer-performer. Their newly recorded material was edited and juxtaposed with the archival recording of Hamlet and other relevant footage, allowing for postmodern features such as aleatoric content, synchronicity, eclecticism and serendipity, that way establishing communication on a receptive reader-response basis, thus blending the roles of the choreographer, performer and spectator, creating an original work of art whose significance lies in the relationship and communication between styles, old and new choreographic approaches, artists and audiences and the transformation of their traditional roles and relationships. In editing and collating, the following techniques were used with the intention to avoid the singular narrative: fragmentation, repetition, reverse-motion, multiplication of images, split screen, overlaying X-rays, image scratching, slow-motion, freeze-frame and simultaneity. Key postmodern concepts considered were: deconstruction, diffuse authorship, supplementation, simulacrum, self-reflexivity, questioning the role of the author, intertextuality and incredulity toward grand narratives - departing from the original story, thus personalising its ontological themes. From a broad brush of diverse concepts and techniques applied in an almost prescriptive manner, the project focuses on intertextuality that proves to be valid on at least two levels. The first is the possibility of a more objective analysis in combination with a semiotic structuralist approach moving from strict relationships between signs to a multiplication of signifiers, considering the dance text as an open construction, containing the elusive and enigmatic quality of art that leaves the interpretive position open. The second one is the creation of the new work where the author functions as the editor, aware and conscious of the interplay of disparate texts and their sources which co-act in the mind during the creative process. It is argued here that the eclectic combination of the old and new material through constant oscillations of different discourses upon the same topic resulted in a transmodern integrationist recent work of art that might be applied as a model for reconsidering existing choreographic creations.

Keywords: Ballet Hamlet, intertextuality, transformation, transmodern dance video

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Authors: Vithaya Intaraphimol

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This research investigates the effect of financial accounting information and non-financial accounting reports on corporate credibility via strength of board of directors and market environment volatility as moderating effect. Data in this research is collected by questionnaire form non-financial companies listed on the Stock Exchange of Thailand. Multiple regression statistic technique is chosen for analyzing the data. The empirical results find that firms with greater financial accounting information reports and non-financial accounting information reports will gain greater corporate credibility. Therefore, the corporate reporting has the value for the firms. Moreover, the strength of board of directors will positively moderate the financial and non-financial accounting information reports and corporate credibility relationship. Whereas, market environment volatility will negatively moderate the financial and nonfinancial accounting information reports and corporate credibility relationship.

Keywords: corporate credibility, financial and non-financial reports, firms performance, economics

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Authors: Adrian Sauer, Lorenz Einberger, Florian Hilpert

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The advancements and technical innovations in the field of electric unmanned aviation over the past years opened the third dimension in areas like surveillance, logistics, and mobility for a wide range of private and commercial users. Researchers and companies are faced with the task of integrating their technology into airborne platforms. Especially start-ups and researchers require unmanned aerial vehicles (UAV), which can be quickly developed for specific use cases without spending significant time and money. This paper shows a design approach for the rapid development of a lightweight automatic separate-lift-thrust (SLT) electric vertical take-off and landing (eVTOL) UAV prototype, which is able to fulfill basic transportation as well as surveillance missions. The design approach does not require expensive or time-consuming design loop software. Thereby developers can easily understand, adapt, and adjust the presented method for their own project. The approach is mainly focused on crucial design aspects such as aerofoil, tuning, and powertrain.

Keywords: aerofoil, drones, rapid prototyping, powertrain

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Authors: Eduardo Remirez, Luis Moreno

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The rapid growth of the private satellite launchers sector is leading the space race. Hence, with the privatization of the sector, all the companies are racing for a more efficient and reliant way to set satellites in orbit. Having detected the current needs for power management in the launcher vehicle industry, the Modular Power Bus is proposed as a technology to revolutionize power management in current and future Launcher Vehicles. The MPBus Project is committed to develop a new power bus architecture combining ejectable batteries with the main bus through intelligent nodes. These nodes are able to communicate between them and a battery controller using an improved, data over DC line technology, expected to reduce the total weight in two main areas: improving the use of the batteries and reducing the total weight due to harness. This would result in less weight for each launch stage increasing the operational satellite payload and reducing cost. These features make the system suitable for a number of launchers.

Keywords: modular power bus, Launcher vehicles, ejectable batteries, intelligent nodes

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Authors: Fatmanur Avar, Kubra G. Kostepen, Seda Lafci

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In today’s world, technological innovations have brought out entirely new business understanding. Companies operating in logistics have become more flexible to business trends such as digitalization, innovation, sustainability, flexibility, and productivity. Through the arrival of the fourth industrial revolution called as industry 4.0 approach, the logistics concepts have been redefined. By adopting automated planning and scheduling, organizing and controlling systems such as Transportation Management System (TMS), Enterprise Resource Planning (ERP), warehouse control systems, it will be possible for businesses to be ahead of logistics process. In this research, the aim is to reveal the effects of logistics 4.0 applications for a third party logistics service provider (3PL) located in Turkey. Also, the impacts of logistics 4.0 on key performance indicators (KPI) are examined under the scope of the study. As a methodology, a semi-structured interview is conducted with a global 3PL company and data collected from interviews is analyzed with content analysis. At the end of the analysis, it is presented the effects of logistics 4.0 applications on logistics activities of the company. Limitations and suggestions are also offered.

Keywords: key performance indicators, KPI, logistics activities, logistics 4.0, 3PL

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Authors: Raghuveer Kaur, Kartikay Sharma, Ashu Khanna

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Earnings management has been present from times immemorial. The recent downfall of giant enterprises like Enron, Satyam and WorldCom has brought a lot of focus on the study and detection of earnings management. The present study is an attempt to study earnings management in one of the fastest emerging economy - India. The study makes an attempt to understand earnings management in different sectors of the economy. The paper first tests a hypothesis to check whether different sectors of India are engaged in earnings management or not. In the later section the paper aims to study the level of earnings management in 6 popular sectors of India: IT&BPO, Retail, Telecom, Biotech, Hotels and coffee. To measure earnings management two popular techniques of detecting earnings management has been employed: Modified Jones Model and Beniesh M Score. A total of 332 companies were studied. Publicly available data from Capitaline database has been used. The paper also classifies the top and bottom five performers on the basis of sales turnover in each sector and identifies whether they manage their earnings or not.

Keywords: earnings management, India, modified Jones model, Beneish M score

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Authors: Mohammad A. R. S. Almutairi

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This study will provide the introduction that constitutes the problem cornerstone of legal disputes of disclosure and transparency under Kuwaiti Capital market authority Law No. 7 of 2010. It also will discuss the reasons for the emergence of corporate governance and its purposes in the Capital Market Authority Law in Kuwait. In addition, it will show the legal disputes resulting from the unclear concept of disclosure and interest and will discuss the main reasons in support of the possible solution. In addition, this study will argue why the Capital Market Authority Law in Kuwait needs a clear concept and a straight structure of disclosure under section 100. This study will demonstrate why a clear disclosure is led to a better application of the law. This study will demonstrate the fairness in applying the law regarding the punishment against individual, companies and securities market. Furthermore, it will discuss added confidence between investors and the stock market with a clear concept under section 100. Finally, it will summarize arises problem and possible solution.

Keywords: corporate governors, disclosure, transparency, fairness

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Authors: Till Gramberg, Erwin Gross, Christoph Birenbaum

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This paper presents the approach of the Easy2IoT research project. Easy2IoT aims to enable companies in the prefabrication sheet metal and sheet metal processing industry to enter the Industrial Internet of Things (IIoT) with a low-threshold and cost-effective approach. It focuses on the development of physical hardware and software to easily capture machine activities from on a sawing machine, benefiting various stakeholders in the SME value chain, including machine operators, tool manufacturers and service providers. The methodological approach of Easy2IoT includes an in-depth requirements analysis and customer interviews with stakeholders along the value chain. Based on these insights, actions, requirements and potential solutions for smart services are derived. The focus is on providing actionable recommendations, competencies and easy integration through no-/low-code applications to facilitate implementation and connectivity within production networks. At the core of the project is a novel, non-invasive measurement and analysis system that can be easily deployed and made IIoT-ready. This system collects machine data without interfering with the machines themselves. It does this by non-invasively measuring the tension on a sawing machine. The collected data is then connected and analyzed using artificial intelligence (AI) to provide smart services through a platform-based application. Three Smart Services are being developed within Easy2IoT to provide immediate benefits to users: Wear part and product material condition monitoring and predictive maintenance for sawing processes. The non-invasive measurement system enables the monitoring of tool wear, such as saw blades, and the quality of consumables and materials. Service providers and machine operators can use this data to optimize maintenance and reduce downtime and material waste. Optimize Overall Equipment Effectiveness (OEE) by monitoring machine activity. The non-invasive system tracks machining times, setup times and downtime to identify opportunities for OEE improvement and reduce unplanned machine downtime. Estimate CO2 emissions for connected machines. CO2 emissions are calculated for the entire life of the machine and for individual production steps based on captured power consumption data. This information supports energy management and product development decisions. The key to Easy2IoT is its modular and easy-to-use design. The non-invasive measurement system is universally applicable and does not require specialized knowledge to install. The platform application allows easy integration of various smart services and provides a self-service portal for activation and management. Innovative business models will also be developed to promote the sustainable use of the collected machine activity data. The project addresses the digitalization gap between large enterprises and SME. Easy2IoT provides SME with a concrete toolkit for IIoT adoption, facilitating the digital transformation of smaller companies, e.g. through retrofitting of existing machines.

Keywords: smart services, IIoT, IIoT-platform, industrie 4.0, big data

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Authors: Eva Savy, Anthony Ruiz

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In extrusion blow molding, there is great variability in product quality due to the sensitivity of the machine settings. These variations lead to unnecessary rejects and loss of time. Yet production control is a major challenge for companies in this sector to remain competitive within their market. Current quality control methods only apply to finished products (vision control, leak test...). It has been shown that material melt temperature, blowing pressure, and ambient temperature have a significant impact on the variability of product quality. Since blowing is a key step in the process, we have studied this parameter in this paper. The objective is to determine if airflow analysis allows the identification of quality problems before the full completion of the manufacturing process. We conducted tests to determine if it was possible to identify a leakage defect and an obstructed defect, two common defects on products. The results showed that it was possible to identify a leakage defect by airflow analysis.

Keywords: extrusion blow molding, signal, sensor, defects, detection

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Authors: Gondu Vykunta Rao, Madhuri Bayya, Aruna Bharathi M., Paramesw Chidamparam, B. Murali

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The increase in software content in today’s electric vehicles is increasing attention to having vast, unique topographies from low emission to high efficiency, whereas the chemical batteries have huge short comes, such as limited cycle life, power density, and cost. As for understanding and visualization, the companies are turning toward the virtual vehicle to test their design in software which is known as a simulation in the loop (SIL). In this project, in addition to the electric vehicle (EV) technology, we are adding a dynamo with the vehicle for regenerative braking. Traditionally the principle of dynamos is used in lighting the purpose of the bicycle. Here by using the same mechanism, we are running the vehicle as well as charging the vehicle from system-level simulation to the model in the loop and then to the Hardware in Loop (HIL) by using model-based development.

Keywords: electric vehicle, simulation in the loop (SIL), model in loop (MIL), hardware in loop (HIL), dynamos, model-based development (MBD), permanent magnet synchronous motor (PMSM), current control (CC), field-oriented control (FOC), regenerative braking

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Authors: Kim Lytle, Tim Talty, Alan Michaels, Jeff Reed

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Implantable medical devices (IMDs) are medically necessary devices embedded in the human body that monitor chronic disorders or automatically deliver therapies. Most IMDs have wireless capabilities that allow them to share data with an offboard programming device to help medical providers monitor the patient’s health while giving the patient more insight into their condition. However, serious security concerns have arisen as researchers demonstrated these devices could be hacked to obtain sensitive information or harm the patient. Cooperative jamming can be used to prevent privileged information leaks by maintaining an adequate signal-to-noise ratio at the intended receiver while minimizing signal power elsewhere. This paper uses ray tracing to demonstrate how a low number of friendly nodes abiding by Bluetooth Low Energy (BLE) transmission regulations can enhance IMD communication security in an office environment, which in turn may inform how companies and individuals can protect their proprietary and personal information.

Keywords: implantable biomedical devices, communication system security, array signal processing, ray tracing

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Authors: Flavio Araujo, Julio Lima, Paulo Scalize, Antonio Albuquerque, Isabela Santos

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The aim of this study was to perform the physicochemical characterizations of the residue generated in the Meia-Ponte Water Treatment Plant, seeking to obtain normative parameters and consider sustainable alternatives for reincorporation of the residues in the productive chain for manufacturing various materials construction. In order to reduce the environmental liabilities generated by sanitation companies and discontinue unsustainable forms of disposal as the launching of the residue in the rivers, disposal in landfills or burning it, because such ways pollute watercourses, ground and air. The analyzes performed: Granulometry, identification of clay minerals, Scanning Electron Microscopy, and X-Ray Diffraction demonstrated the potential application of residues to replace the soil and sand, because it has characteristics compatible with small aggregate and can be used as feedstock for the manufacture of materials as ceramic and soil-cement bricks, mortars, interlocking floors and concrete artifacts.

Keywords: recovery of waste, residue, sustainable, water treatment plant, WTR

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Authors: Gifty Kumadey, Albert Tchey Agbenyegah

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This study explores the role of stakeholders in developing a sustainable supply chain policy framework in Ghana's pharmaceutical industry. It employs a qualitative research design to analyze policy documents, academic articles, and reports, shedding light on stakeholder involvement. The findings highlight the contributions of government agencies, regulatory bodies, pharmaceutical companies, suppliers, and civil society organizations. Key policies such as green procurement, waste management, and recycling initiatives are identified. However, challenges such as limited transparency, supplier engagement, and regulatory complexity impede implementation. The study recommends strengthening collaboration and promoting transparency to overcome these challenges. The findings provide valuable insights for policymakers, industry stakeholders, and researchers seeking to advance sustainable supply chain practices in Ghana's pharmaceutical industry.

Keywords: stakeholders, sustainable supply chain, policy framework, pharmaceutical industry

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Authors: Eko Budi Santoso

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There is a growing interest in Corporate Social Responsibility (CSR) issues in developing countries such as Indonesia. Firms disclose their CSR activities, and some provide assurance to gain recognition as socially responsible firms. However, several of those socially responsible firms involve in tax scandals and raise a question of whether CSR disclosure is used to disguise firm misconduct or as a reflection of socially responsible firms. Specifically, whether firms engage in CSR disclosure and its assurance also responsible for their tax matters. This study examines the association between CSR disclosure and tax aggressiveness and the role of sustainability reporting assurance to the association. This research develops a modified index according to global reporting initiatives to measure CSR disclosure and various measurement for tax aggressiveness. Using a sample of Indonesian go public companies issued CSR disclosure, the empirical result shows that there is an association between CSR disclosure and tax aggressiveness. In addition, results also indicate sustainability reporting assurance moderate those association. The findings suggest that stakeholder in developing countries should examine carefully firms with active CSR disclosure before label it as socially responsible firms. JEL Classification: M14

Keywords: CSR disclosure, tax aggressiveness, assurance, business ethics

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Authors: Raif Parlakkaya, Umran Kahraman, Huseyin Cetin

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Internet financial reporting and corporate governance issues are in the focus of academic and professional studies due to their attributed importance by stakeholders of corporations. Major aim of this study is to reveal the relationship between internet financial reporting which is held as dependent variable and some indicators of corporate governance such as the ratio of managerial ownership, blockholder ownership, number of independent members in the board of directors, frequency of meetings by audit committee and education level of audit committee members which are held as independent variables. Main purpose is to reveal the effect of corporate governance on the voluntary efforts of Internet Financial reporting. The scope of the research is limited to the Turkish Corporations listed in Borsa Istanbul (Istanbul Stock Exchange) and findings which are generated by means of SPSS software are revealed in results section and interpreted in conclusions.

Keywords: audit committee, corporate governance, internet financial reporting, managerial ownership

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Authors: Mohamed A. Hegazy

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Most of Poly Vinyl Chloride (PVC) petrochemical companies produce huge amount of byproduct which characterized as carcinogenic liquid-wastes, insoluble in water, highly corrosive and highly offensive. This byproduct is partially use, a small part, in the production of hydrochloric acid and the huge part is a waste. Therefore, the aim of this work was to conversion of such PVC wastes, to an environmentally safe product that act as a corrosion Inhibitor for metals in ‎aqueous media and as a biocide for microorganisms. This conversion method was accomplished mainly to protect the environment and to produce high economic value-products. The conversion process was established and the final product was tested for the toxicity, water solubility in comparison to the crude product. Furthermore, the end product was tested as a corrosion inhibitor in 1M HCl and as a broad-spectrum biocide against standard microbial strains and against the environmentally isolated Sulfate-reducing bacteria (SRB) microbial community.

Keywords: PVC, surfactant, corrosion inhibitor, biocide, SRB

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Authors: B. Godefroy, D. Beladjine, K. Beddiar

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In France, construction BIM actors commonly evoke the BIM gains for exploitation by integrating of the life cycle of a building. The standardization of level 7 of development would achieve this stage of the digital model. The householders include local public authorities, social landlords, public institutions (health and education), enterprises, facilities management companies. They have a dual role: owner and manager of their housing complex. In a context of financial constraint, the BIM of exploitation aims to control costs, make long-term investment choices, renew the portfolio and enable environmental standards to be met. It assumes a knowledge of the existing buildings, marked by its size and complexity. The information sought must be synthetic and structured, it concerns, in general, a real estate complex. We conducted a study with professionals about their concerns and ways to use it to see how householders could benefit from this development. To obtain results, we had in mind the recurring interrogation of the project management, on the needs of the operators, we tested the following stages: 1) Inculcate a minimal culture of BIM with multidisciplinary teams of the operator then by business, 2) Learn by BIM tools, the adaptation of their trade in operations, 3) Understand the place and creation of a graphic and technical database management system, determine the components of its library so their needs, 4) Identify the cross-functional interventions of its managers by business (operations, technical, information system, purchasing and legal aspects), 5) Set an internal protocol and define the BIM impact in their digital strategy. In addition, continuity of management by the integration of construction models in the operation phase raises the question of interoperability in the control of the production of IFC files in the operator’s proprietary format and the export and import processes, a solution rivaled by the traditional method of vectorization of paper plans. Companies that digitize housing complex and those in FM produce a file IFC, directly, according to their needs without recourse to the model of construction, they produce models business for the exploitation. They standardize components, equipment that are useful for coding. We observed the consequences resulting from the use of the BIM in the property industry and, made the following observations: a) The value of data prevail over the graphics, 3D is little used b) The owner must, through his organization, promote the feedback of technical management information during the design phase c) The operator's reflection on outsourcing concerns the acquisition of its information system and these services, observing the risks and costs related to their internal or external developments. This study allows us to highlight: i) The need for an internal organization of operators prior to a response to the construction management ii) The evolution towards automated methods for creating models dedicated to the exploitation, a specialization would be required iii) A review of the communication of the project management, management continuity not articulating around his building model, it must take into account the environment of the operator and reflect on its scope of action.

Keywords: information system, interoperability, models for exploitation, property industry

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Authors: Nadia Belu, Laurenţiu Mihai Ionescu, Agnieszka Misztal

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The automotive industry is one of the most important industries in the world that concerns not only the economy, but also the world culture. In the present financial and economic context, this field faces new challenges posed by the current crisis, companies must maintain product quality, deliver on time and at a competitive price in order to achieve customer satisfaction. Two of the most recommended techniques of quality management by specific standards of the automotive industry, in the product development, are Failure Mode and Effects Analysis (FMEA) and Control Plan. FMEA is a methodology for risk management and quality improvement aimed at identifying potential causes of failure of products and processes, their quantification by risk assessment, ranking of the problems identified according to their importance, to the determination and implementation of corrective actions related. The companies use Control Plans realized using the results from FMEA to evaluate a process or product for strengths and weaknesses and to prevent problems before they occur. The Control Plans represent written descriptions of the systems used to control and minimize product and process variation. In addition Control Plans specify the process monitoring and control methods (for example Special Controls) used to control Special Characteristics. In this paper we propose a computer-aided solution with Genetic Algorithms in order to reduce the drafting of reports: FMEA analysis and Control Plan required in the manufacture of the product launch and improved knowledge development teams for future projects. The solution allows to the design team to introduce data entry required to FMEA. The actual analysis is performed using Genetic Algorithms to find optimum between RPN risk factor and cost of production. A feature of Genetic Algorithms is that they are used as a means of finding solutions for multi criteria optimization problems. In our case, along with three specific FMEA risk factors is considered and reduce production cost. Analysis tool will generate final reports for all FMEA processes. The data obtained in FMEA reports are automatically integrated with other entered parameters in Control Plan. Implementation of the solution is in the form of an application running in an intranet on two servers: one containing analysis and plan generation engine and the other containing the database where the initial parameters and results are stored. The results can then be used as starting solutions in the synthesis of other projects. The solution was applied to welding processes, laser cutting and bending to manufacture chassis for buses. Advantages of the solution are efficient elaboration of documents in the current project by automatically generating reports FMEA and Control Plan using multiple criteria optimization of production and build a solid knowledge base for future projects. The solution which we propose is a cheap alternative to other solutions on the market using Open Source tools in implementation.

Keywords: automotive industry, FMEA, control plan, automotive technology

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Authors: Sylwia Frydrych, Jörg Prokop, Michał Buszko

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This study investigates the complex relationship between corporate ESG (Environmental, Social, Governance) performance and stock price risk within the European market context. By analyzing a dataset of 435 companies across 19 European countries, the research assesses the impact of both combined ESG performance and its individual components on various risk measures, including volatility, idiosyncratic risk, systematic risk, and downside risk. The findings reveal that while overall ESG scores do not significantly influence stock price risk, disaggregating the ESG components uncovers significant relationships. Governance practices are shown to consistently reduce market risk, positioning them as critical in risk management. However, environmental engagement tends to increase risk, particularly in times of regulatory shifts like those introduced in the EU post-2018. This research provides valuable insights for investors and corporate managers on the nuanced roles of ESG factors in financial risk, emphasizing the need for careful consideration of each ESG pillar in decision-making processes.

Keywords: ESG performance, ESG factors, ESG pillars, ESG scores

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Authors: Hotlan Siagian, Han Tae Hee

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This study aims to examine the effect of supplier trust and top management involvement on the supply chain risk management through buyer-supplier relationship. The population of the research is 44 Korean companies domiciled in East and Central Java of Indonesia. The respondent consists of a top management level from each company. Data collection used a questionnaire designed with five-item Likert scale. Collected data were analyzed using structural equation modeling (SEM) technique with SmartPLS software version 3.0 to examine the hypotheses. The result revealed that supplier trust has an effect on supply chain risk management, top management involvement affects supply chain risk management, supplier trust influences buyer-supplier relationship, top management involvement affects the buyer-supplier relationship, and buyer-supplier relationship affects supply chain risk management. The last finding is that buyer-supplier relationship empirically mediates the effect of supplier trust and top management involvement.

Keywords: buyer supplier relationship, supplier trust, supply chain risk management, top management involvement

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Authors: Nitin Singh, Meng Ling, Talha Ahmed, Tianxia Zhao, Reinier van de Pol

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We propose the use of reinforcement learning (RL) as a viable alternative for optimizing supply chain management, particularly in scenarios with stochasticity in product demands. RL’s adaptability to changing conditions and its demonstrated success in diverse fields of sequential decision-making makes it a promising candidate for addressing supply chain problems. We investigate the impact of demand fluctuations in a multi-product supply chain system and develop RL agents with learned generalizable policies. We provide experimentation details for training RL agents and statistical analysis of the results. We study the generalization ability of RL agents for different demand uncertainty scenarios and observe superior performance compared to the agents trained with fixed demand curves. The proposed methodology has the potential to lead to cost reduction and increased profit for companies dealing with frequent inventory movement between supply and demand nodes.

Keywords: inventory management, reinforcement learning, supply chain optimization, uncertainty

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Authors: H. Erbiyik, A. Bal, M. Sirakaya, Ö. Yesildal, E. Yolcu

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The emergence of many environmental issues began with the Industrial Revolution. The depletion of natural resources and emerging environmental challenges over time requires enterprises and managers to take into consideration environmental factors while managing business. If we take notice of these causes; the design and implementation of environmentally friendly green purchasing, production and waste management systems become very important at green logistics systems. Companies can adopt green supply chain with the awareness of these facts. The concept of green supply chain constitutes from green purchasing, green production, green logistics, waste management and reverse logistics. In this study, we wanted to identify the concept of green supply chain and why green supply chain should be applied. In the practice part of the study an analytic hierarchy process (AHP) study is conducted on an aluminum production company to evaluate suppliers.

Keywords: aluminum sector, analytic hierarchy process, decision making, green logistics

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Authors: Anne Kariuki, Kellen Kiambati

Abstract:

The broad objective of this study was to establish the mediating effect of media visibility on the relationship between corporate Social Responsibility (CSR) and the corporate performance of firms listed on the Nairobi Securities Exchange. The review of the literature provided conceptual and empirical gaps that formed the basis of the conceptual hypotheses. A survey questionnaire was distributed to the 50 heads of human resource departments in the different firms. A survey was conducted on fifty (50) companies listed on the Nairobi Securities Exchange. The study findings reported a significant relationship between CSR and non-financial performance and the mediating role of media visibility on the relationship between CSR and performance. The findings of the study support the signaling theory and stakeholder’s theory. Conclusively, CSR activities have an effect on media visibility, which in turn affects performance.

Keywords: corporate social responsibility, media visibility, corporate performance, non-financial performance

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Authors: Watchara Songserm, Teeradej Wuttipornpun

Abstract:

This paper presents a genetic algorithm based permutation and non-permutation scheduling heuristics (GAPNP) to solve a multi-stage finite capacity material requirement planning (FCMRP) problem in automotive assembly flow shop with unrelated parallel machines. In the algorithm, the sequences of orders are iteratively improved by the GA characteristics, whereas the required operations are scheduled based on the presented permutation and non-permutation heuristics. Finally, a linear programming is applied to minimize the total cost. The presented GAPNP algorithm is evaluated by using real datasets from automotive companies. The required parameters for GAPNP are intently tuned to obtain a common parameter setting for all case studies. The results show that GAPNP significantly outperforms the benchmark algorithm about 30% on average.

Keywords: capacitated MRP, genetic algorithm, linear programming, automotive industries, flow shop, application in industry

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Authors: Anusha Chanda, Reenu Singh

Abstract:

Packaging is one of the major contributors to global waste. While efforts are being made to switch to more sustainable types of packaging, such as switching from single use plastics to paper, not all polluting materials, have been rethought in terms of recycling. Minimalism in packaging design can help reduce the amount of waste produced greatly. While online companies have shifted to using cardboard boxes for packages, a large amount of waste in still generated from other materials affiliated with cardboard packaging, such as tape, bubble wrap, plastic wrap, among others. Minimalism also works by reducing extra packaging and increasing the reusability of the material. This paper looks at research related to minimalism in packaging design, minimalism, and sustainability. A survey was conducted in order to find out the different ways in which minimalism can be implemented in packaging design. Information gathered from the research and responses from the survey was used to ideate product design alternatives for sustainable substitutes for bubble wrap in packaging. This would help greatly reduce the amount of packaging waste and improve environmental quality.

Keywords: environment, minimalism, packaging, product design, sustainable

Procedia PDF Downloads 248