Search results for: insurance product knowledges
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 3970

Search results for: insurance product knowledges

2590 Research on Carbon Fiber Tow Spreading Technique with Multi-Rolls

Authors: Soon Ok Jo, Han Kyu Jeung, Si Woo Park

Abstract:

With the process of consistent expansion of carbon fiber in width (Carbon Fiber Tow Spreading Technique), it can be expected that such process can enhance the production of carbon fiber reinforced composite material and quality of the product. In this research, the method of mechanically expanding carbon fiber and increasing its width was investigated by using various geometric rolls. In addition, experimental type of carbon fiber expansion device was developed and tested using 12K carbon fiber. As a result, the effects of expansion of such fiber under optimized operating conditions and geometric structure of an elliptical roll, were analyzed.

Keywords: carbon fiber, tow spreading fiber, pre-preg, roll structure

Procedia PDF Downloads 328
2589 Assessing Economic Losses Of 2104 Flood Disaster: A Case Study on Dabong, Kelantan, Malaysia

Authors: Ahmad Hamidi Mohamed, Jamaluddin Othman, Mashitah Suid, Mohd Zaim Mohd Shukri

Abstract:

Floods are considered an annual natural disaster in Kelantan. However, the record-setting flood of 2014 was a 'tsunami-like disaster'. A study has been conducted with the objectives to assess the economic impact of the flood to the resident of Dabong area in Kelantan Darul Naim, Malaysia. This area was selected due to the severity during the flood. The impacts of flood on local people were done by conducting structured interviews with the use of questionnaires. The questionnaire was intended to acquire information on losses faced by Dabong residence. Questionnaires covered various areas of inconveniences suffered with respect to health effects, including illnesses suffered, their intensities, duration and their associated costs. Loss of productivity and quality of life was also assessed. Inquiries were made to Government agencies to obtain relevant statistical data regarding the loss due to the flood tragedy. The data collected by giving formal request to the governmental agencies and formal meetings were done. From the study a staggering amount of losses were calculated. This figure comes from losses of property, Farmers/Agriculture, Traders/Business, Health, Insurance and Governmental losses. Flood brings hardship to the people of Dabong and these losses of home will cause inconveniences to the society. The huge amount of economic loss extracted from this study shows that federal and state government of Kelantan need to find out the cause of the major flood in 2014. Fast and effective measures have to be planned and implemented in flood prone area to prevent same tragedy happens in the future.

Keywords: economic impact, flood tragedy, Malaysia, property losses

Procedia PDF Downloads 246
2588 A Framework for Auditing Multilevel Models Using Explainability Methods

Authors: Debarati Bhaumik, Diptish Dey

Abstract:

Multilevel models, increasingly deployed in industries such as insurance, food production, and entertainment within functions such as marketing and supply chain management, need to be transparent and ethical. Applications usually result in binary classification within groups or hierarchies based on a set of input features. Using open-source datasets, we demonstrate that popular explainability methods, such as SHAP and LIME, consistently underperform inaccuracy when interpreting these models. They fail to predict the order of feature importance, the magnitudes, and occasionally even the nature of the feature contribution (negative versus positive contribution to the outcome). Besides accuracy, the computational intractability of SHAP for binomial classification is a cause of concern. For transparent and ethical applications of these hierarchical statistical models, sound audit frameworks need to be developed. In this paper, we propose an audit framework for technical assessment of multilevel regression models focusing on three aspects: (i) model assumptions & statistical properties, (ii) model transparency using different explainability methods, and (iii) discrimination assessment. To this end, we undertake a quantitative approach and compare intrinsic model methods with SHAP and LIME. The framework comprises a shortlist of KPIs, such as PoCE (Percentage of Correct Explanations) and MDG (Mean Discriminatory Gap) per feature, for each of these three aspects. A traffic light risk assessment method is furthermore coupled to these KPIs. The audit framework will assist regulatory bodies in performing conformity assessments of AI systems using multilevel binomial classification models at businesses. It will also benefit businesses deploying multilevel models to be future-proof and aligned with the European Commission’s proposed Regulation on Artificial Intelligence.

Keywords: audit, multilevel model, model transparency, model explainability, discrimination, ethics

Procedia PDF Downloads 75
2587 Out of the Closet: Transgressive Representations of Queer Intimacy in Filipino Mainstream Media

Authors: Darel Magramo

Abstract:

This study argues that media representations of queer intimacies can be transgressive. Representations of queerness in local and international media can be a reflection of the culture where the media product belongs to and these representations can be peculiar and intolerable to different communities. Since these representations of queerness in any media product are rare and unacceptable it can be seen as transgressive in a way that it goes beyond the norms of a particular community and violates the common perceptions about gender and sexuality. Examining media representations of the queer community in a predominantly Catholic country means breaking the religious belief, principles, and stereotypes about homosexuality and same-sex relationship. Using a mainstream media and gender theory this study examined whether and how one particular Filipino mainstream media representation of queer intimacies can enact such transgression. Over the past years Original Pinoy Music (Original Filipino Music) or OPM has produced chart-topping and controversial hit songs which includes: This guy is in love with you pare (pare refers to a guy or men) released in 2002: Nagmahal ako ng bakla (I fell in love with a gay) released in 2009: and lastly Pare mahal mo raw ako (Man, you love me?) released in 2014. By examining these songs, this study outlines tropes on how OPM songs present transgression in queer intimacy including the image of love for money only to gaiety and satisfaction which presents how an openly gay man makes a cisgender man falls in love for him by satisfying him through his humorous antics, this is one way of showing transgression in queer relationship in Philippine context by going beyond the common stereotype of a cisgender man falling in love to a gay man for his wealth to falling in love genuinely because of gaiety and satisfaction in the relationship. This study also identifies how media created a new way of presenting gay and homosexual relationship - from the stereotypes of gays having illnesses and mental health problems, mainstream media continues to present that queer relationship is not all about love and sexual desire but also it promotes acceptance and love towards people in the community. A queer relationship does not only revolve in the idea of having a same-sex relationship but the idea that queer relationship is also between friends and other people of the community by manifesting acceptance and love. Amidst the conservative culture of the Philippines, mainstream media continues to progress and develop ways on how to present gender and sexuality in different media products. These representations create a transgressive way of showing acceptance and understanding towards identities particularly homosexuality and queer relationships.

Keywords: gender studies, homosexuality, media representations, queer intimacy

Procedia PDF Downloads 141
2586 Using Mind Mapping and Morphological Analysis within a New Methodology for Teaching Students of Products’ Design

Authors: Kareem Saber

Abstract:

Many products’ design instructors search for how to help students to develop their designs simply by reducing design stages and extrapolating simple design process forms to achieve design creativity. So, the researcher extrapolated a new design process form called “hierarchical design” which reduced design process into three stages and he had tried that methodology on about two hundred students. That trial had led to great results as students could develop their designs which characterized by creativity and innovation. That proved the success and effectiveness of the proposed methodology.

Keywords: mind mapping, morphological analysis, product design, design process

Procedia PDF Downloads 155
2585 Valorization of Seafood and Poultry By-Products as Gelatin Source and Quality Assessment

Authors: Elif Tugce Aksun Tumerkan, Umran Cansu, Gokhan Boran, Fatih Ozogul

Abstract:

Gelatin is a mixture of peptides obtained from collagen by partial thermal hydrolysis. It is an important and useful biopolymer that is used in the food, pharmacy, and photography products. Generally, gelatins are sourced from pig skin and bones, beef bone and hide, but within the last decade, using alternative gelatin resources has attracted some interest. In this study, functional properties of gelatin extracted from seafood and poultry by-products were evaluated. For this purpose, skins of skipjack tuna (Katsuwonus pelamis) and frog (Rana esculata) were used as seafood by-products and chicken skin as poultry by-product as raw material for gelatin extraction. Following the extraction of gelatin, all samples were lyophilized and stored in plastic bags at room temperature. For comparing gelatins obtained; chemical composition, common quality parameters including bloom value, gel strength, and viscosity in addition to some others like melting and gelling temperatures, hydroxyproline content, and colorimetric parameters were determined. The results showed that the highest protein content obtained in frog gelatin with 90.1% and the highest hydroxyproline content was in chicken gelatin with 7.6% value. Frog gelatin showed a significantly higher (P < 0.05) melting point (42.7°C) compared to that of fish (29.7°C) and chicken (29.7°C) gelatins. The bloom value of gelatin from frog skin was found higher (363 g) than chicken and fish gelatins (352 and 336 g, respectively) (P < 0.05). While fish gelatin had higher lightness (L*) value (92.64) compared to chicken and frog gelatins, redness/greenness (a*) value was significantly higher in frog skin gelatin. Based on the results obtained, it can be concluded that skins of different animals with high commercial value may be utilized as alternative sources to produce gelatin with high yield and desirable functional properties. Functional and quality analysis of gelatin from frog, chicken, and tuna skin showed by-product of poultry and seafood can be used as an alternative gelatine source to mammalian gelatine. The functional properties, including bloom strength, melting points, and viscosity of gelatin from frog skin were more admirable than that of the chicken and tuna skin. Among gelatin groups, significant characteristic differences such as gel strength and physicochemical properties were observed based on not only raw material but also the extraction method.

Keywords: chicken skin, fish skin, food industry, frog skin, gel strength

Procedia PDF Downloads 141
2584 Risks in the Islamic Banking Model and Methods Adopted to Manage Them

Authors: K. P. Fasalu Rahman

Abstract:

The financial services industry of Islam include large number of institutions, such as investment banks and commercial banks, investment companies and mutual insurance companies. All types of these financial institutions should have to deal with many issues and risks in their field of work. Islamic banks should expect to face two types of risks: risks that are similar to those faced by conventional financial intermediaries and risks that are unique to the Islamic Banks due to their compliance with the Shariah. The use of financial services and products that comply with the Shariah principles cause special issues for supervision and risk management. Risks are uncertain future events that could influence the achievement of the bank’s objectives, including strategic, operational, financial and compliance objectives. In Islamic banks, effective risk management deserves special attention. As an operational problem, risk management is the classification and identification of methods, processes, and risks in banks to supervise, monitor and measure them. In comparison to conventional banks, Islamic banks face big difficulties in identifying and managing risks due to bigger complexities emerging from the profit loss sharing (PLS) concept and nature of particular risks of Islamic financing. As the developing of managing risks tool becomes very essential, especially in Islamic banking as most of the products are depending on PLS principle, identifying and measuring each type of risk is highly important and critical in any Islamic finance based systems. This paper highlights the special and general risks surrounding Islamic banking. And it investigates in detail the need for risk management in Islamic banks. In addition to analyzing the effectiveness of risk management strategies adopted by Islamic financial institutions at present, this research is also suggesting strategies for improving risk management process of Islamic banks in future.

Keywords: Islamic banking, management, risk, risk management

Procedia PDF Downloads 125
2583 An Organic Dye-Based Staining for Plant DNA

Authors: Begüm Terzi, Özlem Ateş Sönmezoğlu, Kerime Özkay, Ahmet Yıldırım

Abstract:

In plant biotechnology, electrophoresis is used to detect nucleic acids. Ethidium bromide (EtBr) is used as an intercalator dye to stain DNA in agarose gel electrophoresis, but this dye is mutagenic and carcinogenic. In this study, a visible, reliable and organic Ruthenium-based dye (N-719) for staining plant DNA in comparison to EtBr. When prestaining and post-staining for gel electrophoresis, N-719 stained both DNA and PCR product bands with the same clarity as EtBr. The organic dye N-719 stained DNA bands as sensitively and as clearly as EtBr. The organic dye was found to have staining activity suitable for the identification of DNA.Consequently, N-719 organic dye can be used to stain and visualize DNA during gel electrophoresis as alternatives to EtBr in plant biotechnology studies.

Keywords: agarose gel, DNA staining, organic dye, N-719

Procedia PDF Downloads 248
2582 Developing Innovations in Classrom Teaching: Process or Product

Authors: Mani Ram Sharma

Abstract:

We live in a busy world with sudden distractions and many things to think about. The rapid speed of science and technology keeps our world in constant motion. Students leaving the classroom after being taught by the teachers are thinking about a thousand things: "Did I understand what teacher taught?" However, when they come into the classroom, as teachers, we expect them to be ready to learn, ready to receive information, and retain it. There is a question that how can learners do this with so much in their learning process. It is obliviously with the use of innovation in the classroom. It fosters the students to learn innovatively to establish learner's autonomy. This article outlines the role, need, and process of innovation in the language classroom and teaching.

Keywords: distraction, foster, innovation, learner's autonomy, retainment

Procedia PDF Downloads 253
2581 Reverse Logistics Information Management Using Ontological Approach

Authors: F. Lhafiane, A. Elbyed, M. Bouchoum

Abstract:

Reverse Logistics (RL) Process is considered as complex and dynamic network that involves many stakeholders such as: suppliers, manufactures, warehouse, retails, and costumers, this complexity is inherent in such process due to lack of perfect knowledge or conflicting information. Ontologies, on the other hand, can be considered as an approach to overcome the problem of sharing knowledge and communication among the various reverse logistics partners. In this paper, we propose a semantic representation based on hybrid architecture for building the Ontologies in an ascendant way, this method facilitates the semantic reconciliation between the heterogeneous information systems (ICT) that support reverse logistics Processes and product data.

Keywords: Reverse Logistics, information management, heterogeneity, ontologies, semantic web

Procedia PDF Downloads 478
2580 Development of Coir Reinforced Composite for Automotive Parts Application

Authors: Okpala Charles Chikwendu, Ezeanyim Okechukwu Chiedu, Onukwuli Somto Kenneth

Abstract:

The demand for lightweight and fuel-efficient automobiles has led to the use of fiber-reinforced polymer composites in place of traditional metal parts. Coir, a natural fiber, offers qualities such as low cost, good tensile strength, and biodegradability, making it a potential filler material for automotive components. However, poor interfacial adhesion between coir and polymeric matrices has been a challenge. To address poor interfacial adhesion with polymeric matrices due to their moisture content and method of preparation, the extracted coir was chemically treated using NaOH. To develop a side view mirror encasement by investigating the mechanical effect of fiber percentage composition, fiber length and percentage composition of Epoxy in a coir fiber reinforced composite, polyester was adopted as the resin for the mold, while that of the product is Epoxy. Coir served as the filler material for the product. Specimens with varied compositions of fiber loading (15, 30 and 45) %, length (10, 15, 20, 30 and 45) mm, and (55, 70, 85) % weight of epoxy resin were fabricated using hand lay-up technique, while those specimens were later subjected to mechanical tests (Tensile, Flexural and Impact test). The results of the mechanical test showed that the optimal solution for the input factors is coir at 45%, epoxy at 54.543%, and 45mm coir length, which was used for the development of a vehicle’s side view mirror encasement. The optimal solutions for the response parameters are 49.333 Mpa for tensile strength, flexural for 57.118 Mpa, impact strength for 34.787 KJ/M2, young modulus for 4.788 GPa, stress for 4.534 KN, and 20.483 mm for strain. The models that were developed using Design Expert software revealed that the input factors can achieve the response parameters in the system with 94% desirability. The study showed that coir is quite durable for filler material in an epoxy composite for automobile applications and that fiber loading and length have a significant effect on the mechanical behavior of coir fiber-reinforced epoxy composites. The coir's low density, considerable tensile strength, and bio-degradability contribute to its eco-friendliness and potential for reducing the environmental hazards of synthetic automotive components.

Keywords: coir, composite, coir fiber, coconut husk, polymer, automobile, mechanical test

Procedia PDF Downloads 39
2579 Pay Per Click Attribution: Effects on Direct Search Traffic and Purchases

Authors: Toni Raurich-Marcet, Joan Llonch-Andreu

Abstract:

This research is focused on the relationship between Search Engine Marketing (SEM) and traditional advertising. The dominant assumption is that SEM does not help brand awareness and only does it in session as if it were the cost of manufacturing the product being sold. The study is methodologically developed using an experiment where the effects were determined to analyze the billboard effect. The research allowed the cross-linking of theoretical and empirical knowledge on digital marketing. This paper has validated this marketing generates retention as traditional advertising would by measuring brand awareness and its improvements. This changes the way performance and brand campaigns are split within marketing departments, effectively rebalancing budgets moving forward.

Keywords: attribution, performance marketing, SEM, marketplaces

Procedia PDF Downloads 112
2578 Using Optimal Cultivation Strategies for Enhanced Biomass and Lipid Production of an Indigenous Thraustochytrium sp. BM2

Authors: Hsin-Yueh Chang, Pin-Chen Liao, Jo-Shu Chang, Chun-Yen Chen

Abstract:

Biofuel has drawn much attention as a potential substitute to fossil fuels. However, biodiesel from waste oil, oil crops or other oil sources can only satisfy partial existing demands for transportation. Due to the feature of being clean, green and viable for mass production, using microalgae as a feedstock for biodiesel is regarded as a possible solution for a low-carbon and sustainable society. In particular, Thraustochytrium sp. BM2, an indigenous heterotrophic microalga, possesses the potential for metabolizing glycerol to produce lipids. Hence, it is being considered as a promising microalgae-based oil source for biodiesel production and other applications. This study was to optimize the culture pH, scale up, assess the feasibility of producing microalgal lipid from crude glycerol and apply operation strategies following optimal results from shake flask system in a 5L stirred-tank fermenter for further enhancing lipid productivities. Cultivation of Thraustochytrium sp. BM2 without pH control resulted in the highest lipid production of 3944 mg/L and biomass production of 4.85 g/L. Next, when initial glycerol and corn steep liquor (CSL) concentration increased five times (50 g and 62.5 g, respectively), the overall lipid productivity could reach 124 mg/L/h. However, when using crude glycerol as a sole carbon source, direct addition of crude glycerol could inhibit culture growth. Therefore, acid and metal salt pretreatment methods were utilized to purify the crude glycerol. Crude glycerol pretreated with acid and CaCl₂ had the greatest overall lipid productivity 131 mg/L/h when used as a carbon source and proved to be a better substitute for pure glycerol as carbon source in Thraustochytrium sp. BM2 cultivation medium. Engineering operation strategies such as fed-batch and semi-batch operation were applied in the cultivation of Thraustochytrium sp. BM2 for the improvement of lipid production. In cultivation of fed-batch operation strategy, harvested biomass 132.60 g and lipid 69.15 g were obtained. Also, lipid yield 0.20 g/g glycerol was same as in batch cultivation, although with poor overall lipid productivity 107 mg/L/h. In cultivation of semi-batch operation strategy, overall lipid productivity could reach 158 mg/L/h due to the shorter cultivation time. Harvested biomass and lipid achieved 232.62 g and 126.61 g respectively. Lipid yield was improved from 0.20 to 0.24 g/g glycerol. Besides, product costs of three kinds of operation strategies were also calculated. The lowest product cost 12.42 $NTD/g lipid was obtained while employing semi-batch operation strategy and reduced 33% in comparison with batch operation strategy.

Keywords: heterotrophic microalga Thrasutochytrium sp. BM2, microalgal lipid, crude glycerol, fermentation strategy, biodiesel

Procedia PDF Downloads 134
2577 A Comparative Study of Three Major Performance Testing Tools

Authors: Abdulaziz Omar Alsadhan, Mohd Mudasir Shafi

Abstract:

Performance testing is done to prove the reliability of any software product. There are a number of tools available in the markets that are used to perform performance testing. In this paper we present a comparative study of the three most commonly used performance testing tools. These tools cover the major share of the performance testing market and are widely used. In this paper we compared the tools on five evaluation parameters which are; User friendliness, portability, tool support, compatibility and cost. The conclusion provided at the end of the paper is based on our study and does not support any tool or company.

Keywords: software development, software testing, quality assurance, performance testing, load runner, rational testing, silk performer

Procedia PDF Downloads 587
2576 Design Elements: Examining Product Design Attribute That Make Sweets Appear More Delicious to Foreign Patrons

Authors: Kazuko Sakamoto, Keiichiro Kawarabayashi, Yoji Kitani

Abstract:

Japanese sweets are one of the important elements of the Chur Japan strategy. In this research, we investigated what kind of sweets are liked to the Chinese tourist. What is generally eaten is influenced by culture, a sense of values, and business practice. Therefore, what was adapted there is sold. However, when traveling, what its country does not have is called for. Then, how far should we take in Chinese people's taste in a design? This time, the design attribute (a color and a form) which leads to sweets "being delicious" was clarified by rough aggregate theory.As a result, the difference in the taste of Chinese people and Japanese people became clear.

Keywords: design attribute, international comparison, taste by appearance, design attribute

Procedia PDF Downloads 405
2575 Determining a Sustainability Business Model Using Materiality Matrices in an Electricity Bus Factory

Authors: Ozcan Yavas, Berrak Erol Nalbur, Sermin Gunarslan

Abstract:

A materiality matrix is a tool that organizations use to prioritize their activities and adapt to the increasing sustainability requirements in recent years. For the materiality index to move from business models to the sustainability business model stage, it must be done with all partners in the raw material, supply, production, product, and end-of-life product stages. Within the scope of this study, the Materiality Matrix was used to transform the business model into a sustainability business model and to create a sustainability roadmap in a factory producing electric buses. This matrix determines the necessary roadmap for all stakeholders to participate in the process, especially in sectors that produce sustainable products, such as the electric vehicle sector, and to act together with the cradle-to-cradle approach of sustainability roadmaps. Global Reporting Initiative analysis was used in the study conducted with 1150 stakeholders within the scope of the study, and 43 questions were asked to the stakeholders under the main headings of 'Legal Compliance Level,' 'Environmental Strategies,' 'Risk Management Activities,' 'Impact of Sustainability Activities on Products and Services,' 'Corporate Culture,' 'Responsible and Profitable Business Model Practices' and 'Achievements in Leading the Sector' and Economic, Governance, Environment, Social and Other. The results of the study aimed to include five 1st priority issues and four 2nd priority issues in the sustainability strategies of the organization in the short and medium term. When the studies carried out in the short term are evaluated in terms of Sustainability and Environmental Risk Management, it is seen that the studies are still limited to the level of legal legislation (60%) and individual studies in line with the strategies (20%). At the same time, the stakeholders expect the company to integrate sustainability activities into its business model within five years (35%) and to carry out projects to become the first company that comes to mind with its success leading the sector (20%). Another result obtained within the study's scope is identifying barriers to implementation. It is seen that the most critical obstacles identified by stakeholders with climate change and environmental impacts are financial deficiency and lack of infrastructure in the dissemination of sustainable products. These studies are critical for transitioning to sustainable business models for the electric vehicle sector to achieve the EU Green Deal and CBAM targets.

Keywords: sustainability business model, materiality matrix, electricity bus, carbon neutrality, sustainability management

Procedia PDF Downloads 32
2574 The Emotions in Consumers’ Decision Making: Review of Empirical Studies

Authors: Mikel Alonso López

Abstract:

This paper explores, in depth, the idea that emotions are present in all consumer decision making processes, meaning that purchase decisions have never been purely cognitive or as they traditionally have been defined, rational. Human beings, in all kinds of decisions, has "always" used neural systems related to emotions along with neural systems related to cognition, regardless of the type of purchase or the product or service in question. Therefore, all purchase decisions are, at the same time, cognitive and emotional. This paper presents an analysis of the main contributions of researchers in this regard.

Keywords: emotions, decision making, consumer behaviour, emotional behaviour

Procedia PDF Downloads 372
2573 Investigation of the GFR2400 Reactivity Control System

Authors: Ján Haščík, Štefan Čerba, Jakub Lüley, Branislav Vrban

Abstract:

The presented paper is related to the design methods and neutronic characterization of the reactivity control system in the large power unit of Generation IV Gas cooled Fast Reactor – GFR2400. The reactor core is based on carbide pin fuel type with the application of refractory metallic liners used to enhance the fission product retention of the SiC cladding. The heterogeneous design optimization of control rod is presented and the results of rods worth and their interferences in a core are evaluated. In addition, the idea of reflector removal as an additive reactivity management option is investigated and briefly described.

Keywords: control rods design, GFR2400, hot spot, movable reflector, reactivity

Procedia PDF Downloads 422
2572 Portrayal of Women in Television Advertisement

Authors: Priya Sarah Vijoy

Abstract:

The aim of this study is to analyze the Portrayal of women in Television Advertisements. This research study is conducted to analyze how women are portrayed in Television Advertisements. Advertising dates back to several hundreds of years. Right from the beginning, the seller wanted his goods to be sold and he used various techniques for achieving his objective. Advertisements have consistently confined women to traditional mother, home, or beauty/sex-oriented roles that are not representative of women’s diversity. Currently, in our society the television stereotyping of woman is the dominating forces in the media that degrade women and limit their representation. Thus the study analyzes how women are portrayed in Television advertisements and find whether roles of women in Television Advertisement are related to the product or not.

Keywords: advertising, stereotyping, television, women

Procedia PDF Downloads 414
2571 Horizontal Cooperative Game Theory in Hotel Revenue Management

Authors: Ririh Rahma Ratinghayu, Jayu Pramudya, Nur Aini Masruroh, Shi-Woei Lin

Abstract:

This research studies pricing strategy in cooperative setting of hotel duopoly selling perishable product under fixed capacity constraint by using the perspective of managers. In hotel revenue management, competitor’s average room rate and occupancy rate should be taken into manager’s consideration in determining pricing strategy to generate optimum revenue. This information is not provided by business intelligence or available in competitor’s website. Thus, Information Sharing (IS) among players might result in improved performance of pricing strategy. IS is widely adopted in the logistics industry, but IS within hospitality industry has not been well-studied. This research put IS as one of cooperative game schemes, besides Mutual Price Setting (MPS) scheme. In off-peak season, hotel manager arranges pricing strategy to offer promotion package and various kinds of discounts up to 60% of full-price to attract customers. Competitor selling homogenous product will react the same, then triggers a price war. Price war which generates lower revenue may be avoided by creating collaboration in pricing strategy to optimize payoff for both players. In MPS cooperative game, players collaborate to set a room rate applied for both players. Cooperative game may avoid unfavorable players’ payoff caused by price war. Researches on horizontal cooperative game in logistics show better performance and payoff for the players, however, horizontal cooperative game in hotel revenue management has not been demonstrated. This paper aims to develop hotel revenue management models under duopoly cooperative schemes (IS & MPS), which are compared to models under non-cooperative scheme too. Each scheme has five models, Capacity Allocation Model; Demand Model; Revenue Model; Optimal Price Model; and Equilibrium Price Model. Capacity Allocation Model and Demand Model employs self-hotel and competitor’s full and discount price as predictors under non-linear relation. Optimal price is obtained by assuming revenue maximization motive. Equilibrium price is observed by interacting self-hotel’s and competitor’s optimal price under reaction equation. Equilibrium is analyzed using game theory approach. The sequence applies for three schemes. MPS Scheme differently aims to optimize total players’ payoff. The case study in which theoretical models are applied observes two hotels offering homogenous product in Indonesia during a year. The Capacity Allocation, Demand, and Revenue Models are built using multiple regression and statistically tested for validation. Case study data confirms that price behaves within demand model in a non-linear manner. IS Models can represent the actual demand and revenue data better than Non-IS Models. Furthermore, IS enables hotels to earn significantly higher revenue. Thus, duopoly hotel players in general, might have reasonable incentives to share information horizontally. During off-peak season, MPS Models are able to predict the optimal equal price for both hotels. However, Nash equilibrium may not always exist depending on actual payoff of adhering or betraying mutual agreement. To optimize performance, horizontal cooperative game may be chosen over non-cooperative game. Mathematical models can be used to detect collusion among business players. Empirical testing can be used as policy input for market regulator in preventing unethical business practices potentially harming society welfare.

Keywords: horizontal cooperative game theory, hotel revenue management, information sharing, mutual price setting

Procedia PDF Downloads 269
2570 Risk of Androgen Deprivation Therapy-Induced Metabolic Syndrome-Related Complications for Prostate Cancer in Taiwan

Authors: Olivia Rachel Hwang, Yu-Hsuan Joni Shao

Abstract:

Androgen Deprivation Therapy (ADT) has been a primary treatment for patients with advanced prostate cancer. However, it is associated with numerous adverse effects related to Metabolic Syndrome (MetS), including hypertension, diabetes, hyperlipidaemia, heart diseases and ischemic strokes. However, complications associated with ADT for prostate cancer in Taiwan is not well documented. The purpose of this study is to utilize the data from NHIRD (National Health Insurance Research Database) to examine the trajectory changes of MetS-related complications in men receiving ADT. The risks of developing complications after the treatment were analyzed with multivariate Cox regression model. Covariates including in the model were the complications before the diagnosis of prostate cancer, the age, and the year at cancer diagnosis. A total number of 17268 patients from 1997-2013 were included in this study. The exclusion criteria were patients with any other types of cancer or with the existing MetS-related complications. Changes in MetS-related complications were observed among two treatment groups: 1) ADT (n=9042), and 2) non-ADT (n=8226). The ADT group appeared to have an increased risk in hypertension (hazard ratio 1.08, 95% confidence interval 1.03-1.13, P = 0.001) and hyperlipidemia (hazard ratio 1.09, 95% confidence interval 1.01-1.17, P = 0.02) when compared with non-ADT group in the multivariate Cox regression analyses. In the risk of diabetes, heart diseases, and ischemic strokes, ADT group appeared to have an increased but not significant hazard ratio. In conclusion, ADT was associated with an increased risk in hypertension and hyperlipidemia in prostate cancer patients in Taiwan. The risk of hypertension and hyperlipidemia should be considered while deciding on ADT, especially those with the known history of hypertension and hyperlipidemia.

Keywords: androgen deprivation therapy, ADT, complications, metabolic syndrome, MetS, prostate cancer

Procedia PDF Downloads 271
2569 Soy Candle vs Paraffin Candle

Authors: Otana A. Jakpor

Abstract:

Air pollution is without a doubt one of the gravest environmental threats the world is facing today in terms of its sheer toll on human lives. Each year an estimated 70,000 Americans lose their lives to air pollution -- a number equal to deaths from both breast and prostate cancer combined. Since Americans spend nearly 90% of their time indoors, more research is needed on indoor air pollution and common exposures such as candles. Paraffin wax is a by-product of petroleum, and similarities have been observed between fine particulate emissions from paraffin candles and diesel exhaust. The purpose of this study is to determine whether or not paraffin candles are a major potential source of indoor air pollution. Furthermore, this study aims to determine whether or not soy candles are a safer, cleaner alternative to paraffin candles.

Keywords: soy candle, soy, paraffin candle, paraffin

Procedia PDF Downloads 237
2568 The Effect of Bunch in the Branch on Vegetative Characteristics of Pistacia vera

Authors: Alireza Sohrabi, Hamid Mohammadi

Abstract:

The pistachio fruit is a strategic product in Iran. One of the problems caused the reduction of pistachio proceeds is related to biennial- bearing or alternative bearing. Biennial- bearing is very important and is happened because of the fallen female bloom buds in vintage year. This test was done according to random blocks of 6 orchards in the type of Ahmad Aghaie with 4 iterations. Vegetative properties of branch are investigated. The results are shown that if the bunch numbers are increased, the possibility of falling is increased in bloom buds. The least possibility of falling of bloom buds is specified in trimming of one bunch and has significant difference with other trimming.

Keywords: alternate bearing, pistachio, cluster, bud

Procedia PDF Downloads 415
2567 Evaluation of the Irritation Potential of Three Topical Formulations of Minoxidil 5% + Finasteride 0.1% Using Patch Test

Authors: Joshi Rajiv, Shah Priyank, Thavkar Amit, Rohira Poonam, Mehta Suyog

Abstract:

Topical formulation containing minoxidil and finasteride helps hair growth in the treatment of male androgenetic alopecia. The objective of this study is to compare the irritation potential of three conventional formulations of minoxidil 5% + finasteride 0.1% topical solution of in human patch test. The study was a single centre, double blind, non-randomized controlled study in 53 healthy adult Indian subjects. Occlusive patch test for 24 hours was performed with three formulations of minoxidil 5% + finasteride 0.1% topical solution. Products tested included aqueous based minoxidil 5% + finasteride 0.1% (AnasureTM-F, Sun Pharma, India – Brand A), lipid based minoxidil 5% + finasteride 0.1% (Brand B) and aqueous based minoxidil 5% + finasteride 0.1% (Brand C). Isotonic saline 0.9% and 1% w/w sodium lauryl sulphate were included as negative control and positive control respectively. Patches were applied and removed after 24 hours. The skin reaction was assessed and clinically scored 24 hours after the removal of the patches under constant artificial daylight source using the Draize scale (0-4 points scale for erythema/dryness//wrinkles and for oedema). Follow-up was scheduled after one week to confirm recovery for any reaction. A combined mean score up to 2.0/8.0 indicates a product is “non-irritant” and a score between 2.0/8.0 and 4.0/8.0 indicates “mildly irritant” and a score above 4.0/8.0 indicates “irritant”. The procedure of the patch test followed the principles outlined by the Bureau of Indian Standards (BIS) (IS 4011:2018; Methods of Test for safety evaluation of Cosmetics-3rd revision). Fifty three subjects with mean age 31.9 years (25 males and 28 females) participated in the study. The combined mean score ± standard deviation were: 0.06 ± 0.23 (Brand A), 0.81 ± 0.59 (Brand B), 0.38 ± 0.49 (Brand C), 2.92 ± 0.47 (positive control) and 0.0 ± 0.0 (Negative control). This means the score of Brand A (Sun Pharma product) was significantly lower than that of Brand B (p=0.001) and that of Brand C (p=0.001). The combined mean erythema score ± standard deviation were: 0.06 ± 0.23 (Brand A), 0.81 ± 0.59 (Brand B), 0.38 ± 0.49 (Brand C), 2.09 ± 0.4 (Positive control) and 0.0 ± 0.0 (Negative control). The mean erythema score of Brand A was significantly lower than Brand B (p=0.001) and that of Brand C (p=0.001). Any reaction observed at 24hours after patch removal subsided in a week. All the three topical formulations of minoxidil 5% + finasteride 0.1% were non-irritant. Brand A of minoxidil 5% + finasteride 0.1% (Sun Pharma) was found to be the least irritant than Brand B and Brand C based on the combined mean score and mean erythema score in the human patch test as per the BIS, IS 4011:2018

Keywords: erythema, finasteride, irritation, minoxidil, patch test

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2566 Conceptual Understanding for the Adoption of Energy Assessment Methods in the United Arab Emirates Built Environment

Authors: Amna I. Shibeika, Batoul Y. Hittini, Tasneem B. Abd Bakri

Abstract:

Regulation and integration of public policy, economy, insurance industry, education, and construction stakeholders are the main contributors to achieve sustainable development. Building environmental assessment methods were introduced in the field to address issues such as global warming and conservation of natural resources. In the UAE, Estidama framework with its associated Pearl Building Rating System (PBRS) has been introduced in 2010 to address and spread sustainability practices within the country’s fast-growing built environment. Based on literature review of relevant studies investigating different project characteristics that influence sustainability outcomes, this paper presents a conceptual framework for understanding the adoption of PBRS in UAE projects. The framework also draws on Diffusion of Innovations theory to address the questions of how the assessment method is chosen in the first place and what is the impact of PBRS on the multi-disciplinary design and construction processes. The study highlights the mandatory nature of the adoption of PBRS for government buildings as well as imbedding Estidama principles within Abu Dhabi building codes as key factors for raising awareness about sustainable practices. Moreover, several project-related elements are addressed to understand their relationship with the adoption process, including project team collaboration; communication and coordination; levels of commitment and engagement; and the involvement of key actors as sustainability champions. This conceptualization of the adoption of PBRS in UAE projects contributes to the growing literature on the adoption of energy assessment tools and addresses the UAE vision is to be at the forefront of innovative sustainable development by 2021.

Keywords: adoption, building assessment, design management, innovation, sustainability

Procedia PDF Downloads 131
2565 The Opportunities and Challenges of Adopting International Financial Reporting Standards in Saudi Capital Market

Authors: Abdullah Almulhim

Abstract:

The International Accounting Standards Board (IASB) was established in 2001 to develop International Financial Reporting Standards (IFRS) that bring transparency, accountability, and efficiency to financial markets around the world. In addition, the IFRS provide a unified accounting language, which is especially important in the era of globalization. However, the establishment of a single set of high-quality international accounting standards is a matter of growing importance, as participants in the increasingly integrated world capital market demand comparability and transparency of financial reporting worldwide. Saudi Arabia became the 149th member of the World Trade Organization (WTO) on 11 December 2005, which has increased the need to convert to IFRS. Currently, the Saudi Arabian Monetary Authority (SAMA) requires banks and insurance companies in Saudi Arabia to report under IFRS Standards. However, until the end of 2016, SOCPA standards were applied to all other companies, listed and unlisted. From 2017, listed Saudi companies would be required to report under IFRS Standards as adopted by SOCPA effective 2017. This paper is to investigate the expected benefits gained and highlight the challenges faced by adopting IFRS by the listed companies in the Saudi Stock Exchange. Questionnaires were used as the main method of data collection. They were distributed to listed companies in the Saudi Capital Market. Data obtained through the questionnaires have been imported into SPSS statistical software for analysis. The expected results of this study will show the benefits of adopting IFRS by Saudi Listed Companies. However, this study will investigate the challenges faced by adopting IFRS by the listed companies in the Saudi Arabian Stock Market. Findings will be discussed later upon completion of initial analysis.

Keywords: challenges, IAS, IFRS, opportunities, Saudi, SOCPA

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2564 Hot Forging Process Simulation of Outer Tie Rod to Reduce Forming Load

Authors: Kyo Jin An, Bukyo Seo, Young-Chul Park

Abstract:

The current trend in car market is increase of parts of automobile and weight in vehicle. It comes from improvement of vehicle performance. Outer tie rod is a part of component of steering system and it is lighter than the others. But, weight lightening is still required for improvement of car mileage. So, we have presented a model of aluminized outer tie rod, but the process of fabrication has to be checked to manufacture the product. Therefore, we have anticipated forming load, die stress and abrasion to use the program of forging interpretation in the part of hot forging process of outer tie rod in this study. Also, we have implemented the experiments design to use the table of orthogonal arrays to reduce the forming load.

Keywords: forming load, hot forging, orthogonal array, outer tie rod (OTR), multi–step forging

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2563 Mechanical Study Material on Low Environmental Impact

Authors: Fetta Ait Ahsene-Aissat, Messaoud Hachemi, Yacine Moussaoui, Yacine Kerchiche

Abstract:

Our study focuses on two important aspects, environmental by using a sub industrial product (FAD), by economic incorporation as an addition to Portland cement, thus improving resistance to compression and bending with different proportions ADF % up to 40 additions. We studied the effect of different substitutions 0%, 10%, 20%, and 40% of additions to the mechanical effect of the mortar. We obtained a compressive strength of 61 MPa at 90 days for the cement mixture porthland FAD-40% against a resistance of 58MPa for porthland cement without addition. The flexural strength also showed a marked increase in the cement substitution. We also monitored the behavior of the mixed ash-cement by XRD analysis and scanning electron microscopy (SEM).

Keywords: FAD, porthland, flexural strength, compressive strength, DRX

Procedia PDF Downloads 335
2562 The Composting Process from a Waste Management Method to a Remediation Procedure

Authors: G. Petruzzelli, F. Pedron, M. Grifoni, F. Gorini, I. Rosellini, B. Pezzarossa

Abstract:

Composting is a controlled technology to enhance the natural aerobic process of organic wastes degradation. The resulting product is a humified material that is principally recyclable for agricultural purpose. The composting process is one of the most important tools for waste management, by the European Community legislation. In recent years composting has been increasingly used as a remediation technology to remove biodegradable contaminants from soil, and to modulate heavy metals bioavailability in phytoremediation strategies. An optimization in the recovery of resources from wastes through composting could enhance soil fertility and promote its use in the remediation biotechnologies of contaminated soils.

Keywords: agriculture, biopile, compost, soil clean-up, waste recycling

Procedia PDF Downloads 298
2561 The Effect of a New Reimbursement Policy for Discharge Planning Service

Authors: Chueh Chi-An, Chan Hui-Ya

Abstract:

Background and Aim: National Health Insurance (NHI) Administration released a new reimbursement policy for hospital patients who received a superior discharge plan on April 1, 2016. Each case could be claimed 1,500 points for fee-of service with related documents. The policy is considered a solution to help reducing the crowding in the emergency department, the length of stay of hospital, unplanned readmission rate and unplanned ER visit. This study aim is to explore the effect of the new reimbursement policy for discharge planning service in a medical center. Methods: The discharge team explained to general wards the new policy and encouraged early assessment, communication and connecting to community care for patients. They stated the benefit from the policy and asked documenting for reimbursement claiming from April to May 2016. The imbursement fee of NHI declaration from June 2015 to October 2017 was collected. The indicators included hospital occupancy rate, hospital bed turnover rate, long-term hospitalization rate, and patients’ satisfaction were analyzed after the policy implemented. Results: The results showed that the amount of service declaration was increasing from 2 cases in February 2016 to 110 cases in October 2017, the application rate was increasing from 0.029% to 1.576% of all inpatient cases, and the average payment from NHI was around 148,500 NT dollars per month in 2017. There are no significant differences in the indicators among hospital occupancy rate, hospital bed turnover rate, long-term hospitalization rate, and patients’ satisfaction. Conclusion: To provide a good discharge plan require a specialized case manager, the new reimbursement policy is too complicated and the total fee-of-service hospital could claim is too limited to hiring one. The results suggest more strategies combine with the new reimbursement policy will be needed.

Keywords: discharge planning, reimbursement, unplanned ER visit, readmission rate

Procedia PDF Downloads 157