Search results for: asset allocation

Authors: Wook-Won Kim, Je-Seok Shin, Jin-O Kim

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As the penetration of Energy Storage System (ESS) increases in the power system due to higher performance and lower cost than ever, ESS is expanding its role to the ancillary service as well as the storage of extra energy from the intermittent renewable energy resources. For multi-ESS with different capacity and SOC level each other, it is required to make the optimal schedule of SOC level use the multi-ESS effectively. This paper proposes the energy allocation method for the multiple battery ESS with reliability constraint, in order to make the ESS discharge the required energy as long as possible. A simple but effective method is proposed in this paper, to satisfy the power for the spinning reserve requirement while improving the system reliability. Modelling of ESS is also proposed, and reliability is evaluated by using the combined reliability model which includes the proposed ESS model and conventional generation one. In the case study, it can be observed that the required power is distributed to each ESS adequately and accordingly, the SOC is scheduled to improve the reliability indices such as Loss of Load Probability (LOLP) and Loss of Load Expectation (LOLE).

Keywords: multiple energy storage system (MESS), energy allocation method, SOC schedule, reliability constraints

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Authors: Munnujahan Ara

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In this paper, we investigate the effect of friendly jamming power allocation strategies on the achievable average secrecy rate over a bank of parallel fading wiretap channels. We investigate the achievable average secrecy rate in parallel fading wiretap channels subject to Rayleigh and Rician fading. The achievable average secrecy rate, due to the presence of a line-of-sight component in the jammer channel is also evaluated. Moreover, we study the detrimental effect of correlation across the parallel sub-channels, and evaluate the corresponding decrease in the achievable average secrecy rate for the various fading configurations. We also investigate the tradeoff between the transmission power and the jamming power for a fixed total power budget. Our results, which are applicable to current orthogonal frequency division multiplexing (OFDM) communications systems, shed further light on the achievable average secrecy rates over a bank of parallel fading channels in the presence of friendly jammers.

Keywords: fading parallel channels, wire-tap channel, OFDM, secrecy capacity, power allocation

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Authors: Nermine A. Harraz, Aliaa Abouali

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The retail stores put up for sale multiple items while the spaces in the backroom and display areas constitute a scarce resource. Availability, volume, and location of the product displayed in the showroom influence the customer’s demand. Managing these operations individually will result in sub-optimal overall retail store’s profit; therefore, a non-linear integer programming model (NLIP) is developed to determine the inventory replenishment and shelf space allocation decisions that together maximize the retailer’s profit under shelf space and backroom storage constraints taking into consideration that the demand rate is positively dependent on the amount and location of items displayed in the showroom. The developed model is solved using LINGO® software. The NLIP model is implemented in a real world case study in a large retail outlet providing a large variety of products. The proposed model is validated and shows logical results when using the experimental data collected from the market.

Keywords: retailing management, inventory replenishment, shelf space allocation, showroom, backroom

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Authors: Avantika Vats, Kushal Thakur

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This paper displays the point at issue, improvement, and utilization of a Monarch Butterfly Optimization (MBO) rather than a Genetic Algorithm (GA) in cognitive radio for the channel portion. This approach offers a satisfactory approach to get the accessible range of both the users, i.e., primary users (PUs) and secondary users (SUs). The proposed enhancement procedure depends on a nature-inspired metaheuristic algorithm. In MBO, all the monarch butterfly individuals are located in two distinct lands, viz. Southern Canada and the northern USA (land 1), and Mexico (Land 2). The positions of the monarch butterflies are modernizing in two ways. At first, the offsprings are generated (position updating) by the migration operator and can be adjusted by the migration ratio. It is trailed by tuning the positions for different butterflies by the methods for the butterfly adjusting operator. To keep the population unaltered and minimize fitness evaluations, the aggregate of the recently produced butterflies in these two ways stays equivalent to the first population. The outcomes obviously display the capacity of the MBO technique towards finding the upgraded work values on issues regarding the genetic algorithm.

Keywords: cognitive radio, channel allocation, monarch butterfly optimization, evolutionary, computation

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Authors: E. Feizi Ashtiani, S. Jamshidi, M.H Niksokhan, A. Feizi Ashtiani

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Waste load allocation (WLA) policies may use multi-objective optimization methods to find the most appropriate and sustainable solutions. These usually intend to simultaneously minimize two criteria, total abatement costs (TC) and environmental violations (EV). If other criteria, such as inequity, need for minimization as well, it requires introducing more binary optimizations through different scenarios. In order to reduce the calculation steps, this study presents value index as an innovative decision making approach. Since the value index contains both the environmental violation and treatment costs, it can be maximized simultaneously with the equity index. It implies that the definition of different scenarios for environmental violations is no longer required. Furthermore, the solution is not necessarily the point with minimized total costs or environmental violations. This idea is testified for Haraz River, in north of Iran. Here, the dissolved oxygen (DO) level of river is simulated by Streeter-Phelps equation in MATLAB software. The WLA is determined for fish farms using multi-objective particle swarm optimization (MOPSO) in two scenarios. At first, the trade-off curves of TC-EV and TC-Inequity are plotted separately as the conventional approach. In the second, the Value-Equity curve is derived. The comparative results show that the solutions are in a similar range of inequity with lower total costs. This is due to the freedom of environmental violation attained in value index. As a result, the conventional approach can well be replaced by the value index particularly for problems optimizing these objectives. This reduces the process to achieve the best solutions and may find better classification for scenario definition. It is also concluded that decision makers are better to focus on value index and weighting its contents to find the most sustainable alternatives based on their requirements.

Keywords: waste load allocation (WLA), value index, multi objective particle swarm optimization (MOPSO), Haraz River, equity

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Authors: Inayat Ur Rehman, Georgia Sakellari

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Cloud computing has evolved into a vital technology for businesses, offering scalability, flexibility, and cost-effectiveness. However, maintaining high availability and optimal performance in the cloud is crucial for reliable services. This paper explores the significance of cloud monitoring and performance optimization in sustaining the high availability of cloud-based systems. It discusses diverse monitoring tools, techniques, and best practices for continually assessing the health and performance of cloud resources. The paper also delves into performance optimization strategies, including resource allocation, load balancing, and auto-scaling, to ensure efficient resource utilization and responsiveness. Addressing potential challenges in cloud monitoring and optimization, the paper offers insights into data security and privacy considerations. Through this thorough analysis, the paper aims to underscore the importance of cloud monitoring and performance optimization for ensuring a seamless and highly available cloud computing environment.

Keywords: cloud computing, cloud monitoring, performance optimization, high availability, scalability, resource allocation, load balancing, auto-scaling, data security, data privacy

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Authors: Mauricio Becerra Fernández, Olga Rosana Romero Quiroga, Elsa Cristina González La Rotta

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The logistics facilities design and construction is one of the strategic decisions that critically affects the performance of the company, from the economic perspective and relationship with customers. The case study company is the Colombian logistic sector leader, with over 60 years of experience, with sales of about one hundred twenty million dollars at the end of 2014. The preliminary design for the warehouse layout and operation includes a customer that provides approximately 17% of the profits of the company, considering the possibility of moving two forklifts in the warehouse halls. Some changes were not consider in previous stages of design, operations required forklift with different characteristics, whose size, do not allow the circulation of more than a forklift at a time. Therefore, it is necessary to assess the impact of this restriction on the warehouse operation, so decision makers implement actions to achieve efficient operation. The problem is addressed by recognizing logistics processes, which develop in a warehouse, collection of processes information behavior, the simulation of the current situation using ProModel software, model validation, making adjustments required, experiments design, conclusions and recommendations for the company.

Keywords: design, discrete events simulation, forklift allocation, logistics facilities, warehouse

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Authors: Elkington S. Mnguni

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Water and sanitation services in South Africa are characterized by both achievements and challenges. After the end of apartheid in 1994 the newly elected government faced the challenge of eradicating backlogs with respect to access to basic services, including water and sanitation. Capital investment made in the development of new water and sanitation infrastructure to provide basic services to previously disadvantaged communities has grown, to a certain extent, at the expense of investment in the operation and maintenance of new and existing infrastructure. Challenges resulting from aging infrastructure and poor plant performance highlight the need for investing in the maintenance, rehabilitation, and replacement of existing infrastructure to optimize the return on investment. Advanced water infrastructure asset management (IAM) is key to achieving adequate levels of service, particularly with regard to reliable and high quality drinking water supply, prevention of urban flooding, efficient use of natural resources and prevention of pollution and associated risks. Against this backdrop, this paper presents an appraisal of water and sanitation IAM systems in South Africa’s three utilities, being metropolitan cities in the Gauteng Province. About a quarter of the national population lives in the three rapidly urbanizing cities of Johannesburg, Ekurhuleni and Tshwane, located in a semi-arid region. A literature review has been done and field visits to some of the utility facilities are being conducted. Semi-structured interviews will be conducted with the three utilities. The following critical factors are being analysed in terms of compliance with the national Water Services IAM Strategy (2011) and other applicable legislation: asset registers; capacity of assets; current and predicted demand; funding availability / budget allocations; plans: operation & maintenance, renewal & replacement, and risk management; no-drop status (non-revenue water levels); blue drop status (water quality); green drop status (effluent quality); and skills availability. Some of the key challenges identified in the literature review include: funding constraints, Skills shortage, and wastewater treatment plants operating beyond their design capacities. These challenges will be verified during field visits and research interviews. Gaps between literature and practice will be identified and relevant recommendations made if necessary. The objective of this study is to contribute to the resolution of the challenges brought about by the backlogs in the operation and maintenance of water and sanitation assets in the country in general, and in the three cities in particular, thus improving the sustainability thereof.

Keywords: asset management, backlogs, levels of service, sustainability, water and sanitation infrastructure

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Authors: Petra Palic, Maruska Vizek

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We provide an in-depth analysis of interdependence of asset returns and volatilities in developed and developing countries. The analysis is split into three parts. In the first part, we use multivariate GARCH model in order to provide stylized facts on cross-market volatility spillovers. In the second part, we use a generalized vector autoregressive methodology developed by Diebold and Yilmaz (2009) in order to estimate separate measures of return spillovers and volatility spillovers among sovereign bond, equity, foreign exchange and commodity markets. In particular, our analysis is focused on cross-market return, and volatility spillovers in 19 developed and developing countries. In order to estimate named spillovers, we use daily data from 2008 to 2017. In the third part of the analysis, we use a generalized vector autoregressive framework in order to estimate total and directional volatility spillovers. We use the same daily data span for one developed and one developing country in order to characterize daily volatility spillovers across stock, bond, foreign exchange and commodities markets.

Keywords: cross-market spillovers, sovereign bond markets, equity markets, value at risk (VAR)

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Authors: Ing-Jen Hung, Tzu-Chien Wang

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Nowadays, customers can interact with firms through miscellaneous online ads on different channels easily. In other words, customer now has innumerable options and limitless time to accomplish their commercial activities with firms, individualizing their own online customer journey. This kind of convenience emphasizes the importance of online advertisement allocation on different channels. Therefore, profound understanding of customer behavior can make considerable benefit from optimizing fund allocation on diverse ad channels. To achieve this objective, multiple firms utilize numerical methodology to create data-driven advertisement policy. In our research, we aim to exploit online customer click data to discover the correlations between each channel and their sequential relations. We use LSTM to deal with sequential property of our data and compare its accuracy with other non-sequential methods, such as CART decision tree, logistic regression, etc. Besides, we also classify our customers into several groups by their behavioral characteristics to perceive the differences between all groups as customer portrait. As a result, we discover distinct customer journey under each customer portrait. Our article provides some insights into marketing research and can help firm to formulate online advertising criteria.

Keywords: LSTM, customer journey, marketing, channel ads

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Authors: Sandra T. Matarneh, Mark Danso-Amoako, Salam Al-Bizri, Mark Gaterell

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Today’s facilities are ever more sophisticated and the need for available and reliable information for operation and maintenance activities is vital. The key challenge for facilities managers is to have real-time accurate and complete information to perform their day-to-day activities and to provide their senior management with accurate information for decision-making process. Currently, there are various technology platforms, data repositories, or database systems such as Computer-Aided Facility Management (CAFM) that are used for these purposes in different facilities. In most current practices, the data is extracted from paper construction documents and is re-entered manually in one of these computerized information systems. Construction Operations Building information exchange (COBie), is a non-proprietary data format that contains the asset non-geometric data which was captured and collected during the design and construction phases for owners and facility managers use. Recently software vendors developed add-in applications to generate COBie spreadsheet automatically. However, most of these add-in applications are capable of generating a limited amount of COBie data, in which considerable time is still required to enter the remaining data manually to complete the COBie spreadsheet. Some of the data which cannot be generated by these COBie add-ins is essential for facilities manager’s day-to-day activities such as job sheet which includes preventive maintenance schedules. To facilitate a seamless data transfer between BIM models and facilities management systems, we developed a framework that enables automated data generation using the data extracted directly from BIM models to external web database, and then enabling different stakeholders to access to the external web database to enter the required asset data directly to generate a rich COBie spreadsheet that contains most of the required asset data for efficient facilities management operations. The proposed framework is a part of ongoing research and will be demonstrated and validated on a typical university building. Moreover, the proposed framework supplements the existing body of knowledge in facilities management domain by providing a novel framework that facilitates seamless data transfer between BIM models and facilities management systems.

Keywords: building information modeling, BIM, facilities management systems, interoperability, information management

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Authors: Danjuma Bawa

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This paper aimed at exploring the capabilities of Location-Allocation model in complementing the strides of the existing physical planning models in the location and distribution of facilities for regional consumption. The paper was designed to provide a blueprint to the Nigerian government and other donor agencies especially the Fertilizer Distribution Initiative (FDI) by the federal government for the revitalization of the terrorism ravaged regions. Theoretical underpinnings of central place theory related to spatial distribution, interrelationships, and threshold prerequisites were reviewed. The study showcased how Location-Allocation Model (L-AM) alongside Central Place Theory (CPT) was applied in Geographic Information System (GIS) environment to; map and analyze the spatial distribution of settlements; exploit their physical and economic interrelationships, and to explore their hierarchical and opportunistic influences. The study was purely spatial qualitative research which largely used secondary data such as; spatial location and distribution of settlements, population figures of settlements, network of roads linking them and other landform features. These were sourced from government ministries and open source consortium. GIS was used as a tool for processing and analyzing such spatial features within the dictum of CPT and L-AM to produce a comprehensive spatial digital plan for equitable and judicious location and distribution of fertilizer deports in the study area in an optimal way. Population threshold was used as yardstick for selecting suitable settlements that could stand as service centers to other hinterlands; this was accomplished using the query syntax in ArcMapTM. ArcGISTM’ network analyst was used in conducting location-allocation analysis for apportioning of groups of settlements around such service centers within a given threshold distance. Most of the techniques and models ever used by utility planners have been centered on straight distance to settlements using Euclidean distances. Such models neglect impedance cutoffs and the routing capabilities of networks. CPT and L-AM take into consideration both the influential characteristics of settlements and their routing connectivity. The study was undertaken in two terrorism ravaged Local Government Areas of Adamawa state. Four (4) existing depots in the study area were identified. 20 more depots in 20 villages were proposed using suitability analysis. Out of the 300 settlements mapped in the study area about 280 of such settlements where optimally grouped and allocated to the selected service centers respectfully within 2km impedance cutoff. This study complements the giant strides by the federal government of Nigeria by providing a blueprint for ensuring proper distribution of these public goods in the spirit of bringing succor to these terrorism ravaged populace. This will ardently at the same time help in boosting agricultural activities thereby lowering food shortage and raising per capita income as espoused by the government.

Keywords: central place theory, GIS, location-allocation, network analysis, urban and regional planning, welfare economics

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Authors: Gabriele Iannotta

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This paper investigates credit cycles by means of an experiment based on a Kiyotaki & Moore (1997) model with heterogeneous expectations. The aim is to examine how a credit squeeze caused by high lender-level risk perceptions affects the real prices of a collateralised asset, with a special focus on the macroeconomic implications of rising price volatility in terms of total welfare and the number of bankruptcies that occur. To do that, a learning-to-forecast experiment (LtFE) has been run where participants are asked to predict the future price of land and then rewarded based on the accuracy of their forecasts. The setting includes one lender and five borrowers in each of the twelve sessions split between six control groups (G1) and six treatment groups (G2). The only difference is that while in G1 the lender always satisfies borrowers’ loan demand (bankruptcies permitting), in G2 he/she closes the entire credit market in case three or more bankruptcies occur in the previous round. Experimental results show that negative risk-driven supply shocks amplify the volatility of collateral prices. This uncertainty worsens the agents’ ability to predict the future value of land and, as a consequence, the number of defaults increases and the total welfare deteriorates.

Keywords: Behavioural Macroeconomics, Credit Cycle, Experimental Economics, Heterogeneous Expectations, Learning-to-Forecast Experiment

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Authors: Sun Li-Ping, Zhu Jian-Xun, Liu Sheng-Nan

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In order to study the performance of dynamic positioning system during S-lay operations, dynamic positioning system is simulated with the hull-stinger-pipe coupling effect. The roller of stinger is simulated by the generalized elastic contact theory. The stinger is composed of Morrison members. Force on pipe is calculated by lumped mass method. Time domain of fully coupled barge model is analyzed combining with PID controller, Kalman filter and allocation of thrust using Sequential Quadratic Programming method. It is also analyzed that the effect of hull wave frequency motion on pipe-stinger coupling force and dynamic positioning system. Besides, it is studied that how S-lay operations affect the dynamic positioning accuracy. The simulation results are proved to be available by checking pipe stress with API criterion. The effect of heave and yaw motion cannot be ignored on hull-stinger-pipe coupling force and dynamic positioning system. It is important to decrease the barge’s pitch motion and lay pipe in head sea in order to improve safety of the S-lay installation and dynamic positioning.

Keywords: S-lay operation, dynamic positioning, coupling motion, time domain, allocation of thrust

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Authors: Viktor R. Stoynov, Zlatka V. Valkova-Jarvis

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The intelligent management and optimisation of radio resource technologies will lead to a considerable improvement in the overall performance in Next Generation Networks (NGNs). Carrier Aggregation (CA) technology, also known as Spectrum Aggregation, enables more efficient use of the available spectrum by combining multiple Component Carriers (CCs) in a virtual wideband channel. LTE-A (Long Term Evolution–Advanced) CA technology can combine multiple adjacent or separate CCs in the same band or in different bands. In this way, increased data rates and dynamic load balancing can be achieved, resulting in a more reliable and efficient operation of mobile networks and the enabling of high bandwidth mobile services. In this paper, several distinct CA deployment strategies for the utilisation of spectrum bands are compared in indoor-outdoor scenarios, simulated via the recently-developed Realistic Indoor Environment Generator (RIEG). We analyse the performance of the User Equipment (UE) by integrating the average throughput, the level of fairness of radio resource allocation, and other parameters, into one summative assessment termed a Comparative Factor (CF). In addition, comparison of non-CA and CA indoor mobile networks is carried out under different load conditions: varying numbers and positions of UEs. The experimental results demonstrate that the CA technology can improve network performance, especially in the case of indoor scenarios. Additionally, we show that an increase of carrier frequency does not necessarily lead to improved CF values, due to high wall-penetration losses. The performance of users under bad-channel conditions, often located in the periphery of the cells, can be improved by intelligent CA location. Furthermore, a combination of such a deployment and effective radio resource allocation management with respect to user-fairness plays a crucial role in improving the performance of LTE-A networks.

Keywords: comparative factor, carrier aggregation, indoor mobile network, resource allocation

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Authors: Hana Janáčková

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Housing can be sorted as basic needs of households. Purchase of acceptable ownership housing is important investments for most them. For rental housing households must consider the part of rent expenditure paid in the total household income. For this reason, financial considerations of households in this area depend on the government innervations (public administration) in housing - on housing policy. Market system of housing allocation, whether ownership or tenancy, is based on the fact that housing is a scarce good. The allocation of housing is based on demand and supply. The market system of housing can sometimes have a negative impact on some households, the market is unable to satisfy certain groups of the population that are not able or willing to accept market price. For these reasons, there is a more or less regulation of the market. Regulation is both on the demand and supply side, and the state determines the rules of behaviour for all economic entities of the housing market. This article submits results of analysis of selected regulatory interference of the state in the housing market and assesses their implications deforming the market in the selected region of the Czech Republic. The first part describes tools of supports and the second part discusses deformations and analyses their consequences on the demand side of housing market and on supply side.

Keywords: housing, housing market, microeconomic consequences, deformation

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Authors: Senait G. Worku, Ellen Mangnus

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Inclusive business models which integrates low-income people with companies value chain in a commercially viable way has gained momentum for the perceived potential to contribute to poverty alleviation and food security in developing countries. This article investigates the impact of Community Revenue Enhancement through Technology Extension (CREATE) project of Heineken brewery on smallholder farmers’ wellbeing in Arsi zone Oromia regional state of Ethiopia. CREATE is a Public-Private Partnership (PPP) between Ministry of Foreign Affairs of the Netherlands and Heineken N.V. which source malt barely from smallholder farmers in three zones of Oromia. The study assessed the impact of CREATE on malt barley productivity, food security and new asset purchase in Arsi zone by comparing households that participate in the project with non-participating households using propensity score matching method. The finding indicated that households that participated in the CREATE project had higher malt barley productivity and purchased more new assets than non-participating households. However, there is no significant difference on food security status of participating and non-participating households indicating that the project has a profound impact on asset accumulation than on food security improvement.

Keywords: inclusive business, malt barley, propensity score matching, wellbeing

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Authors: Jerome Nyameh

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The most valuable asset in the existence of organization is the employees and their ability in maintain appreciable level of performance which support the goal of the organization and the ability to do that depend largely on the organizational culture and culture has been considered most currently as the factor that relate positively to organizational excellence and sustainable employee’s performance over the period of time An employee engagement program will not go far without first establishing the organizational culture that is required to support sustainability. This means integrating sustainability into the overall employee’s performance, with clear vision, goals and metrics. It means having strong culture and a collaborative governance structure that has been develop as a ways of doing things in the organization for decision making and resource allocation. It requires a rewards and recognition program to support and reinforce sustainability behaviors. With such a culture in place, organization will be able to develop a strategy that fully engages employees, while fully realizing the benefits of their contributions. The study investigated empirically the role of organizational culture building sustainable employee’s performance using Zenith bank PLC a model where organizational culture will build sustainable employees performance strategy for a lasting actualization of organizational was developed. In order to achieve the research objectives of (i) to assess how organizational culture can build sustainable employee’s performance (ii) to analyze the gap that exists between organizational culture and sustainable employee’s performance in the organization, a survey questionnaires of 20 items was administered to sixty respondents. The findings of this study have practical implications for organizational leaders, managers and employees, and their organizations, particularly commercial banks in Nigeria, besides offering scope for further research in the area of organizational culture and sustainable employee’s performance. It will also show a significance and positive relationship that exist between organizational culture and sustainable employee’s performance, as means of building viable organization with cultural uniqueness and excellence performance in the world of competition.

Keywords: organizational culture, sustainable employee’s performance, organizations, Zenith Bank PLC Nigeria

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Authors: Chung-Nan Lee, Sheng-Wei Chu, You-Chiun Wang

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LTE (Long Term Evolution) employs the eMBMS (evolved Multimedia Broadcast/Multicast Service) protocol to deliver video streams to a multicast group of users. However, it requires all multicast members to receive a video stream in the same transmission rate, which would degrade the overall service quality when some users encounter bad channel conditions. To overcome this problem, this paper provides two efficient resource allocation schemes in such LTE network: The symbol synchronization (S2) scheme assumes that the macro and pico eNodeBs use the same frequency channel to deliver the video stream to all users. It then adopts a multicast transmission index to guarantee the fairness among users. On the other hand, the resource reuse (R2) scheme allows eNodeBs to transmit data on different frequency channels. Then, by introducing the concept of frequency reuse, it can further improve the overall service quality. Extensive simulation results show that the S2 and R2 schemes can respectively improve around 50% of fairness and 14% of video quality as compared with the common maximum throughput method.

Keywords: LTE networks, multicast, resource allocation, layered video

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Authors: Subodh Kumar, Ramkisan Pawar, Gopal D. Belurkar

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This paper describes a study for simple blanking tool. In blanking or piercing operation, punch and die should be concentric for proper cutting. In this study, tolerance analysis method is used to analyze the variation in the press tool assembly. Variation results into the eccentricity in between die and punch due to cumulative tolerance of parts used in assembly. 1D variation analysis were performed by CREO parametric computer aided design (CAD) Software Powered by CETOL 6σ computer aided tolerance analysis software. Use of CAD analysis software given the opportunity to find out the cause of variation in tool assembly. Accordingly, the new specification of tolerance and process setting for die set manufacturing has determined. Tolerance allocation and tolerance analysis method were performed iteratively to conclude that position tolerance as well as size tolerance of hole in top plate for bush and size tolerance of guide pillar were more responsible for eccentricity in punch and die. This work proposes optimum tolerance for press tool assembly parts to achieve 100 % yield for specified .015mm minimum tolerance zone.

Keywords: blanking, GD&T (Geometric Dimension and Tolerancing), DPMU (defects per million unit), press tool, stackup analysis, tolerance allocation, yield percentage

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Authors: Néstor Álvarez-Díaz, Pino Caballero-Gil, Héctor Reboso-Morales, Francisco Martín-Fernández

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The recent tendency of "Internet of Things" (IoT) has developed in the last years, causing the emergence of innovative communication methods among multiple devices. The appearance of Bluetooth Low Energy (BLE) has allowed a push to IoT in relation to smartphones. In this moment, a set of new applications related to several topics like entertainment and advertisement has begun to be developed but not much has been done till now to take advantage of the potential that these technologies can offer on many business areas and in everyday tasks. In the present work, the application of BLE technology and smartphones is proposed on some business areas related to the optimization of resource allocation in huge facilities like airports. An indoor location system has been developed through triangulation methods with the use of BLE beacons. The described system can be used to locate all employees inside the building in such a way that any task can be automatically assigned to a group of employees. It should be noted that this system cannot only be used to link needs with employees according to distances, but it also takes into account other factors like occupation level or category. In addition, it has been endowed with a security system to manage business and personnel sensitive data. The efficiency of communications is another essential characteristic that has been taken into account in this work.

Keywords: bluetooth low energy, indoor location, resource assignment, smartphones

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Authors: Umar Ubandawaki

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Political participation involves voluntary and deliberate efforts by the members of a political system to determine the kinds of political institution and individuals that will govern them and equally influence the mobilization and allocation of the available societal resources. Over the years, youths in Nigeria participated actively in political party rallies and voting to elect their leaders and representatives in governance. This paper examines categories and nature of participation in politics as well as factors that derived youths into politics in Sokoto State. Through the use of qualitative and quantitative data generated from focus group discussions, interviews and questionnaire, the paper find out that youth, in Sokoto State, have been induced in participatory activities that encourage political thuggery and manipulation of electoral outcomes. Moreover, they are neglected in the mobilization and allocation of the available resources of the society i.e they are denied dividends of good governance. The paper recommends that youths should be engaged into positive participatory activities for ensuring inclusiveness and promotion of good governance in Nigeria. It is hoped that this will enlighten youth and policy implementers on the constructive strategies in controlling youth’s participation in politics in Nigeria.

Keywords: democracy, governance, inclusivenes, participation and politic

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Authors: Oluwatosin Adewale

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The sustainability of built heritage has become a relevant issue in recent years due to the social and economic values associated with these buildings. Heritage buildings provide a means for human perception of culture and represent a legacy of long-existing history; they define the local character of the social world and provide a vital connection to the past with their associated aesthetical and communal benefits. The identified values of heritage buildings have increased the importance of conservation and the lifecycle management of these buildings. The recent developments of digital design technology in engineering and the built environment have led to the adoption of Building Information Modelling (BIM) by the Architecture, Engineering, Construction, and Operations (AECO) industry. BIM provides a platform for the lifecycle management of a construction project through effective collaboration among stakeholders and the analysis of a digital information model. This growth in digital design technology has also made its way into the field of architectural heritage management in the form of Historic Building Information Modelling (HBIM). A reverse engineering process for digital documentation of heritage assets that draws upon similar information management processes as the BIM process. However, despite the several scientific and technical contributions made to the development of the HBIM process, it doesn't remain easy to integrate at the most practical level of heritage asset management. The main objective identified under the scope of the study is to review the limitations and challenges faced by heritage management professionals in adopting an HBIM-based asset management procedure for historic building projects. This paper uses an exploratory study in the form of semi-structured interviews to investigate the research problem. A purposive sample of heritage industry experts and professionals were selected to take part in a semi-structured interview to appraise some of the limitations and challenges they have faced with the integration of HBIM into their project workflows. The findings from this study will present the challenges and limitations faced in applying and integrating the HBIM concept for the management of historic buildings.

Keywords: building information modelling, built heritage, heritage asset management, historic building information modelling, lifecycle management

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Authors: Y. Long, L. Liu, K. V. Branin

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One challenge faced by procurement decision-maker during the acquisition process is how to compare similar products from different suppliers and allocate orders among different products or services. This work focuses on allocating orders among multiple suppliers considering rebate. The objective function is to minimize the total acquisition cost including purchasing cost and rebate benefit. Rebate benefit is complex and difficult to estimate at the ordering step. Rebate rules vary for different suppliers and usually change over time. In this work, we developed a system to collect the rebate policies, standardized the rebate policies and developed two-stage optimization models for ordering allocation. Rebate policy with multi-tiers is considered in modeling. The discontinuous cost function of rebate benefit is formulated for different scenarios. A piecewise linear function is used to approximate the discontinuous cost function of rebate benefit. And a Mixed Integer Programing (MIP) model is built for order allocation problem with multi-tier rebate. A case study is presented and it shows that our optimization model can reduce the total acquisition cost by considering rebate rules.

Keywords: discontinuous cost function, mixed integer programming, optimization, procurement, rebate

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Authors: Anuradha Maharaj, Adrian Cashman

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The cross-cutting nature of water as a resource translates into the need for a better understanding of its movement, storage and loss at all points in the hydro-socioeconomic cycle. An integrated approach to addressing the issue of sustainability means quantitatively understanding: the linkages within this cycle, the role of water managers in resource allocation, and the critical factors influencing its scarcity. The Water Evaluation and Planning Tool (WEAP) is an integrative model that combines the catchment-scale hydrologic processes with a water management model, driven by environmental requirements and socioeconomic demands. The concept of demand priorities is included to represent the areas of greatest use within a given catchment. Located on Barbados’ West Coast, Speightstown and the surrounding areas encompass a well-developed tourist, residential and agricultural area. The main water resource for this area, and the rest of the island, is that of groundwater. The availability of groundwater in Barbados may be adversely affected by the projected changes in climate, such as reduced wet season rainfall. Economic development and changing sector priorities together with climate related changes have the potential to affect water resource abundance and by extension the allocation of resources for example in the Speightstown area. In order to investigate the potential impacts on the Speightstown area specifically, a WEAP Model of the study area was developed to estimate the present available water (baseline reference scenario 2000-2010). From this baseline scenario, it is envisioned that an exploration into projected changes in availability in the near term (2035-2045) and medium/long term (2065-2075) time frames will be undertaken. The generated estimations can assist water managers to better evaluate the status of and identify trends in water use and formulate adaptation measures to offset future deficits.

Keywords: water evaluation and planning system (WEAP), water availability, demand and supply, water allocation

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Authors: Anupam Purwar

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In conventional consumer product industry, stockouts are taken care by carrying buffer stock to check underserving caused by changes in customer demand, incorrect forecast or variability in lead times. But, for food outlets, the alternate of carrying buffer stock is unviable because of indispensable need to serve freshly cooked meals. Besides, the food outlet being the sole provider has no incentives to reduce stockouts, as they have no fear of losing revenue, gross profit, customers and market share. Hence, innovative, easy to implement and practical ways of addressing the twin problem of long queues and poor customer experience needs to be investigated. Current work analyses the demand pattern of 11 different food items across a routine day. Based on this optimum resource allocation for all food items has been carried out by solving a linear programming problem with cost minimization as the objective. Concurrently, recommendations have been devised to address this demand and supply side problem keeping in mind their practicability. Currently, the recommendations are being discussed and implemented at ISB (Indian School of Business) Hyderabad campus.

Keywords: F&B industry, resource allocation, demand management, linear programming, LP, queuing analysis

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Authors: Ana M. Prieto del Pino

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As is well known, UN Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (1988) was a landmark regarding the seizure of proceeds of crime. Depriving criminals of the profits from their activity became a priority at an international level in the fight against organised crime. Enabling confiscation of proceeds of illicit traffic in narcotic drugs and psychotropic substances, criminalising money laundering and confiscating the proceeds thereof are the three measures taken in order to achieve that purpose. The beginning of 21st century brought the declaration of war on corruption and on the illicit enjoyment of the profits thereof onto the international scene. According to the UN Convention against Transnational Organised Crime (2000), States Parties should adopt the necessary measures to enable the confiscation of proceeds of crime derived from offences (or property of equivalent value) and property, equipment and other instrumentalities used in offences covered by that Convention. The UN Convention against Corruption (2003) states asset recovery explicitly as a fundamental principle and sets forth measures aiming at the direct recovery of property through international cooperation in confiscation. Furthermore, European legislation has made many significant strides forward in less than twenty years concerning money laundering, confiscation, and asset recovery. Crime does not pay, let there be no doubt about it. Nevertheless, we must be very careful not to sing out of tune with individual rights and legal guarantees. On the one hand, innocent individuals and businesses must be protected, since they should not pay for the guilty ones’ faults. On the other hand, the rule of law must be preserved and not be tossed aside regarding those who have carried out criminal activities. An in-depth analysis of judicial decisions on money laundering and confiscation of proceeds of crime issued by European national courts and by the European Court of Human Rights in the last decade has been carried out from a human rights, legal guarantees and criminal law basic principles’ perspective. The undertaken study has revealed the violation of the right to property, of the proportionality principle legal and the infringement of basic principles of states’ domestic substantive and procedural criminal law systems. The most relevant ones have to do with the punishment of money laundering committed through negligence, non-conviction based confiscation and a too-far reaching interpretation of the notion of ‘proceeds of crime’. Almost everything in life has a bright and a dark side. Confiscation of criminal proceeds and asset recovery are not an exception to this rule.

Keywords: confiscation, human rights, money laundering, organized crime

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Authors: Mai A. Ibrahim, Mohammed El-Beltagy, Motaz Khorshid

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Emerging Markets return distributions have shown significance departure from normality were they are characterized by fatter tails relative to the normal distribution and exhibit levels of skewness and kurtosis that constitute a significant departure from normality. Therefore, the classical Markowitz Mean-Variance is not applicable for emerging markets since it assumes normally-distributed returns (with zero skewness and kurtosis) and a quadratic utility function. Moreover, the Markowitz mean-variance analysis can be used in cases of moderate non-normality and it still provides a good approximation of the expected utility, but it may be ineffective under large departure from normality. Higher moments models and median models have been suggested in the literature for asset allocation in this case. Higher moments models have been introduced to account for the insufficiency of the description of a portfolio by only its first two moments while the median model has been introduced as a robust statistic which is less affected by outliers than the mean. Tail risk measures such as Value-at Risk (VaR) and Conditional Value-at-Risk (CVaR) have been introduced instead of Variance to capture the effect of risk. In this research, higher moment models including the Mean-Variance-Skewness (MVS) and Mean-Variance-Skewness-Kurtosis (MVSK) are formulated as single-objective non-linear programming problems (NLP) and median models including the Median-Value at Risk (MedVaR) and Median-Mean Absolute Deviation (MedMAD) are formulated as a single-objective mixed-integer linear programming (MILP) problems. The higher moment models and median models are compared to some benchmark portfolios and tested on real financial data in the Egyptian main Index EGX30. The results show that all the median models outperform the higher moment models were they provide higher final wealth for the investor over the entire period of study. In addition, the results have confirmed the inapplicability of the classical Markowitz Mean-Variance to the Egyptian stock market as it resulted in very low realized profits.

Keywords: Egyptian stock exchange, emerging markets, higher moment models, median models, mixed-integer linear programming, non-linear programming

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Authors: Julinda Keçi

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In many countries, governments have been promoting the involvement of private sector entities to enter into long-term agreements for the development and delivery of large infrastructure projects, with a focus on overcoming the limitations upon public fund of the traditional approach. The involvement of private sector through public-private partnerships (PPP) brings in new capital investments, value for money and additional risks to handle. Worldwide research studies have shown that an objective, systematic, reliable and user-oriented risk assessment process and an optimal allocation mechanism among different stakeholders is crucial to the successful completion. In this framework this paper, which is the first stage of a research study, aims to identify the main risks for the delivery of PPP projects. A review of cross-countries research projects and case studies was performed to map the key risks affecting PPP infrastructure delivery. The matrix of mapping offers a summary of the frequency of factors, clustered in eleven categories: Construction, Design, Economic, Legal, Market, Natural, Operation, Political, Project finance, Project selection and Relationship. Results will highlight the most critical risk factors, and will hopefully assist the project managers in directing the managerial attention in the further stages of risk allocation.

Keywords: construction, infrastructure, public private partnerships, risks

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Authors: Yolanda Indah Permatasari, Sudarsono Hardjosoekarto

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Public private partnership (PPP) scheme was considered as an alternative source of funding for infrastructure provision. However, the performance of PPP scheme and interest of private sector to participate in the provision of infrastructure was still practically low. This phenomenon motivates the research to reconstruct the form of collaborative governance at the policy level from the perspective of transaction cost of the PPP scheme. Soft-system methodology (SSM)-based action research was used as this research methodology. The result of this study concludes that the emergence of transaction cost sources at the policy level is caused by the absence of a law that governs infrastructure investment, especially the implementation of PPP scheme. This absence is causing the imbalance in risk allocation and risk mitigation between the public and private sector. Thus, this research recommended the formulation of infrastructure investment law that aims to minimize asymmetry information, to anticipate the principal-principal problems, and to provide legal basis that ensures risk certainty and guarantee fair risk allocation between public and private sector.

Keywords: public governance, public private partnership, soft system methodology, transaction cost

Procedia PDF Downloads 140