Search results for: forward contract

Authors: Galal H. Senussi, Muamar Benisa, Sanja Vasin

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In our business field today, one of the most important issues for any enterprises is cost minimization and profit maximization. Second issue is how to develop a strong and capable model that is able to give us desired forecasting of these two issues. Many researches deal with these issues using different methods. In this study, we developed a model for multi-criteria production program optimization, integrated with Artificial Neural Network. The prediction of the production cost and profit per unit of a product, dealing with two obverse functions at same time can be extremely difficult, especially if there is a great amount of conflict information about production parameters. Feed-Forward Neural Networks are suitable for generalization, which means that the network will generate a proper output as a result to input it has never seen. Therefore, with small set of examples the network will adjust its weight coefficients so the input will generate a proper output. This essential characteristic is of the most important abilities enabling this network to be used in variety of problems spreading from engineering to finance etc. From our results as we will see later, Feed-Forward Neural Networks has a strong ability and capability to map inputs into desired outputs.

Keywords: project profitability, multi-objective optimization, genetic algorithm, Pareto set, neural networks

Procedia PDF Downloads 419

Authors: Muhammad Arzim Naim, Saiful Azhar Rosly, Mohamad Sahari Nordin

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The objective of this study is to investigate the factors affecting the rise of Shariah non-compliance risk that can bring Islamic banks to succumb to monetary loss. Prior literatures have never analyzed such risk in details despite lots of it arguing on the validity of some Shariah compliance products. The Shariah non-compliance risk in this context is looking to the potentially failure of the facility to stand from the court test say that if the banks bring it to the court for compensation from the defaulted clients. The risk may also arise if the customers refuse to make the financing payments on the grounds of the validity of the contracts, for example, when relinquishing critical requirement of Islamic contract such as ownership, the risk that may lead the banks to suffer loss when the customer invalidate the contract through the court. The impact of Shariah non-compliance risk to Islamic banks is similar to that of legal risks faced by the conventional banks. Both resulted into monetary losses to the banks respectively. In conventional banking environment, losses can be in the forms of summons paid to the customers if they won the case. In banking environment, this normally can be in very huge amount. However, it is right to mention that for Islamic banks, the subsequent impact to them can be rigorously big because it will affect their reputation. If the customers do not perceive them to be Shariah compliant, they will take their money and bank it in other places. This paper provides new insights of risks faced by credit intensive Islamic banks by providing a new extension of knowledge with regards to the Shariah non-compliance risk by identifying its individual components that directly affecting the risk together with empirical evidences. Not limited to the Islamic banking fraternities, the regulators and policy makers should be able to use findings in this paper to evaluate the components of the Shariah non-compliance risk and make the necessary actions. The paper is written based on Malaysia’s Islamic banking practices which may not directly related to other jurisdictions. Even though the focuses of this study is directly towards to the Bay Bithaman Ajil or popularly known as BBA (i.e. sale with deferred payments) financing modality, the result from this study may be applicable to other Islamic financing vehicles.

Keywords: Islamic banking, Islamic finance, Shariah Non-compliance risk, Bay Bithaman Ajil (BBA), principal axis factoring

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Authors: S. M. Dash, K. B. Lua, T. T. Lim

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This paper presents results of numerical and experimental studies on a two-dimensional (2D) flapping elliptic airfoil in a forward flight condition at Reynolds number of 5000. The study is motivated from an earlier investigation which shows that the deterioration in thrust performance of a sinusoidal heaving and pitching 2D (NACA0012) airfoil at high flapping frequency can be recovered by changing the effective angle of attack profile to square wave, sawtooth, or cosine wave shape. To better understand why such modifications lead to superior thrust performance, we take a closer look at the transient aerodynamic force behavior of an airfoil when the effective angle of attack profile changes gradually from a generic smooth trapezoidal profile to a sinusoid shape by modifying the base length of the trapezoid. The choice of using a smooth trapezoidal profile is to avoid the infinite acceleration condition encountered in the square wave profile. Our results show that the enhancement in the time-averaged thrust performance at high flapping frequency can be attributed to the delay and reduction in the drag producing valley region in the transient thrust force coefficient when the effective angle of attack profile changes from sinusoidal to trapezoidal.

Keywords: two-dimensional flapping airfoil, thrust performance, effective angle of attack, CFD, experiments

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Authors: L. Ngowi, N. H. Mvungi

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This paper critically examines the evolution of socio-technical systems theory, its practices, and challenges in system design and development. It examines concepts put forward by researchers focusing on the application of the theory in software engineering. There are various methods developed that use socio-technical concepts based on systems engineering without remarkable success. The main constraint is the large amount of data and inefficient techniques used in the application of the concepts in system engineering for developing time-bound systems and within a limited/controlled budget. This paper critically examines each of the methods, highlight bottlenecks and suggest the way forward. Since socio-technical systems theory only explains what to do, but not how doing it, hence engineers are not using the concept to save time, costs and reduce risks associated with new frameworks. Hence, a new framework, which can be considered as a practical approach is proposed that borrows concepts from soft systems method, agile systems development and object-oriented analysis and design to bridge the gap between theory and practice. The approach will enable the development of systems using socio-technical systems theory to attract/enable the system engineers/software developers to use socio-technical systems theory in building worthwhile information systems to avoid fragilities and hostilities in the work environment.

Keywords: socio-technical systems, human centered design, software engineering, cognitive engineering, soft systems, systems engineering

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Authors: Behnam Zahednejad, Saeed Kosari

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Widespread deployment of Internet of Things (IoT) has raised security and privacy issues in this environment. Designing a secure two-factor authentication scheme between the user and server is still a challenging task. In this paper, we focus on Cancelable Biometric (CB) as an authentication factor in IoT. We show that previous CB-based scheme fail to provide real two-factor security, Perfect Forward Secrecy (PFS) and suffer database attacks and traceability of the user. Then we propose our improved scheme based on CB and Physically Unclonable Functions (PUF), which can provide real two-factor security, PFS, user’s unlinkability, and resistance to database attack. In addition, Key Compromise Impersonation (KCI) resilience is achieved in our scheme. We also prove the security of our proposed scheme formally using both Real-Or-Random (RoR) model and the ProVerif analysis tool. For the usability of our scheme, we conducted a performance analysis and showed that our scheme has the least communication cost compared to the previous CB-based scheme. The computational cost of our scheme is also acceptable for the IoT environment.

Keywords: IoT, two-factor security, cancelable biometric, key compromise impersonation resilience, perfect forward secrecy, database attack, real-or-random model, ProVerif

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Authors: Awe Ayodeji Samson, Adeuja Yetunde Omowunmi

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Corruption is a ‘monster’ that can consume a whole nation, continent and even the world if it is not destroyed while it is still immature; It grows in the mind of the people, takes over their thinking and guides their decision-making process. Corruption snowballs into socio-economic catastrophe that might be difficult to deal with. Corruption which is a disease of the mind can be alleviated in Africa and the world at large by transforming a Corruption-Prone Mind to a Corruption-Immune Mind and to achieve this, we have to change our value system because the use of anti-graft agencies alone is not enough. Therefore, we have to fight corruption from the inside and the outside. Value System is the principle of right and wrong that are accepted by an individual or a social group; the reviewing and reordering of our value system is the solution to the problem of corruption as proposed by this research because the African society has become a ‘Money and Power Driven Society’ where the ‘I am worth concept’ which is a problematic concept has created an ‘Aggressive Society’ with grasping and money-grabbing individuals. We place more priority on money and the display of opulence. Hence, this has led to a ‘Triangular Society’ where minority is lavishing in plenty and majority is gasping for little. The get rich quick syndrome, the ethnicity syndrome, weakened educational system are signs of the prevalence of corruption in Africa This research has analyzed role and impact of the change in our value system in the fight against corruption in Africa and has therefore proposed the change in our value system as the way forward in the fight against corruption in Africa.

Keywords: corruption-prone mind, corruption-immune mind, triangular society, aggressive society, money and power-driven society

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Authors: Guanqun Shi, Xueqing Zhang

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The frequent occurrence of failures in PPP projects which caused great loss has raised attention from the government as well as the concessionaire. PPPs are complex arrangements for its long operation period and multiple players. Many types of risks in PPP projects may cause the project fail. The insurance is an important tool to transfer the risks. Through a comparison and analysis of international government PPP guidelines and contracts as well as the case studies worldwide, we have identified eight main insurance principles, discussed thirteen insurance types in different stages. An overall procedure would be established to improve the practices in PPP projects.

Keywords: public private partnerships, insurance, contract, risk

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Authors: Alena Nesterenko, Svetlana Petrikova

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Research evaluation is one of the most important elements of self-regulation and development of researchers as it is impartial and independent process of assessment. The method of expert evaluations as a scientific instrument solving complicated non-formalized problems is firstly a scientifically sound way to conduct the assessment which maximum effectiveness of work at every step and secondly the usage of quantitative methods for evaluation, assessment of expert opinion and collective processing of the results. These two features distinguish the method of expert evaluations from long-known expertise widespread in many areas of knowledge. Different typical problems require different types of expert evaluations methods. Several issues which arise with these methods are experts’ selection, management of assessment procedure, proceeding of the results and remuneration for the experts. To address these issues an on-line system was created with the primary purpose of development of a versatile application for many workgroups with matching approaches to scientific work management. Online documentation assessment and statistics system allows: - To realize within one platform independent activities of different workgroups (e.g. expert officers, managers). - To establish different workspaces for corresponding workgroups where custom users database can be created according to particular needs. - To form for each workgroup required output documents. - To configure information gathering for each workgroup (forms of assessment, tests, inventories). - To create and operate personal databases of remote users. - To set up automatic notification through e-mail. The next stage is development of quantitative and qualitative criteria to form a database of experts. The inventory was made so that the experts may not only submit their personal data, place of work and scientific degree but also keywords according to their expertise, academic interests, ORCID, Researcher ID, SPIN-code RSCI, Scopus AuthorID, knowledge of languages, primary scientific publications. For each project, competition assessments are processed in accordance to ordering party demands in forms of apprised inventories, commentaries (50-250 characters) and overall review (1500 characters) in which expert states the absence of conflict of interest. Evaluation is conducted as follows: as applications are added to database expert officer selects experts, generally, two persons per application. Experts are selected according to the keywords; this method proved to be good unlike the OECD classifier. The last stage: the choice of the experts is approved by the supervisor, the e-mails are sent to the experts with invitation to assess the project. An expert supervisor is controlling experts writing reports for all formalities to be in place (time-frame, propriety, correspondence). If the difference in assessment exceeds four points, the third evaluation is appointed. As the expert finishes work on his expert opinion, system shows contract marked ‘new’, managers commence with the contract and the expert gets e-mail that the contract is formed and ready to be signed. All formalities are concluded and the expert gets remuneration for his work. The specificity of interaction of the examination officer with other experts will be presented in the report.

Keywords: expertise, management of research evaluation, method of expert evaluations, research evaluation

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Authors: R. Edward Minchin Jr.

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The U.S. Federal Highway Administration (FHWA) Every Day Counts Program (EDC) has resulted in state DOTs putting evermore emphasis on speeding up the delivery of highway and bridge construction projects for use by the driving public. This has resulted in an increase in the use of alternative construction delivery systems such as design-build (D-B), construction manager at-risk (CMR) or construction manager/general contractor (CM/GC), and adding alternative technical concepts (ATCs) to traditional design-bid-build (DBB) contracts. ATCs have exhibited great potential for delivering substantial benefits like cost savings, increased constructability, and quicker project delivery. Previous research has found that knowledge of project constructability was lacking in state Department of Transportation (DOT) planning, programming, and environmental staffs. Many agencies have therefore relied on a set of ‘acceptable’ design solutions over the years of working with their local resource agencies. The result is that the permitting process for several government agencies has become increasingly restrictive with the result that the DOTs and their industry partners lose the ability to innovate after a permit is approved. The intent of this paper is to report on the research team’s progress in this ongoing effort furnish the United States government with a uniform set of guidelines for the application of constructability reviews during all phases of project development and delivery. The research uses surveys and interviews to determine which states have implemented formal programs to ensure that the constructor is furnished with a set of contract documents that affords said constructor with the best possible opportunity to successfully construct the project with the highest quality standards, within the contract duration and without exceeding the construction budget. Once these states are identified, workshops are held all over the nation, resulting in the team learning the best current practices and giving the team the ability to recommend new practices that will improve the process. The plan is for the FHWA to encourage or require state DOTs to use these practices on all federally funded highway and bridge construction projects. The project deliverable is a Guidebook for FHWA to use in disseminating the recommended practices to the states.

Keywords: alternative construction delivery, alternative technical concepts, constructability, construction design plans

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Authors: Syed Irfan Raza Naqvi, Zheng Jiangbin, Ahmad Moshin, Pervez Akhter

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Currently, the IoT system depends on a centralized client-servant architecture that causes various scalability and privacy vulnerabilities. Distributed ledger technology (DLT) introduces a set of opportunities for the IoT, which leads to practical ideas for existing components at all levels of existing architectures. Blockchain Technology (BCT) appears to be one approach to solving several IoT problems, like Bitcoin (BTC) and Ethereum, which offer multiple possibilities. Besides, IoTs are resource-constrained devices with insufficient capacity and computational overhead to process blockchain consensus mechanisms; the traditional BCT existing challenge for IoTs is poor scalability, energy efficiency, and transaction fees. IOTA is a distributed ledger based on Direct Acyclic Graph (DAG) that ensures M2M micro-transactions are free of charge. IOTA has the potential to address existing IoT-related difficulties such as infrastructure scalability, privacy and access control mechanisms. We proposed an architecture, SLDBI: A Scalable, lightweight DAG-based Blockchain Design for Intelligent IoT Systems, which adapts the DAG base Tangle and implements a lightweight message data model to address the IoT limitations. It enables the smooth integration of new IoT devices into a variety of apps. SLDBI enables comprehensive access control, energy efficiency, and scalability in IoT ecosystems by utilizing the Masked Authentication Message (MAM) protocol and the IOTA Smart Contract Protocol (ISCP). Furthermore, we suggest proof-of-work (PoW) computation on the full node in an energy-efficient way. Experiments have been carried out to show the capability of a tangle to achieve better scalability while maintaining energy efficiency. The findings show user access control management at granularity levels and ensure scale up to massive networks with thousands of IoT nodes, such as Smart Connected Buildings (SCBDs).

Keywords: blockchain, IOT, direct acyclic graphy, scalability, access control, architecture, smart contract, smart connected buildings

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Authors: Shubhangi R. Deshmukh, Anupam B. Soni

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Clean water and electricity are vital services needed in all communities. Bio-degradation of wastewater contaminants and desalination technologies are the best possible alternatives for the global shortage of fresh water supply. Osmotic microbial fuel cell (OMFC) is a versatile technology that uses microorganism (used for biodegradation of organic waste) and membrane technology (used for water purification) for wastewater treatment and energy generation simultaneously. This technology is the combination of microbial fuel cell (MFC) and forward osmosis (FO) processes. OMFC can give more electricity and clean water than the MFC which has a regular proton exchange membrane. FO gives many improvements such as high contamination removal, lower operating energy, raising high proton flux than other pressure-driven membrane technology. Lower concentration polarization lowers the membrane fouling by giving osmotic water recovery without extra cost. In this review paper, we have discussed the principle, mechanism, limitation, and application of OMFC technology reported to date. Also, we have interpreted the experimental data from various literature on the water recovery and electricity generation assessed by a different component of OMFC. The area of producing electricity using OMFC has further scope for research and seems like a promising route to wastewater treatment.

Keywords: forward osmosis, microbial fuel cell, osmotic microbial fuel cell, wastewater treatment

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Authors: Mehran Barani Shikhrobat, Roger Flanagan

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The construction planning and scheduling based on using the current tools and techniques is resulted deterministic in nature (Gantt chart, CPM) or applying a very little probability of completion (PERT) for each task. However, every project embodies assumptions and influences and should start with a complete set of clearly defined goals and constraints that remain constant throughout the duration of the project. Construction planners continue to apply the traditional methods and tools of “hard” project management that were developed for “ideal projects,” neglecting the potential influence of complexity on the design and construction process. The aim of this research is to investigate the emergence and growth of complexity in project planning and to provide a model to consider the influence of complexity on the total project duration at the post-contract award pre-construction stage of a project. The literature review showed that complexity originates from different sources of environment, technical, and workflow interactions. They can be divided into two categories of complexity factors, first, project tasks, and second, project organisation management. Project tasks may originate from performance, lack of resources, or environmental changes for a specific task. Complexity factors that relate to organisation and management refer to workflow and interdependence of different parts. The literature review highlighted the ineffectiveness of traditional tools and techniques in planning for complexity. However, this research focus on understanding the fundamental causes of the complexity of construction projects were investigated through a questionnaire with industry experts. The results were used to develop a model that considers the core complexity factors and their interactions. System dynamics were used to investigate the model to consider the influence of complexity on project planning. Feedback from experts revealed 20 major complexity factors that impact project planning. The factors are divided into five categories known as core complexity factors. To understand the weight of each factor in comparison, the Analytical Hierarchy Process (AHP) analysis method is used. The comparison showed that externalities are ranked as the biggest influence across the complexity factors. The research underlines that there are many internal and external factors that impact project activities and the project overall. This research shows the importance of considering the influence of complexity on the project master plan undertaken at the post-contract award pre-construction phase of a project.

Keywords: project planning, project complexity measurement, planning uncertainty management, project risk management, strategic project scheduling

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Authors: M. H. Aldahrob, A. Kokce, S. Altindal, H. E. Lapa

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In order to obtain the detailed information about the effect of (Zn-doped PVA) interfacial layer, surface states (Nss) and series resistance (Rs) on electrical characteristics, both Au/n- type 4H-SiC (MS) with and without (Zn doped PVA) interfacial layer were fabricated to compare. The main electrical parameters of them were investigated using forward and reverse bias current-voltage (I-V), capacitance-voltage (C-V) and conductance –voltage (G/W –V) measurements were performed at room temperature. Experimental results show that the value of ideality factor (n), zero –bias barrier height (ΦBo), Rs, rectifier rate (RR=IF/IR) and the density of Nss are strong functions interfacial layer and applied bias voltage. The energy distribution profile of Nss was obtained from forward bias I-V data by taking into account voltage dependent effective BH (ΦBo) and ideality factor (n(V)). Voltage dependent profile of Rs was also obtained both by using Ohm’s law and Nicollian and Brew methods. The other main diode parameters such as the concentration of doping donor atom (ND), Fermi energy level (EF).BH (ΦBo), depletion layer with (WD) were obtained by using the intercept and slope of the reverse bias C-2 vs V plots. It was found that (Zn-doped PVA) interfacial layer lead to a quite decrease in the values Nss, Rs and leakage current and increase in shunt resistance (Rsh) and RR. Therefore, we can say that the use of thin (Zn-doped PVA) interfacial layer can quite improved the performance of MS structure.

Keywords: interfacial polymer layer, thickness dependence, electric and dielectric properties, series resistance, interface state

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Authors: Yoon- Ho Shin, Jin-Seung Choi, Dong-Won Kang, Jeong-Woo Seo, Joo-Hack Lee, Ju-Young Kim, Dae-Hyeok Kim, Seung-Tae Yang, Gye-Rae Tack

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It is difficult to study the effect of various variables on cycle fitting through actual experiment. To overcome such difficulty, the forward dynamics of a musculoskeletal model was applied to cycle fitting in this study. The measured EMG data were compared with the muscle activities of the musculoskeletal model through forward dynamics. EMG data were measured from five cyclists who do not have musculoskeletal diseases during three minutes pedaling with a constant load (150 W) and cadence (90 RPM). The muscles used for the analysis were the Vastus Lateralis (VL), Tibialis Anterior (TA), Bicep Femoris (BF), and Gastrocnemius Medial (GM). Person’s correlation coefficients of the muscle activity patterns, the peak timing of the maximum muscle activities, and the total muscle activities were calculated and compared. BIKE3D model of AnyBody (Anybodytech, Denmark) was used for the musculoskeletal model simulation. The comparisons of the actual experiments with the simulation results showed significant correlations in the muscle activity patterns (VL: 0.789, TA: 0.503, BF: 0.468, GM: 0.670). The peak timings of the maximum muscle activities were distributed at particular phases. The total muscle activities were compared with the normalized muscle activities, and the comparison showed about 10% difference in the VL (+10%), TA (+9.7%), and BF (+10%), excluding the GM (+29.4%). Thus, it can be concluded that muscle activities of model & experiment showed similar results. The results of this study indicated that it was possible to apply the simulation of further improved musculoskeletal model to cycle fitting.

Keywords: musculoskeletal modeling, EMG, cycle fitting, simulation

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Authors: T. P. Singh, Vijay Gautam

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Gladiolus is an important cash crop and is grown mainly for its elegant spikes. Traditionally the gladiolus corms are planted manually which is very tedious, time consuming and labor intensive operation. So far, there is no planter available for planting of gladiolus corms. With a view to mechanize the planting operation of this horticultural crop, a prototype of 4-row gladiolus planter was developed and its performance was evaluated in-situ condition. Cup-chain type metering device was used to singulate the gladiolus corms while planting. Three levels of corm spacing viz 15, 20 and 25 cm and four levels of forward speed viz 1.0, 1.5, 2.0 and 2.5 km/h was taken as evaluation parameter for the planter. The performance indicators namely corm spacing in each row, coefficient of uniformity, missing index, multiple index, quality of feed index, number of corms per meter length, mechanical damage to the corms etc. were determined during the field test. The data was statistically analyzed using Completely Randomized Design (CRD) for testing the significance of the parameters. The result indicated that planter was able to drop the corms at required nominal spacing with minor variations. The highest deviation from the mean corm spacing was observed as 3.53 cm with maximum coefficient of variation as 13.88%. The highest missing and quality of feed indexes were observed as 6.33% and 97.45% respectively with no multiples. The performance of the planter was observed better at lower forward speed and wider corm spacing. The field capacity of the planter was found as 0.103 ha/h with an observed field efficiency of 76.57%.

Keywords: coefficient of uniformity, corm spacing, gladiolus planter, mechanization

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Authors: Song Hyok Choe

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This study presented a method to determine the optimum design parameters based on a mathematical model of the operating process in a manual electromagnetic hammer using solenoid electromagnets. The operating process of the electromagnetic hammer depends on the circuit scheme of the power controller. Mathematical modeling of the operating process was carried out by considering the energy transfer process in the forward and reverse windings and the electromagnetic force acting on the impact and brake pistons. Using the developed mathematical model, the initial design data of a manual electromagnetic hammer proposed in this paper are encoded and analyzed in Matlab. On the other hand, a measuring experiment was carried out by using a measurement device to check the accuracy of the developed mathematical model. The relative errors of the analytical results for measured stroke distance of the impact piston, peak value of forward stroke current and peak value of reverse stroke current were −4.65%, 9.08% and 9.35%, respectively. Finally, it was shown that the mathematical model of the operating process of an electromagnetic hammer is relatively accurate, and it can be used to determine the design parameters of the electromagnetic hammer. Therefore, the design parameters that can provide the required impact energy in the manual electromagnetic hammer were determined using a mathematical model developed. The proposed method will be used for the further design and development of the various types of percussion rock drills.

Keywords: solenoid electromagnet, electromagnetic hammer, stone processing, mathematical modeling

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Authors: Osung Im, Neha Yadav, Eui Hoon Lee, Joong Hoon Kim

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Artificial Neural Network (ANN) approach is commonly used in lots of fields for forecasting. In water resources engineering, forecast of water level or inflow of reservoir is useful for various kind of purposes. Due to advantages of ANN, many papers were written for inflow prediction in river networks, but in this study, ANN is used in urban sewer networks. The growth of severe rain storm in Korea has increased flood damage severely, and the precipitation distribution is getting more erratic. Therefore, effective pump operation in pump station is an essential task for the reduction in urban area. If real time inflow of pump station reservoir can be predicted, it is possible to operate pump effectively for reducing the flood damage. This study used ANN model for pump station reservoir inflow prediction using upstream sewer depth data. For this study, rainfall events, sewer depth, and inflow into Banpo pump station reservoir between years of 2013-2014 were considered. Feed – Forward Back Propagation (FFBF), Cascade – Forward Back Propagation (CFBP), Elman Back Propagation (EBP) and Nonlinear Autoregressive Exogenous (NARX) were used as ANN model for prediction. A comparison of results with ANN model suggests that ANN is a powerful tool for inflow prediction using the sewer depth data.

Keywords: artificial neural network, forecasting, reservoir inflow, sewer depth

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Authors: Mario P. Walker, Masaaki Okuma

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Ships are subjected to motions which can disrupt on-board operations and damage equipment. Roll motion, in particular, is of great interest due to low damping conditions which may lead to capsizing. Therefore finding ways to reduce this motion is important in ship designs. Several techniques have been investigated to reduce rolling. These include the commonly used anti-roll tanks, fin stabilizers and bilge keels. However, these systems are not without their challenges. For example, water-flow in anti-roll tanks creates complications, and for fin stabilizers and bilge keels, an extremely large size is required to produce any significant damping creating operational challenges. Additionally, among these measures presented above only anti-roll tanks are effective in zero forward motion of the vessels. This paper proposes and investigates a method to reduce rolling by inducing Coriolis effect using water-flow in the radial direction. Motion in the radial direction of a rolling structure will induce Coriolis force and, depending on the direction of flow will either amplify or attenuate the structure. The system is modelled with two degrees of freedom, having rotational motion for parametric rolling and radial motion of the water-flow. Equations of motion are derived and investigated. Numerical examples are analyzed in detail. To demonstrate applicability parameters from a Ro-Ro vessel are used as extensive research have been conducted on these over the years. The vessel is investigated under free and forced roll conditions. Several models are created using various masses, heights, and velocities of water-flow at a given time. The proposed system was found to produce substantial roll reduction which increases with increase in any of the parameters varied as stated above, with velocity having the most significant effect. The proposed system provides a simple approach to reduce ship rolling. Water-flow control is very simple as the water flows in only one direction with constant velocity. Only needing to control the time at which the system should be turned on or off. Furthermore, the proposed system is effective in both forward and zero forward motion of the ship, and provides no hydrodynamic drag. This is a starting point for designing an effective and practical system. For this to be a viable approach further investigations are needed to address challenges that present themselves.

Keywords: Coriolis effect, damping, rolling, water-flow

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Authors: Abdeljalil Beniiche

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The limitation with smart contracts is that they cannot access external data that might be required to control the execution of business logic. Oracles can be used to provide external data to smart contracts. An oracle is an interface that delivers data from external data outside the blockchain to a smart contract to consume. Oracle can deliver different types of data depending on the industry and requirements. In this paper, we study and describe the widely used blockchain oracles. Then, we elaborate on his potential role, technical architecture, and design patterns. Finally, we discuss the human oracle and its key role in solving the truth problem by reaching a consensus about a certain inquiry and tasks.

Keywords: blockchain, oracles, oracles design, human oracles

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Authors: Yeliz Karaca, Carlo Cattani

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This study focuses on the local Holder exponent as a measure of the function regularity for time series related to finance data. In this study, the attributes of the finance dataset belonging to 13 countries (India, China, Japan, Sweden, France, Germany, Italy, Australia, Mexico, United Kingdom, Argentina, Brazil, USA) located in 5 different continents (Asia, Europe, Australia, North America and South America) have been examined.These countries are the ones mostly affected by the attributes with regard to financial development, covering a period from 2012 to 2017. Our study is concerned with the most important attributes that have impact on the development of finance for the countries identified. Our method is comprised of the following stages: (a) among the multi fractal methods and Brownian motion Holder regularity functions (polynomial, exponential), significant and self-similar attributes have been identified (b) The significant and self-similar attributes have been applied to the Artificial Neuronal Network (ANN) algorithms (Feed Forward Back Propagation (FFBP) and Cascade Forward Back Propagation (CFBP)) (c) the outcomes of classification accuracy have been compared concerning the attributes that have impact on the attributes which affect the countries’ financial development. This study has enabled to reveal, through the application of ANN algorithms, how the most significant attributes are identified within the relevant dataset via the Holder functions (polynomial and exponential function).

Keywords: artificial neural networks, finance data, Holder regularity, multifractals

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Authors: Siddhartha Paul, Debabrata Das

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Closed-loop supply chain (CLSC) management focuses on integrating forward and reverse flow of material as well as information to maximize value creation over the entire life-cycle of a product. Bullwhip effect in supply chain management refers to the phenomenon where a small variation in customers’ demand results in larger variation of orders at the upstream levels of supply chain. Since the quality and quantity of products returned to the collection centers (as a part of reverse logistics process) are uncertain, bullwhip effect is inevitable in CLSC. Therefore, in the present study, first, through an extensive literature survey, we identify all the important factors related to forward as well as reverse supply chain which causes bullwhip effect in CLSC. Second, we develop a system dynamics model to study the interrelationship among the factors and their effect on the performance of overall CLSC. Finally, the results of the simulation study suggest that demand forecasting, lead times, information sharing, inventory and work in progress adjustment rate, supply shortages, batch ordering, price variations, erratic human behavior, parameter correcting, delivery time delays, return rate of used products, manufacturing and remanufacturing capacity constraints are the important factors which have a significant influence on system’s performance, specifically on bullwhip effect in a CLSC.

Keywords: bullwhip effect, closed-loop supply chain, system dynamics, variance ratio

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Authors: Nadya Patel, Jawn Lim

Abstract:

Foresight 3.0 is a synergistic methodology that encompasses systems analysis, future studies, capacity building, and forward planning. These components are interconnected, fostering a collective anticipatory intelligence that promotes societal resilience (Ravetz, 2020). However, traditional applications of these strands can often fall short, leading to missed opportunities and narrow perspectives. Therefore, Foresight 3.0 champions a holistic approach to tackling complex issues, focusing on systemic transformations and power dynamics. Businesses are pivotal in preparing the workforce for an increasingly uncertain and complex world. This necessitates the adoption of innovative tools and methodologies, such as Foresight 3.0, that can better equip young employees to anticipate and navigate future challenges. Firstly, the incorporation of its methodology into workplace training can foster a holistic perspective among employees. This approach encourages employees to think beyond the present and consider wider social, economic, and environmental contexts, thereby enhancing their problem-solving skills and resilience. This paper discusses our research on integrating Foresight 3.0's transformative principles with a newly developed Critical Design Futures (CDF) framework to equip organisations with the ability to innovate for the world's most complex social problems. This approach is grounded in 'collective forward intelligence,' enabling mutual learning, co-innovation, and co-production among a diverse stakeholder community, where business transformation and innovation are achieved.

Keywords: business transformation, innovation, foresight, critical design

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Authors: Blair D. Macdonald

Abstract:

After nearly one hundred years of its origin, foundational quantum mechanics remains one of the greatest unexplained mysteries in physicists today. Within this time, chaos theory and its geometry, the fractal, has developed. In this paper, the propagation behaviour with an iteration of a simple fractal, the Koch Snowflake, was described and analysed. From an arbitrary observation point within the fractal set, the fractal propagates forward by oscillation—the focus of this study and retrospectively behind by exponential growth from a point beginning. It propagates a potentially infinite exponential oscillating sinusoidal wave of discrete triangle bits sharing many characteristics of light and quantum entities. The model's wave speed is potentially constant, offering insights into the perception and a direction of time where, to an observer, when travelling at the frontier of propagation, time may slow to a stop. In isolation, the fractal is a superposition of component bits where position and scale present a problem of location. In reality, this problem is experienced within fractal landscapes or fields where 'position' is only 'known' by the addition of information or markers. The quantum' measurement problem', 'uncertainty principle,' 'entanglement,' and the classical-quantum interface are addressed; these are a problem of scale invariance associated with isolated fractality. Dual forward and retrospective perspectives of the fractal model offer the opportunity for unification between quantum mechanics and cosmological mathematics, observations, and conjectures. Quantum and cosmological problems may be different aspects of the one fractal geometry.

Keywords: measurement problem, observer, entanglement, unification

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Authors: Arsany Philip Fawzy

Abstract:

This study is going to address the hurdles of project management in the joinery field. It is widely divided into two sections; the first one will shed light on how to execute large-scale projects with a specific focus on the middle east region. It will also raise major obstacles that may face the joinery team from the site clearance and the coordination between the joinery team and the construction team. The second section is going to technically analyze the commercial side of the joinery and how to control the main cost of the project to avoid financial problems. It will also suggest empirical solutions to monitor the cost impact (e.g., Variation of contract quantity and claims).

Keywords: clearance, quality, cost, variation, claim

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Authors: Mukund Ramchandra Mogarekar, Pankaj Kumar, Shraddha V. More

Abstract:

Background: Total cholesterol (TC), low-density lipoprotein cholesterol (LDL-C), very low-density lipoprotein cholesterol (VLDL-C), Apo B, and lipoprotein(a) was found as atherogenic factors while high-density lipoprotein cholesterol (HDL-C) was anti-atherogenic. Methods and Results: The study group consists of 40 MI subjects as cases and 40 healthy as controls. Monocytic PON 2 Lactonase (LACT) activity was measured by using Dihydrocoumarine (DHC) as substrate. Phenotyping was done by method of Mogarekar MR et al, serum AOPP by modified method of Witko-Sarsat V et al and Apo B by Turbidimetric immunoassay. PON 2 LACT activities were significantly lower (p< 0.05) and AOPPs & Apo B were higher in MI subjects (p> 0.05). Trimodal distribution of QQ, QR & RR phenotypes of study population showed no significant difference among cases and controls (p> 0.05). Univariate binary logistic regression analysis showed independent association of TC, HDL, LDL, AOPP, Apo B, and PON 2 LACT activity with MI and multiple forward binary logistic regression showed PON 2 LACT activity and serum Apo B as an independent predictor of MI. Conclusions- Decrease in PON 2 LACT activity in MI subjects than in controls suggests increased oxidative stress in MI which is reflected by significantly increased AOPP and Apo B. PON 1 polymorphism of QQ, QR and RR showed no significant difference in protection against MI. Univariate and multiple forward binary logistic regression showed PON 2 LACT activity and serum Apo B as an independent predictor of MI.

Keywords: advanced oxidation protein products, apolipoprotein-B, myocardial infarction, paraoxonase 2 lactonase

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Authors: Priya Sepaha

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Commercial Surrogacy refers to a contract in which a woman carries a pregnancy for intended parents. There are two types of surrogacy; first, Traditional Surrogacy, in which, sperm of the donor or father is artificially inseminated in the women and carries the fetus till birth. Second, Gestational Surrogacy, in which the egg and sperm of the intended parent are collected for artificial fertilization through In Vitro Fertilization (IVF) technique and after the embryo formation, it is transferred into the womb of a surrogate mother with the help of Assisted Reproductive Technique. Surrogacy has become so widespread in India that it has now been nicknamed the "rent-a-womb" capital of the world due to relatively low cost and lack of stringent regulatory legalisation. The legal aspects surrounding surrogacy are complex, diverse and mostly unsettled. Although this appears to be beneficial for the parties concerned, there are certain sensitive issues which need to be addressed to ensure ample protection to all stakeholders. Commercial surrogacy is an emerging business and a new means of human trafficking particularly in India. Poor and illiterate women are often lured in such deals by their spouse or broker for earning easy money. Traffickers also use force, fraud, or coercion at times to intimidate the probable surrogate mothers. A major chunk of money received from covert surrogacy agreement is taken away by the brokers. The Law Commission of India has specifically reviewed the issue as India is emerging as a major global surrogacy destination. The Supreme Court of India held in the Manji's case in 2008, that commercial surrogacy can be permitted with certain restrictions but had directed the Legislature to pass an appropriate Law for governing Surrogacy in India. The draft Assisted Reproductive Technique (ART) Bill, 2010 is still pending for approval. At present, the Surrogacy Contract between the parties and the ART Clinics Guidelines are perhaps the only guiding force. The Immoral Trafficking Prevention Act (ITPA), 1956 and Sections 366(A) and 372 of the Indian Penal Code, 1860 are perhaps the only existing laws, which deal with human trafficking. Yet, none of these provisions specifically deal with the serious issue of trafficking for the purpose of Commercial Surrogacy. India remains one of the few countries that still allow commercial surrogacy. International Surrogacy involves bilateral issues, where the laws of both the nations have to be at par in order to ensure that the concerns and interests of parties involved get amicably resolved. There is urgent need to pass a comprehensive law by incorporating the latest developments in this field in order to make it ethical on the one hand and to curb disguised human trafficking on the other.

Keywords: business, human trafficking, legal, surrogacy

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Authors: Seyedeh Nahal Sadiri, Ardalan Shariat

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Developing flexibility, by using pilates, would be useful for karate players by reducing the stiffness of muscles and tendons. This study aimed to determine the effects of 12-week pilates training on flexibility, and level of perceived exertion of back muscles among karate players. In this experimental study, 29 male karate players (age: 16-18 years) were randomized to pilates (n=15), and control (n=14) groups and the assessments were done in baseline and after 12-week intervention. Both groups completed 12-week of intervention (2 hours of training, 3 times weekly). The experimental group performed 30 minutes pilates within their warm-up and preparation phase, where the control group only attended their usual karate training. Digital backward flexmeter was used to evaluate the trunk extensors flexibility, and digital forward flexmeter was used to measure the trunk flexors flexibility. Borg CR-10 Scale was also used to determine the perceived exertion of back muscles. Independent samples t-test and paired sample t-test were used to analyze the data. There was a significant difference between the mean score of experimental and control groups in the level of backward trunk flexibility (P < 0.05), forward trunk flexibility (P < 0.05) after 12-week intervention. The results of Borg CR-10 scale showed a significant improvement in pilates group (P < 0.05). Karate instructors, coaches, and athletes can integrate pilates exercises with karate training in order to improve the flexibility, and level of perceived exertion of back muscles.

Keywords: pilates training, karate players, flexibility, Borg CR-10

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Authors: Christo Februanto Putra

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This paper presents risk identification that affects investment feasibility on toll road infrastructure in Indonesia using qualitative methods survey based on the expert practitioner in investor, contractor, and state officials. The problems on infrastructure investment in Indonesia, especially on KPBU model contract, is many risk factors in the investment plan is not calculated in detail thoroughly. Risk factor is a value used to provide an overview of the risk level assessment of an event which is a function of the probability of the occurrence and the consequences of the risks that arise. As results of the survey which is to show which risk factors impacts directly to the investment feasibility and rank them by their impacts on the investment.

Keywords: risk identification, indonesia toll road, investment feasibility

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Authors: Sayor Ajfar Aaron, Sajjat Hossain Abir, Ashif Newaz, Mushfiqur Rahman

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Investigating the convergence of blockchain technology and artificial intelligence, this paper examines their synergistic effects on data integrity and decision-making within smart contracts. By implementing AI-driven analytics on blockchain-based platforms, the research identifies improvements in automated contract enforcement and decision accuracy. The paper presents a framework that leverages AI to enhance transparency and trust while blockchain ensures immutable record-keeping, culminating in significantly optimized operational efficiencies in various industries.

Keywords: artificial intelligence, blockchain, data integrity, smart contracts

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Authors: Shantol McIntosh

Abstract:

Due to environmental and underlying health disparities, the COVID-19 pandemic has caused an added set of economic implications worldwide. Black and Hispanic individuals are more susceptible to contract COVID-19, and if they do, they are more likely to have a severe case that necessitates hospitalization or results in death (Altarum et al., 2020). The literature shows that disparities in health and health treatment are nothing new as they have been recorded for decades and indicate systemic and structural imbalances rooted in racism and discrimination. The purpose of this study is to determine the frequency with which these populations have access to healthcare and treatment. The study will also highlight the key drivers of health disparities. Findings and implications for research and policy will be discussed.

Keywords: COVID-19, racial and ethnic disparities, discrimination, policy

Procedia PDF Downloads 169