Search results for: product innovation
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 5212

Search results for: product innovation

2332 Investigation of Compliance of the Prevailing Import Murabah'a to Sharia

Authors: Aqeel Akhtar

Abstract:

One of prevailing modes of finance in emerging Islamic banking system is Murabah’a; a financial transaction in which cost and profit both must be recognized by buyer. Otherwise the transaction would become invalid. In this mainstream, import Murabah’a transaction is divergent in such a way that the cost is not recognized and identified due to execution of import transaction in foreign currency i.e. US Dollar and the next transaction of Murabaha’a with the client is executed in local currency. Since this transaction is executed in dual currency i.e. bank pays supplier in foreign currency and executes Murabah’a with its client in local currency and it is not allowed in according to Islamic Injunctions as mentioned in hadith narrated by Hazrat Ibn-e-Umar (May Allah be pleased with them) used to sell his camels with Dirhams and take dinars instead and vice versa. Upon revealing before the Prophet (SAW), he was advised that it must not be contingent in the agreement and the ready rate would be applied and possession of one of the consideration is compulsory. The solution in this regard is that the import Murabah’a transaction should be in single currency, however, other currency can be paid in payment at the time of payment in a very indispensable situation provided that ready rate would be applied. Moreover, some of other solutions have also been given in this regard.

Keywords: shariah compliance, import murabaha, islamic banking, product development

Procedia PDF Downloads 234
2331 The Hyundai Model: A Self-Sufficient State like Entity Masquerading as a Company

Authors: Nikita Koradia

Abstract:

Hyundai Motor Company, which started off as a small fish in a big sea, paved its way out successfully and established itself as an independent group from the conglomerate. Hyundai, with its officious power across the globe and particularly in South Korea in the automobile industry, has one the most complex yet fascinating governance structure. Being the second largest contributor to the Gross Domestic Product of South Korea after Samsung and having a market share of 51.3% domestically in automobile industry, Hyundai has faced its part of criticism owing to its anti-labor union approach and owing to its internalization of supply chain management. The censure has been coming from across jurisdictions like China, India, Canada, the EU, etc. The paper focuses on the growth of Hyundai and its inward and outward investment structure. The paper questions the ability of Hyundai to become a mini-state in itself by focusing on its governance structure. The paper further elaborates on its compliance and disclosure regime in the field of Corporate social responsibility and explores how far the business structure adopted by Hyundai works in its favor to become one of the leading automobile contenders in the market.

Keywords: compliance regime, disclosure regime, Hyundai motor company, supply-chain management

Procedia PDF Downloads 116
2330 Development of Performance Measures for the Implementation of Total Quality Management in Indian Industry

Authors: Perminderjit Singh, Sukhvir Singh

Abstract:

Total Quality Management (TQM) refers to management methods used to enhance quality and productivity in business organizations. Total Quality Management (TQM) has become a frequently used term in discussions concerning quality. Total Quality management has brought rise in demands on the organizations policy and the customers have gained more importance in the organizations focus. TQM is considered as an important management tool, which helps the organizations to satisfy their customers. In present research critical success factors includes management commitment, customer satisfaction, continuous improvement, work culture and environment, supplier quality management, training and development, employee satisfaction and product/process design are studied. A questionnaire is developed to implement these critical success factors in implementation of total quality management in Indian industry. Questionnaires filled by consulting different industrial organizations. Data collected from questionnaires is analyzed by descriptive and importance indexes.

Keywords: total quality management, critical success factor, employee satisfaction, supplier quality management, customer focus, quality information, quality measurement

Procedia PDF Downloads 469
2329 Digital Planet: Readying for the Rise of the E-Consumer

Authors: Bhaskar Chakravorti, Christopher Tunnard, Ravi Shankar Chaturvedi

Abstract:

This report introduces the Digital Evolution Index (DEI) as a way to gauge the transformation of economies in the advanced and developing world from traditional brick-and-mortar to digitally enabled. The DEI measures the digital trajectories of 50 countries to provide actionable, data-informed insights for businesses, investors and policymakers. Created by The Fletcher School, in collaboration with MasterCard Worldwide and DataCash, the DEI analyzes the key underlying drivers and barriers that govern a country’s evolution into a digital economy: Demand, Supply, Institutional Environment and Innovation. A longitudinal analysis of these four drivers during the years 2008 to 2013 reveals both the current state of a country’s digital economy, as well as changes over time. Combining these two measures allows us to assign each country to one of four Trajectory Zones: • Stand Out countries have shown high levels of digital development in the past and continue to remain on an upward trajectory. • Stall Out countries have achieved a high level of evolution in the past but are losing momentum and risk falling behind. • Break Out countries have the potential to develop strong digital economies. Though their overall score is still low, they are moving upward and are poised to become Stand Out countries in the future. • Watch Out countries face significant opportunities and challenges, with low scores on both current level and upward motion of their DEI. Some may be able to overcome limitations with clever innovations and stopgap measures, while others seem to be stuck.

Keywords: e-commerce, digital evolution, digital commerce ecosystems, e-consumer

Procedia PDF Downloads 364
2328 Structure and Activity Research of Hydrocarbons Refining Catalysts Based on Wastes of Ferroalloy Production

Authors: Zhanat Shomanova, Ruslan Safarov, Yuri Nosenko, Zheneta Tashmuchambetova, Alima Zharmagambetova

Abstract:

An effective way of utilization of ferroalloy production wastes is preparing hydrocarbon refining catalysts from them. It is possible due to accordable transition metals containing in the wastes. In the work, we are presenting the results on elemental analysis of sludge samples from Aksu ferroalloy plant (Aksu, Kazakhstan), method of catalysts preparing, results of physical-chemical analysis of obtained catalysts (X-ray analysis, electron microscopy, the BET method etc.), results of using the catalysts in some hydrocarbons refining processes such as hydrocracking of rubber waste, cracking of gasoil, oxidation of cyclohexane. The main results of catalytic activity research are: a) In hydrocracking of rubber waste 64.9% of liquid products were fuel fractions; b) In cracking of gasoil conversion was 51% and selectivity by liquid products was 99%; c) In oxidation of cyclohexane the maximal product yield 87.9% and selectivity by cyclohexanol 93.0% were achieved.

Keywords: catalyst, cyclohexane oxidation, ferroalloy production waste, gasoil cracking

Procedia PDF Downloads 263
2327 Simultaneous Esterification and Transesterification of High FFA Jatropha Oil Using Reactive Distillation for Biodiesel Production

Authors: Ratna Dewi Kusumaningtyas, Prima Astuti Handayani, Arief Budiman

Abstract:

Reactive Distillation (RD) is a multifunctional reactor which integrates chemical reaction with in situ separation to shift the equilibrium towards the product formation. Thus, it is suitable for equilibrium limited reaction such as esterification and transesterification to enhance the reaction conversion. In this work, the application of RD for high FFA oil esterification-transterification for biodiesel production using sulphuric acid catalyst has been studied. Crude Jatropha Oil with FFA content of 30.57% was utilized as the feedstock. Effects of the catalyst concentration and molar ratio of the alcohol to oils were also investigated. It was revealed that best result was obtained with sulphuric acid catalyst (reaction conversion of 94.71% and FFA content of 1.62%) at 60C, molar ratio of methanol to FFA of 30:1, and catalyst loading of 3%. After undergoing esterification reaction, jatropha oil was then transesterified to produce biodiesel. Transesterification reaction was performed in the presence of NaOH catalyst in RD column at 60C, molar ratio of methanol to oil of 6:1, and catalyst concentration of 1%. It demonstrated that biodiesel produced in this work agreed with the Indonesian National and ASTM standard of fuel.

Keywords: reactive distillation, biodiesel, esterification, transesterification

Procedia PDF Downloads 448
2326 Motivation and Quality Teaching of Chinese Language: Analysis of Secondary School Studies

Authors: Robyn Moloney, HuiLing Xu

Abstract:

Many countries wish to produce Asia-literate citizens, through language education. International contexts of Chinese language education are seeking pedagogical innovation to meet local contextual factors frequently holding back learner success. In multicultural Australia, innovative pedagogy is urgently needed to support motivation in sustained study, with greater strategic integration of technology. This research took a qualitative approach to identify need and solutions. The paper analyses strategies that three secondary school teachers are adopting to meet specific challenges in the Australian context. The data include teacher interviews, classroom observations and student interviews. We highlight the use of task-based learning and differentiated teaching for multilevel classes, and the role which digital technologies play in facilitating both areas. The strategy examples are analysed in reference both to a research-based framework for describing quality teaching, and to current understandings of motivation in language learning. The analysis of data identifies learning featuring deep knowledge, higher-order thinking, engagement, social support, utilisation of background knowledge, and connectedness, all of which work towards the learners having a sense of autonomy and an imagination of becoming an adult Chinese language user.

Keywords: Chinese pedagogy, digital technologies, motivation, secondary school

Procedia PDF Downloads 263
2325 Building a Model for Information Literacy Education in School Settings

Authors: Tibor Koltay

Abstract:

Among varied new literacies, information literacy is not only the best-known one but displays numerous models and frameworks. Nonetheless, there is still a lack of its complex theoretical model that could be applied to information literacy education in public (K12) education, which often makes use of constructivist approaches. This paper aims to present the main features of such a model. To develop a complex model, the literature and practice of phenomenographic and sociocultural theories, as well as discourse analytical approaches to information literacy, have been reviewed. Besides these constructivist and expressive based educational approaches, the new model is intended to include the innovation of coupling them with a cognitive model that takes developing informational and operational knowledge into account. The convergences between different literacies (information literacy, media literacy, media and information literacy, and data literacy) were taken into account, as well. The model will also make use of a three-country survey that examined secondary school teachers’ attitudes to information literacy. The results of this survey show that only a part of the respondents feel properly prepared to teach information literacy courses, and think that they can teach information literacy skills by themselves, while they see a librarian as an expert in educating information literacy. The use of the resulting model is not restricted to enhancing theory. It is meant to raise the level of awareness about information literacy and related literacies, and the next phase of the model’s development will be a pilot study that verifies the usefulness of the methodology for practical information literacy education in selected Hungarian secondary schools.

Keywords: communication, data literacy, discourse analysis, information literacy education, media and information literacy media literacy, phenomenography, public education, sociocultural theory

Procedia PDF Downloads 140
2324 Evaluation of the Operating Parameters for Biodiesel Production Using a Membrane Reactor

Authors: S. S. L. Andrade, E. A. Souza, L. C. L. Santos, C. Moraes, A. K. C. L. Lobato

Abstract:

Biodiesel production using membrane reactor has become increasingly studied, because this process minimizes some of the main problems encountered in the biodiesel purification. The membrane reactor tries to minimize post-treatment steps, resulting in cost savings and enabling the competitiveness of biodiesel produced by homogeneous alkaline catalysis. This is due to the reaction and product separation may occur simultaneously. In order to evaluate the production of biodiesel from soybean oils using a tubular membrane reactor, a factorial experimental design was conducted (2³) to evaluate the influence of following variables: temperature (45 to 60 °C), catalyst concentration (0.5 to 1% by weight) and molar ratio of oil/methanol (1/6 to 1/9). In addition, the parametric sensitivity was evaluated by the analysis of variance and model through the response surface. The results showed a tendency of influence of the variables in the reaction conversion. The significance effect was higher for the catalyst concentration followed by the molar ratio of oil/methanol and finally the temperature. The best result was obtained under the conditions of 1% catalyst (KOH), molar ratio oil/methanol of 1/9 and temperature of 60 °C, resulting in an ester content of 99.07%.

Keywords: biodiesel production, factorial design, membrane reactor, soybean oil

Procedia PDF Downloads 369
2323 Estimation and Validation of Free Lime Analysis of Clinker by Quantitative Phase Analysis Using X ray diffraction

Authors: Suresh Palla, Kalpna Sharma, Gaurav Bhatnagar, S. K. Chaturvedi, B. N. Mohapatra

Abstract:

Determining the content of free lime is especially important to judge reactivity of the raw materials and clinker quality. The free lime limit isn’t the same for all cements; it depends on several factors, especially the temperature reached during the cooking and the grain size distribution in cement after grinding. Estimation of free lime by conventional method is influenced by the presence of portlandite and misleads the actual free lime content in the clinker for quality check up conditions. To ensure the product quality according to the standard specifications in terms of within the quality limits or not, a reliable, precise, and very reproducible method to quantify the relative phase abundances in the Portland Cement clinker and Portland Cements is to use X-ray diffraction (XRD) in combination with the Rietveld method. In the present study, a methodology was proposed using XRD to validate the obtained results of free lime by conventional method. The XRD and TG/DTA results confirm the presence of portlandite in the clinker to take the decision on the obtained free lime results through conventional method.

Keywords: free lime, quantitative phase analysis, conventional method, x ray diffraction

Procedia PDF Downloads 131
2322 Effect Of E-banking On Performance Efficiency Of Commercial Banks In Pakistan

Authors: Naeem Hassan

Abstract:

The study intended to investigate the impact of the e banking system on the performance efficiency of the commercial banks in KP, Pakistan. In addition to this main purpose, the study also aimed at analyzing the impact of e banking on the service quality as well as satisfaction of the customers using e banking system. More over, the focus was also given to highlight the risks involved in the e banking system. The researcher has adopted the quantitative methodology in the study. in order to reach concrete finding, the researcher has analyzed the secondary data taken from the annual reports of selected banks and State bank of Pakistan as well as the primary data collected through the self-administrated questionnaire from the participants selected for the current study. The study highlighted that there is a significant impact of e banking on the financial efficiency on the commercial banks in KP, Pakistan. Additionally, the results of the study also show that the online banking is having significant effects on the customer satisfaction. The researcher recommends on the bases of findings that commercial banks should continue to adopt new technologies which will improve their margins and hence their net profit after tax in order to attract more investors. Additionally, commercial bank needs to minimize the time and risk in e-banking to attract more customers which will improve their net profit. Furthermore, the study findings also recommend the banking policy makers should also review policies related to promotion of innovation adoption and transfer of technology. Commercial banking system should encourage adoption of innovations that will improve profit of the banking industry.

Keywords: E-banking, performance efficiency, commercial banks, effect

Procedia PDF Downloads 65
2321 Mobile Assembly of Electric Vehicles: Decentralized, Low-Invest and Flexible

Authors: Achim Kampker, Kai Kreiskoether, Johannes Wagner, Sarah Fluchs

Abstract:

The growing speed of innovation in related industries requires the automotive industry to adapt and increase release frequencies of new vehicle derivatives which implies a significant reduction of investments per vehicle and ramp-up times. Emerging markets in various parts of the world augment the currently dominating established main automotive markets. Local content requirements such as import tariffs on final products impede the accessibility of these micro markets, which is why in the future market exploitation will not be driven by pure sales activities anymore but rather by setting up local assembly units. The aim of this paper is to provide an overview of the concept of decentralized assembly and to discuss and critically assess some currently researched and crucial approaches in production technology. In order to determine the scope in which complementary mobile assembly can be profitable for manufacturers, a general cost model is set up and each cost driver is assessed with respect to varying levels of decentralization. One main result of the paper is that the presented approaches offer huge cost-saving potentials and are thus critical for future production strategies. Nevertheless, they still need to be further exploited in order for decentralized assembly to be profitable for companies. The optimal level of decentralization must, however, be specifically determined in each case and cannot be defined in general.

Keywords: automotive assembly, e-mobility, production technology, release capability, small series assembly

Procedia PDF Downloads 192
2320 Suburban Large Residential Area Development Strategy with an Example of Liangzhu Culture Village in Hangzhou

Authors: Liang Fang

Abstract:

The development of the large suburban residential area is a product of the leap development during the rapid urbanization process in China. On the process of the large-scale development of large settlements in a short time, various problems arose in the suburban residential area, such as spatial layout being disorder, basic facilities construction lagging behind and being unreasonable, residential neighborhood space and street culture missing. Aimed at the contradictions mentioned above, exploring a way is imminent to construct appropriate residential area. We select a typical Liangzhu Culture Village in Hangzhou and put forward functional composite residential area of fine development strategy, along which business promotes and assists community autonomy and then a good community culture is constructed. All in all, the development and construction mode, contributing to an all-people and full-time participation, is beneficial to create a harmonious community of sustainable development, which gives good implication to a single enterprise development city real estate projects.

Keywords: community autonomy, development and construction mode, functional composite, suburban large residential area

Procedia PDF Downloads 351
2319 A Model for Optimizing Inventory Replenishment and Shelf Space Management in Retail Industries

Authors: Nermine A. Harraz, Aliaa Abouali

Abstract:

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

Procedia PDF Downloads 348
2318 Hybrid Model of an Increasing Unique Consumer Value on Purchases that Influences the Consumer Loyalty and the Pursuit of a Sustainable Competitive Advantage from the Institutions in Jakarta

Authors: Wilhelmus Hary Susilo

Abstract:

The marketplace would have at least some resources that are unique (e.g., well communication, knowledgeable employees, consumer value, effective transaction, efficient production processes and institutional branding). The institutions should have an advantage in resources and then could lead to positions of competitive advantage. These major challenges focus on increasing unique consumer value on reliable purchases that influence of loyalty and pursuit of a sustainable competitive advantage from the Institutions in Jakarta. Furthermore, a research was conducted with a quantitative method and a confirmatory strategic research design. The research resulted in entire confirmatory factors analysis (1st CFA and 2nd CFA) among variables pertains to; χ2//Df (9.30, 4.38, 6.95, 2.76, 2.97, 2.91, 2.32 and 6.90), GFI (0.72, 0.82, 0.82, 0.81, 0.78, 0.84, 0.89 and 0.70) and CFI (0.90, 0.95, 0.93, 0.92, 0.95, 0.91, 0.96 and 0.89), which indicates a good model. Furthermore, the hybrid model is well fit with, χ2//Df=1.84, P value = 0.00, RMSEA = 0.076, GFI = 0.76, NNFI= 0.95, PNFI= 0.82, IFI= 0.96, RFI= 0.91, AGFI= 0.71 and CFI= 0.96. The result was significant hypothesis, i.e. variables of communitization marketing 3.0 and price perception influenced to unique value of consumer with tvalue =4.46 and 5.89. Furthermore, the consumers value influenced the purchasing with t value = 5.94. Additionally, the loyalty, the ‘communitization’, and the character building marketing 3.0 are affecting the pursuit of a sustainable competitive advantage from institutions with t value = 7.57, -2.12, and 2.04. Finally, the test between the most superior variable dimensions is significantly correlated between INOV and WDES, RESPON and ATT covariance matrix value= 0.72 and 0.71. Thus, ‘communitization’ and character building marketing 3.0 with dimensions of responsibility and technologies would increase a competitive advantage with the dimensions of the innovation and the job design from the institutions.

Keywords: consumer loyalty, marketing 3.0, unique consumer value, purchase, sustainable competitive advantage

Procedia PDF Downloads 282
2317 Roof Integrated Photo Voltaic with Air Collection on Glasgow School of Art Campus Building: A Feasibility Study

Authors: Rosalie Menon, Angela Reid

Abstract:

Building integrated photovoltaic systems with air collectors (hybrid PV-T) have proved successful however there are few examples of their application in the UK. The opportunity to pull heat from behind the PV system to contribute to a building’s heating system is an efficient use of waste energy and its potential to improve the performance of the PV array is well documented. As part of Glasgow School of Art’s estate expansion, the purchase and redevelopment of an existing 1950’s college building was used as a testing vehicle for the hybrid PV-T system as an integrated element of the upper floor and roof. The primary objective of the feasibility study was to determine if hybrid PV-T was technically and financially suitable for the refurbished building. The key consideration was whether the heat recovered from the PV panels (to increase the electrical efficiency) can be usefully deployed as a heat source within the building. Dynamic thermal modelling (IES) and RetScreen Software were used to carry out the feasibility study not only to simulate overshadowing and optimise the PV-T locations but also to predict the atrium temperature profile; predict the air load for the proposed new 4 No. roof mounted air handling units and to predict the dynamic electrical efficiency of the PV element. The feasibility study demonstrates that there is an energy reduction and carbon saving to be achieved with each hybrid PV-T option however the systems are subject to lengthy payback periods and highlights the need for enhanced government subsidy schemes to reward innovation with this technology in the UK.

Keywords: building integrated, photovoltatic thermal, pre-heat air, ventilation

Procedia PDF Downloads 166
2316 The Conceptual Design Model of an Automated Supermarket

Authors: V. Sathya Narayanan, P. Sidharth, V. R. Sanal Kumar

Abstract:

The success of any retail business is predisposed by its swift response and its knack in understanding the constraints and the requirements of customers. In this paper a conceptual design model of an automated customer-friendly supermarket has been proposed. In this model a 10-sided, space benefited, regular polygon shaped gravity shelves have been designed for goods storage and effective customer-specific algorithms have been built-in for quick automatic delivery of the randomly listed goods. The algorithm is developed with two main objectives, viz., delivery time and priority. For meeting these objectives the randomly listed items are reorganized according to the critical-path of the robotic arm specific to the identified shop and its layout and the items are categorized according to the demand, shape, size, similarity and nature of the product for an efficient pick-up, packing and delivery process. We conjectured that the proposed automated supermarket model reduces business operating costs with much customer satisfaction warranting a win-win situation.

Keywords: automated supermarket, electronic shopping, polygon-shaped rack, shortest path algorithm for shopping

Procedia PDF Downloads 400
2315 Use of Visual, Animating Narrative in an Entrepreneurial Storytelling: A Case Study of Greenesignit! Card Game, Educational and Brainstorming Tool for Development of Sustainable Products

Authors: Maja S. Todorovic

Abstract:

This paper aims to promote entrepreneurial storytelling by exploring new ideas and learning practices. An entrepreneur needs to be a ‘storyteller’, an ‘epic hero’, capable of offering an emotional connection to his audience, a character with whom audience can identify with, rejoice, suffer, celebrate, fail – simply experience everything. In other words, a successful entrepreneur is giving tangible experience through his business story and that’s what makes his story and business alive. Use of mythology, eulogy, metaphor, epic, fairytales and cartoons, permeated with humor and sudden twists is a winning recipe for a business story that captures attention. In the business case of the Greenesignit! Card game, (educational and brainstorming tool for development of sustainable products) we will demonstrate how an entrepreneur successfully used visual narrative to communicate his story and at the same time as a vehicle to transmute his message in learning tool and product development.

Keywords: animating narrative, entrepreneur, Greeneisgnit! card game, visual storytelling

Procedia PDF Downloads 388
2314 Balancing Security and Human Rights: A Comprehensive Approach to Security and Defense Policy

Authors: Babatunde Osabiya

Abstract:

Cybersecurity has emerged as a pressing policy problem in recent years, affecting individuals, businesses, and governments worldwide. This research paper aims to critically review the literature on cybersecurity policy and apply policy theory to propose a policy approach that balances the freedom to access and use technology with the human rights risks and threats posed by cyber. Drawing on various credible sources, the paper examines the scale and seriousness of cyber threats, highlighting the growing threat posed by cybercriminals, hackers, and nation-states. The paper also identifies the key challenges facing policymakers, including the need for more significant investment in cybersecurity research and development and the importance of balancing the benefits of technological innovation with the risks to privacy, security, and human rights. To address these challenges, the paper proposes a policy approach emphasizing investing in cybersecurity research and development to maintain a technological edge over potential adversaries. This approach also highlights the need for greater collaboration between government, industry, and civil society to develop effective cybersecurity policies and practices that protect the rights and freedoms of people while mitigating the risks posed by cyber threats. This paper will contribute to the growing body of literature on cybersecurity policy and offers a policy framework for addressing this critical policy challenge.

Keywords: security risk, legal framework, cyber security and policy, national security

Procedia PDF Downloads 88
2313 Going beyond the Traditional Offering in Modern Financial Services

Authors: Cam-Duc Au, Philippe Krahnhof, Lars Klingenberger

Abstract:

German banks are experiencing harsh times due to rising costs and declining profits. On the one hand, acquisition costs for new customers are increasing because of the rise of innovative FinTechs, which entered the market with one specific goal: disrupting the whole financial services industry by occupying parts of the value chain. On the other hand, the COVID-19 pandemic, as well as an overall low level of interest rates, cause the traditional source of bank income to still drain. Consequently, traditional banks must rethink their strategies or their identity, so to speak, because they go beyond their traditional offering of products and services. Having said that, banks may create new sources of income to stabilize their economic situation and replenish profits. The given paper aims to research the opportunities of establishing an ecosystem model. In doing so, the paper contributes to the current literature debate and provide reference points for traditional banks to start. Firstly, a systematic literature review introduces a selection of research works the author regards as significant. In the following step, quantitative data from an online survey with bank clients are analysed by means of descriptive statistics to show the perspective of Germans with regards to an ecosystem offering. The final research findings indicate that the surveyed retail banking clients express interest in the new offer, whereas non-financial products and services are of lower interest than their financial pendants.

Keywords: banking, ecosystem, disruptive innovation, digital offering, open-banking-strategy, financial services industry

Procedia PDF Downloads 130
2312 A Gauge Repeatability and Reproducibility Study for Multivariate Measurement Systems

Authors: Jeh-Nan Pan, Chung-I Li

Abstract:

Measurement system analysis (MSA) plays an important role in helping organizations to improve their product quality. Generally speaking, the gauge repeatability and reproducibility (GRR) study is performed according to the MSA handbook stated in QS9000 standards. Usually, GRR study for assessing the adequacy of gauge variation needs to be conducted prior to the process capability analysis. Traditional MSA only considers a single quality characteristic. With the advent of modern technology, industrial products have become very sophisticated with more than one quality characteristic. Thus, it becomes necessary to perform multivariate GRR analysis for a measurement system when collecting data with multiple responses. In this paper, we take the correlation coefficients among tolerances into account to revise the multivariate precision-to-tolerance (P/T) ratio as proposed by Majeske (2008). We then compare the performance of our revised P/T ratio with that of the existing ratios. The simulation results show that our revised P/T ratio outperforms others in terms of robustness and proximity to the actual value. Moreover, the optimal allocation of several parameters such as the number of quality characteristics (v), sample size of parts (p), number of operators (o) and replicate measurements (r) is discussed using the confidence interval of the revised P/T ratio. Finally, a standard operating procedure (S.O.P.) to perform the GRR study for multivariate measurement systems is proposed based on the research results. Hopefully, it can be served as a useful reference for quality practitioners when conducting such study in industries. Measurement system analysis (MSA) plays an important role in helping organizations to improve their product quality. Generally speaking, the gauge repeatability and reproducibility (GRR) study is performed according to the MSA handbook stated in QS9000 standards. Usually, GRR study for assessing the adequacy of gauge variation needs to be conducted prior to the process capability analysis. Traditional MSA only considers a single quality characteristic. With the advent of modern technology, industrial products have become very sophisticated with more than one quality characteristic. Thus, it becomes necessary to perform multivariate GRR analysis for a measurement system when collecting data with multiple responses. In this paper, we take the correlation coefficients among tolerances into account to revise the multivariate precision-to-tolerance (P/T) ratio as proposed by Majeske (2008). We then compare the performance of our revised P/T ratio with that of the existing ratios. The simulation results show that our revised P/T ratio outperforms others in terms of robustness and proximity to the actual value. Moreover, the optimal allocation of several parameters such as the number of quality characteristics (v), sample size of parts (p), number of operators (o) and replicate measurements (r) is discussed using the confidence interval of the revised P/T ratio. Finally, a standard operating procedure (S.O.P.) to perform the GRR study for multivariate measurement systems is proposed based on the research results. Hopefully, it can be served as a useful reference for quality practitioners when conducting such study in industries.

Keywords: gauge repeatability and reproducibility, multivariate measurement system analysis, precision-to-tolerance ratio, Gauge repeatability

Procedia PDF Downloads 255
2311 A Regulator's Assessment of Consumer Risk When Evaluating a User Test for an Umbrella Brand Name in an over the Counter Medicine

Authors: A. Bhatt, C. Bassi, H. Farragher, J. Musk

Abstract:

Background: All medicines placed on the EU market are legally required to be accompanied by labeling and package leaflet, which provide comprehensive information, enabling its safe and appropriate use. Mock-ups with results of assessments using a target patient group must be submitted for a marketing authorisation application. Consumers need confidence in non-prescription, OTC medicines in order to manage their minor ailments and umbrella brands assist purchasing decisions by assisting easy identification within a particular therapeutic area. A number of regulatory agencies have risk management tools and guidelines to assist in developing umbrella brands for OTC medicines, however assessment and decision making is subjective and inconsistent. This study presents an evaluation in the UK following the US FDA warning concerning methaemoglobinaemia following 21 reported cases (11 children under 2 years) caused by OTC oral analgesics containing benzocaine. METHODS: A standard face to face, 25 structured task based user interview testing methodology using a standard questionnaire and rating scale in consumers aged 15-91 years, was conducted independently between June and October 2015 in their homes. Whether individuals could discriminate between the labelling, safety information and warnings on cartons and PILs between 3 different OTC medicines packs with the same umbrella name was evaluated. Each pack was presented with differing information hierarchy using, different coloured cartons, containing the 3 different active ingredients, benzocaine (oromucosal spray) and two lozenges containing 2, 4, dichlorobenzyl alcohol, amylmetacresol and hexylresorcinol respectively (for the symptomatic relief of sore throat pain). The test was designed to determine whether warnings on the carton and leaflet were prominent, accessible to alert users that one product contained benzocaine, risk of methaemoglobinaemia, and refer to the leaflet for the signs of the condition and what to do should this occur. Results: Two consumers did not locate the warnings on the side of the pack, eventually found them on the back and two suggestions to further improve accessibility of the methaemoglobinaemia warning. Using a gold pack design for the oromucosal spray, all consumers could differentiate between the 3 drugs, minimum age particulars, pharmaceutical form and the risk factor methaemoglobinaemia. The warnings for benzocaine were deemed to be clear or very clear; appearance of the 3 packs were either very well differentiated or quite well differentiated. The PIL test passed on all criteria. All consumers could use the product correctly, identify risk factors ensuring the critical information necessary for the safe use was legible and easily accessible so that confusion and errors were minimised. Conclusion: Patients with known methaemoglobinaemia are likely to be vigilant in checking for benzocaine containing products, despite similar umbrella brand names across a range of active ingredients. Despite these findings, the package design and spray format were not deemed to be sufficient to mitigate potential safety risks associated with differences in target populations and contraindications when submitted to the Regulatory Agency. Although risk management tools are increasingly being used by agencies to assist in providing objective assurance of package safety, further transparency, reduction in subjectivity and proportionate risk should be demonstrated.

Keywords: labelling, OTC, risk, user testing

Procedia PDF Downloads 302
2310 A Model of Empowerment Evaluation of Knowledge Management in Private Banks Using Fuzzy Inference System

Authors: Nazanin Pilevari, Kamyar Mahmoodi

Abstract:

The purpose of this research is to provide a model based on fuzzy inference system for evaluating empowerment of Knowledge management. The first prototype of the research was developed based on the study of literature. In the next step, experts were provided with these models and after implementing consensus-based reform, the views of Fuzzy Delphi experts and techniques, components and Index research model were finalized. Culture, structure, IT and leadership were considered as dimensions of empowerment. Then, In order to collect and extract data for fuzzy inference system based on knowledge and Experience, the experts were interviewed. The values obtained from designed fuzzy inference system, made review and assessment of the organization's empowerment of Knowledge management possible. After the design and validation of systems to measure indexes ,empowerment of Knowledge management and inputs into fuzzy inference) in the AYANDEH Bank, a questionnaire was used. In the case of this bank, the system output indicates that the status of empowerment of Knowledge management, culture, organizational structure and leadership are at the moderate level and information technology empowerment are relatively high. Based on these results, the status of knowledge management empowerment in AYANDE Bank, was moderate. Eventually, some suggestions for improving the current situation of banks were provided. According to studies of research history, the use of powerful tools in Fuzzy Inference System for assessment of Knowledge management and knowledge management empowerment such an assessment in the field of banking, are the innovation of this Research.

Keywords: knowledge management, knowledge management empowerment, fuzzy inference system, fuzzy Delphi

Procedia PDF Downloads 353
2309 Use of Fine Recycled Aggregates in Normal Concrete Production

Authors: Vignesh Pechiappan Ayyathurai, Mukesh Limbachiya, Hsein Kew

Abstract:

There is a growing interest in using recycled, secondary use and industrial by product materials in high value commercial applications. Potential high volume applications include use of fine aggregate in flowable fill or as a component in manufactured aggregates. However, there is much scientific, as well as applied research needed in this area due to lack to availability of data on the mechanical and environmental properties of elements or products produced using fine recycled aggregates. The principle objectives of this research are to synthesize existing data on the beneficial reuse of fine recycled materials and to develop extensive testing programme for assessing and establishing engineering and long term durability properties of concrete and other construction products produced using such material for use in practical application widely. This paper is a research proposal for PhD admission. The proposed research aims to supply the necessary technical, as well as practical information on fine recycled aggregate concrete to the construction industry for promoting its wider use within the construction industry. Furthermore, to disseminate research outcomes to the local authorities for consideration of use of fine recycled aggregate concrete in various applications.

Keywords: FRA, fine aggregate, recycling, concrete

Procedia PDF Downloads 318
2308 Bio-Oil Production and Chromatographic Characterization from the Pyrolysis of Oil Palm Empty Fruit Bunches

Authors: Arif Ferdiyanto, Fajar Hamida, Arif Hidayat

Abstract:

Oil palm empty fruit bunches, derived biomass available in Indonesia, is one of the potential biomass to produce biofuels like bio-oil due to its abundant supply and favorable physicochemical characteristics. An interesting alternative of utilising the oil palm empty fruit bunches is in the production of bio-oil by pyrolysis. Pyrolysis of oil palm empty fruit bunches to bio-oil is being considered for national energy security and environmental advantages. The aim of this study was to produce bio-oil by pyrolysis of oil palm empty fruit bunches at various temperature and observe its detailed chemical composition. The biomass was submitted to a pyrolysis in a batch reactor. Experiments were carried out at a temperature range of 450–600°C and heating rate range of 10-20°C/min. The yield of bio-oil was found to be maximum at the temperature of 600°C. The bio-oils detailed compositions were investigated using FTIR and GC-MS. The bio-char produced as a co-product can be a potential soil amendment with multiple benefits including soil fertility and for solid fuel applications that also contributes to the preservation of the environment. The present investigation suggests the suitability of oil palm empty fruit bunches as a potential feedstock for exploitation of energy and biomaterials through pyrolysis process.

Keywords: bio-oil, oil palm empty fruit bunches, pyrolysis, renewable energy

Procedia PDF Downloads 335
2307 Multi-Criteria Evaluation of IDS Architectures in Cloud Computing

Authors: Elmahdi Khalil, Saad Enniari, Mostapha Zbakh

Abstract:

Cloud computing promises to increase innovation and the velocity with witch applications are deployed, all while helping any enterprise meet most IT service needs at a lower total cost of ownership and higher return investment. As the march of cloud continues, it brings both new opportunities and new security challenges. To take advantages of those opportunities while minimizing risks, we think that Intrusion Detection Systems (IDS) integrated in the cloud is one of the best existing solutions nowadays in the field. The concept of intrusion detection was known since past and was first proposed by a well-known researcher named Anderson in 1980's. Since that time IDS's are evolving. Although, several efforts has been made in the area of Intrusion Detection systems for cloud computing environment, many attacks still prevail. Therefore, the work presented in this paper proposes a multi criteria analysis and a comparative study between several IDS architectures designated to work in a cloud computing environments. To achieve this objective, in the first place we will search in the state of the art of several consistent IDS architectures designed to work in a cloud environment. Whereas, in a second step we will establish the criteria that will be useful for the evaluation of architectures. Later, using the approach of multi criteria decision analysis Mac Beth (Measuring Attractiveness by a Categorical Based Evaluation Technique we will evaluate the criteria and assign to each one the appropriate weight according to their importance in the field of IDS architectures in cloud computing. The last step is to evaluate architectures against the criteria and collecting results of the model constructed in the previous steps.

Keywords: cloud computing, cloud security, intrusion detection/prevention system, multi-criteria decision analysis

Procedia PDF Downloads 465
2306 Durability of Wood Shavel Composites with Environmental Friendly Based Binder

Authors: Jul Endawati

Abstract:

The composite element of 20 mm in thickness were manufactured using high volume fly ash, silica fume as alternative hydraulic binders and Portland cement Type II. Pine wood shavel as by product of local small wood working industries were used as the composite filler. The elements were given in situ wet and dry treatment for 9 months. Visually there is no fiber degradation as a result of the interaction of the environment. The assessment were done to the elements bending strength and dimensional properties. Increase in MoR after 180 days of exposure shown that mechanically this degradation is not seen yet. The increment of MoR (213%) compare to that of 28 days might be affected by the formation of calcium hydroxide (CH) or ettringite in the transition zone. The use of pozzolan showed also a delay or minimize degradation of composites while improving the pore structure, and minimize the mineralization of the fiber bond with the cement matrix. The water absorption is 4,22% at 180 days, 7,94% at 120 days and 12,38% at 28 days, in line with the 68% decrease in Thickness Swelling (TS). This unoccured degradation could also be affected by the presence of silica fume in the binder matrix. After 270 days of exposure under tropical condition, the flexural strength started to decrease.

Keywords: durability, fly ash, natural fibre, silica fume

Procedia PDF Downloads 260
2305 Status of Bio-Graphene Extraction from Biomass: A Review

Authors: Simon Peter Wafula, Ziporah Nakabazzi Kitooke

Abstract:

Graphene is a carbon allotrope made of a two-dimensional shape. This material has got a number of materials researchers’ interest due to its properties that are special compared to ordinary material. Graphene is thought to enhance a number of material properties in the manufacturing, energy, and construction industries. Many studies consider graphene to be a wonder material, just like plastic in the 21st century. This shows how much should be invested in graphene research. This review highlights the status of graphene extracted from various biomass sources together with their appropriate extraction techniques, including the pretreatment methods for a better product. The functional groups and structure of graphene extracted using several common methods of synthesis are in this paper as well. The review explores methods like chemical vapor deposition (CVD), hydrothermal, chemical exfoliation method, liquid exfoliation, and Hummers. Comparative analysis of the various extraction techniques gives an insight into each of their advantages, challenges, and potential scalability. The review also highlights the pretreatment process for biomass before carbonation for better quality of bio-graphene. The various graphene modes, as well as their applications, are in this study. Recommendations for future research for improving the efficiency and sustainability of bio-graphene are highlighted.

Keywords: exfoliation, nanomaterials, biochar, large-scale, two-dimension

Procedia PDF Downloads 44
2304 Multi-Modal Visualization of Working Instructions for Assembly Operations

Authors: Josef Wolfartsberger, Michael Heiml, Georg Schwarz, Sabrina Egger

Abstract:

Growing individualization and higher numbers of variants in industrial assembly products raise the complexity of manufacturing processes. Technical assistance systems considering both procedural and human factors allow for an increase in product quality and a decrease in required learning times by supporting workers with precise working instructions. Due to varying needs of workers, the presentation of working instructions leads to several challenges. This paper presents an approach for a multi-modal visualization application to support assembly work of complex parts. Our approach is integrated within an interconnected assistance system network and supports the presentation of cloud-streamed textual instructions, images, videos, 3D animations and audio files along with multi-modal user interaction, customizable UI, multi-platform support (e.g. tablet-PC, TV screen, smartphone or Augmented Reality devices), automated text translation and speech synthesis. The worker benefits from more accessible and up-to-date instructions presented in an easy-to-read way.

Keywords: assembly, assistive technologies, augmented reality, manufacturing, visualization

Procedia PDF Downloads 162
2303 The Stability of Vegetable-Based Synbiotic Drink during Storage

Authors: Camelia Vizireanu, Daniela Istrati, Alina Georgiana Profir, Rodica Mihaela Dinica

Abstract:

Globally, there is a great interest in promoting the consumption of fruit and vegetables to improve health. Due to the content of essential compounds such as antioxidants, important amounts of fruits and vegetables should be included in the daily diet. Juices are good sources of vitamins and can also help increase overall fruit and vegetable consumption. Starting from this trend (introduction into the daily diet of vegetables and fruits) as well as the desire to diversify the range of functional products for both adults and children, a fermented juice was made using probiotic microorganisms based on root vegetables, with potential beneficial effects in the diet of children, vegetarians and people with lactose intolerance. The three vegetables selected for this study, red beet, carrot, and celery bring a significant contribution to functional compounds such as carotenoids, flavonoids, betalain, vitamin B and C, minerals and fiber. By fermentation, the functional value of the vegetable juice increases due to the improved stability of these compounds. The combination of probiotic microorganisms and vegetable fibers resulted in a nutrient-rich synbiotic product. The stability of the nutritional and sensory qualities of the obtained synbiotic product has been tested throughout its shelf life. The evaluation of the physico-chemical changes of the synbiotic drink during storage confirmed that: (i) vegetable juice enriched with honey and vegetable pulp is an important source of nutritional compounds, especially carbohydrates and fiber; (ii) microwave treatment used to inhibit pathogenic microflora did not significantly affect nutritional compounds in vegetable juice, vitamin C concentration remained at baseline and beta-carotene concentration increased due to increased bioavailability; (iii) fermentation has improved the nutritional quality of vegetable juice by increasing the content of B vitamins, polyphenols and flavonoids and has a good antioxidant capacity throughout the shelf life; (iv) the FTIR and Raman spectra have highlighted the results obtained using physicochemical methods. Based on the analysis of IR absorption frequencies, the most striking bands belong to the frequencies 3330 cm⁻¹, 1636 cm⁻¹ and 1050 cm⁻¹, specific for groups of compounds such as polyphenols, carbohydrates, fatty acids, and proteins. Statistical data processing revealed a good correlation between the content of flavonoids, betalain, β-carotene, ascorbic acid and polyphenols, the fermented juice having a stable antioxidant activity. Also, principal components analysis showed that there was a negative correlation between the evolution of the concentration of B vitamins and antioxidant activity. Acknowledgment: This study has been founded by the Francophone University Agency, Project Réseau régional dans le domaine de la santé, la nutrition et la sécurité alimentaire (SaIN), No. at Dunarea de Jos University of Galati 21899/ 06.09.2017 and by the Sectorial Operational Programme Human Resources Development of the Romanian Ministry of Education, Research, Youth and Sports trough the Financial Agreement POSDRU/159/1.5/S/132397 ExcelDOC.

Keywords: bioactive compounds, fermentation, synbiotic drink from vegetables, stability during storage

Procedia PDF Downloads 148