Search results for:
transaction costs

Authors: Jirarat Teeravaraprug, Usawadee Inklay

Abstract:

This paper gave an attempt in prioritizing information technologies that organizations should give concentration. The case study was organizations in the automotive assembly industry in Thailand. Data were first collected to gather all information technologies known and used in the automotive assembly industry in Thailand. Five experts from the industries were surveyed based on the concept of fuzzy DEMATEL. The information technologies were categorized into six groups, which were communication, transaction, planning, organization management, warehouse management, and transportation. The cause groups of information technologies for each group were analysed and presented. Moreover, the relationship between the used and the significant information technologies was given. Discussions based on the used information technologies and the research results are given.

Keywords: information technology, automotive assembly industry, fuzzy DEMATEL

Procedia PDF Downloads 310

Authors: Daniel Olshansky, Ramiro Rodrıguez Colmeiro

Abstract:

Relay Mining presents a scalable solution employing probabilistic mechanisms and crypto-economic incentives to estimate RPC volume usage, facilitating decentralized multitenant rate limiting. Network traffic from individual applications can be concurrently serviced by multiple RPC service providers, with costs, rewards, and rate limiting governed by a native cryptocurrency on a distributed ledger. Building upon established research in token bucket algorithms and distributed rate-limiting penalty models, our approach harnesses a feedback loop control mechanism to adjust the difficulty of mining relay rewards, dynamically scaling with network usage growth. By leveraging crypto-economic incentives, we reduce coordination overhead costs and introduce a mechanism for providing RPC services that are both geopolitically and geographically distributed.

Keywords: remote procedure call, crypto-economic, commit-reveal, decentralization, scalability, blockchain, rate limiting, token bucket

Procedia PDF Downloads 27

Authors: Hamed Saremi, Shahla Saremi

Abstract:

In this study, control and management of construction projects is evaluated through developing a dynamic model in which some means are used in order to evaluating planning assumptions and reviewing the effectiveness of some project control policies based on previous researches about time, cost, project schedule pressure management, source management, project control, adding elements and sub-systems from cost management such as estimating consumption budget from budget due to costs, budget shortage effects and etc. using sensitivity analysis, researcher has evaluated introduced model that during model simulation by VENSIM software and assuming optimistic times and adding information about doing job and changes rate and project is forecasted with 373 days (2 days sooner than forecasted) and final profit $ 1,960,670 (23% amount of contract) assuming 15% inflation rate in year and costs rate accordance with planned amounts and other input information and final profit.

Keywords: dynamic planning, cost, time, performance, project management

Procedia PDF Downloads 440

Authors: Miguel A. Orellana, Sonia E. Ruiz, Juan Bojórquez

Abstract:

Optimal load factors (dead, live and seismic) used for the design of buildings may be different, depending of the seismic ground motion characteristics to which they are subjected, which are closely related to the type of soil conditions where the structures are located. The influence of the type of soil on those load factors, is analyzed in the present study. A methodology that is useful for establishing optimal load factors that minimize the cost over the life cycle of the structure is employed; and as a restriction, it is established that the probability of structural failure must be less than or equal to a prescribed value. The life-cycle cost model used here includes different types of costs. The optimization methodology is applied to two groups of reinforced concrete buildings. One set (consisting on 4-, 7-, and 10-story buildings) is located on firm ground (with a dominant period Ts=0.5 s) and the other (consisting on 6-, 12-, and 16-story buildings) on soft soil (Ts=1.5 s) of Mexico City. Each group of buildings is designed using different combinations of load factors. The statistics of the maximums inter-story drifts (associated with the structural capacity) are found by means of incremental dynamic analyses. The buildings located on firm zone are analyzed under the action of 10 strong seismic records, and those on soft zone, under 13 strong ground motions. All the motions correspond to seismic subduction events with magnitudes M=6.9. Then, the structural damage and the expected total costs, corresponding to each group of buildings, are estimated. It is concluded that the optimal load factors combination is different for the design of buildings located on firm ground than that for buildings located on soft soil.

Keywords: life-cycle cost, optimal load factors, reinforced concrete buildings, total costs, type of soil

Procedia PDF Downloads 273

Authors: Kateryna Zharan, Jan C. Bongaerts

Abstract:

Mining operations are energy intensive, and the share of energy costs in total costs is often quoted in the range of 40 %. Saving on energy costs is, therefore, a key element of any mine operator. With the improving reliability and security of renewable energy (RE) sources, and requirements to reduce carbon dioxide emissions, perspectives for using RE in mining operations emerge. These aspects are stimulating the mining companies to search for ways to substitute fossil energy with RE. Hereby, the main purpose of this study is to present the survey research assessment in matter of finding out the key issues related to the integration of RE into mining activities, based on the mining and renewable energy experts’ opinion. The purpose of the paper is to present the outcomes of a survey conducted among mining and renewable energy experts about the feasibility of RE in mining operations. The survey research has been developed taking into consideration the following categories: first of all, the mining and renewable energy experts were chosen based on the specific criteria. Secondly, they were offered a questionnaire to gather their knowledge and opinions on incentives for mining operators to turn to RE, barriers and challenges to be expected, environmental effects, appropriate business models and the overall impact of RE on mining operations. The outcomes of the survey allow for the identification of factors which favor and disfavor decision-making on the use of RE in mining operations. It concludes with a set of recommendations for further study. One of them relates to a deeper analysis of benefits for mining operators when using RE, and another one suggests that appropriate business models considering economic and environmental issues need to be studied and developed. The results of the paper will be used for developing a hybrid optimized model which might be adopted at mines according to their operation processes as well as economic and environmental perspectives.

Keywords: carbon dioxide emissions, mining industry, photovoltaic, renewable energy, survey research, wind generation

Procedia PDF Downloads 333

Authors: Rhaed Khiati, Muhammad Hanif

Abstract:

In the past decade, smart healthcare systems have been on an ascendant drift, especially with the evolution of hospitals and their increasing reliance on bioinformatics and software specializing in healthcare. Doctors have become reliant on technology more than ever, something that in the past would have been looked down upon, as technology has become imperative in reducing overall costs and improving the quality of patient care. With patient-doctor interactions becoming more necessary and more complicated than ever, systems must be developed while taking into account costs, patient comfort, and patient data, among other things. In this work, we proposed a smart hospital bed, which mixes the complexity and big data usage of traditional healthcare systems with the comfort found in soft beds while taking certain concerns like data confidentiality, security, and maintaining SLA agreements, etc. into account. This research work potentially provides users, namely patients and doctors, with a seamless interaction with to their respective nurses, as well as faster access to up-to-date personal data, including prescriptions and severity of the condition in contrast to the previous research in the area where there is lack of consideration of such provisions.

Keywords: big data, smart healthcare, distributed systems, bioinformatics

Procedia PDF Downloads 164

Authors: Jagannath Koravadi, Archith Gupta

Abstract:

In a world with constantly growing energy prices, and growing concerns about the global climate changes caused by increased energy consumption, it is becoming more and more essential to save energy wherever possible. Refrigeration systems are one of the major and bulk energy consuming systems now-a-days in industrial sectors, residential sectors and household environment. Refrigeration systems with considerable cooling requirements consume a large amount of electricity and thereby contribute greatly to the running costs. Therefore, a great deal of attention is being paid towards improvement of the performance of the refrigeration systems in this regard throughout the world. The Coefficient of Performance (COP) of a refrigeration system is used for determining the system's overall efficiency. The operating cost to the consumer and the overall environmental impact of a refrigeration system in turn depends on the COP or efficiency of the system. The COP of a refrigeration system should therefore be as high as possible. Slight modifications in the technical elements of the modern refrigeration systems have the potential to reduce the energy consumption, and improvements in simple operational practices with minimal expenses can have beneficial impact on COP of the system. Thus, the challenge is to determine the changes that can be made in a refrigeration system in order to improve its performance, reduce operating costs and power requirement, improve environmental outcomes, and achieve a higher COP. The opportunity here, and a better solution to this challenge, will be to incorporate modifications in conventional refrigeration systems for saving energy. Energy efficiency, in addition to improvement of COP, can deliver a range of savings such as reduced operation and maintenance costs, improved system reliability, improved safety, increased productivity, better matching of refrigeration load and equipment capacity, reduced resource consumption and greenhouse gas emissions, better working environment, and reduced energy costs. The present work aims at fabricating a working model of a refrigerator that will provide for effective heat recovery from superheated refrigerant with the help of an efficient de-superheater. The temperature of the refrigerant and water in the de-super heater at different intervals of time are measured to determine the quantity of waste heat recovered. It is found that the COP of the system improves by about 6% with the de-superheater and the power input to the compressor decreases by 4 % and also the refrigeration capacity increases by 4%.

Keywords: coefficiency of performance, de-superheater, refrigerant, refrigeration capacity, heat recovery

Procedia PDF Downloads 302

Authors: Heeho Kim, Byeong-Hae Sohn

Abstract:

This study has examined the culture commonality of Northeast Asian countries based on Confucian values, and their relations to institutional economic integration. This study demonstrates that Confucian values inherent in the Northeast Asian countries have served as the cultural ethos for the rapid economic growth of this region since the 1960s and will be able to form the foundation of Northeast Asian values in the future. This paper re-appreciates these cultural values as a necessary condition for regional integration to catalyze the stagnated discussions about economic integration and extends its inter-weaving connection role for intra-regional transaction among China, Japan and Korea.

Keywords: Confucianism, Northeast Asia, economic integration, economic growth, regional conflicts

Procedia PDF Downloads 416

Authors: Qiuxiao Chen, Yan Hou, Ning Wu

Abstract:

As there are deficiencies of the classic Douglas-Peucker Algorithm (DPA), such as high risks of deleting key nodes by mistake, high complexity, time consumption and relatively slow execution speed, a new Deletion-Cost Based Compression Algorithm (DCA) for linear vector data was proposed. For each curve — the basic element of linear vector data, all the deletion costs of its middle nodes were calculated, and the minimum deletion cost was compared with the pre-defined threshold. If the former was greater than or equal to the latter, all remaining nodes were reserved and the curve’s compression process was finished. Otherwise, the node with the minimal deletion cost was deleted, its two neighbors' deletion costs were updated, and the same loop on the compressed curve was repeated till the termination. By several comparative experiments using different types of linear vector data, the comparison between DPA and DCA was performed from the aspects of compression quality and computing efficiency. Experiment results showed that DCA outperformed DPA in compression accuracy and execution efficiency as well.

Keywords: Douglas-Peucker algorithm, linear vector data, compression, deletion cost

Procedia PDF Downloads 209

Authors: Saeedeh Ahmadi Basir, Mohammad Mahdavi Mazdeh, Mohammad Namakshenas

Abstract:

Manufacturers often dispatch jobs in batches to reduce delivery costs. However, sending several jobs in batches can have a negative effect on other scheduling-related objective functions such as minimizing the number of tardy jobs which is often used to rate managers’ performance in many manufacturing environments. This paper aims to minimize the number of weighted tardy jobs and the sum of delivery costs of a two-stage assembly flow-shop problem in a batch delivery system. We present a mixed-integer linear programming (MILP) model to solve the problem. As this is an MILP model, the commercial solver (the CPLEX solver) is not guaranteed to find the optimal solution for large-size problems at a reasonable amount of time. We present several numerical examples to confirm the accuracy of the model.

Keywords: scheduling, two-stage assembly flow-shop, tardy jobs, batched delivery system

Procedia PDF Downloads 430

Authors: Mohammad Iqbal Maiik

Abstract:

Islamic marketing ethics combines the principle of value maximization with the principles of equity and justice for the welfare of the society. Adherence to the Islamic ethics in the Islamic banking industry can help elevate the standards of both behavior and living of bankers and customers alike. In a rapidly changing marketing environment, the need to be customer-focused has never been as important as it is today. At present where customers are becoming more demanding and increasingly mobile between competing financial providers, being customer-focused is not enough. Islamic banks and more specifically their customer-contact employees (customer relation advisers or officers) need to be perceived by their customers as being Islamic. This study represents an initial step in analyzing the role of Islamic ethical sales behavior as it may be perceived by the customers of Islamic Banks.

Keywords: Islam, ethics, marketing, Islamic banks

Procedia PDF Downloads 391

Authors: Georges Ghazi, Marc-Henry Devillers, Ruxandra M. Botez

Abstract:

Aircraft flight trajectory optimization has been identified to be a promising solution for reducing both airline costs and the aviation net carbon footprint. Nowadays, this role has been mainly attributed to the flight management system. This system is an onboard multi-purpose computer responsible for providing the crew members with the optimized flight plan from a destination to the next. To accomplish this function, the flight management system uses a variety of look-up tables to compute the optimal speed and altitude for each flight regime instantly. Because the cruise is the longest segment of a typical flight, the proposed algorithm is focused on minimizing fuel consumption for this flight phase. In this paper, a complete methodology to estimate the aircraft performance and subsequently compute the optimal speed in cruise is presented. Results showed that the obtained performance database was accurate enough to predict the flight costs associated with the cruise phase.

Keywords: Cessna Citation X, cruise speed optimization, flight cost, cost index, and golden section search

Procedia PDF Downloads 259

Authors: J. Stejskal, P. Hajek

Abstract:

The goal of this article is the analysis of knowledge transfer at the regional level of the Czech Republic. We show how goals of enterprises´ innovative activities are related to the rate of cooperation with different actors within regional innovative systems as well as in other world regions. The results show that the most important partners of enterprises are their suppliers and clients in most Czech regions. The cooperation rate of enterprises correlates significantly mainly with enterprises´ efforts to enter new markets and reduce labour costs per unit output. The meaning of this cooperation decreases with the increase of partner’s distance. Regarding the type of a cooperating partner, cooperation within an enterprise had to do with the increase of market share and decrease of labour costs. On the other hand, cooperation with clients had to do with efforts to replace outdated products or processes or enter new markets. We can pay less attention to the cooperation with government authorities and organizations. The reasons for marginalization of this cooperation should be submitted to further detailed investigation.

Keywords: knowledge, transfer, innovative process, Czech republic, region

Procedia PDF Downloads 394

Authors: Muhammad Shahid, Kafait Ullah, Kashif Imran, Arshad Mahmood, Maarten Arentsen

Abstract:

Poor planning and governance in the power sector of Pakistan have generated several issues ranging from gradual reliance on thermal-based expensive energy mix, supply shortages, unrestricted demand, subsidization, inefficiencies at different levels of the value chain and resultantly, the circular debt. This situation in the power sector has also hampered the growth of allied economic sectors. This study uses the Long-range Energy Alternative Planning (LEAP) system for electricity modelling of Pakistan from the period of 2016 to 2040. The study has first time in Pakistan forecasted the electricity demand at the provincial level. At the supply side, five scenarios Business as Usual Scenario (BAUS), Coal Scenario (CS), Gas Scenario (GS), Nuclear Scenario (NS) and Renewable Scenario (RS) have been analyzed based on the techno-economic and environmental parameters. The study has also included environmental externality costs for evaluating the actual costs and benefits of different scenarios. Contrary to the expectations, RS has a lower output than even BAUS. The study has concluded that the generation from RS has five times lesser costs than BAUS, CS, and GS. NS can also be an alternative for the sustainable future of Pakistan. Generation from imported coal is not a good option, however, indigenous coal with clean coal technologies should be promoted. This paper proposes energy planners of the country to devise incentives for the utilization of indigenous energy resources including renewables on priority and then clean coal to reduce the energy crises of Pakistan.

Keywords: economic evaluation, externality cost, penetration of renewable energy, regional electricity supply-demand planning

Procedia PDF Downloads 91

Authors: Eugueni Romantchik, Gilbero Lopez, Diego Terrazas

Abstract:

The residual wind energy recovery from axial air extractors in greenhouses represents a constant source of clean energy production, which reduces production costs by reducing energy consumption costs. The objective of this work is to design, build and evaluate a residual wind energy recovery system. This system consists of a wind turbine placed at an optimal distance, a cone in the air discharge and a mechanism to vary the blades angle of the wind turbine. The system energy balance was analyzed, measuring the main energy parameters such as voltage, amperage, air velocities and angular speeds of the rotors. Tests were carried in a greenhouse with extractor Multifan 130 (1.2 kW, 550 rpm and 1.3 m of diameter) without cone and with cone, with the wind turbine (3 blades with 1.2 m in diameter). The implementation of the system allowed recovering up to 55% of the motor's energy. With the cone installed, the electric energy recovered was increased by 10%. Experimentally, it was shown that changing in 3 degrees the original angle of the wind turbine blades, the angular velocity increases 17.7%.

Keywords: air energy, exhaust fan, greenhouse, wind turbine

Procedia PDF Downloads 134

Authors: Trang Pham

Abstract:

Approximately 70% of the Vietnamese population lives in rural areas where the main livelihood is farming. For many years, the Vietnamese Government has been working towards improving farmers’ quality of life. In 2008, the Government issued the decree 115/2008/ND-CP to subsidize farmers’ water fees. The subsidy covers operation and management costs of major water infrastructure. Water users have only to pay for the operation and management of minor or tertiary canal systems. But the “subsidized water fee” has become contentious; there are two opposing schools of thought. One view is that the subsidy lessens the burden on farmers in terms of reducing their production costs, at the same time generating a sufficient budget for Irrigation Management Companies (IMCs) and Water User Association (WUAs). The alternate point of view is that the subsidy negatively effects irrigation performance, especially in tertiary canals. The aim of this study was to gain clear awareness of the perceptions of farmers, WUA members, and IMC staffs in regard to irrigation performance and management since the introduction of subsidies and local water fees. In order to find out how the government intervention has affected local farming communities, a series of questionnaires and interviews were administered in 2013. Four case studies were chosen which represent four different agricultural areas and four different irrigation systems in Vietnam. Interviews were conducted with IMC staffs and WUA members and questionnaires were used to gather information from farmers. The study compares the difference in operation and management costs across the four case studies both before and after the implementation of the decree. The results disclose factors behind the subsidized water fee that either allow or hinder improved irrigation performance and better irrigation management.

Keywords: water fee, irrigation performance, local farming, tertiary canal systems

Procedia PDF Downloads 285

Authors: Khader Titi

Abstract:

Information technology developments have changed the way how businesses are working. Organizations are required to become visible online and stay connected to take advantages of costs reduction and improved operation of existing resources. The approval and the application areas of the cloud computing has significantly increased since it was presented by Google in 2007. Internet Cloud computing has attracted the IT enterprise attention especially the e-business enterprise. At this time, there is a great issue of environmental costs during the enterprises apply the e- business, but with the coming of cloud computing, most of the problem will be solved. Organizations around the world are facing with the continued budget challenges and increasing in the size of their computational data so, they need to find a way to deliver their services to clients as economically as possible without negotiating the achievement of anticipated outcomes. E- business companies need to provide better services to satisfy their clients. In this research, the researcher proposed a paradigm that use and deploy cloud computing technology environment to be used for e-business in small enterprises. Cloud computing might be a suitable model for implementing e-business and e-commerce architecture to improve efficiency and user satisfaction.

Keywords: E-commerce, cloud computing, B2C, SaaS

Procedia PDF Downloads 289

Authors: Pornpimol Chaiwuttisak, Honora Smith, Yue Wu

Abstract:

Blood is a perishable product which suffers from physical deterioration with specific fixed shelf life. Although its value during the shelf life is constant, fresh blood is preferred for treatment. However, transportation costs are a major factor to be considered by administrators of Regional Blood Centres (RBCs) which act as blood collection and distribution centres. A trade-off must therefore be reached between transportation costs and short-term holding costs. In this paper we propose a number of algorithms for online allocation and routing of blood supplies, for use in conditions of variable and insufficient blood supply. A case study in northern Thailand provides an application of the allocation and routing policies tested. The plan proposed for daily allocation and distribution of blood supplies consists of two components: firstly, fixed routes are determined for the supply of hospitals which are far from an RBC. Over the planning period of one week, each hospital on the fixed routes is visited once. A robust allocation of blood is made to hospitals on the fixed routes that can be guaranteed on a suitably high percentage of days, despite variable supplies. Secondly, a variable daily route is employed for close-by hospitals, for which more than one visit per week may be needed to fulfil targets. The variable routing takes into account the amount of blood available for each day’s deliveries, which is only known on the morning of delivery. For hospitals on the variables routes, the day and amounts of deliveries cannot be guaranteed but are designed to attain targets over the six-day planning horizon. In the conditions of blood shortage encountered in Thailand, and commonly in other developing countries, it is often the case that hospitals request more blood than is needed, in the knowledge that only a proportion of all requests will be met. Our proposal is for blood supplies to be allocated and distributed to each hospital according to equitable targets based on historical demand data, calculated with regard to expected daily blood supplies. We suggest several policies that could be chosen by the decision makes for the daily distribution of blood. The different policies provide different trade-offs between transportation and holding costs. Variations in the costs of transportation, such as the price of petrol, could make different policies the most beneficial at different times. We present an application of the policies applied to a realistic case study in the RBC at Chiang Mai province which is located in Northern region of Thailand. The analysis includes a total of more than 110 hospitals, with 29 hospitals considered in the variable route. The study is expected to be a pilot for other regions of Thailand. Computational experiments are presented. Concluding remarks include the benefits gained by the online methods and future recommendations.

Keywords: online algorithm, blood distribution, developing country, insufficient blood supply

Procedia PDF Downloads 307

Authors: I.-A. Ciobotaru, I.-E. Ciobotaru, D.-I. Vaireanu

Abstract:

Currently, an ascending trend of battery use may be observed, together with an increase of the generated amount of waste. Efforts have been focused on the recycling of batteries; however, extending their lifetime may be a more adequate alternative, and the development of such methods may prove to be more cost efficient as compared to recycling. In this context, this paper presents the analysis of a proposed process for the reconditioning of some lithium-ions batteries. The analysis is performed based on two criteria, the first one referring to the technical aspect of the reconditioning process and the second to the economic aspects. The main technical parameters taken into consideration are the values of capacitance and internal resistance of the lithium-ion batteries. The economic criterion refers to the evaluation of the efficiency of the reconditioning procedure reported to its total cost for the investigated lithium-ion batteries. Based on the cost analysis, one introduced a novel coefficient that correlates the efficiency of the aforementioned process and its corresponding costs. The reconditioning procedure for the lithium-ion batteries proposed in this paper proved to be valid, efficient, and with reasonable costs.

Keywords: cost assessment, lithium-ion battery, reconditioning coefficient, reconditioning procedure

Procedia PDF Downloads 97

Authors: Fabio Oettl, Sebastian Hoerbrand, Tobias Wittmeir, Johannes Schilp

Abstract:

By combining the additive manufacturing (AM)- process with digital concepts, like the digital twin (DT) or the downsized and basing concept of the digital part file (DPF), the competitiveness of additive manufacturing is enhanced and new use cases like decentral production are enabled. But in literature, one can´t find any quantitative approach for valuing the usage of a DT or DPF in AM. Out of this fact, such an approach will be developed within this paper in order to further promote or dissuade the usage of these concepts. The focus is set on the production as an early lifecycle phase, which means that the AM-production process gets analyzed regarding the potential advantages of using DPF in AM. These advantages are transferred to a monetary value with this approach. By calculating the costs of the DPF, an overall monetary value is a result. Thereon a tool, based on a simulation environment is constructed, where the algorithms are transformed into a program. The results of applying this tool show that an overall value of 20,81 € for the DPF can be realized for one special use case. For the future application of the DPF there is the recommendation to integrate especially sustainable information because out of this, a higher value of the DPF can be expected.

Keywords: additive manufacturing, digital concept costs, digital part file, digital twin, monetary value estimation

Procedia PDF Downloads 170

Authors: Mohanad Rezeq, Tarik Aouam, Frederik Gailly

Abstract:

In times of armed conflicts, various security checkpoints are placed by authorities to control the flow of merchandise into and within areas of conflict. The flow of humanitarian trucks that is added to the regular flow of commercial trucks, together with the complex security procedures, creates congestion and long waiting times at the security checkpoints. This causes distribution costs to increase and shortages of relief aid to the affected people to occur. Our research proposes a decision-support tool to assist planners and policymakers in building efficient plans for the distribution of relief aid, taking into account congestion at security checkpoints. The proposed tool is built around a multi-item humanitarian distribution planning model based on multi-phase design science methodology that has as its objective to minimize distribution and back ordering costs subject to capacity constraints that reflect congestion effects using nonlinear clearing functions. Using the 2014 Gaza War as a case study, we illustrate the application of the proposed tool, model the underlying relief-aid humanitarian supply chain, estimate clearing functions at different security checkpoints, and conduct computational experiments. The decision support tool generated a shipment plan that was compared to two benchmarks in terms of total distribution cost, average lead time and work in progress (WIP) at security checkpoints, and average inventory and backorders at distribution centers. The first benchmark is the shipment plan generated by the fixed capacity model, and the second is the actual shipment plan implemented by the planners during the armed conflict. According to our findings, modeling and optimizing supply chain flows reduce total distribution costs, average truck wait times at security checkpoints, and average backorders when compared to the executed plan and the fixed-capacity model. Finally, scenario analysis concludes that increasing capacity at security checkpoints can lower total operations costs by reducing the average lead time.

Keywords: humanitarian distribution planning, relief-aid distribution, congestion, clearing functions

Procedia PDF Downloads 55

Authors: Taylan Kabbani, Ekrem Duman

Abstract:

The design of adaptive systems that take advantage of financial markets while reducing the risk can bring more stagnant wealth into the global market. However, most efforts made to generate successful deals in trading financial assets rely on Supervised Learning (SL), which suffered from various limitations. Deep Reinforcement Learning (DRL) offers to solve these drawbacks of SL approaches by combining the financial assets price "prediction" step and the "allocation" step of the portfolio in one unified process to produce fully autonomous systems capable of interacting with its environment to make optimal decisions through trial and error. In this paper, a continuous action space approach is adopted to give the trading agent the ability to gradually adjust the portfolio's positions with each time step (dynamically re-allocate investments), resulting in better agent-environment interaction and faster convergence of the learning process. In addition, the approach supports the managing of a portfolio with several assets instead of a single one. This work represents a novel DRL model to generate profitable trades in the stock market, effectively overcoming the limitations of supervised learning approaches. We formulate the trading problem, or what is referred to as The Agent Environment as Partially observed Markov Decision Process (POMDP) model, considering the constraints imposed by the stock market, such as liquidity and transaction costs. More specifically, we design an environment that simulates the real-world trading process by augmenting the state representation with ten different technical indicators and sentiment analysis of news articles for each stock. We then solve the formulated POMDP problem using the Twin Delayed Deep Deterministic Policy Gradient (TD3) algorithm, which can learn policies in high-dimensional and continuous action spaces like those typically found in the stock market environment. From the point of view of stock market forecasting and the intelligent decision-making mechanism, this paper demonstrates the superiority of deep reinforcement learning in financial markets over other types of machine learning such as supervised learning and proves its credibility and advantages of strategic decision-making.

Keywords: the stock market, deep reinforcement learning, MDP, twin delayed deep deterministic policy gradient, sentiment analysis, technical indicators, autonomous agent

Procedia PDF Downloads 150

Authors: Tamanna Jethava, Rahul Joshi

Abstract:

Frequent Item sets play an essential role in many data Mining tasks that try to find interesting patterns from the database. Typically it refers to a set of items that frequently appear together in transaction dataset. There are several mining algorithm being used for frequent item set mining, yet most do not scale to the type of data we presented with today, so called “BIG DATA”. Big Data is a collection of large data sets. Our approach is to work on the frequent item set mining over the large dataset with scalable and speedy way. Big Data basically works with Map Reduce along with HDFS is used to find out frequent item sets from Big Data on large cluster. This paper focuses on using pre-processing & mining algorithm as hybrid approach for big data over Hadoop platform.

Keywords: frequent item set mining, big data, Hadoop, MapReduce

Procedia PDF Downloads 389

Authors: Anurag Savarnya

Abstract:

The reliability of the various parts of electric mining shovel has been assessed through the application of Weibull Model. The study was initiated to find reliability of components of electric mining shovel. The paper aims to optimize the reliability of components and increase the life cycle of component. A multilevel decomposition of the electric mining shovel was done and maintenance records were used to evaluate the failure data and appropriate system characterization was done to model the system in terms of reasonable number of components. The approach used develops a mathematical model to assess the reliability of the electric mining shovel components. The model can be used to predict reliability of components of the hydraulic mining shovel and system performance. Reliability is an inherent attribute to a system. When the life-cycle costs of a system are being analyzed, reliability plays an important role as a major driver of these costs and has considerable influence on system performance. It is an iterative process that begins with specification of reliability goals consistent with cost and performance objectives. The data were collected from an Indian open cast coal mine and the reliability of various components of the electric mining shovel has been assessed by following a Weibull Model.

Keywords: reliability, Weibull model, electric mining shovel

Procedia PDF Downloads 470

Authors: Thales Maluf, Nazem Nascimento

Abstract:

The development of society relies heavily on the total amount of energy obtained and its consumption. Over the years, there has been an advancement on energy attainment, which is directly related to some natural resources and developing systems. Some of these resources should be highlighted for its remarkable presence in world´s energy grid, such as water, petroleum, and gas, while others deserve attention for representing an alternative to diversify the energy grid, like geothermal sources. Therefore, because all these resources can be extracted from the underground, drilling wells is a mandatory activity in terms of exploration, and it involves a previous geological study and an adequate preparation. It also involves a cleaning process and an extraction process that can be executed by different procedures. For that reason, this research aims the enhancement of exploration processes through a comparative analysis of drilling costs and techniques used to produce them. The analysis itself is based on a bibliographical review based on books, scientific papers, schoolwork and mainly explore drilling methods and technologies, equipment used, well measurements, extraction methods, and production costs. Besides techniques and costs regarding the drilling processes, some properties and general characteristics of these sources are also compared. Preliminary studies show that there are some major differences regarding the exploration processes, mostly because these resources are naturally distinct. Water wells, for instance, have hundreds of meters of length because water is stored close to the surface, while oil, gas, and geothermal production wells can reach thousands of meters, which make them more expensive to be drilled. The drilling methods present some general similarities especially regarding the main mechanism of perforation, but since water is a resource stored closer to the surface than the other ones, there is a wider variety of methods. Water wells can be drilled by rotary mechanisms, percussion mechanisms, rotary-percussion mechanisms, and some other simpler methods. Oil and gas production wells, on the other hand, require rotary or rotary-percussion drilling with a proper structure called drill rig and resistant materials for the drill bits and the other components, mostly because they´re stored in sedimentary basins that can be located thousands of meters under the ground. Geothermal production wells also require rotary or rotary-percussion drilling and require the existence of an injection well and an extraction well. The exploration efficiency also depends on the permeability of the soil, and that is why it has been developed the Enhanced Geothermal Systems (EGS). Throughout this review study, it can be verified that the analysis of the extraction processes of energy resources is essential since these resources are responsible for society development. Furthermore, the comparative analysis of costs and well drilling techniques for water, geothermal energy, oil, and gas production, which is the main goal of this research, can enable the growth of energy generation field through the emergence of ideas that improve the efficiency of energy generation processes.

Keywords: drilling, water, oil, Gas, geothermal energy

Procedia PDF Downloads 118

Authors: Usama Mohamed, Sam Booth, Aliysn J. Nedoma

Abstract:

As part of the transition to electric vehicles, there has been a recent increase in demand for battery manufacturing. Cathodes typically account for approximately 50% of the total lithium-ion battery cell cost and are a pivotal factor in determining the viability of new industrial infrastructure. Cathodes which offer lower costs whilst maintaining or increasing performance, such as nickel-rich layered cathodes, have a significant competitive advantage when scaling up the manufacturing process. This project evaluates the techno-economic value proposition of an integrated industrial scale cathode active material (CAM) production process, closing the mass and energy balances, and optimizing the operation conditions using a sensitivity analysis. This is done by developing a process model of a co-precipitation synthesis route using Aspen Plus software and validated based on experimental data. The mechanism chemistry and equilibrium conditions were established based on previous literature and HSC-Chemistry software. This is then followed by integrating the energy streams, adding waste recovery and treatment processes, as well as testing the effect of key parameters (temperature, pH, reaction time, etc.) on CAM production yield and emissions. Finally, an economic analysis estimating the fixed and variable costs (including capital expenditure, labor costs, raw materials, etc.) to calculate the cost of CAM ($/kg and $/kWh), total plant cost ($) and net present value (NPV). This work sets the foundational blueprint for future research into sustainable industrial scale processes for CAM manufacturing.

Keywords: cathodes, industrial production, nickel-rich layered cathodes, process modelling, techno-economic analysis

Procedia PDF Downloads 66

Authors: Ami Fadhillah Amir Abdul Nasir, Amanda C. Niehaus, Skye F. Cameron, Frank A. Von Hippel, John Postlethwait​, Robbie S. Wilson

Abstract:

For suicidal breeders, the physiological stresses and energetic costs of breeding are fatal. Environmental stressors such as pollution should compound these costs, yet suicidal breeding is so rare among mammals that this is unknown. Here, we explored the consequences of metal contamination to the health, aging and performance of endangered, suicidally-breeding northern quolls (Dasyurus hallucatus) living near an active manganese mine on Groote Eylandt, Northern Territory, Australia. We found respirable manganese dust at levels exceeding international recommendations even 20km from mining sites and substantial accumulation of manganese within quolls’ hair, testes, and in two brain regions—the neocortex and cerebellum, responsible for sensory perception and motor function, respectively. Though quolls did not differ in sprint speeds, motor skill, or manoeuvrability, those with higher accumulation of manganese crashed at lower speeds during manoeuvrability tests, indicating a potential effect on sight or cognition. Immune function and telomere length declined over the breeding season, as expected with ageing, but manganese contamination exacerbated immune declines and suppressed cortisol. Unexpectedly, male quolls with higher levels of manganese had longer telomeres, supporting evidence of unusual telomere dynamics among Dasyurids—though whether this affects their lifespan is unknown. We posit that sublethal contamination via pollution, mining, or urbanisation imposes physiological costs on wildlife that may diminish reproductive success or survival.

Keywords: ecotoxicology, heavy metal, manganese, telomere length, cortisol, locomotor

Procedia PDF Downloads 287

Authors: William Burdick

Abstract:

Manmade climate change is an existential threat that must be mitigated at the earliest opportunity. The role of government in climate change mitigation is enacting and enforcing law and policy to affect substantial reductions in greenhouse gasses, in the short and long term, without substantial increases in the cost of energy. To be optimally effective those laws and policies must be established and enforced based on peer reviewed evidence and scientific facts and result in substantial outcomes in years, not decades. Over the next fifty years, New York’s 2019 Climate Change and Community Protection Act and 2021 All Electric Building Act that mandate replacing natural gas heating systems with heat pumps will, immediately double annual heating costs and by 2075, yield less than 16.2% reduction in CO₂ emissions from heating systems in new housing units, less than a 13% reduction in total CO₂ emissions, and affect a $40B in cumulative additional heating cost, compared to natural gas fueled heating systems.

Keywords: climate change, mandate, heat pump, natural gas

Procedia PDF Downloads 34

Authors: Richard, Iyan Subiyanto, Chairul Hudaya

Abstract:

Activated carbon has been playing a significant role for many applications, especially in energy storage devices. However, commercially activated carbons generally require complicated processes and high production costs. Therefore, in this study, an activated carbon originating from green coke waste, that is economically affordable will be used as a carbon source. To synthesize activated carbon, KOH as an activator was employed with variation of C:KOH in ratio of 1:2, 1:3, 1:4, and 1:5, respectively, with an activation temperature of 700°C. The characterizations of activated carbon are obtained from Scanning Electron Microscopy, Energy Dispersive X-Ray, Raman Spectroscopy, and Brunauer-Emmett-Teller. The optimal activated carbon sample with specific surface area of 2,024 m²/g with high carbon content ( > 80%) supported by the high porosity carbon image obtained by SEM was prepared at C:KOH ratio of 1:4. The result shows that the synthesized activated carbon would be an ideal choice for energy storage device applications. Therefore, this study is expected to reduce the costs of activated carbon production by expanding the utilization of petroleum waste.

Keywords: activated carbon, energy storage material, green coke, specific surface area

Procedia PDF Downloads 133

Authors: Dean A. McCorkle, Ed W. Hellman, Rebekka M. Dudensing, Dan D. Hanselka

Abstract:

The motivation for this study centers on the labor- and cost-intensive nature of wine and table grape production in the U.S., and the potential opportunities for precision mechanization using robotics to augment those production tasks that are labor-intensive. The objectives of this study are to evaluate the economic viability of grape production in five U.S. states under current operating conditions, identify common production challenges and tasks that could be augmented with new technology, and quantify a maximum price for new technology that growers would be able to pay. Wine and table grape production is primed for precision mechanization technology as it faces a variety of production and labor issues. Methodology: Using a grower panel process, this project includes the development of a representative wine grape vineyard in five states and a representative table grape vineyard in California. The panels provided production, budget, and financial-related information that are typical for vineyards in their area. Labor costs for various production tasks are of particular interest. Using the data from the representative budget, 10-year projected financial statements have been developed for the representative vineyard and evaluated using a stochastic simulation model approach. Labor costs for selected vineyard production tasks were evaluated for the potential of new precision mechanization technology being developed. These tasks were selected based on a variety of factors, including input from the panel members, and the extent to which the development of new technology was deemed to be feasible. The net present value (NPV) of the labor cost over seven years for each production task was derived. This allowed for the calculation of a maximum price for new technology whereby the NPV of labor costs would equal the NPV of purchasing, owning, and operating new technology. Expected Results: The results from the stochastic model will show the projected financial health of each representative vineyard over the 2015-2024 timeframe. Investigators have developed a preliminary list of production tasks that have the potential for precision mechanization. For each task, the labor requirements, labor costs, and the maximum price for new technology will be presented and discussed. Together, these results will allow technology developers to focus and prioritize their research and development efforts for wine and table grape vineyards, and suggest opportunities to strengthen vineyard profitability and long-term viability using precision mechanization.

Keywords: net present value, robotic technology, stochastic simulation, wine and table grapes

Procedia PDF Downloads 233