Search results for: Kronecker product

Authors: Panagiota Koliousi, Natasha Miaouli

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We compare product and labour market liberalization under the two trade union bargaining models: the Right-to-Manage (RTM) model and the Efficient Bargaining (EB) model. The vehicle is a dynamic general equilibrium (DGE) model that incorporates two types of agents (capitalists and workers), imperfectly competitive product and labour markets. The model is solved numerically employing common parameter values and data from the euro area. A key message is that product market deregulation is favourable under any labour market structure while opting for labour market deregulation one should provide special attention to the structure of the labour market such as the bargaining system of unions. If the prevailing way of bargaining is the RTM model then restructuring both markets is beneficial for all agents.

Keywords: market structure, structural reforms, trade unions, unemployment

Procedia PDF Downloads 171

Authors: Omar Awad, R. Mamat, F. Yusop, M. M. Noor, I. M. Yusri

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Fusel oil is a by-product obtained through the fermentation of some agricultural products. The fusel oil properties are closer to other alternative combustible types and the limited number of studies on the use of fusel oil as an alcohol derivative in SI engines constitutes to the base of this study. This paper experimentally examined the impacts of a by-product of alcohol, which is fusel oil by blending it with gasoline, on engine performance, combustion characteristics, and emissions in a 4-cylinder SI engine. The test was achieved at different engine speeds and a 60 % throttle valve (load). As results, brake power, BTE, and BSFC of F10 are higher at all engine speeds. Maximum engine BTE was 33.9%, at the lowest BSFC with F10. Moreover, it is worth seeing that the F10 under rich air-fuel ratio has less variation of COVIMEP compared to the F20 and gasoline. F10 represents shorter combustion duration, thereby, the engine power increased. NOx emission for F10 at 4500 rpm was lower than gasoline. The highest value of HC emission is obtained with F10 compared to gasoline and F20 with an average increase of 11% over the engine speed range. CO and CO2 emissions increased when using fusel oil blends.

Keywords: fusel oil, spark ignition engine, by-product alcohol, combustion characteristics, engine emissions, alternative fuel

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Authors: J. Zhang, K. Agyapong-Kodua

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Digital factory based on visual design and simulation has emerged as a mainstream to reduce digital development life cycle. Some basic industrial systems are being integrated via semantic modelling, and products (P) matching process (P)-resource (R) requirements are designed to fulfill current customer demands. Nevertheless, product design is still limited to fixed product models and known knowledge of product engineers. Therefore, this paper presents a rapid reconfiguration method based on semantic technologies with PPR ontologies to reuse known and unknown knowledge. In order to avoid the influence of big data, our system uses a cloud manufactory and distributed database to improve the efficiency of querying meeting PPR requirements.

Keywords: semantic technologies, factory system, digital factory, cloud manufactory

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Authors: Atheer Al-Maqbali, Mohammed Al-Rizeiqi, Pankaj Pathare

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There is an ever-increased demand for the consumption of banana products in Oman and elsewhere in the region due to the nutritional value and the decent taste of the product. There are approximately 3,751 acres of land designated for banana cultivation in the Sultanate of Oman, which produces approximately 18,447 tons of banana product. The fresh banana product is extremely perishable, resulting in a significant post-harvest economic loss. Since the product has high sensory acceptability, the drying method is a common method for processing fresh banana products. This study aims to use the drying technology in the production of dried bananas to preserve the largest amount of natural color and delicious taste for the consumer. The study also aimed to assess the shelf stability of both water activity (aw) and color (L*, a*, b*) for fresh and finished dried bananas by using a Conventional Air Drying System. Water activity aw, color characteristic L a b, and product’s hardness were analyzed for 3mm, 5mm, and7 mm thickness at different temperaturesoC. All data were analyzed statistically using STATA 13.0, and α ≤ 0.05 was considered for the significance level. The study is useful to banana farmers to improve cultivation, food processors to optimize producer’s output and policy makers in the optimization of banana processing and post-harvest management of the products.

Keywords: banana, drying, oman, quality, thickness, hardness, color

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Authors: Aishatu Ibrahim, Ijeoma Chinyere Ukonu

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The study set out to produce bread using composite cassava flour. The main objective of the work is to determine the possibility of using composite cassava flour in bread production and to find out whether it is acceptable in the hospitality industry and by the general public. The research questions were formed and analyzed. A sample size of 10 professional catering judges was used in the department of hospitality management/food science and technology. Relevant literature was received. Data collected was analyzed using mean deviation. Product A which is 20% cassava flour and 80% wheat flour product, and D which is 100% wheat flour product were competing with high acceptability. It was observed that the composite cassava dough needed to be allowed to proof for a longer period. Lastly, the researcher recommends that the caterers should be encouraged to use composite cassava flour in the production of bread in order to reduce cost.

Keywords: bread, cassava, flour, wheat

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Authors: Saurav S. Rath, Birendra K. David

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Generic pharmaceutical industry has to operate in strict timelines of product development and scale-up from lab to plant. Hence, detailed product & process understanding and implementation of appropriate mechanistic modelling and Quality-by-design (QbD) approaches are imperative in the product life cycle. This work provides example cases of such efforts in topical dosage products. Topical products are typically in the form of emulsions, gels, thick suspensions or even simple solutions. The efficacy of such products is determined by characteristics like rheology and morphology. Defining, and scaling up the right manufacturing process with a given set of ingredients, to achieve the right product characteristics presents as a challenge to the process engineer. For example, the non-Newtonian rheology varies not only with CPPs and CMAs but also is an implicit function of globule size (CQA). Hence, this calls for various mechanistic models, to help predict the product behaviour. This paper focusses on such models obtained from computational fluid dynamics (CFD) coupled with population balance modelling (PBM) and constitutive models (like shear, energy density). In a special case of the use of high shear homogenisers (HSHs) for the manufacture of thick emulsions/gels, this work presents some findings on (i) scale-up algorithm for HSH using shear strain, a novel scale-up parameter for estimating mixing parameters, (ii) non-linear relationship between viscosity and shear imparted into the system, (iii) effect of hold time on rheology of product. Specific examples of how this approach enabled scale-up across 1L, 10L, 200L, 500L and 1000L scales will be discussed.

Keywords: computational fluid dynamics, morphology, quality-by-design, rheology

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Authors: Cholpassorn Sitthiwarongchai, Chutikarn Sriviboon

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The two primary objectives of this research were (1) to examine the current knowledge and actual circumstance of agricultural workers about mangosteen product processing; and (2) to analyze and evaluate ways to develop capacity of mangosteen product processing. The population of this study was 15,125 people who work in the agricultural sector, in this context, mangosteen production, in the eastern part of Thailand that included Chantaburi Province, Rayong Province, Trad Province and Pracheenburi Province. The sample size based on Yamane’s calculation with 95% reliability was therefore 392 samples. Mixed method was employed included questionnaire and focus group discussion with Connoisseurship Model used in order to collect quantitative and qualitative data. Key informants were used in the focus group including agricultural business owners, academic people in agro food processing, local academics, local community development staff, OTOP subcommittee, and representatives of agro processing industry professional organizations. The study found that the majority of the respondents agreed with a high level (in five-rating scale) towards most of variables of knowledge management in agro food processing. The result of the current knowledge and actual circumstance of agricultural human resource in an arena of mangosteen product processing revealed that mostly, the respondents agreed at a high level to establish 7 variables. The guideline to developing the body of knowledge in order to enhance the capacity of the agricultural workers in mangosteen product processing was delivered in the focus group discussion. The discussion finally contributed to an idea to produce manuals for mangosteen product processing methods, with 4 products chosen: (1) mangosteen soap, (2) mangosteen juice, (3) mangosteen toffee, and (4) mangosteen preserves or jam.

Keywords: capacity enhancement, agricultural workers, mangosteen product processing, marketing management

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Authors: Narendra Akhadkar, Philippe Delcambre

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In power protection and control products, assembly process variations due to the individual parts manufactured from single or multi-cavity tooling is a major problem. The dimensional and geometrical variations on the individual parts, in the form of manufacturing tolerances and assembly tolerances, are sources of clearance in the kinematic joints, polarization effect in the joints, and tolerance stack-up. All these variations adversely affect the quality of product, functionality, cost, and time-to-market. Variation simulation analysis may be used in the early product design stage to predict such uncertainties. Usually, variations exist in both manufacturing processes and materials. In the tolerance analysis, the effect of the dimensional and geometrical variations of the individual parts on the functional characteristics (conditions) of the final assembled products are studied. A functional characteristic of the product may be affected by a set of interrelated dimensions (functional parameters) that usually form a geometrical closure in a 3D chain. In power protection and control products, the prerequisite is: when a fault occurs in the electrical network, the product must respond quickly to react and break the circuit to clear the fault. Usually, the response time is in milliseconds. Any failure in clearing the fault may result in severe damage to the equipment or network, and human safety is at stake. In this article, we have investigated two important functional characteristics that are associated with the robust performance of the product. It is demonstrated that the experimental data obtained at the Schneider Electric Laboratory prove the very good prediction capabilities of the variation simulation performed using CETOL (tolerance analysis software) in an industrial context. Especially, this study allows design engineers to better understand the critical parts in the product that needs to be manufactured with good, capable tolerances. On the contrary, some parts are not critical for the functional characteristics (conditions) of the product and may lead to some reduction of the manufacturing cost, ensuring robust performance. The capable tolerancing is one of the most important aspects in product and manufacturing process design. In the case of miniature circuit breaker (MCB), the product's quality and its robustness are mainly impacted by two aspects: (1) allocation of design tolerances between the components of a mechanical assembly and (2) manufacturing tolerances in the intermediate machining steps of component fabrication.

Keywords: geometrical variation, product robustness, tolerance analysis, variation simulation

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Authors: Vera Lúcia Raposo

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Medical devices are products used for medical purposes and aimed to operate in the human body, sometimes even inside the human body. Therefore, they can become particularly risky products, and some of the injuries caused by medical devices can have serious effects on the person’s health or body, even leading to death. Because they fit in the category of 'products' as described in Article 2 of Council Directive 85/374/EEC of 25 July 1985, concerning liability for defective products, the liability of the manufacturer of medical devices follows the rules of strict liability as long as one of the defects covered by the directive is at stake. The directive is not concerned with the product’s efficiency, but instead with the product’s safety, although in what regards medical devices (the same being valid for drugs) the two concepts frequently go together, and a lack of efficiency can result in a lack of safety. In the particular case of medical devices, the most debatable defects are the ones related with erroneous or non-existing information and the so-called development defects. This paper analyses how directive 85/374/EEC applies to medical devices, which defects are covered by its regulation, and which criteria can be used to evaluate the product’s safety. Some issues are still to be clarified, even though the decisions from the European Court of Justice and from national courts are valuable tools to understand the scope of directive 85/374/EEC in what regards medical devices.

Keywords: medical devices, producer’s liability, product safety, strict liability

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Authors: Saleem Z. Ramadan

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The material selection problem is concerned with the determination of the right material for a certain product to optimize certain performance indices in that product such as mass, energy density, and power-to-weight ratio. This paper is concerned about optimizing the selection of the manufacturing process along with the material used in the product under performance indices and availability constraints. In this paper, the material selection problem is formulated using binary programming and solved by genetic algorithm. The objective function of the model is to minimize the total manufacturing cost under performance indices and material and manufacturing process availability constraints.

Keywords: optimization, material selection, process selection, genetic algorithm

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Authors: Sadegh Abebi

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There are problems with estimating time of product process of products, especially when there is variable serving time, like control stage. These problems will cause overestimation of process time. Layout constraints, reworking constraints and inflexible product schedule in multi product lines, needs a precise planning to reduce volume in particular situation of line stock. In this article, by analyzing real queue systems with layout constraints and by using concepts and principles of Markov chain in queue theory, a hybrid model has been presented. This model can be a base to assess queue systems with probable parameters of service. Here by presenting a case study, the proposed model will be described. so, production lines of a home application manufacturer will be analyzed.

Keywords: Queuing theory, Markov Chain, layout, line balance

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Authors: Witthaya Mekhum, Napasri Suwanajote, Isara Sangprasert

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This research on logo design of pajamas, OTOP product of Sainoi community, Sainoi district, Nonthanuri Province is a participatory action research aiming to find the logo for pajamas, an OTOP product of Sainoi community. Sample of this research is 50 local residents from Sainoi community in Sainoi district, Nonthanuri Province. The questionnaire consisted of 4 main parts. Part 1: factors that influence the decisions of consumers; Part 2: characteristics of the materials used in the design; Part 3: attitude assessment and needs of consumers about logo designing to develop marketing channels; Part 4: suggestions. Interviews were conducted. For data analysis, checklist items were analyzed with frequency and percentage. Open-end items were analyzed by summarizing and using ratio scale and mean and standard deviation. The research results showed that the design, cutting and fabric affect the decision of the consumers. They want design to be decent and beautiful. Illustrations used in graphic design logos should be Lines. Fonts should be English letters and the color of the font should be the same color.

Keywords: design, logo, OTOP product, pajamas

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Authors: M. Holle, M. Roth, M. R. Gürtler, U. Lindemann

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This paper gives insights into the research project "InnoCyFer" (in the form of an outlook) which is funded by the German Federal Ministry of Economics and Technology. Enabling the integrated customer individual product design as well as flexible manufacturing of these products are the main objectives of the project. To achieve this, a web-based open innovation-platform containing an integrated Toolkit will be developed. This toolkit enables the active integration of the customer’s creativity and potentials of innovation in the product development process. Furthermore, the project will show the chances and possibilities of customer individualized products by building and examining the continuous process from innovation through the customers to the flexible manufacturing of individual products.

Keywords: customer individual product design, innovation networks, open innovation, open innovation platform, toolkit

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Authors: Y. N. Fung, R. Liu, T. M. Choi

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The life cycle assessment (LCA) is widely applied in the study of the sustainable fashion industry. Through the LCA, the social, environmental, and economic performances of the fashion industry can be assessed, which helps sustainable product developers (designers, retailers, and manufacturers) to address problems in product development. In prior studies, environmental impact, economic performance, and social responsibility are commonly considered separately. Inter-relations between dimensions of sustainability and LCA are rarely reported. The development process of sustainable sportswear products is complicated. Changes in the product components (e.g., materials, manufacturing methods, and product design) of sportswear will correspondingly influence supply chain activities and meanwhile affect environmental, economic, and social performances. In this study, the interrelations between different LCAs and how the interrelated LCAs can help product developers to strike a balance among environmental, economic, and social performances are explored. Based on the findings, a three-dimensional assessment framework on the sustainability life cycle is introduced. To examine the applicability of the developed framework, proof-of-concept sportswear legging products were developed. The developed sportswear legging products were assessed in terms of the interrelated dimensions of environmental, economic, and social performances. The results demonstrate the effects of shifting in desig¬n details and product functions on the environmental, social, and economic performances of sportswear products. The outcome of this study provides insights on the approach to balance sustainability and the development of cost-effective and sustainable sportswear products for sportswear developers.

Keywords: sustainable development, sports fashion, life cycle assessment, indicators for sustainability, sustainability impacts

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Authors: Maher Agi, Hardik Soni

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This paper presents a deterministic model for optimized control of the inventory of a perishable product subject to both physical deterioration and degradation of its freshness condition. The demand for the product depends on its current inventory level and freshness condition. Our model allows for any positive amount of end of cycle inventory. Some useful conditions that characterize the optimal solution of the model are derived and an algorithm is presented for finding the optimal values of the price, the inventory cycle, the end of cycle inventory level and the order quantity. Numerical examples are then given. Our work shows how the product freshness in conjunction with the inventory deterioration affects the inventory management decisions.

Keywords: inventory management, lot sizing, perishable products, deteriorating inventory, age-dependent demand, stock-dependent demand

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Authors: Abbas Al-Refaie, Nour Bata

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A distributor of Apple products' experiences numerous difficulties in developing marketing strategies for new and existing mobile product entries that maximize customer satisfaction and the firm's profitability. This research, therefore, integrates market segmentation in platform-based product family design and conjoint analysis to identify iSystem combinations that increase customer satisfaction and business profits. First, the enhanced market segmentation grid is created. Then, the estimated demand model is formulated. Finally, the profit models are constructed then used to determine the ideal product family design that maximizes profit. Conjoint analysis is used to explore customer preferences with their satisfaction levels. A total of 200 surveys are collected about customer preferences. Then, simulation is used to determine the importance values for each attribute. Finally, sensitivity analysis is conducted to determine the product family design that maximizes both objectives. In conclusion, the results of this research shall provide great support to Apple distributors in determining the best marketing strategies that enhance their market share.

Keywords: market segmentation, conjoint analysis, market strategies, optimization

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Authors: Yan Ping Chen, Hau Yin Chung

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The Ideal Profile Method (IPM) is a newly developed descriptive sensory analysis conducted by consumers without previous training. To perform this test, both the perceived and the ideal intensities from the judgements of consumers on products’ attributes, as well as their hedonic ratings were collected for formulating an ideal product (the most liked one). In addition, Ideal Profile Analysis (IPA) was conducted to check the consistency of the ideal data at both the panel and consumer levels. In this test, 12 commercial plain sufus bought from Hong Kong local market were tested by 113 consumers according to the IPM, and rated on 22 attributes. Principal component analysis was used to profile the perceived and the ideal spaces of tested products. The consistency of ideal data was then checked by IPA. The result showed that most consumers shared a common ideal. It was observed that the sensory product space and the ideal product space were structurally similar. Their first dimensions all opposed products with intense fermented related aroma to products with less fermented related aroma. And the predicted ideal profile (the estimated liking score around 7.0 in a 9.0-point scale) got higher hedonic score than the tested products (the average liking score around 6.0 in a 9.0-point scale). For the majority of consumers (95.2%), the stated ideal product considered as a potential ideal through checking the R2 coefficient value. Among all the tested products, sample-6 was the most popular one with consumer liking percentage around 30%. This product with less fermented and moldy flavour but easier to melt in mouth texture possessed close sensory profile according to the ideal product. This experiment validated that data from untrained consumers could be guided as useful information. Appreciated sensory characteristics could be served as reference in the optimization of the commercial plain sufu.

Keywords: ideal profile method, product development, sensory evaluation, sufu (fermented soybean curd)

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Authors: M. Bahgat, F. M. Awan, H. A. Hanafy, O. N. Alzeghaibi

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Strontium hexaferrite (SrFe12O19; Sr-ferrite) is one of the well-known materials for permanent magnets. In this study, M-type strontium ferrite was prepared by following the conventional ceramic method from steelmaking by-product. Initial materials; SrCO3 and by-product, were mixed together in the composition of SrFe12O19 in different Sr/Fe ratios. The mixtures of these raw materials were dry-milled for 6h. The blended powder was pre-sintered (i.e. calcination) at 1000°C for different times periods, then cooled down to room temperature. These pre-sintered samples were re-milled in a dry atmosphere for 1h and then fired at different temperatures in atmospheric conditions, and cooled down to room temperature. The produced magnetic powder has a dense hexagonal grain shape structure. The calculated energy product values for the produced samples ranged from 0.3 to 2.4 MGOe.

Keywords: hard magnetic materials, ceramic route, strontium ferrite, synthesis

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Authors: Sneha Bhatnagar, Sachin Bhatnagar

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Denim presently is the most widely accepted textile product and shows its hold even in future with its growing popularity. Denim today is no longer restricted to only a pair of jeans but has diversified in all different product categories. Although denim is considered as an expression of youth and demonstrates durability and comfort, denim raises issues of sustainability. Through an exploratory research, the researcher aims at addressing the possibilities of denim fashion promoting environmental sustainability by means of creativity, awareness, recycle and artisan appreciation. It also touches on how eco conscious fashion brands involve in development in terms of ideation and modification of denim as a fabric or product into diversified sustainable fashion. In conclusion, it is shown that blue denim fashion continues to evolve and shows eventual transformation in becoming green denim in future, nurturing values of both quality and sustainability.

Keywords: arts, craft, creativity, denim, fashion, recycle, sustainability

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Authors: Michael N. O'Sullivan, Con Sheahan

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Mass customization is the idea of offering custom products or services to satisfy the needs of each individual customer while maintaining the efficiency of mass production. Technologies like 3D printing and artificial intelligence have many start-ups hoping to capitalize on this dream of creating personalized products at an affordable price, and well established companies scrambling to innovate and maintain their market share. However, the majority of them are failing as they struggle to understand one key question – where does customization make sense? Customization and personalization only make sense where the value of the perceived benefit outweighs the cost to implement it. In other words, will people pay for it? Looking at the Kano Model makes it clear that it depends on the product. In products where customization is an inherent need, like prosthetics, mass customization technologies can be highly beneficial. However, for products that already sell as a standard, like headphones, offering customization is likely only an added bonus, and so the product development team must figure out if the customers’ perception of the added value of this feature will outweigh its premium price tag. This can be done through the use of a ‘serious game,’ whereby potential customers are given a limited budget to collaboratively buy and bid on potential features of the product before it is developed. If the group choose to buy customization over other features, then the product development team should implement it into their design. If not, the team should prioritize the features on which the customers have spent their budget. The level of customization purchased can also be translated to an appropriate production method, for example, the most expensive type of customization would likely be free-form design and could be achieved through digital fabrication, while a lower level could be achieved through short batch production. Twenty-five teams of final year students from design, engineering, construction and technology tested this methodology when bringing a product from concept through to production specification, and found that it allowed them to confidently decide what level of customization, if any, would be worth offering for their product, and what would be the best method of producing it. They also found that the discussion and negotiations between players during the game led to invaluable insights, and often decided to play a second game where they offered customers the option to buy the various customization ideas that had been discussed during the first game.

Keywords: Kano model, mass customization, new product development, serious game

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Authors: Chi-Hao Yeh

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The aim of this paper is to show how to apply TRIZ to resolve conflicts in management area, which can be readily applied in new product development (NPD) process and Knowledge Management (KM) system in desinging and manfacturing stages. TRIZ has been well-known as a creative and innovative thinking theory in solving engineering and technology contradictions in the last two decades. However, few studies and practical usage were proposed in management area. Conflicts occurring including schedule, budget, and risk plannings at smart phone R&D process are discussed to demonstrate the ideas guided by 39 TRIZ management parameters, 40 TRIZ innovative principles, and contradiction matrix. The results show that TRIZ is able to provide direct, quick and effective alternatives to resolve the management conflicts. In this manner, huge effort and cost can be actually saved and practical experince can be stored in KM system. In this paper, an innovative 3C consuming product such as smart-phone is utilized as a case study to describe the proposed TRIZ-based conflicts-solving approaches in NPD process and Knowledge Management (KM) system.

Keywords: TRIZ, conflicts-solving in managment area, new product development (NPD), knowledge management (KM), smart-phone

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Authors: Asim Shabir, Ruqia Shaikh

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Supersized pricing is an effective strategy often used by marketers to make consumers buy more. However, such a strategy also results in more purchases and consumption, especially of hedonic food products. This study brings interesting insights about supersized pricing as it provides value-based justification to consumers; as a result, the guilt associated with the purchase and consumption of hedonic products diminishes, which mediates the impact between supersized pricing and size choice. Interestingly, there is a three-way interaction between pricing, product type, and health goal prime. Health prime diminishes the impact of supersized pricing in the case of more hedonic products (unhealthy) compared to less hedonic (perceived as healthy) products.

Keywords: supersized pricing, anticipated consumption guilt, health claim, product type

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Authors: Martina Marinelli, Samanta Vellante, Francesco Pilotti, Daniele Di Valerio, Gaetanino Paolone

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Any development in web marketing technology requires changes in information engineering to identify instruments and techniques suitable for the production of software applications for informative marketing. Moreover, for large web solutions, designing an interface that enables human interactions is a complex process that must bridge between informative marketing requirements and the developed solution. A user-friendly interface in web marketing applications is crucial for a successful business. The paper introduces mkInfo - a software platform that implements informative marketing. Informative marketing is a new interpretation of marketing which places the information at the center of every marketing action. The creative team includes software engineering researchers who have recently authored an article on automatic code generation. The authors have created the mkInfo software platform to generate informative marketing web applications. For each web application, it is possible to automatically implement an opt in page, a landing page, a sales page, and a thank you page: one only needs to insert the content. mkInfo implements an autoresponder to send mail according to a predetermined schedule. The mkInfo platform also includes e-commerce for a product or service. The stakeholder can access any opt-in page and get basic information about a product or service. If he wants to know more, he will need to provide an e-mail address to access a landing page that will generate an e-mail sequence. It will provide him with complete information about the product or the service. From this point on, the stakeholder becomes a user and is now able to purchase the product or related services through the mkInfo platform. This paper suggests a possible definition for Informative Marketing, illustrates its basic principles, and finally details the mkInfo platform that implements it. This paper also offers some Informative Marketing models, which are implemented in the mkInfo platform. Informative marketing can be applied to products or services. It is necessary to realize a web application for each product or service. The mkInfo platform enables the product or the service producer to send information concerning a specific product or service to all stakeholders. In conclusion, the technical contributions of this paper are: a different interpretation of marketing based on information; a modular architecture for web applications, particularly for one with standard features such as information storage, exchange, and delivery; multiple models to implement informative marketing; a software platform enabling the implementation of such models in a web application. Future research aims to enable stakeholders to provide information about a product or a service so that the information gathered about a product or a service includes both the producer’s and the stakeholders' point of view. The purpose is to create an all-inclusive management system of the knowledge regarding a specific product or service: a system that includes everything about the product or service and is able to address even unexpected questions.

Keywords: informative marketing, opt in page, software platform, web application

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Authors: Ana Bilandzic, Marcus Foth, Greg Hearn

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In a narrow sense, innovation is the invention and commercialisation of a new product or service in the marketplace. The literature suggests places that support knowledge exchange and social interaction, e.g. coffee shops, to nurture innovative ideas. With the widespread success of Internet, interpersonal communication and interaction changed. Online platforms complement physical places for idea exchange and innovation – the rise of hybrid, ‘net localities.’ Further, since its introduction in 2003 by Chesbrough, the concept of open innovation received increased attention as a topic in academic research as well as an innovation strategy applied by companies. Open innovation allows companies to seek and release intellectual property and new ideas from outside of their own company. As a consequence, the innovation process is no longer only managed within the company, but it is pursued in a co-creation process with customers, suppliers, and other stakeholders. Quirky.com (Quirky), a company founded by Ben Kaufman in 2009, recognised the opportunity given by the Internet for knowledge exchange and open innovation. Quirky developed an online platform that makes innovation available to everyone. This paper reports on a study that analysed Quirky’s business process in an extended event-driven process chain (eEPC). The aim was to determine how the platform enabled crowdsourced innovation for physical products on the Internet. The analysis reveals that key elements of the business model are based on open innovation. Quirky is an example of how open innovation can support crowdsourced and crowdfunded product ideation, development and selling. The company opened up various stages in the innovation process to its members to contribute in the product development, e.g. product ideation, design, and market research. Throughout the process, members earn influence through participating in the product development. Based on the influence they receive, shares on the product’s turnover. The outcomes of the study’s analysis highlighted certain benefits of open innovation for product development. The paper concludes with recommendations for future research to look into opportunities of open innovation approaches to be adopted by tertiary institutions as a novel way to commercialise research intellectual property.

Keywords: business process, crowdsourced innovation, open innovation, Quirky

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Authors: Seok Hong Min, Tae Kwon Ha

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With the increasing interest on Ti alloys, the extraction process of Ti from its typical ore, TiO₂, has long been and will be important issue. As an intermediate product for the production of pigment or titanium metal sponge, tetrachloride (TiCl₄) is produced by fluidized bed using high TiO₂ feedstock. The purity of TiCl₄ after chlorination is subjected to the quality of the titanium feedstock. Since the impurities in the TiCl₄ product are reported to final products, the purification process of the crude TiCl₄ is required. The purification process includes fractional distillation and chemical treatment, which depends on the nature of the impurities present and the required quality of the final product. In this study, thermodynamic analysis on the impurity effect in the chlorination process, which is the first step of extraction of Ti from TiO₂, has been conducted. All thermodynamic calculations were performed using the FactSage thermodynamical software.

Keywords: rutile, titanium, chlorination process, impurities, thermodynamic calculation, FactSage

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Authors: Weeraya Samnuknit, Apichat Boontawan

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A vacuum fractionation technique was introduced to remove ethanol from fermentation broth. The effect of initial glucose and ethanol concentrations were investigated for specific productivity. The inhibitory ethanol concentration was observed at 100 g/L. In order to increase the fermentation performance, the ethanol product was removed as soon as it is produced. The broth was boiled at 35°C by reducing the pressure to 65 mBar. The ethanol/water vapor was fractionated for up to 90 wt% before leaving the column. Ethanol concentration in the broth was kept lower than 25 g/L, thus minimized the product inhibition effect to the yeast cells. For batch extractive fermentation, a high substrate utilization rate was obtained at 26.6 g/L.h and most of glucose was consumed within 21 h. For repeated-batch extractive fermentation, addition of glucose was carried out up to 9 times and ethanol was produced more than 8-fold higher than batch fermentation.

Keywords: ethanol, extractive fermentation, product inhibition, vacuum fractionation

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Authors: Ebrahim Sabermaash Eshghi, Donna Sandsmark

Abstract:

Nowadays, successful companies try to create a reliable and unique competitive position in the market. It is important to consider that only choosing and codifying a competitive strategy appropriate with the market conditions does not have any influence on the final performance of the company by itself, but it is the connection and interaction between upstream level strategies and functional level strategies which leads to development of company performance in its operating environment. Given the importance of the subject, this study tries to investigate effective factors on product performance and prioritize them. This study was done with quantitative-qualitative approach (interview and questionnaire). In sum, 103 informed managers and experts of Pars-Khazar Company were investigated in a census. Validity of measure tools was approved through experts’ judgments. Reliability of the tools was also gained through Cronbach's Alpha Coefficient as 0.930 and in sum, validity and reliability of the tools was approved generally. Analysis of collected data was done through Spearman Correlation Test and Friedman Test using SPSS software. The results showed that management of distribution and demand process (0.675), management of Product Pre-test (0.636) and Manufacturing and inventory management(0.628) had the highest correlation with product performance. Prioritization of factors of structure of launching new products based on the average showed that management of volume of launched products and Manufacturing and inventory management had the most importance.

Keywords: product performance, home appliances, market, case study

Procedia PDF Downloads 189

Authors: Mohamed Wahba

Abstract:

Objective: To build a comparative arm for product (X) in specific gene mutated advanced gastrointestinal cancer using real world evidence to fulfill HTA requirements in drug evaluation. Methods: Data for product (X) were collected from phase II clinical trial while real world data for (Y) and (Z) were collected from US database. Real-world (RW) cohorts were matched to clinical trial base line characteristics using weighting by odds method. Outcomes included progression-free survival (PFS) and overall survival (OS) rates. Study location and participants: Internationally (product X, n=80) and from USA (Product Y and Z, n=73) Results: Two comparisons were made: trial cohort 1 (X) versus real-world cohort 1 (Z), trial cohort 2 (X) versus real-world cohort 2 (Y). For first line, the median OS was 9.7 months (95% CI 8.6- 11.5) and the median PFS was 5.2 months (95% CI 4.7- not reached) for real-world cohort 1. For second line, the median OS was 10.6 months (95% CI 4.7- 27.3) for real-world cohort 2 and the median PFS was 5.0 months (95% CI 2.1- 29.3). For OS analysis, results were statistically significant but not for PFS analysis. Conclusion: This study provided the clinical comparative outcomes needed for HTA evaluation.

Keywords: real world evidence, pharmacoeconomics, HTA agencies, oncology

Procedia PDF Downloads 42

Authors: Adil Basuki Ahza, Michael Liong, Subarna Suryatman

Abstract:

Healthy chips now dominating the snack market shelves. More than 80% processed snack foods in the market are chips. This research takes the advantages of twin extrusion technology to produce two types of product, i.e. directly expanded and intermediate ready-to-fry or microwavable chips. To improve the functional quality, the cereal-tuber based mix was enriched with antioxidant rich mix of temurui, celery, carrot and isolated soy protein (ISP) powder. Objectives of this research were to find best composite cassava-sorghum ratio, i.e. 60:40, 70:30 and 80:20, to optimize processing conditions of extrusion and study the microstructural, physical and sensorial characteristics of the final products. Optimization was firstly done by applying metering section of extruder barrel temperatures of 120, 130 and 140 °C with screw speeds of 150, 160 and 170 rpm to produce direct expanded product. The intermediate product was extruded in 100 °C and 100 rpm screw speed with feed moisture content of 35, 40 and 45%. The directly expanded products were analyzed for color, hardness, density, microstructure, and organoleptic properties. The results showed that interaction of ratio of cassava-sorghum and cooking methods affected the product's color, hardness, and bulk density (p<0.05). Extrusion processing conditions also significantly affected product's microstructure (p<0.05). The direct expanded snacks of 80:20 cassava-sorghum ratio and fried expanded one 70:30 and 80:20 ratio shown the best organoleptic score (slightly liked) while baking the intermediate product with microwave were resulted sensorial not acceptable quality chips.

Keywords: cassava-sorghum composite, extrusion, microstructure, physical characteristics

Procedia PDF Downloads 235

Authors: Mohammad Azam

Abstract:

This work is an endeavor to empirically investigate the Gross Domestic Product-Growth as mediating variable between various factors and portfolio returns using a broad sample of 522 financial and non-financial firms enlisted on Pakistan Stock Exchange between January-1993 and June-2022. The study employs the Structural Equation modeling and Ordinary Least Square regression to determine the findings before and during the Covid-19 epidemiological situation, which has not received due attention by researchers. The analysis reveals that market and investment factors are redundant, whereas size and value show significant results, whereas Gross Domestic Product-Growth performs significant mediating impact for the whole time frame. Using before Covid-19 period, the results reveal that market, value, and investment are redundant, but size, profitability, and Gross Domestic Product-Growth are significant. During the Covid-19, the statistics indicate that market and investment are redundant, though size and Gross Domestic Product-Growth are highly significant, but value and profitability are moderately significant. The Ordinary Least Square regression shows that market and investment are statistically insignificant, whereas size is highly significant but value and profitability are marginally significant. Using the Gross Domestic Product-Growth augmented model, a slight growth in R-square is observed. The size, value and profitability factors are recommended to the investors for Pakistan Stock Exchange. Conclusively, in the Pakistani market, the Gross Domestic Product-Growth indicates a feeble moderating effect between risk-premia and portfolio returns.

Keywords: asset pricing puzzle, mediating role of GDP-growth, structural equation modeling, COVID-19 pandemic, Pakistan stock exchange

Procedia PDF Downloads 31