Search results for: appraisal costs
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 2356

Search results for: appraisal costs

2296 Analysis of the Production Time in a Pharmaceutical Company

Authors: Hanen Khanchel, Karim Ben Kahla

Abstract:

Pharmaceutical companies are facing competition. Indeed, the price differences between competing products can be such that it becomes difficult to compensate them by differences in value added. The conditions of competition are no longer homogeneous for the players involved. The price of a product is a given that puts a company and its customer face to face. However, price fixing obliges the company to consider internal factors relating to production costs and external factors such as customer attitudes, the existence of regulations and the structure of the market on which the firm evolved. In setting the selling price, the company must first take into account internal factors relating to its costs: costs of production fall into two categories, fixed costs and variable costs that depend on the quantities produced. The company cannot consider selling below what it costs the product. It, therefore, calculates the unit cost of production to which it adds the unit cost of distribution, enabling it to know the unit cost of production of the product. The company adds its margin and thus determines its selling price. The margin is used to remunerate the capital providers and to finance the activity of the company and its investments. Production costs are related to the quantities produced: large-scale production generally reduces the unit cost of production, which is an asset for companies with mass production markets. This shows that small and medium-sized companies with limited market segments need to make greater efforts to ensure their profit margins. As a result, and faced with high and low market prices for raw materials and increasing staff costs, the company must seek to optimize its production time in order to reduce loads and eliminate waste. Then, the customer pays only value added. Thus, and based on this principle we decided to create a project that deals with the problem of waste in our company, and having as objectives the reduction of production costs and improvement of performance indicators. This paper presents the implementation of the Value Stream Mapping (VSM) project in a pharmaceutical company. It is structured as follows: 1) determination of the family of products, 2) drawing of the current state, 3) drawing of the future state, 4) action plan and implementation.

Keywords: VSM, waste, production time, kaizen, cartography, improvement

Procedia PDF Downloads 126
2295 A Study on the Impact of Perceived Benefits and Switching Costs of Consumers When Shifting from Brick and Mortar Store to Online Shopping of Apparels

Authors: Havisha Banda

Abstract:

Recent advancements in technology have facilitated commerce around the globe. The online medium of commerce has provided and will continue to provide great opportunities for consumers and businesses. Advancements in technology enable apparel stores, for instance, to improve their online services by using personalized virtual models allowing consumers to visualize the product on the model to determine correct sizing and fit. In addition to many advantages in online shopping the consumers will also have to undergo many types of switching costs in this process of buying apparel online. This study is to identify such switching costs and switching benefits from traditional shopping to online shopping and to understand what the consumers value the most. The scope of this study is to understand the types of switching costs and the factors that actually allow the consumers to shift from brick and mortar to online shopping and also to understand why a certain set of customers consider to purchase offline. Hence this study helps to understand the perceived cost and perceived benefit relation that the consumer draws in purchasing the garments online. This will help the upcoming e-commerce sites and brick and mortar store to understand the various factors and formulate new policies and implement strategies in their own ways to attract the customers and to retain them. A sample of 35 is considered for the process of laddered interviews. In the era of e-commerce there are people who feel comfortable to shop in a retail store rather than online purchase. Few respondents who shop online do not prefer to shop apparel online. Few respondents said that they shop online only for apparels. Most of the variables match in terms of switching costs and also in regard to benefits.

Keywords: e-commerce, switching costs, switching benefits, apparel shopping

Procedia PDF Downloads 287
2294 Expert System for Road Bridge Constructions

Authors: Michael Dimmer, Holger Flederer

Abstract:

The basis of realizing a construction project is a technically flawless concept which satisfies conditions regarding environment and costs, as well as static-constructional terms. The presented software system actively supports civil engineers during the setup of optimal designs, by giving advice regarding durability, life-cycle costs, sustainability and much more. A major part of the surrounding conditions of a design process is gathered and assimilated by experienced engineers subconsciously. It is a question about eligible building techniques and their practicability by considering emerging costs. Planning engineers have acquired many of this experience during their professional life and use them for their daily work. Occasionally, the planning engineer should disassociate himself from his experience to be open for new and better solutions which meet the functional demands, as well. The developed expert system gives planning engineers recommendations for preferred design options of new constructions as well as for existing bridge constructions. It is possible to analyze construction elements and techniques regarding sustainability and life-cycle costs. This way the software provides recommendations for future constructions. Furthermore, there is an option to design existing road bridges especially for heavy duty transport. This implies a route planning tool to get quick and reliable information as to whether the bridge support structures of a transport route have been measured sufficiently for a certain heavy duty transport. The use of this expert system in bridge planning companies and building authorities will save costs massively for new and existent bridge constructions. This is achieved by consequently considering parameters like life-cycle costs and sustainability for its planning recommendations.

Keywords: expert system, planning process, road bridges, software system

Procedia PDF Downloads 251
2293 Appraisal of Incentive Schemes for Employees: A Case of Construction Smes

Authors: B. M. Arthur-Aidoo, C. O. Aigbavboa, W. D. Thwala

Abstract:

The performance of construction employees cannot be underestimated if the success of construction projects are to be achieved. This is because the construction industry has been characterised as labour oriented sector, which most of its activities being executed by labour. In the construction sector, employees are driven by incentive schemes which perform encourage and motivate workers for higher efficiency and higher output. The construction sector, however, depends mainly on its labour. In view of the sector's high dependency on its employees, that there must be a significant incentive scheme which must be established to act as a stimulus to drive high performance from employees among the various known incentive packages. This study, therefore, seeks to appraise the incentive packages adopted by construction SMEs. To establish reliable findings that will contribute to knowledge, the study utilised an exploratory approach via semi-structured interviews among sampled construction professionals with the requisite expertise on employees' incentive schemes. The study further established that although incentive schemes are classified in various ways and mediums that act as stimuli to encourage high performance among employees, some are more influential and impacts performance than others. Additionally, the study concludes that medical allowance, holiday with pay, free working tools, and training for employees were ranked the most influential incentives that promote high outputs by workers within the construction SME sector.

Keywords: appraisal, construction, employees, incentive, small and medium-sized enterprises, SMEs

Procedia PDF Downloads 101
2292 Evaluating the Total Costs of a Ransomware-Resilient Architecture for Healthcare Systems

Authors: Sreejith Gopinath, Aspen Olmsted

Abstract:

This paper is based on our previous work that proposed a risk-transference-based architecture for healthcare systems to store sensitive data outside the system boundary, rendering the system unattractive to would-be bad actors. This architecture also allows a compromised system to be abandoned and a new system instance spun up in place to ensure business continuity without paying a ransom or engaging with a bad actor. This paper delves into the details of various attacks we simulated against the prototype system. In the paper, we discuss at length the time and computational costs associated with storing and retrieving data in the prototype system, abandoning a compromised system, and setting up a new instance with existing data. Lastly, we simulate some analytical workloads over the data stored in our specialized data storage system and discuss the time and computational costs associated with running analytics over data in a specialized storage system outside the system boundary. In summary, this paper discusses the total costs of data storage, access, and analytics incurred with the proposed architecture.

Keywords: cybersecurity, healthcare, ransomware, resilience, risk transference

Procedia PDF Downloads 109
2291 Vehicle Routing Problem with Mixed Fleet of Conventional and Heterogenous Electric Vehicles and Time Dependent Charging Costs

Authors: Ons Sassi, Wahiba Ramdane Cherif-Khettaf, Ammar Oulamara

Abstract:

In this paper, we consider a new real-life Heterogenous Electric Vehicle Routing Problem with Time Dependant Charging Costs and a Mixed Fleet (HEVRP-TDMF), in which a set of geographically scattered customers have to be served by a mixed fleet of vehicles composed of a heterogenous fleet of Electric Vehicles (EVs), having different battery capacities and operating costs, and Conventional Vehicles (CVs). We include the possibility of charging EVs in the available charging stations during the routes in order to serve all customers. Each charging station offers charging service with a known technology of chargers and time-dependent charging costs. Charging stations are also subject to operating time windows constraints. EVs are not necessarily compatible with all available charging technologies and a partial charging is allowed. Intermittent charging at the depot is also allowed provided that constraints related to the electricity grid are satisfied. The objective is to minimize the number of employed vehicles and then minimize the total travel and charging costs. In this study, we present a Mixed Integer Programming Model and develop a Charging Routing Heuristic and a Local Search Heuristic based on the Inject-Eject routine with three different insertion strategies. All heuristics are tested on real data instances.

Keywords: charging problem, electric vehicle, heuristics, local search, optimization, routing problem

Procedia PDF Downloads 436
2290 Coping Mechanisms of Batangueño Families Facing Cancer

Authors: Aiza G. Clanor, Lotlot B. Hernandez, Jonna Marie T. Ibuna

Abstract:

This study aimed to know the coping mechanisms of Batangueño families facing cancer, specifically, those from Cancer Warriors Foundation, Inc. Batangas chapter. The researchers used purposive sampling. This study was limited to the responses provided by the Batangueño families of the cancer patients. A family member of the immediate family with a child facing cancer represents the family as a whole. A total number of forty six (46) respondents were given the questionnaires. Upon analysis, most of the respondents came from rural areas and nuclear family and have Php 5000 and below family monthly income. Most of them have their own houses, and 3 to 5 members, one of whom is a cancer patient diagnosed for more than 2 years. The two most frequently utilized coping strategies were mobilizing the family to acquire and accept help, and reframing. Passive appraisal is the least utilized one. There was a significant difference on the coping mechanisms of the family relative to passive appraisal based on the length of time since the illness was first diagnosed. Based from the study, the researchers developed modules with discussions and activities on cancer awareness, ideas on coping and how to deal with the cancer patients that may help the respondents and other Batangueño families overcome the difficulties in facing cancer. The researchers recommend the modules for they are found to be effective ways to help the families relieve stress, reduce anxiety and improve quality of life.

Keywords: coping with chronic illness, family, psychology, cancer

Procedia PDF Downloads 508
2289 Mitigating the Cost of Empty Container Repositioning through the Virtual Container Yard: An Appraisal of Carriers’ Perceptions

Authors: L. Edirisinghe, Z. Jin, A. W. Wijeratne, R. Mudunkotuwa

Abstract:

Empty container repositioning is a fundamental problem faced by the shipping industry. The virtual container yard is a novel strategy underpinning the container interchange between carriers that could substantially reduce this ever-increasing shipping cost. This paper evaluates the shipping industry perception of the virtual container yard using chi-square tests. It examines if the carriers perceive that the selected independent variables, namely culture, organization, decision, marketing, attitudes, legal, independent, complexity, and stakeholders of carriers, impact the efficiency and benefits of the virtual container yard. There are two major findings of the research. Firstly, carriers view that complexity, attitudes, and stakeholders may impact the effectiveness of container interchange and may influence the perceived benefits of the virtual container yard. Secondly, the three factors of legal, organization, and decision influence only the perceived benefits of the virtual container yard. Accordingly, the implementation of the virtual container yard will be influenced by six key factors, namely complexity, attitudes, stakeholders, legal, organization and decision. Since the virtual container yard could reduce overall shipping costs, it is vital to examine the carriers’ perception of this concept.

Keywords: virtual container yard, imbalance, management, inventory

Procedia PDF Downloads 164
2288 Reducing Inventory Costs by Reducing Inventory Levels: Kuwait Flour Mills and Bakeries Company

Authors: Dana Al-Qattan, Faiza Goodarzi, Heba Al-Resheedan, Kawther Shehab, Shoug Al-Ansari

Abstract:

This project involves working with different types of forecasting methods and facility planning tools to help the company we have chosen to improve and reduce its inventory, increase its sales, and decrease its wastes and losses. The methods that have been used by the company have shown no improvement in decreasing the annual losses. The research made in the company has shown that no interest has been made in exploring different techniques to help the company. In this report, we introduce several methods and techniques that will help the company make more accurate forecasts and use of the available space efficiently. We expect our approach to reduce costs without affecting the quality of the product, and hence making production more viable.

Keywords: production planning, inventory management, inventory control, simulation, facility planning and design, engineering economy and costs

Procedia PDF Downloads 539
2287 Intelligent Tooling Embedded Sensors for Monitoring the Wear of Cutting Tools in Turning Applications

Authors: Hatim Laalej, Jon Stammers

Abstract:

In machining, monitoring of tool wear is essential for achieving the desired dimensional accuracy and surface finish of a machined workpiece. Currently, the task of monitoring the wear on the cutting tool is carried out by the operator who performs manual inspections of the cutting tool, causing undesirable stoppages of machine tools and consequently resulting in costs incurred from loss of productivity. The cutting tool consumable costs may also be higher than necessary when tools are changed before the end of their useful life. Furthermore, damage can be caused to the workpiece when tools are not changed soon enough leading to a significant increase in the costs of manufacturing. The present study is concerned with the development of break sensor printed on the flank surface of poly-crystalline diamond (PCD) cutting to perform on-line condition monitoring of the cutting tool used to machine Titanium Ti-6al-4v bar. The results clearly show that there is a strong correlation between the break sensor measurements and the amount of wear in the cutting tool. These findings are significant in that they help the user/operator of the machine tool to determine the condition of the cutting tool without the need of performing manual inspection, thereby reducing the manufacturing costs such as the machine down time.

Keywords: machining, manufacturing, tool wear, signal processing

Procedia PDF Downloads 203
2286 Change of Epidemiological Characteristics and Disease Burden of Varicella Due to Implementation of Mass Immunization Program in Taiwan from 2000 to 2012

Authors: En-Tzu Wang, Ting-Ann Wang, Yi-Hui Shen, Yu-Min Chou, Chi-Tai Fang, Chin-Hui Yang

Abstract:

Background and purpose: A mass varicella immunization program was established to provide free 1-dose vaccination for all 1-year-old children throughout Taiwan since 2004. The epidemiological characteristics and disease burden of varicella from 2000 to 2012 was investigated and the results will be essential to refine the national immunization policy. Method: We included patients (n = 17,838–164,245) with ICD-9-CM codes 052 (chickenpox) from the 2000 to 2012 National Health Insurance Database. The age, period, and cohort-specific incidence of varicella were calculated. The hospital admission rate, medical costs and indirect costs from the societal perspective of varicella including travel costs to the medical facility, registration fee, productivity losses of the patients and caregivers were also estimated. Result: There were 979,252 patients for medical treatment due to varicella from 2000 to 2012 in Taiwan. The implementation of a routine childhood varicella vaccination program has resulted in 87% decline in morbidity (881.49 to 115.17 per 100,000). The average age of patients increased from 7.9 years to 16.3 years. The overall varicella-related hospital admission rate was 15.5 per 1000 patients, and peaked in the groups of infants younger than 1 year, adults aged from 20 to 39 years and elders over 70 years. Among patients admitted to hospital, 33.5% of them had one or more complications. Patients with underlying diseases had higher admission rate (241.6 per 1,000) and longer duration of hospital stay (6.61 days vs. 4.76 days). The annual varicella-related medical expense declined after 2002 and the proportion of medical costs for admission has increased to 42%. The annual indirect costs from the societal perspective of varicella were 5.29 to 9.63 times higher than varicella-related medical costs. Every one dollar invested in the varicella immunization program, 2.97 dollars of medical and social costs were saved on average. Conclusion: The dramatic decline in morbidity, hospitalization, medical and social costs of varicella can be directly attributed to the implementation of the mass immunization program. Two-dose vaccination is recommended for both children with underlying diseases and susceptible adults to prevent serious complications and hospitalizations.

Keywords: disease burden, epidemiology, medical and social costs, varicella, varicella vaccine

Procedia PDF Downloads 365
2285 Impact of Treatment of Fragility Fractures Due to Osteoporosis as an Economic Burden Worldwide: A Systematic Review

Authors: Fabiha Tanzeem

Abstract:

BACKGROUND: Osteoporosis is a skeletal disease that is associated with a reduction in bone mass and microstructures of the bone and deterioration of bone tissue. Fragility fracture due to osteoporosis is the most significant complication of osteoporosis. The increasing prevalence of fragility fractures presents a growing burden on the global economy. There is a rapidly evolving need to improve awareness of the costs associated with these types of fractures and to review current policies and practices for the prevention and management of the disease. This systematic review will identify and describe the direct and indirect costs associated with osteoporotic fragility fractures from a global perspective from the included studies. The review will also find out whether the costs required for the treatment of fragility fractures due to osteoporosis impose an economic burden on the global healthcare system. METHODS: Four major databases were systematically searched for direct and indirect costs of osteoporotic fragility fracture studies in the English Language. PubMed, Cochrane Library, Embase and Google Scholar were searched for suitable articles published between 1990 and July 2020. RESULTS: The original search yielded 1166 papers; from these, 27 articles were selected for this review according to the inclusion and exclusion criteria. In the 27 studies, the highest direct costs were associated with the treatment of pelvic fractures, with the majority of the expenditure due to hospitalization and surgical treatments. It is also observed that most of the articles are from developed countries. CONCLUSION: This review indicates the significance of the economic burden of osteoporosis globally, although more research needs to be done in developing countries. In the treatment of fragility fractures, direct costs were the main reported expenditure in this review. The healthcare costs incurred globally can be significantly reduced by implementing measures to effectively prevent the disease. Raising awareness in children and adults by improving the quality of the information available and standardising policies and planning of services requires further research.

Keywords: systematic review, osteoporosis, cost of illness

Procedia PDF Downloads 138
2284 Simulation-Based Optimization Approach for an Electro-Plating Production Process Based on Theory of Constraints and Data Envelopment Analysis

Authors: Mayada Attia Ibrahim

Abstract:

Evaluating and developing the electroplating production process is a key challenge in this type of process. The process is influenced by several factors such as process parameters, process costs, and production environments. Analyzing and optimizing all these factors together requires extensive analytical techniques that are not available in real-case industrial entities. This paper presents a practice-based framework for the evaluation and optimization of some of the crucial factors that affect the costs and production times associated with this type of process, energy costs, material costs, and product flow times. The proposed approach uses Design of Experiments, Discrete-Event Simulation, and Theory of Constraints were respectively used to identify the most significant factors affecting the production process and simulate a real production line to recognize the effect of these factors and assign possible bottlenecks. Several scenarios are generated as corrective strategies for improving the production line. Following that, data envelopment analysis CCR input-oriented DEA model is used to evaluate and optimize the suggested scenarios.

Keywords: electroplating process, simulation, design of experiment, performance optimization, theory of constraints, data envelopment analysis

Procedia PDF Downloads 63
2283 Increasing the Capacity of Plant Bottlenecks by Using of Improving the Ratio of Mean Time between Failures to Mean Time to Repair

Authors: Jalal Soleimannejad, Mohammad Asadizeidabadi, Mahmoud Koorki, Mojtaba Azarpira

Abstract:

A significant percentage of production costs is the maintenance costs, and analysis of maintenance costs could to achieve greater productivity and competitiveness. With this is mind, the maintenance of machines and installations is considered as an essential part of organizational functions and applying effective strategies causes significant added value in manufacturing activities. Organizations are trying to achieve performance levels on a global scale with emphasis on creating competitive advantage by different methods consist of RCM (Reliability-Center-Maintenance), TPM (Total Productivity Maintenance) etc. In this study, increasing the capacity of Concentration Plant of Golgohar Iron Ore Mining & Industrial Company (GEG) was examined by using of reliability and maintainability analyses. The results of this research showed that instead of increasing the number of machines (in order to solve the bottleneck problems), the improving of reliability and maintainability would solve bottleneck problems in the best way. It should be mention that in the abovementioned study, the data set of Concentration Plant of GEG as a case study, was applied and analyzed.

Keywords: bottleneck, golgohar iron ore mining & industrial company, maintainability, maintenance costs, reliability

Procedia PDF Downloads 321
2282 An Appraisal of Revenue Collection in Local Government: A Case Study of Boripe Local Government Iragbiji Osun State

Authors: Olanike O. Akinwale, Isiaka S. Adedoyin

Abstract:

Revenue is a fund realized by the government to meet both current and capital expenditures. The study found out the various ways through which local governments in Nigeria generate revenue or obtain funds and determined whether the people of Boripe local government are paying tax as at when due and also evaluated how the revenue generated is being used by the local government. During the course of this study, research questionnaires were drafted and distributed to respondents in the local government secretariat who supplied the information needed to carry out the research work. Data were collected by using simple random sampling technique where members of the population have been given equal chance of being picked as a member of the sample. Data were analysed using chart table; the chart analyzed the figure of the past two years revenue and expenditure of the local government. It was deduced from the result that revenue generated but this was not up to what one expected for this local government to finance the projected expenditure when the size was considered, its location as well as its natural endowment of this local government. This was due to lack of cooperation of the people and staffs within the local government in the local government jurisdiction as well as fraudulent activities the revenue collectors engaged in. Revenue generation is a fuel for development in any organization whether public or private. The ability of revenue drive of Boripe was not strong enough since the targeted revenue from taxation was not enough to meet the projected expenditure for a particular year as in 2016, the difference was carried forward to the next year.

Keywords: appraisal, expenditure, local government, questionnaire, revenue

Procedia PDF Downloads 419
2281 Algorithm for Recognizing Trees along Power Grid Using Multispectral Imagery

Authors: C. Hamamura, V. Gialluca

Abstract:

Much of the Eclectricity Distributors has about 70% of its electricity interruptions arising from cause "trees", alone or associated with wind and rain and with or without falling branch and / or trees. This contributes inexorably and significantly to outages, resulting in high costs as compensation in addition to the operation and maintenance costs. On the other hand, there is little data structure and solutions to better organize the trees pruning plan effectively, minimizing costs and environmentally friendly. This work describes the development of an algorithm to provide data of trees associated to power grid. The method is accomplished on several steps using satellite imagery and geographically vectorized grid. A sliding window like approach is performed to seek the area around the grid. The proposed method counted 764 trees on a patch of the grid, which was very close to the 738 trees counted manually. The trees data was used as a part of a larger project that implements a system to optimize tree pruning plan.

Keywords: image pattern recognition, trees pruning, trees recognition, neural network

Procedia PDF Downloads 475
2280 The Effects of Logistical Centers Realization on Society and Economy

Authors: Anna Dolinayova, Juraj Camaj, Martin Loch

Abstract:

Presently it is necessary to ensure the sustainable development of passenger and freight transport. Increasing performance of road freight have been a negative impact to environment and society. It is therefore necessary to increase the competitiveness of intermodal transport, which is more environmentally friendly. The study describe the effectiveness of logistical centers realization for companies and society and research how the partial internalization of external costs reflected in the efficient use of these centers and increase the competitiveness of intermodal transport to road freight. In our research, we use the method of comparative analysis and market research to describe the advantages of logistic centers for their users as well as for society as a whole. Method normal costing is used for calculation infrastructure and total costs, method of conversion costing for determine the external costs. We modelling of total society costs for road freight transport and inter modal transport chain (we assumed that most of the traffic is carried by rail) with different loading schemes for condition in the Slovak Republic. Our research has shown that higher utilization of inter modal transport chain do good not only for society, but for companies providing freight services too. Increase in use of inter modal transport chain can bring many benefits to society that do not bring direct immediate financial return. They often bring the multiplier effects, such as greater use of environmentally friendly transport mode and reduce the total society costs.

Keywords: delivery time, economy effectiveness, logistical centers, ecological efficiency, optimization, society

Procedia PDF Downloads 410
2279 Role of HRM Practices on Business Success: The Case of Small and Medium Enterprises (SMEs)

Authors: Asma Dill

Abstract:

The aim of this study is to explore the role of HRM practices in SMEs success. The role of HRM practices in large enterprises is relatively known, on the other hand, small and medium enterprises (SMEs) companies have not been greatly studied in relation to the HRM practices in the past. Although, there is a lack of literature and empirical research in this area, several studies in the recent years emphasized on the importance of the HRM practices for the success of the SMEs. This study finds out relationship of HRM practices and SMESs performances. The objective is to analyze significant impacts of HRM practices (training, performance appraisal, compensation and employee development) on SMEs success, to determine whether SMEs recognize the importance of HRM practices in their businesses. To carry out this research a survey research strategy was followed. The sample frame for this study consisted of firms that belong to the services and commerce sector, employing at least 50 employees. The final research sample consisted of questionnaires. Descriptive statistical methods have been used during quantitative analysis to explore the relations. The findings of the study revealed that HRM practices have a significant influence on the performance of SMEs, and the better the HRM practice, the higher the performance of the SMEs. HRM practices, including, training, compensation, performance appraisal and employee development, have been found to be significantly and positively related to business success. Outcome of the study will provide useful guidelines to the business organizations. This study contributes to knowledge by providing insights on the impact of HRM practices on SMEs performance.

Keywords: compensation, employee performance, HRM practices, training

Procedia PDF Downloads 148
2278 Political Determinants of Sovereign Spread: The Great East-West Divide

Authors: Maruska Vizek, Josip Glaurdic, Marina Tkalec, Goran Vuksic

Abstract:

We empirically explore whether and how taxation affects bilateral real exchange rates in the euro area – relative unit labor costs and relative consumer price indices. We find that employers’ social security contributions and the value added tax changes have the expected effects put forward in the fiscal devaluation literature and simulations. Increases in employers’ contributions appreciate the relative unit labor costs in the short- and the long-run, while value added tax hike appreciates the relative consumer prices. Somewhat surprisingly, for personal income tax increases, we find a short-run depreciating impact on the relative unit labor costs, while increases in employees’ contributions depreciate both measures of real exchange rates in the short-run.

Keywords: sovereign bonds, European Union, developing countries, political determinants

Procedia PDF Downloads 275
2277 An Optimal Algorithm for Finding (R, Q) Policy in a Price-Dependent Order Quantity Inventory System with Soft Budget Constraint

Authors: S. Hamid Mirmohammadi, Shahrazad Tamjidzad

Abstract:

This paper is concerned with the single-item continuous review inventory system in which demand is stochastic and discrete. The budget consumed for purchasing the ordered items is not restricted but it incurs extra cost when exceeding specific value. The unit purchasing price depends on the quantity ordered under the all-units discounts cost structure. In many actual systems, the budget as a resource which is occupied by the purchased items is limited and the system is able to confront the resource shortage by charging more costs. Thus, considering the resource shortage costs as a part of system costs, especially when the amount of resource occupied by the purchased item is influenced by quantity discounts, is well motivated by practical concerns. In this paper, an optimization problem is formulated for finding the optimal (R, Q) policy, when the system is influenced by the budget limitation and a discount pricing simultaneously. Properties of the cost function are investigated and then an algorithm based on a one-dimensional search procedure is proposed for finding an optimal (R, Q) policy which minimizes the expected system costs .

Keywords: (R, Q) policy, stochastic demand, backorders, limited resource, quantity discounts

Procedia PDF Downloads 616
2276 Hospital Workers’ Psychological Resilience after 2015 Middle East Respiratory Syndrome Outbreak

Authors: Myoungsoon You, Heejung Son

Abstract:

During a pandemic, hospital workers should protect not only their vulnerable patients but also themselves from the consequences of rapidly spreading infection. However, the evidence on the psychological impact of an outbreak on hospital workers is limited. In this study, we aim to assess hospital workers’ psychological well-being and function at the workplace after an outbreak, by focusing on ‘psychological resilience’. Specifically, the effects of risk appraisal, emotional experience, and coping ability on resilience indicated by the likelihood of post-traumatic syndrome disorder and willingness to work were investigated. Such role and position of each factor were analyzed using a path model, and the result was compared between the healthcare worker and non-healthcare worker groups. In the investigation, 280 hospital workers who experienced the 2015 Middle East Respiratory Syndrome outbreak in South Korea have participated. The result presented, in both groups, the role of the appraisal of risk and coping ability appeared consistent with a previous research, that was, the former interrupted resilience while the latter facilitated it. In addition, the role of emotional experience was highlighted as, in both groups, emotional disruption not only directly associated with low resilience but mediated the effect of perceived risk on resilience. The differences between the groups were also identified, which were, the role of emotional experience and coping ability was more prominent in the non-HCW group in explaining resilience. From the results, implications on how to support hospital personnel during an outbreak in a way to facilitate their resilience after the outbreak were drawn.

Keywords: hospital workers, emotions, infectious disease outbreak, psychological resilience

Procedia PDF Downloads 216
2275 Covid-19 Pandemic: Another Lesson Learned by a Military Hospital

Authors: Mariana Floria, Elena-Diana Năfureanu, Diana-Mihaela Gălăţanu, Anca-Ecaterina Grumeza, Cristina Gorea-Bocîncă, Diana-Elena Iov, Aurelian-Corneliu Moraru, Dragoș-Marian Popescu

Abstract:

SARS-CoV-2 is the most deadly and devastating virus of the last one hundred years, being more highly contagious than EBOLA, HIV, Swine Influenza, Severe Acute Respiratory Syndrome, or Middle Eastern Respiratory Syndrome. After two years of pandemic, planning and budgeting for use of healthcare resources and services is very important. The aim of this study was to analyze the costs for hospital stay in patients with predominantly moderate forms of COVID-19 in a support military hospital located in Nord-East of Romania. Inpatient COVID-19 hospitalizations costs, regardless of ICD-10 procedure codes (DRG payment), in a Covid-19 support military hospital were analyzed. From August 2020 through June 2021, 241 patientswere hospitalized. Our national protocol for the treatment of Covid-19 infection was applied. The main COVID-19 manifestations were: 69% respiratory (18% with severe pneumonia, 2.9% with pulmonary embolism, diagnosed by angio-computed tomography), 3.3% cardiac, 28% digestive, and 33% psychiatric (most common anxiety) manifestations. According to COVID-19 severity, most of the patients had moderate (104 patients – 43%) and severe (50 patients - 21%) forms. Seven patients with severe form died because of multiple comorbidities, and 30 patients were transferred in hospitals with COVID-19 intensive care units.Only two patients have had procalcitonin>10 ng/mL (high probability of severe sepsis or septic shock), and 1 patient had moderate risk for septic shock (0.5 - 2 ng/mL). The average estimated costs were about 3000€/patient, without significantly differences depending on disease severity. Equipment costs were 2 times higher than for drugs and 4 times than for laboratory tests. In a Covid-19 support military hospital that took care for predominantly moderate forms of COVID-19, the costs for equipment were much higher than that for treatment. Therefore, new criteria for hospitalization of these forms of COVID-19 deserve to be analyzed to avoid useless costs.

Keywords: Covid-19, costs, hospital stay, military hospital

Procedia PDF Downloads 148
2274 A Corpus-Based Study of Evaluative Language in Leading Articles in British Broadsheet and Tabloid Newspapers

Authors: Fatimah AlSaiari

Abstract:

In recent years, newspapers in the United Kingdom have been no longer just a means of sharing news about what happens in the world; they are also used to influence target readers by having them become more up-to-date, well-informed, entertained, exasperated, delighted, and infuriated. To achieve these objectives and maintain influence on public opinion, journalists use a particular language in which they can convey emotions and opinions, organize their discourse, and establish solidarity with their audience. This type of language has been widely analyzed under different labels, such as evaluation, appraisal, and stance. There is a considerable amount of linguistic and non-linguistic research devoted to analyzing this type of interpersonal language in journalistic discourse, and most of these studies were carried out to challenge the traditional assumptions of the objectivity and impartiality of news reporting. However, very little research has been undertaken on evaluative language in newspaper institutional editorials, and there is hardly any systematic or exhaustive analysis of this type of language in British tabloid and broadsheet newspapers. This study will attempt to provide new insights into the nature of authorial and non-authorial evaluation in leading articles in popular and quality British newspapers, along with their targets, sources, and discourse functions. The study will also attempt to develop a framework of evaluation that can be applied to evaluative lexical items in newspaper opinion texts. The framework is both theory-driven (i.e., it builds on and modifies previous frameworks of evaluation such as appraisal theory and parameter-based approach) and data-driven (i.e., it elicits the evaluative categories from the analysis of the corpus, which helps in the development of the current framework). To achieve this aim, a corpus of 140 leading articles were selected. The findings revealed that the tabloids tended to express their stance through explicitness, dramatization, frequent reference to social actors’ emotions and beliefs, and exaggeration in negativity, while the broadsheets preferred to express their stance through mitigation ambiguity and implicitness. conceptual themes and propositions were more preferable targets for expressing stance in the broadsheets while human behavior and characters were preferable targets for the tabloids.

Keywords: appraisal theory, evaluative language, British newspapers, broadsheets & tabloids, evaluative adjectives

Procedia PDF Downloads 267
2273 An Examination of the Relationship between Organizational Justice and Trust in the Supervisor: The Mediating Role of Perceived Supervisor Support

Authors: Michel Zaitouni, Mohamed Nassar

Abstract:

The purpose of this study is first, to explore the effect of employees’ perception of justice on trust in the supervisor in the context of performance appraisal; Second, to assess the role of perceived supervisor support as a mediator between organizational justice and trust in the supervisor in a non-western society such as Kuwait.The survey data consisted of 415 employees working at different hierarchical levels in three major banks in Kuwait. Hierarchical regression analysis was used to test the research hypotheses. Results supported hypothesized relationships between distributive, informational and interpersonal justice and trust in the supervisor but failed to support that procedural justice positively and significantly relate to trust in the supervisor. Moreover, results found that this relationship is partially mediated by perceived supervisor support. A potential limitation of this study is that data were obtained from the same industry which limits the generalizability of this study to other industries. Moreover, a longitudinal research will be helpful to strengthen the mediating relationship. The findings provide valuable information for the development of common perspectives regarding the perception of justice in the context of performance appraisal between the western and non-western societies. The paper has the privilege to explore additional relationships related to justice perceptions in the Kuwaiti banking sector, whereas previous research focused mainly on procedural and distributive justice as predictors of trust in the supervisor.

Keywords: Kuwait, organizational justice, perceived supervisor support, trust in the supervisor

Procedia PDF Downloads 279
2272 Thermal and Radon-222 Appraisal in Geothermal Aquifer System, Southeastern Tunisia

Authors: Agoubi Belgacem, Adel Kharroubi

Abstract:

Geothermal groundwater is the main water source to supply various sectors in El Hamma city, southeastern Tunisia. This region was long the destination of thousands of people from Tunisia and neighboring countries for care and bathing. The main objective of this study is to understand the groundwater mineralization origins and factors that control. The second goal is the appraisal of radon in geothermal groundwater in the study area. For this aim, geothermal groundwater was sampled and collected from different locations (thermal baths and deep wells). Physical parameters were measured and major ions were analyzed. Results reveal three water types. The water first type has Na-Mg-Ca-SO4-Cl facies and T>55°C. The second water type dominated by Na-Ca-Cl-SO4 facies with a temperature < 45 °C. However the third water type is dominated by Ca-SO4-Na-Cl-Mg. The three water types may be controlled by depth and geology. The first represent groundwater from deep aquifer (lower cretaceous), the second type was the shallow aquifer and the first is mixed water from deep and shallow water with a temperature ranging from 45 to 55°C. Measured Radon shows that shallow aquifer has a higher 222Rn concentration (677 to 2903 Bq.m-3) than deep water (203 to 1100 Bq.m-3). R-222 in El Hamma thermal aquifer was controlled by structures, porosity and permeability of aquifers. Geostatistical analyses of hydrogeological data and radon activities confirm the vertical flow and communication between deep and shallow aquifers through vertical faults system.

Keywords: Radon-222, geothermal, water, environment, Tunisia

Procedia PDF Downloads 331
2271 Onco@Home: Comparing the Costs, Revenues, and Patient Experience of Cancer Treatment at Home with the Standard of Care

Authors: Sarah Misplon, Wim Marneffe, Johan Helling, Jana Missiaen, Inge Decock, Dries Myny, Steve Lervant, Koen Vaneygen

Abstract:

The aim of this study was twofold. First, we investigated whether the current funding from the national health insurance (NHI) of home hospitalization (HH) for oncological patients is sufficient in Belgium. Second, we compared patient’s experiences and preferences of HH to the standard of care (SOC). Two HH models were examined in three Belgian hospitals and three home nursing organizations. In a first HH model, the blood draw and monitoring prior to intravenous therapy were performed by a trained home nurse at the patient’s home the day before the visit to the day hospital. In a second HH model, the administration of two subcutaneous treatments was partly provided at home instead of in the hospital. Therefore, we conducted (1) a bottom-up micro-costing study to compare the costs and revenues for the providers (hospitals and home care organizations), and (2) a cross-sectional survey to compare patient’s experiences and preferences of the SOC group and the HH group. Our results show that HH patients prefer HH and none of them wanted to return to SOC, although the satisfaction of patients was not significantly different between the two categories. At the same time, we find that costs associated to HH are higher overall. Comparing revenues with costs, we conclude that the current funding from NHI of HH for oncological patients is insufficient.

Keywords: cost analysis, health insurance, preference, home hospitalization

Procedia PDF Downloads 92
2270 A Relational View for Financial Metrics in Logistics Service Providers

Authors: Paulo Sergio Altman Ferreira

Abstract:

Relationship development plays an essential role in every logistics company. Logistics companies are service-based businesses essentially performing the flow of materials, housing, and inventory management for a wide range of customers. The service encounter between the logistics provider’s personnel and the customers may form a connection that will demonstrate a strong impact, not only to the customers' overall satisfaction but may also provide the perception of individualized services. Logistics services must drive value. It also shows a close influence on the quality and costs of client-centered services. If we describe logistics value creation as the function of quality perception of the client divided by service costs, there is a requirement to better outline and explain the measures and analytics for logistics costs and relationship performance. This critical shift to understand logistics services is a relevant contribution to capture how relationship value can be quantified. This might involve changing our current perspective on logistics providers beyond uniquely measuring the services in terms of activities, personnel levels, and financial/costs ratios. This paper argues that measuring value creation accomplishments of logistics services needs to consider the relational improvements for the wider range of logistics companies. Accurate logistics value requires a description of the financial impact of the relational perspective of the service.

Keywords: logistics services providers, financial metrics, relationship management, value creation

Procedia PDF Downloads 120
2269 Faults in the Projects, Deviation in the Cost

Authors: S. Ahmed, P. Dlask, B. Hasan

Abstract:

There are several ways to estimate the cost of the construction project: simple and detailed. The process of estimating cost is usually done during the design stage, which should take long-time and the designer must give attention to all details. This paper explain the causes of the deviations occurring in the cost of the construction project, and determines the reasons of these differences between contractual cost and final cost of the construction project, through the study of literature review related to this field, and benefiting from the experience of workers in the field of building (owners, contractors) through designing a questionnaire, and finding the most ten important reasons and explain the relation between the contractual cost and the final cost according to these reasons. The difference between those values will be showed through diagrams drawn using the statistical program. In addition to studying the effects of overrun costs on the advancing of the project, and identify the most five important effects. According to the results, we can propose the right direction for the final cost evaluation and propose some measures that would help to control and adjust the deviation in the costs.

Keywords: construction projects, building, cost, estimating costs, delay, overrun

Procedia PDF Downloads 265
2268 Linking Milk Price and Production Costs with Greenhouse Gas Emissions of Luxembourgish Dairy Farms

Authors: Rocco Lioy, Tom Dusseldorf, Aline Lehnen, Romain Reding

Abstract:

A study concerning both the rentability and ecological performance of dairy production in Luxembourg was carried out for the years 2017, 2018 and 2019. The data of 100 dairy farms, referring to the Greenhouse gas emissions (ecology) and the profitability (economy) of dairy production, were evaluated, and the average was compared to the corresponding figures of 80 Luxembourgish dairy farms evaluated in the years 2014, 2015 and 2016. The ecological evaluation could confirm that farm efficiency (especially defined as the lowest ratio between used feedstuff and produced milk) is the key driver for significantly reducing the level of emissions in dairy farms. In both farm groups and in the two periods, the efficient farms show almost the same level of emissions per kg ECM (1,17 kg CO2-eq) in comparison with intensive farms (1,13 kg CO2-eq), and at the same time a by far lowest level of emissions related to the production surface (9,9 vs. 13,9 t CO2-eq/ha). Concerning the economic performances, it could be observed that in the years 2017, 2018 and 2019, the intensive farms (we define intensity in the first place in terms of produced milk pro ha) reached a higher profit (incomes minus costs, only consideration for subsidies) than the efficient farms (4,8 vs. 2,6 €-cent/kg ECM), in contradiction with the observation of the years 2014, 2015 and 2015 (1,5 vs. 3,7 €-cent/kg ECM). The most important reason for this divergent behavior was a change in income and cost structure in the considered periods. In the last period (2017, 2018 and 2019), the milk price was considerably higher than in the previous period, and the production costs were lower. This was of advantage for intensive farms, which produce the highest quantity of milk with a high amount of production means. In the period 2014, 2015 and 2016, with lower milk prices but comparable production costs, the advantage was with efficient farms. In conclusion, we expect that in the next future, when especially the production costs will presumably be much higher than in the last years, the profitableness of dairy farming will decrease. In this case, we assume that efficient farms will provide not only an ecologically but also an economically better performance than production-intensive farms. High milk prices and low production costs are no good incentives for carbon-smart farming.

Keywords: efficiency, intensity, dairy, emissions, prices, costs

Procedia PDF Downloads 60
2267 Recovery of an Area Degraded by Gullies in the Municipality of Monte Alto (SP), Brazil

Authors: Layane Sara Vieira, Paulo Egidio Bernardo, Roberto Saverio Souza Costa

Abstract:

Anthropogenic occupations and agricultural explorations without concern for the preservation and sustainability of the activity result in soil degradation that can make rural activity unfeasible. The objective of this work was to characterize and evaluate the recovery costs of an area degraded by major erosion (gully) in the municipality of Monte Alto (SP). Topographic characterization was carried out by means of a planialtimetric survey with a total station. The contours of the gully, internal area, slope height, contribution area, volume, and costs of operations for the recovery of the gully were delimited. The results obtained showed that the gully has a length of 145.56 m, a maximum width of 36.61 m, and a gap of 19.48 m. The external area of the gully is 1,039.8741 m², and the internal area is 119.3470 m². The calculated volume was 3,282.63 m³. The intervention area for breaking slopes was measured at 8,471.29 m², requiring the construction of 19 terraces in this area, vertically spaced at 2.8 m. The estimated costs for mechanical recovery of the gully were R$ 19,167.84 (US$ 3.657,98).

Keywords: erosion, volumetric assessment, soil degradation, terraces

Procedia PDF Downloads 72