Search results for: demand creation.
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 4621

Search results for: demand creation.

4561 Analysis of Two Methods to Estimation Stochastic Demand in the Vehicle Routing Problem

Authors: Fatemeh Torfi

Abstract:

Estimation of stochastic demand in physical distribution in general and efficient transport routs management in particular is emerging as a crucial factor in urban planning domain. It is particularly important in some municipalities such as Tehran where a sound demand management calls for a realistic analysis of the routing system. The methodology involved critically investigating a fuzzy least-squares linear regression approach (FLLRs) to estimate the stochastic demands in the vehicle routing problem (VRP) bearing in mind the customer's preferences order. A FLLR method is proposed in solving the VRP with stochastic demands. Approximate-distance fuzzy least-squares (ADFL) estimator ADFL estimator is applied to original data taken from a case study. The SSR values of the ADFL estimator and real demand are obtained and then compared to SSR values of the nominal demand and real demand. Empirical results showed that the proposed methods can be viable in solving problems under circumstances of having vague and imprecise performance ratings. The results further proved that application of the ADFL was realistic and efficient estimator to face the stochastic demand challenges in vehicle routing system management and solve relevant problems.

Keywords: fuzzy least-squares, stochastic, location, routing problems

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4560 Demand-Side Financing for Thai Higher Education: A Reform Towards Sustainable Development

Authors: Daral Maesincee, Jompol Thongpaen

Abstract:

Thus far, most of the decisions made within the walls of Thai higher education (HE) institutions have primarily been supply-oriented. With the current supply-driven, itemized HE financing systems, the nation is struggling to systemically produce high-quality manpower that serves the market’s needs, often resulting in education mismatches and unemployment – particularly in science, technology, and innovation (STI)-related fields. With the COVID-19 pandemic challenges widening the education inequality (accessibility and quality) gap, HE becomes even more unobtainable for underprivileged students, permanently leaving some out of the system. Therefore, Thai HE needs a new financing system that produces the “right people” for the “right occupations” through the “right ways,” regardless of their socioeconomic backgrounds, and encourages the creation of non-degree courses to tackle these ongoing challenges. The “Demand-Side Financing for Thai Higher Education” policy aims to do so by offering a new paradigm of HE resource allocation via two main mechanisms: i) standardized formula-based unit-cost subsidizations that is specific to each study field and ii) student loan programs that respond to the “demand signals” from the labor market and the students, that are in line with the country’s priorities. Through in-dept reviews, extensive studies, and consultations with various experts, education committees, and related agencies, i) the method of demand signal analysis is identified, ii) the unit-cost of each student in the sample study fields is approximated, iii) the method of budget analysis is formulated, iv) the interagency workflows are established, and v) a supporting information database is created to suggest the number of graduates each HE institution can potentially produce, the study fields and skillsets that are needed by the labor market, the employers’ satisfaction with the graduates, and each study field’s employment rates. By responding to the needs of all stakeholders, this policy is expected to steer Thai HE toward producing more STI-related manpower in order to uplift Thai people’s quality of life and enhance the nation’s global competitiveness. This policy is currently in the process of being considered by the National Education Transformation Committee and the Higher Education Commission.

Keywords: demand-side financing, higher education resource, human capital, higher education

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4559 Design Exploration on Mixed-Use Development of Island House: Take the Southeast Coastal Area of Chinese as an Example

Authors: Fu Jiayan, Wang Zhu, Sun Jiaojiao

Abstract:

Mixed-use development is one of the most important trends in new island house transformation along southeast coastal area in China. Unique island geographical environment and profound fishing village culture coexist for a long time in this. With artistic creation for the purpose of the "live-work" houses are in a large number of emergence, however, still lack of systematic strategy. Based on space effect from marine resources to regional human settlements, this article teases out the evolution regularity of island settlement context and architectural form, then, puts forward the formation mechanism and construction model of art island houses. Thereby, to further explore space design method and site creation strategy of mixed-use development.

Keywords: mixed-use, island house, art creation, Southeast Coastal Area of Chinese

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4558 Advertising Incentives of National Brands against Private Labels

Authors: Lu Liao

Abstract:

This paper studies the impact of private labels on the advertising incentives of national brands. The worldwide expansion of private labels over the past two decades not only transformed the choice sets of consumers but also forced manufacturers of national brands to design new marketing strategies to maintain their market positions. This paper first develops a consumer demand model that incorporates spillover effects of advertising for antacids, including private labels and finds positive spillovers of national brands’ advertising on demand for private label antacids. With the demand estimates, it provides a simulation for the equilibrium prices and advertising levels for leading national brands in a counterfactual where private labels are eliminated to quantify national brands’ advertising incentives as a response to the rise of private labels.

Keywords: advertising, private label, marketing, demand

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4557 Dynamic Pricing With Demand Response Managment in Smart Grid: Stackelberg Game Approach

Authors: Hasibe Berfu Demi̇r, Şakir Esnaf

Abstract:

In the past decade, extensive improvements have been done in electrical grid infrastructures. It is very important to make plans on supply, demand, transmission, distribution and pricing for the development of the electricity energy sector. Based on this perspective, in this study, Stackelberg game approach is proposed for demand participation management (DRM), which has become an important component in the smart grid to effectively reduce power generation costs and user bills. The purpose of this study is to examine electricity consumption from a dynamic pricing perspective. The results obtained were compared with the current situation and the results were interpreted.

Keywords: lectricity, stackelberg, smart grid, demand response managment, dynamic pricing

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4556 Forecasting Future Demand for Energy Efficient Vehicles: A Review of Methodological Approaches

Authors: Dimitrios I. Tselentis, Simon P. Washington

Abstract:

Considerable literature has been focused over the last few decades on forecasting the consumer demand of Energy Efficient Vehicles (EEVs). These methodological issues range from how to capture recent purchase decisions in revealed choice studies and how to set up experiments in stated preference (SP) studies, and choice of analysis method for analyzing such data. This paper reviews the plethora of published studies on the field of forecasting demand of EEVs since 1980, and provides a review and annotated bibliography of that literature as it pertains to this particular demand forecasting problem. This detailed review addresses the literature not only to Transportation studies, but specifically to the problem and methodologies around forecasting to the time horizons of planning studies which may represent 10 to 20 year forecasts. The objectives of the paper are to identify where existing gaps in literature exist and to articulate where promising methodologies might guide longer term forecasting. One of the key findings of this review is that there are many common techniques used both in the field of new product demand forecasting and the field of predicting future demand for EEV. Apart from SP and RP methods, some of these new techniques that have emerged in the literature in the last few decades are survey related approaches, product diffusion models, time-series modelling, computational intelligence models and other holistic approaches.

Keywords: demand forecasting, Energy Efficient Vehicles (EEVs), forecasting methodologies review, methodological approaches

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4555 Meeting India's Energy Demand: U.S.-India Energy Cooperation under Trump

Authors: Merieleen Engtipi

Abstract:

India's total share of global population is nearly 18%; however, its per capita energy consumption is only one-third of global average. The demand and supply of electricity are uneven in the country; around 240 million of the population have no access to electricity. However, with India's trajectory for modernisation and economic growth, the demand for energy is only expected to increase. India is at a crossroad, on the one hand facing the increasing demand for energy and on the other hand meeting the Paris climate policy commitments, and further the struggle to provide efficient energy. This paper analyses the policies to meet India’s need for energy, as the per capita energy consumption is likely to be double in 6-7 years period. Simultaneously, India's Paris commitment requires curbing of carbon emission from fossil fuels. There is an increasing need for renewables to be cheaply and efficiently available in the market and for clean technology to extract fossil fuels to meet climate policy goals. Fossil fuels are the most significant generator of energy in India; with the Paris agreement, the demand for clean energy technology is increasing. Finally, the U.S. decided to withdraw from the Paris Agreement; however, the two countries plan to continue engaging bilaterally on energy issues. The U.S. energy cooperation under Trump administration is significantly vital for greater energy security, transfer of technology and efficiency in energy supply and demand.

Keywords: energy demand, energy cooperation, fossil fuels, technology transfer

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4554 Feasibility of Iron Scrap Recycling with Considering Demand-Supply Balance

Authors: Reina Kawase, Yuzuru Matsuoka

Abstract:

To mitigate climate change, to reduce CO2 emission from steel sector, energy intensive sector, is essential. One of the effective countermeasure is recycling of iron scrap and shifting to electric arc furnace. This research analyzes the feasibility of iron scrap recycling with considering demand-supply balance and quantifies the effective by CO2 emission reduction. Generally, the quality of steel made from iron scrap is lower than the quality of steel made from basic oxygen furnace. So, the constraint of demand side is goods-wise steel demand and that of supply side is generation of iron scap. Material Stock and Flow Model (MSFM_demand) was developed to estimate goods-wise steel demand and generation of iron scrap and was applied to 35 regions which aggregated countries in the world for 2005-2050. The crude steel production was estimated under two case; BaU case (No countermeasures) and CM case (With countermeasures). For all the estimation periods, crude steel production is greater than generation of iron scrap. This makes it impossible to substitute electric arc furnaces for all the basic oxygen furnaces. Even though 100% recycling rate of iron scrap, under BaU case, CO2 emission in 2050 increases by 12% compared to that in 2005. With same condition, 32% of CO2 emission reduction is achieved in CM case. With a constraint from demand side, the reduction potential is 6% (CM case).

Keywords: iron scrap recycling, CO2 emission reduction, steel demand, MSFM demand

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4553 Mathematical Modeling of District Cooling Systems

Authors: Dana Alghool, Tarek ElMekkawy, Mohamed Haouari, Adel Elomari

Abstract:

District cooling systems have captured the attentions of many researchers recently due to the enormous benefits offered by such system in comparison with traditional cooling technologies. It is considered a major component of urban cities due to the significant reduction of energy consumption. This paper aims to find the optimal design and operation of district cooling systems by developing a mixed integer linear programming model to minimize the annual total system cost and satisfy the end-user cooling demand. The proposed model is experimented with different cooling demand scenarios. The results of the very high cooling demand scenario are only presented in this paper. A sensitivity analysis on different parameters of the model was performed.

Keywords: Annual Cooling Demand, Compression Chiller, Mathematical Modeling, District Cooling Systems, Optimization

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4552 Capitalizing 'Ba' in a Knowledge Creation among Medical Researchers in Malaysian Higher Education Institution

Authors: Connie Edang, Siti Arpah Noordin, Shamila Mohamed Shuhidan

Abstract:

For the past few decades, there are growing numbers of knowledge based industries in Malaysia. As competitive edge has become so important nowadays, the consideration of research and development (R&D) should be put at the highest priority. Alike other industries, HEIs are also contributors to the nation’s development and wealth. Hence, to become a hub for creating a knowledge-based society, HEIs not only responsible for producing skillful human capital, but also to get involved in R&D. With the importance of R&D in today’s modern economy and the rise of Science and Technology, it gives opportunities for researchers to explore this sector as to place Malaysia as a provider in some key strategic industries, including medical and health sciences field. Academic researchers/medical researchers possess unique tacit and skills based in accordance with their experience and professional expert areas. In completing a collaborative research work, there must be platforms to enable the conversion of their knowledge hence beneficial towards creation of new knowledge. The objectives of this study are to: i) explore the knowledge creation activities of medical researchers in the Malaysian Higher Education Institution (HEI); ii) explore the driving forces for knowledge creation activities among the researchers; and iii) explore the interpretation of medical researchers on the establishment of ‘ba’ in the creation of knowledge. Based on the SECI model was introduced by Nonaka and Takeuchi and the Japanese concept of ‘ba’, a qualitative study whereby semi structured interview was used as to gather the informants’ viewpoints and insights based on their experience capitalizing ‘ba’ to support their knowledge creation activities. A single the study was conducted at one of the HEIs located in Sabah. From this study, both face to face and the ICT-assisted tools are found to be significant to support interaction of their knowledge. ICT seems to ease their interaction with other research collaborator. However, this study revealed that interaction conducted in physical settings is still be best preferred by the medical researchers especially situations of whereby their knowledge is hard to be externalized. Moreover, it revealed that motivational factors play important roles as for driving forces affecting their knowledge creation activities. Other than that, the medical researchers addressed that the mix interaction bring forth value in terms of facilitating knowledge creation. Therefore this study would benefit the institution to highly optimize the utilization of good platform so that knowledge can be transferred and be made used by others in appropriate ways.

Keywords: ‘ba’, knowledge creation dynamics, Malaysia, higher education institution, medical researchers

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4551 Improving Forecasting Demand for Maintenance Spare Parts: Case Study

Authors: Abdulaziz Afandi

Abstract:

Minimizing the inventory cost, optimizing the inventory quantities, and increasing system operational availability are the main motivations to enhance forecasting demand of spare parts in a major power utility company in Medina. This paper reports in an effort made to optimize the orders quantities of spare parts by improving the method of forecasting the demand. The study focuses on equipment that has frequent spare parts purchase orders with uncertain demand. The pattern of the demand considers a lumpy pattern which makes conventional forecasting methods less effective. A comparison was made by benchmarking various methods of forecasting based on experts’ criteria to select the most suitable method for the case study. Three actual data sets were used to make the forecast in this case study. Two neural networks (NN) approaches were utilized and compared, namely long short-term memory (LSTM) and multilayer perceptron (MLP). The results as expected, showed that the NN models gave better results than traditional forecasting method (judgmental method). In addition, the LSTM model had a higher predictive accuracy than the MLP model.

Keywords: neural network, LSTM, MLP, forecasting demand, inventory management

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4550 Digital Value Co-Creation: The Case of Worthy a Virtual Collaborative Museum across Europe

Authors: Camilla Marini, Deborah Agostino

Abstract:

Cultural institutions provide more than service-based offers; indeed, they are experience-based contexts. A cultural experience is a special event that encompasses a wide range of values which, for visitors, are primarily cultural rather than economic and financial. Cultural institutions have always been characterized by inclusivity and participatory practices, but the upcoming of digital technologies has put forward their interest in collaborative practices and the relationship with their audience. Indeed, digital technologies highly affected the cultural experience as it was conceived. Especially, museums, as traditional and authoritative cultural institutions, have been highly challenged by digital technologies. They shifted by a collection-oriented toward a visitor-centered approach, and digital technologies generated a highly interactive ecosystem in which visitors have an active role, shaping their own cultural experience. Most of the studies that investigate value co-creation in museums adopt a single perspective which is separately one of the museums or one of the users, but the analysis of the convergence/divergence of these perspectives is still emphasized. Additionally, many contributions focus on digital value co-creation as an outcome rather than as a process. The study aims to provide a joint perspective on digital value co-creation which include both museum and visitors. Also, it deepens the contribution of digital technologies in the value co-creation process, addressing the following research questions: (i) what are the convergence/divergence drivers on digital value co-creation and (ii) how digital technologies can be means of value co-creation? The study adopts an action research methodology that is based on the case of WORTHY, an educational project which involves cultural institutions and schools all around Europe, creating a virtual collaborative museum. It represents a valuable case for the aim of the study since it has digital technologies at its core, and the interaction through digital technologies is fundamental, all along with the experience. Action research has been identified as the most appropriate methodology for researchers to have direct contact with the field. Data have been collected through primary and secondary sources. Cultural mediators such as museums, teachers and students’ families have been interviewed, while a focus group has been designed to interact with students, investigating all the aspects of the cultural experience. Secondary sources encompassed project reports and website contents in order to deepen the perspective of cultural institutions. Preliminary findings highlight the dimensions of digital value co-creation in cultural institutions from a museum-visitor integrated perspective and the contribution of digital technologies in the value co-creation process. The study outlines a two-folded contribution that encompasses both an academic and a practitioner level. Indeed, it contributes to fulfilling the gap in cultural management literature about the convergence/divergence of service provider-user perspectives but it also provides cultural professionals with guidelines on how to evaluate the digital value co-creation process.

Keywords: co-creation, digital technologies, museum, value

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4549 Cross-Cultural Collaboration Shaping Co-Creation Methodology to Enhance Disaster Risk Management Approaches

Authors: Jeannette Anniés, Panagiotis Michalis, Chrysoula Papathanasiou, Selby Knudsen

Abstract:

RiskPACC project aims to bring together researchers, practitioners, and first responders from nine European countries following a co-creation approach aiming to develop customised solutions to meet the needs of end-users. The co-creation workshops target to enhance the communication pathways between local civil protection authorities (CPAs) and citizens, in an effort to close the risk perception-action gap (RPAG). The participants in the workshops include a variety of stakeholders, as well as citizens, fostering the dialogue between the groups and supporting citizen participation in disaster risk management (DRM). The co-creation methodology in place implements co-design elements due to the integration of four ICT tools. Such ICT tools include web-based and mobile application technical solutions in different development stages, ranging from formulation and validation of concepts to pilot demonstrations. In total, seven different case studies are foreseen in RiskPACC. The workflow of the workshops is designed to be adaptive to every of the seven case study countries and their cultures’ particular needs. This work aims to provide an overview of the the preparation and the conduction of the workshops in which researchers and practitioners focused on mapping these different needs from the end users. The latter included first responders but also volunteers and citizens who actively participated in the co-creation workshops. The strategies to improve communication between CPAs and citizens themselves differ in the countries, and the modules of the co-creation methodology are adapted in response to such differences. Moreover, the project partners experienced how the structure of such workshops is perceived differently in the seven case studies. Therefore, the co-creation methodology itself is a design method underlying several iterations, which are eventually shaped by cross-cultural collaboration. For example, some case studies applied other modules according to the participatory group recruited. The participants were technical experts, teachers, citizens, first responders, or volunteers, among others. This work aspires to present the divergent approaches of the seven case studies implementing the co-creation methodology proposed, in response to different perceptions of the modules. An analysis of the adaptations and implications will also be provided to assess where the case studies’ objective of improving disaster resilience has been obtained.

Keywords: citizen participation, co-creation, disaster resilience, risk perception, ICT tools

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4548 Energy Planning Analysis of an Agritourism Complex Based on Energy Demand Simulation: A Case Study of Wuxi Yangshan Agritourism Complex

Authors: Li Zhu, Binghua Wang, Yong Sun

Abstract:

China is experiencing the rural development process, with the agritourism complex becoming one of the significant modes. Therefore, it is imperative to understand the energy performance of agritourism complex. This study focuses on a typical case of the agritourism complex and simulates the energy consumption performance on condition of the regular energy system. It was found that HVAC took 90% of the whole energy demand range. In order to optimize the energy supply structure, the hierarchical analysis was carried out on the level of architecture with three main factors such as construction situation, building types and energy demand types. Finally, the energy planning suggestion of the agritourism complex was put forward and the relevant results were obtained.

Keywords: agritourism complex, energy planning, energy demand simulation, hierarchical structure model

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4547 Small Businesses as Vehicles for Job Creation in North-West Nigeria

Authors: Mustapha Shitu Suleiman, Francis Neshamba, Nestor Valero-Silva

Abstract:

Small businesses are considered as engine of economic growth, contributing to employment generation, wealth creation, and poverty alleviation and food security in both developed and developing countries. Nigeria is facing many socio-economic problems and it is believed that by supporting small business development, as propellers of new ideas and more effective users of resources, often driven by individual creativity and innovation, Nigeria would be able to address some of its economic and social challenges, such as unemployment and economic diversification. Using secondary literature, this paper examines the role small businesses can play in the creation of jobs in North-West Nigeria to overcome issues of unemployment, which is the most devastating economic challenge facing the region. Most studies in this area have focused on Nigeria as a whole and only a few studies provide a regional focus, hence, this study will contribute to knowledge by filling this gap by concentrating on North-West Nigeria. It is hoped that with the present administration’s determination to improve the economy, small businesses would be used as vehicles for diversification of the economy away from crude oil to create jobs that would lead to a reduction in the country’s high unemployment level.

Keywords: job creation, north-west, Nigeria, small business, unemployment

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4546 Analyzing the Relationship between the Spatial Characteristics of Cultural Structure, Activities, and the Tourism Demand

Authors: Deniz Karagöz

Abstract:

This study is attempt to comprehend the relationship between the spatial characteristics of cultural structure, activities and the tourism demand in Turkey. The analysis divided into four parts. The first part consisted of a cultural structure and cultural activity (CSCA) index provided by principal component analysis. The analysis determined four distinct dimensions, namely, cultural activity/structure, accessing culture, consumption, and cultural management. The exploratory spatial data analysis employed to determine the spatial models of cultural structure and cultural activities in 81 provinces in Turkey. Global Moran I indices is used to ascertain the cultural activities and the structural clusters. Finally, the relationship between the cultural activities/cultural structure and tourism demand was analyzed. The raw/original data of the study official databases. The data on the cultural structure and activities gathered from the Turkish Statistical Institute and the data related to the tourism demand was provided by the Republic of Turkey Ministry of Culture and Tourism.

Keywords: cultural activities, cultural structure, spatial characteristics, tourism demand, Turkey

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4545 Investigating the Demand of Short-Shelf Life Food Products for SME Wholesalers

Authors: Yamini Raju, Parminder S. Kang, Adam Moroz, Ross Clement, Alistair Duffy, Ashley Hopwell

Abstract:

Accurate prediction of fresh produce demand is one the challenges faced by Small Medium Enterprise (SME) wholesalers. Current research in this area focused on limited number of factors specific to a single product or a business type. This paper gives an overview of the current literature on the variability factors used to predict demand and the existing forecasting techniques of short shelf life products. It then extends it by adding new factors and investigating if there is a time lag and possibility of noise in the orders. It also identifies the most important factors using correlation and Principal Component Analysis (PCA).

Keywords: demand forecasting, deteriorating products, food wholesalers, principal component analysis, variability factors

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4544 Air Access Liberalisation and Tourism Trade Evidence from a Sids

Authors: Seetanah Boopen, R. V. Sannassee

Abstract:

The objective of the present study is two-fold. Firstly, to assess the impact of air access liberalization on tourism demand for Mauritius and secondly to analyses the dual impact of the interplay between air access liberalization and marketing promotion efforts on tourism demand. Using an Autoregressive Distributed Lag model, the results suggest that air access liberalization is an important ingredient, albeit to a lesser extent as compared to other classical explanatory variables, of tourism demand. The results also highlight the fact that Mauritius is perceived as a luxurious destination and tourists are deemed price sensitive. Moreover, our dynamic approach interestingly confirms the presence of repeat tourism in the island. Finally, the findings also uncover the positive impact of the interplay between air access liberalization and marketing promotion efforts on fostering tourism demand.

Keywords: air access liberalization, ARDL, SIDS, time series

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4543 Load Forecast of the Peak Demand Based on Both the Peak Demand and Its Location

Authors: Qais H. Alsafasfeh

Abstract:

The aim of this paper is to provide a forecast of the peak demand for the next 15 years for electrical distribution companies. The proposed methodology provides both the peak demand and its location for the next 15 years. This paper describes the Spatial Load Forecasting model used, the information provided by electrical distribution company in Jordan, the workflow followed, the parameters used and the assumptions made to run the model. The aim of this paper is to provide a forecast of the peak demand for the next 15 years for electrical distribution companies. The proposed methodology provides both the peak demand and its location for the next 15 years. This paper describes the Spatial Load Forecasting model used, the information provided by electrical distribution company in Jordan, the workflow followed, the parameters used and the assumptions made to run the model.

Keywords: load forecast, peak demand, spatial load, electrical distribution

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4542 Bank Liquidity Creation in a Dual Banking System: An Empirical Investigation

Authors: Lianne M. Q. Lee, Mohammed Sharaf Shaiban

Abstract:

The importance of bank liquidity management took center stage as policy makers promoted a more resilient global banking system after the market turmoil of 2007. The growing recognition of Islamic banks’ function of intermediating funds in the economy warrants the need to investigate its balance sheet structure which is distinct from its conventional counterparts. Given that asymmetric risk, transformation is inevitable; Islamic banks need to identify the liquidity risk within their distinctive balance sheet structure. Thus, there is a strong need to quantify and assess the liquidity position to ensure proper functioning of a financial institution. It is vital to measure bank liquidity because liquid banks face less liquidity risk. We examine this issue by using two alternative quantitative measures of liquidity creation “cat fat” and “cat nonfat” constructed by Berger and Bouwman (2009). “Cat fat” measures all on balance sheet items including off balance sheet, whilst the latter measures only on balance sheet items. Liquidity creation is measured over the period 2007-2014 in 14 countries where Islamic and conventional commercial banks coexist. Also, separately by bank size class as empirical studies have shown that liquidity creation varies by bank size. An interesting and important finding shows that all size class of Islamic banks, on average have increased creation of aggregate liquidity in real dollar terms over the years for both liquidity creation measures especially for large banks indicating that Islamic banks actually generates more liquidity to the economy compared to its conventional counterparts, including from off-balance sheet items. The liquidity creation for off-balance sheets by conventional banks may have been affected by the global financial crisis when derivatives markets were severely hit. The results also suggest that Islamic banks have the higher volume of assets and deposits and that borrowing/issues of bonds are less in Islamic banks compared to conventional banks because most products are interest-based. As Islamic banks appear to create more liquidity than conventional banks under both measures, it translates that the development of Islamic banking is significant over the decades since its inception. This finding is encouraging as, despite Islamic banking’s overall size, it represents growth opportunities for these countries.

Keywords: financial institution, liquidity creation, liquidity risk, policy and regulation

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4541 Inventory Decisions for Perishable Products with Age and Stock Dependent Demand Rate

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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4540 Urban Energy Demand Modelling: Spatial Analysis Approach

Authors: Hung-Chu Chen, Han Qi, Bauke de Vries

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Energy consumption in the urban environment has attracted numerous researches in recent decades. However, it is comparatively rare to find literary works which investigated 3D spatial analysis of urban energy demand modelling. In order to analyze the spatial correlation between urban morphology and energy demand comprehensively, this paper investigates their relation by using the spatial regression tool. In addition, the spatial regression tool which is applied in this paper is ordinary least squares regression (OLS) and geographically weighted regression (GWR) model. Normalized Difference Built-up Index (NDBI), Normalized Difference Vegetation Index (NDVI), and building volume are explainers of urban morphology, which act as independent variables of Energy-land use (E-L) model. NDBI and NDVI are used as the index to describe five types of land use: urban area (U), open space (O), artificial green area (G), natural green area (V), and water body (W). Accordingly, annual electricity, gas demand and energy demand are dependent variables of the E-L model. Based on the analytical result of E-L model relation, it revealed that energy demand and urban morphology are closely connected and the possible causes and practical use are discussed. Besides, the spatial analysis methods of OLS and GWR are compared.

Keywords: energy demand model, geographically weighted regression, normalized difference built-up index, normalized difference vegetation index, spatial statistics

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4539 One Nature under God, and Divisible: Augustine’s “Duality of Man” Applied to the Creation Stories of Genesis

Authors: Elizabeth Latham

Abstract:

The notion that women were created as innately inferior to men has yet to be expelled completely from the theological system of humankind. This question and the biblical exegesis it requires are of paramount importance to feminist philosophy—after all, the study can bear little fruit if we cannot even agree on equality within the theological roots of humanity. Augustine’s “Duality of Man” gives new context to the two creation stories in Genesis, texts especially relevant given the billions of people worldwide that ascribe to them as philosophical realities. Each creation story describes the origin of human beings and is matched with one of Augustine’s two orders of mankind. The first story describes the absolute origin of the human soul and is paired with Augustine’s notion of the “spiritual order” of a human being: divine and eternal, fulfilling the biblical idea that human beings were created in the image and likeness of God. The second creation story, in contrast, depicts those aspects of humanity that distinguish and separate us from God: doubt, fear, and sin. It also introduces gender as a concept for the first time in the Bible. This story is better matched with Augustine’s idea of the “natural order” of humanity, that by which he believes women, in fact, are inferior. In the synthesis of the two sources, one can see that the natural order and any inferiority that it implies are incidental and not intended in our creation. Gender inequality is introduced with and belongs in the category of human imperfection and to cite the Bible as encouraging it constitutes a gross misunderstanding of scripture. This is easy to see when we divide human nature into “spiritual” and “natural” and look carefully at where scripture falls.

Keywords: augustine, bible, duality of man, feminism, genesis

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4538 The Determinants of Co-Production for Value Co-Creation: Quadratic Effects

Authors: Li-Wei Wu, Chung-Yu Wang

Abstract:

Recently, interest has been generated in the search for a new reference framework for value creation that is centered on the co-creation process. Co-creation implies cooperative value creation between service firms and customers and requires the building of experiences as well as the resolution of problems through the combined effort of the parties in the relationship. For customers, values are always co-created through their participation in services. Customers can ultimately determine the value of the service in use. This new approach emphasizes that a customer’s participation in the service process is considered indispensable to value co-creation. An important feature of service in the context of exchange is co-production, which implies that a certain amount of participation is needed from customers to co-produce a service and hence co-create value. Co-production no doubt helps customers better understand and take charge of their own roles in the service process. Thus, this proposal is to encourage co-production, thus facilitating value co-creation of that is reflected in both customers and service firms. Four determinants of co-production are identified in this study, namely, commitment, trust, asset specificity, and decision-making uncertainty. Commitment is an essential dimension that directly results in successful cooperative behaviors. Trust helps establish a relational environment that is fundamental to cross-border cooperation. Asset specificity motivates co-production because this determinant may enhance return on asset investment. Decision-making uncertainty prompts customers to collaborate with service firms in making decisions. In other words, customers adjust their roles and are increasingly engaged in co-production when commitment, trust, asset specificity, and decision-making uncertainty are enhanced. Although studies have examined the preceding effects, to our best knowledge, none has empirically examined the simultaneous effects of all the curvilinear relationships in a single study. When these determinants are excessive, however, customers will not engage in co-production process. In brief, we suggest that the relationships of commitment, trust, asset specificity, and decision-making uncertainty with co-production are curvilinear or are inverse U-shaped. These new forms of curvilinear relationships have not been identified in existing literature on co-production; therefore, they complement extant linear approaches. Most importantly, we aim to consider both the bright and the dark sides of the determinants of co-production.

Keywords: co-production, commitment, trust, asset specificity, decision-making uncertainty

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4537 The Utilization of Big Data in Knowledge Management Creation

Authors: Daniel Brian Thompson, Subarmaniam Kannan

Abstract:

The huge weightage of knowledge in this world and within the repository of organizations has already reached immense capacity and is constantly increasing as time goes by. To accommodate these constraints, Big Data implementation and algorithms are utilized to obtain new or enhanced knowledge for decision-making. With the transition from data to knowledge provides the transformational changes which will provide tangible benefits to the individual implementing these practices. Today, various organization would derive knowledge from observations and intuitions where this information or data will be translated into best practices for knowledge acquisition, generation and sharing. Through the widespread usage of Big Data, the main intention is to provide information that has been cleaned and analyzed to nurture tangible insights for an organization to apply to their knowledge-creation practices based on facts and figures. The translation of data into knowledge will generate value for an organization to make decisive decisions to proceed with the transition of best practices. Without a strong foundation of knowledge and Big Data, businesses are not able to grow and be enhanced within the competitive environment.

Keywords: big data, knowledge management, data driven, knowledge creation

Procedia PDF Downloads 79
4536 Uplifting Citizens Participation: A Gov 2.0 Framework

Authors: Mohammed Aladalah

Abstract:

The emergence of digital citizens is no longer mere speculation; therefore, governments’ use of Web 2.0 tools (hereafter Gov 2.0) should be a part of all current and future e-government plans. The potential of Gov 2.0 to facilitate greater communication, participation, and collaboration with citizens has been highlighted and discussed extensively in recent literature. However, the current levels of citizens’ participation in Gov 2.0 have not lived up to the hype. Therefore, governments need to rethink the way in which they implement Gov 2.0, and take advantage of the digitally-engaged population. We propose a two-dimensional framework to tackle this issue: first, on the supply side, governments tend to use Gov 2.0 mainly for the dissemination of information and for self-promotion without the desire to encourage any interaction with citizens; this is due to many reasons, including the lack of time and the possibility of loss of control. The second dimension of the framework is the demand side; citizens are unwilling to participate in Gov 2.0 activities because they do not perceive its value or trust the government. We attempt to consider the elements of both supply and demand in order to provide a comprehensive solution whereby the potential of Gov 2.0 can be fully utilized. Our framework is based on the theoretical foundation of service science and value co-creation theory. This paper makes two significant contributions: (a) it provides an initial framework intended to increase citizens’ participation in Gov 2.0; and (b) it enhances the understanding of the government’s Gov 2.0 applications, particularly in terms of factors that ensure their attractiveness for citizens. This work is the first step in a comprehensive research undertaking, the purpose of which is to study public’s engagement with the Gov 2.0 concept. It contributes to providing a better understanding of e-government and its future.

Keywords: e-government, Gov 2.0, citizens participation, digital citizen

Procedia PDF Downloads 309
4535 Knowledge Creation and Diffusion Dynamics under Stable and Turbulent Environment for Organizational Performance Optimization

Authors: Jessica Gu, Yu Chen

Abstract:

Knowledge Management (KM) is undoubtable crucial to organizational value creation, learning, and adaptation. Although the rapidly growing KM domain has been fueled with full-fledged methodologies and technologies, studies on KM evolution that bridge the organizational performance and adaptation to the organizational environment are still rarely attempted. In particular, creation (or generation) and diffusion (or share/exchange) of knowledge are of the organizational primary concerns on the problem-solving perspective, however, the optimized distribution of knowledge creation and diffusion endeavors are still unknown to knowledge workers. This research proposed an agent-based model of knowledge creation and diffusion in an organization, aiming at elucidating how the intertwining knowledge flows at microscopic level lead to optimized organizational performance at macroscopic level through evolution, and exploring what exogenous interventions by the policy maker and endogenous adjustments of the knowledge workers can better cope with different environmental conditions. With the developed model, a series of simulation experiments are conducted. Both long-term steady-state and time-dependent developmental results on organizational performance, network and structure, social interaction and learning among individuals, knowledge audit and stocktaking, and the likelihood of choosing knowledge creation and diffusion by the knowledge workers are obtained. One of the interesting findings reveals a non-monotonic phenomenon on organizational performance under turbulent environment while a monotonic phenomenon on organizational performance under a stable environment. Hence, whether the environmental condition is turbulence or stable, the most suitable exogenous KM policy and endogenous knowledge creation and diffusion choice adjustments can be identified for achieving the optimized organizational performance. Additional influential variables are further discussed and future work directions are finally elaborated. The proposed agent-based model generates evidence on how knowledge worker strategically allocates efforts on knowledge creation and diffusion, how the bottom-up interactions among individuals lead to emerged structure and optimized performance, and how environmental conditions bring in challenges to the organization system. Meanwhile, it serves as a roadmap and offers great macro and long-term insights to policy makers without interrupting the real organizational operation, sacrificing huge overhead cost, or introducing undesired panic to employees.

Keywords: knowledge creation, knowledge diffusion, agent-based modeling, organizational performance, decision making evolution

Procedia PDF Downloads 214
4534 Virtual Co-Creation Model in Hijab Fashion Industry: Business Model Approach

Authors: Lisandy A. Suryana, Lidia Mayangsari, Santi Novani

Abstract:

Creative industry in Indonesia become an important aspect of the economy. One of the sectors of creative industry which give the highest contribution toward Indonesia’s GDP is fashion sector. In line with the target of Indonesia in 2020 to be the qibla’ of moeslem fashion of the world, all of the stakeholders of the business ecosystem should collaborate. Rather than focus on the internal aspects of producer, external aspects such as customers, government, community, etc. become important to be involved in the ecosystem to support the development and sustainability of those fashion sector. Unfortunately, although Indonesia has the biggest moeslem population, the number of hijab business penetration only 10%. Therefore, this research aims to analyze and develop the virtual co-creation platform for hijab creative industry as the strategy to achieve sustainability and increase the market share. This preliminary research describes the main stakeholders in the hijab creative industry based on business model approach. This business model is adapted by considering the service science context, and the data is collected by using the qualitative approach especially in-depth interview. This business model shows the relationship between resource integration, value co-creation, the value proposition of the company, and also the financial aspect of the business.

Keywords: value co-creation, Hijab Fashion Industry, creative industry, service business model, business model canvas

Procedia PDF Downloads 352
4533 Demand Forecasting Using Artificial Neural Networks Optimized by Particle Swarm Optimization

Authors: Daham Owaid Matrood, Naqaa Hussein Raheem

Abstract:

Evolutionary algorithms and Artificial neural networks (ANN) are two relatively young research areas that were subject to a steadily growing interest during the past years. This paper examines the use of Particle Swarm Optimization (PSO) to train a multi-layer feed forward neural network for demand forecasting. We use in this paper weekly demand data for packed cement and towels, which have been outfitted by the Northern General Company for Cement and General Company of prepared clothes respectively. The results showed superiority of trained neural networks using particle swarm optimization on neural networks trained using error back propagation because their ability to escape from local optima.

Keywords: artificial neural network, demand forecasting, particle swarm optimization, weight optimization

Procedia PDF Downloads 412
4532 The Influence of Market Attractiveness and Core Competence on Value Creation Strategy and Competitive Advantage and Its Implication on Business Performance

Authors: Firsan Nova

Abstract:

The average Indonesian watches 5.5 hours of TV a day. With a population of 242 million people and a Free-to-Air (FTA) TV penetration rate of 56%, that equates to 745 million hours of television watched each day. With such potential, it is no wonder that many companies are now attempting to get into the Pay TV market. Research firm Media Partner Asia has forecast in its study that the number of Indonesian pay-television subscribers will climb from 2.4 million in 2012 to 8.7 million by 2020, with penetration scaling up from 7 percent to 21 percent. Key drivers of market growth, the study says, include macro trends built around higher disposable income and a rising middle class, with leading players continuing to invest significantly in sales, distribution and content. New entrants, in the meantime, will boost overall prospects. This study aims to examine and analyze the effect of Market Attractiveness and the Core Competence on Value Creation and Competitive Advantage and its impact to Business Performance in the pay TV industry in Indonesia. The study using strategic management science approach with the census method in which all members of the population are as sample. Verification method is used to examine the relationship between variables. The unit of analysis in this research is all Indonesian Pay TV business units totaling 19 business units. The unit of observation is the director and managers of each business unit. Hypothesis testing is performed by using statistical Partial Least Square (PLS). The conclusion of the study shows that the market attractiveness affects business performance through value creation and competitive advantage. The appropriate value creation comes from the company ability to optimize its core competence and exploit market attractiveness. Value creation affects competitive advantage. The competitive advantage can be determined based on the company's ability to create value for customers and the competitive advantage has an impact on business performance.

Keywords: market attractiveness, core competence, value creation, competitive advantage, business performance

Procedia PDF Downloads 321