Search results for: demand creation.

Authors: Migael van Zyl, Stefanie Visser, Awelani Phaswana

Abstract:

The electricity landscape in South Africa is characterized by frequent occurrences of loadshedding, a measure implemented by Eskom to manage electricity generation shortages by curtailing demand. Loadshedding, classified into stages ranging from 1 to 8 based on severity, involves the systematic rotation of power cuts across municipalities according to predefined schedules. However, this practice introduces distortions in recorded electricity demand, posing challenges to accurate forecasting essential for budgeting, network planning, and generation scheduling. Addressing this challenge requires the development of a methodology to quantify the impact of loadshedding and integrate it back into metered electricity demand data. Fortunately, comprehensive records of loadshedding impacts are maintained in a database, enabling the alignment of Loadshedding effects with hourly demand data. This adjustment ensures that forecasts accurately reflect true demand patterns, independent of loadshedding's influence, thereby enhancing the reliability of electricity supply management in South Africa. This paper presents a methodology for determining the hourly impact of load scheduling and subsequently adjusting historical demand data to account for it. Furthermore, two forecasting models are developed: one utilizing the original dataset and the other using the adjusted data. A comparative analysis is conducted to evaluate forecast accuracy improvements resulting from the adjustment process. By implementing this methodology, stakeholders can make more informed decisions regarding electricity infrastructure investments, resource allocation, and operational planning, contributing to the overall stability and efficiency of South Africa's electricity supply system.

Keywords: electricity demand forecasting, load shedding, demand side management, data science

Procedia PDF Downloads 27

Authors: T. Yuri, M. Zagloel, Inaki M. Hakim, Tegu Bintang Nugraha

Abstract:

In an era of customer centricity, automotive parts manufacturer in Indonesia must be able to keep up with the uncertainty and fluctuation of consumer demand. Flexible Manufacturing System (FMS) is a strategy to react to predicted and unpredicted changes of demand in automotive industry. This research is about flexible mixed model assembly line design through Value Stream Mapping (VSM) and Line Balancing in mixed model assembly line prior to simulation. It uses value stream mapping to identify and reduce waste while finding the best position to add or reduce manpower. Line balancing is conducted to minimize or maximize production rate while increasing assembly line productivity and efficiency. Results of this research is a recommendation of standard work combination for specifics demand scenario which can enhance assembly line efficiency and productivity.

Keywords: automotive industry, demand uncertainty, flexible assembly system, line balancing, value stream mapping

Procedia PDF Downloads 304

Authors: Rob Waddle

Abstract:

We study an economy with weak justice and security systems and with weak public policy and regulation or little capacity to implement them, and with high barriers to profitable sectors. We look at growth and development opportunities based on the derived demand. We show that there is hope for such an economy to grow up and to generate a win-win situation for all stakeholders if the derived demand is supplied. We then investigate conditions that could stimulate the derived demand supply. We show that little knowledge of public, private and international expenditures in the economy and academic tools are enough to trigger the derived demand supply. Our model can serve as guidance to donor and NGO working in developing countries, and show to media the best way to help is to share information about existing and accessible opportunities. It can also provide direction to vocational schools and universities that could focus more on providing tools to seize existing opportunities.

Keywords: growth, development, monopoly, oligopoly, inequality

Procedia PDF Downloads 311

Authors: Ashenafi Sileshi Etefa, Bezawit Worku Yenealem

Abstract:

Micro-insurance is a relatively new concept that is just being introduced in Ethiopia. For an agrarian economy dominated by small holder farming and vulnerable to natural disasters, mainly drought, the need for an Index-Based Micro Insurance (IBMI) is crucial. Since IBMI solves moral hazard, adverse selection, and access issues to poor clients, it is preferable over traditional insurance products. IBMI is being piloted in drought prone areas of Ethiopia with the aim of learning and expanding the service across the country. This article analyses the demand of IBMI and the barriers to demand and finds that the demand for IBMI has so far been constrained by lack of awareness, trust issues, costliness, and the level of basis risk; and recommends reducing the basis risk and increasing the role of government and farmer cooperatives.

Keywords: agriculture, index based micro-insurance (IBMI), drought, micro-finance institution (MFI)

Procedia PDF Downloads 262

Authors: Josip Visković, Ana Rimac Smiljanić, Ines Ivić

Abstract:

Housing loans play an important role in CEE countries’ economies. This fact is based on their share in total loans to households and their importance for economic activity and growth in CEE countries. Therefore, it is important to find out key determinants of housing loans demand in these countries. The aim of this study is to research and analyze the determinants of the demand for housing loans in Croatia. In this regard, the effect of economic activity, loan terms and real estate prices were analyzed. Also, the aim of this study is to find out what motivates people to take housing loans. Therefore, primarily empirical study was conducted among the Croatian residents. The results show that demand for housing loans is positively affected by economic growth, higher personal income and flexible loan terms, while it is negatively affected by interest rate rise.

Keywords: CEE countries, Croatia, demand determinants, housing loans

Procedia PDF Downloads 327

Authors: Birgit A. A. Solem, Kristin Bentsen

Abstract:

Scholarly attention in entrepreneurship is currently directed towards understanding entrepreneurial venture creation as a process -the journey of new economic activities from nonexistence to existence often studied through flow- or network models. To complement existing research on entrepreneurial venture creation with more interactivity-based research of organized activities, this study examines two pop-up stores as anchor events involving on-site activities of fifteen participating entrepreneurs launching their new ventures. The pop-up stores were arranged in two middle-sized Norwegian cities and contained different brand stores that brought together actors of sub-networks and communities executing venture creation activities. The pop-up stores became on-site arenas for the entrepreneurs to create, maintain, and rejuvenate their networks, at the same time as becoming venues for temporal coordination of activities involving existing and potential customers in their venture creation. In this work, we apply a conceptual framework based on frequently addressed dilemmas within entrepreneurship theory (discovery/creation, causation/effectuation) to further shed light on the broad aspect of on-site anchor event activities and their venture creation outcomes. The dilemma-based concepts are applied as an analytic toolkit to pursue answers regarding the nature of anchor event activities typically found within entrepreneurial venture creation and how these anchor event activities affect entrepreneurial venture creation outcomes. Our study combines researcher participation with 200 hours of observation and twenty in-depth interviews. Data analysis followed established guidelines for hermeneutic analysis and was intimately intertwined with ongoing data collection. Data was coded and categorized in NVivo 12 software, and iterated several times as patterns were steadily developing. Our findings suggest that core anchor event activities typically found within entrepreneurial venture creation are; a concept- and product experimentation with visitors, arrangements to socialize (evening specials, auctions, and exhibitions), store-in-store concepts, arranged meeting places for peers and close connection with municipality and property owners. Further, this work points to four main entrepreneurial venture creation outcomes derived from the core anchor event activities; (1) venture attention, (2) venture idea-realization, (3) venture collaboration, and (4) venture extension. Our findings show that, depending on which anchor event activities are applied, the outcomes vary. Theoretically, this study offers two main implications. First, anchor event activities are both discovered and created, following the logic of causation, at the same time as being experimental, based on “learning by doing” principles of effectuation during the execution. Second, our research enriches prior studies on venture creation as a process. In this work, entrepreneurial venture creation activities and outcomes are understood through pop-up stores as on-site anchor event arenas, particularly suitable for interactivity-based research requested by the entrepreneurship field. This study also reveals important managerial implications, such as that entrepreneurs should allow themselves to find creative physical venture creation arenas (e.g., pop-up stores, showrooms), as well as collaborate with partners when discovering and creating concepts and activities based on new ideas. In this way, they allow themselves to both strategically plan for- and continually experiment with their venture.

Keywords: anchor event, interactivity-based research, pop-up store, entrepreneurial venture creation

Procedia PDF Downloads 58

Authors: B. A. Adeniyi, S. A. Daud, O. Amao

Abstract:

The study investigates consumer demand for meat products in Oyo West Local Government using linear approximate almost ideal demand system (LA/AIDS). Questions that were addressed by the study include: first, what is the type and quantity of meat products available to the household and their demand pattern? Second is the investigation of the factors that affect meat products demand pattern and proportion of income that is spent on them. For the above purpose cross-sectional data were collected from 156 households of the study area and analyzed to reveal the functional relationship between meat products consumption and some socio-economic variables of the household. Results indicated that per capita meat consumption increased as household income and education increased but decreased with age. It was also found that male tend to consume more meat products than their female counterparts and that increase in household size will first increased per caput meat consumption but later decreased it. Price also tends to greatly influence the demand pattern of meat products. The results of elasticity computed from the results of regression analysis revealed that own price elasticity for all meat products were negative which indicated that they were normal products while cross and expenditure elasticity were positive which further confirmed that meat products were normal and substitute products. This study therefore concludes that the relevance of these variables imposed a great challenge to the policy makers and the government, in the sense that more cost effective methods of meat production technology have to be devised in other to make consumption of meat products more affordable.

Keywords: meat products, consumption, animal production, technology

Procedia PDF Downloads 218

Authors: Perizat Balkhimbekova

Abstract:

Evolutionary changes in cognitive world view taking place in the last decades are followed by changes in perception of the key concepts which are related to the certain lingua-cultural sphere. Also, such concepts reflect the person’s attitude to essential processes in the sphere of concepts, e.g. the opposite operations like creation and destruction. These changes in people’s life and thinking are displayed in a language world view. In order to open the maintenance of mental structures and concepts we should use language means as observable results of people’s cognitive activity. Semantics of words, free phrases and idioms should be considered as an authoritative source of information concerning concepts. The regularized set of concepts in people consciousness forms the sphere of concepts. Cognitive linguistics widely discusses the sphere of concepts as its crucial category defining it as the field of knowledge which is made of concepts. It is considered that a sphere of concepts comprises the various types of association and forms conceptual fields. As a material for the given research, the data from Russian National Corpus and British National Corpus were used. In is necessary to point out that data provided by computational studies, are intrinsic and verifiable; so that we have used them in order to get the reliable results. The procedure of study was based on such techniques as extracting of the context containing concepts of creation|destruction from the Russian National Corpus (RNC), and British National Corpus (BNC); analyzing and interpreting of those context on the basis of cognitive approach; finding of correspondence between the given concepts in the Russian and English world view. The key problem of our study is to find the correspondence between the elements of world view represented by opposite concepts such as creation and destruction. Findings: The concept of "destruction" indicates a process which leads to full or partial destruction of an object. In other words, it is a loss of the object primary essence: structures, properties, distinctive signs and its initial integrity. The concept of "creation", on the contrary, comprises positive characteristics, represents the activity aimed at improvement of the certain object, at the creation of ideal models of the world. On the other hand, destruction is represented much more widely in RNC than creation (1254 cases of the first concept by comparison to 192 cases for the second one). Our hypothesis consists in the antinomy represented by the aforementioned concepts. Being opposite both in respect of semantics and pragmatics, and from the point of view of axiology, they are at the same time complementary and interrelated concepts.

Keywords: creation, destruction, concept, world view

Procedia PDF Downloads 317

Authors: Parisa Bagheri Tookanlou

Abstract:

In this paper, we analyze a product line design problem faced by a manufacturing firm where the product line consists of a customized product in addition to a standard product and is offered in a market in which customers are heterogeneous on aesthetic attributes of the product. The customization level of a product is defined by the fraction of aesthetic attributes of the product that the manufacturer chooses to customize. In contrast to the existing literature on product line design that predominantly assumes deterministic demand, we consider the presence of demand uncertainty and frame the product line design problem in a single period (news vendor) setting. We examine the effect of demand uncertainty on product line decisions. Furthermore, we also examine how product line decisions are influenced by channel structure. While we use the centralized channel as a benchmark, we consider the decentralized dual channel where the customized product is sold through an online channel owned by the manufacturer and the standard product is sold through a retailer. We introduce a supply contract between the manufacturer and the retailer for improving channel efficiency and coordinate the distribution channel.

Keywords: product line design, demand uncertainty, customization level, distribution channel

Procedia PDF Downloads 153

Authors: Ali Abbas

Abstract:

Industrial Engineering is a broad multidisciplinary field with intersections and applications in numerous areas. In out current environment, the path from a phenomenon to value involves numerous people with expertise in various areas including domain knowledge of a field and the ability to make decisions within an operating environment that lead to value creation. We propose some skills that industrial engineering programs should focus on, and argue that an industrial engineer is a decision maker instead of a problem solver.

Keywords: decision analysis, problem-solving, value creation, industrial engineering

Procedia PDF Downloads 345

Authors: Yu-Chun Lin

Abstract:

This study examines whether the adoption of clawback provisions increases the demand for audit service. We use abnormal audit fees to proxy for the demand for audit service. Because firms’ voluntary adoption of the clawback provisions is endogenously determined, this study controls for this bias using the propensity-score matching technique. Based on 1,247 U.S. firms that voluntarily adopt clawback provisions during 2003-2013 and a matched sample, the empirical results show that clawback provisions adoption is associated with abnormal audit fees, especially by firms with higher likelihood of misstatements. When firm executives are overconfident, abnormal audit fees increase subsequent to clawback provisions adoption. Since regulators require listed firms to adopt recoupment policy after 2015 in U.S., the evidence about higher demand for audit service might provide political implications for mandatory clawback provisions.

Keywords: clawback provisions, audit service, audit fees, overconfidence

Procedia PDF Downloads 354

Authors: Riccardo Patriarca, Giulio Di Gravio, Francesco Costantino, Massimo Tronci

Abstract:

An accurate inventory management policy acquires a crucial role in the several high-availability sectors. In these sectors, due to the high-cost of spares and backorders, an (S-1, S) replenishment policy is necessary for high-availability items. The policy enables the shipment of a substitute efficient item anytime the inventory size decreases by one. This policy can be modelled following the Multi-Echelon Technique for Recoverable Item Control (METRIC). The METRIC is a system-based technique that allows defining the optimum stock level in a multi-echelon network, adopting measures in line with the decision-maker’s perspective. The METRIC defines an availability-cost function with inventory costs and required service levels, using as inputs data about the demand trend, the supplying and maintenance characteristics of the network and the budget/availability constraints. The traditional METRIC relies on the hypothesis that a Poisson distribution well represents the demand distribution in case of items with a low failure rate. However, in this research, we will explore the effects of using a Poisson distribution to model the demand of low failure rate items characterized by an irregular demand trend. This characteristic of a demand is not included in the traditional METRIC formulation leading to the need of revising its traditional formulation. Using the CV (Coefficient of Variation) and ADI (Average inter-Demand Interval) classification, we will define the inherent flaws of Poisson-based METRIC for irregular demand items, defining an innovative ad hoc distribution which can better fit the irregular demands. This distribution will allow defining proper stock levels to reduce stocking and backorder costs due to the high irregularities in the demand trend. A case study in the aviation domain will clarify the benefits of this innovative METRIC approach.

Keywords: METRIC, inventory management, irregular demand, spare parts

Procedia PDF Downloads 318

Authors: Azzedine Hamza, Chouaib Chakour, Messaoud Ramdani

Abstract:

Energy demand prediction plays a crucial role in achieving next-generation power systems for agricultural greenhouses. As a result, high prediction quality is required for efficient smart grid management and therefore low-cost energy consumption. The aim of this paper is to investigate the effectiveness of a hybrid data-driven model in day-ahead energy demand prediction. The proposed model consists of Discrete Wavelet Transform (DWT), and Adaptive Neuro-Fuzzy Inference System (ANFIS). The DWT is employed to decompose the original signal in a set of subseries and then an ANFIS is used to generate the forecast for each subseries. The proposed hybrid method (DWT-ANFIS) was evaluated using a greenhouse energy demand data for a week and compared with ANFIS. The performances of the different models were evaluated by comparing the corresponding values of Mean Absolute Percentage Error (MAPE). It was demonstrated that discret wavelet transform can improve agricultural greenhouse energy demand modeling.

Keywords: wavelet transform, ANFIS, energy consumption prediction, greenhouse

Procedia PDF Downloads 58

Authors: Cui Li, Xu Yuping

Abstract:

Based on the question of, "Are short video creators who are digital workers controlled by platform rules?" this study discusses the specific ways of platform rules control and the impact on short video creators. Based on the theory of digital labor, this paper adopts the method of in-depth interview and participant observation and chooses 24 producers of short video content of Tiktok to conduct in-depth interview. At the same time, through entering the short video creation field, the author carries on the four-month field investigation, obtains the creation process related data, and analyzes how the short video creator, as the digital labor, is controlled by the platform rule, as well as the creator in this process of compromise and resistance, a more comprehensive presentation of the short video creators of the labor process. It is found that the short video creators are controlled by the platform rules, mainly in the control of traffic rules, and the creators create content, compromise and resist under the guidance of traffic. First, while the platform seems to offer a flexible and autonomous way for creators to monetize, the threshold for participating in the event is actually very high for creators, and the rules for monetizing the event are vague. Under the influence of the flow rule, the creator is faced unstable incomes and high costs. Therefore, creators have to follow the rules of traffic to guide their own creation, began to flow-oriented content production, mainly reflected in the need to keep up-to-date, the pursuit of traffic to ride on the hot spots, in order to flow regardless, set up people "Born for the show", by the label solidified content creation. Secondly, the irregular working hours lead to the extension and overwork of the working hours, which leads to the internal friction of the short video creators at the spiritual level, and finally leads to the Rat Race of video creation. Thirdly, the video creator has completed the internalization and compromise of the platform rules in practice, which promotes the creator to continue to create independently, and forms the intrinsic motive force of the creator. Finally, the rule-controlled short video creators resist and fight in flexible ways, make use of the mechanism and rules of the platform to carry on the second creation, carry on the routine production, purchase the false flow, transfer the creation position to maintain own creation autonomy.

Keywords: short videos, tiktok, production, digital labors

Procedia PDF Downloads 36

Authors: A. Beril Tugrul

Abstract:

Demand on production and thereby the global need of energy is growing continuously. Each country has different trends on energy demand and supply according to their geopolitical and geographical locations, underground reserves, weather conditions and level of industrialization. Conventional energy resources such as oil, gas and coal –in other words fossil resources- remain dominant on primary energy supply in spite of causing of environmental problems. Energy supply and demand securities are essential within the energy importing and exporting countries. This concept affected all sectors, but especially impressed on political aspects of the countries and also global economic views.

Keywords: energy policy, energy economics, energy strategy, global trends, petro-dollar recycling

Procedia PDF Downloads 447

Authors: Mona Rashidirad, Hamid Salimian

Abstract:

Dynamic capabilities, as the most considerable capabilities of firms in the current fast-moving economy may not be sufficient for performance improvement, but their contribution to performance is undeniable. While much of the extant literature investigates the impact of dynamic capabilities on organisational performance, little attention has been devoted to understand whether and how dynamic capabilities create value. Dynamic capabilities as the mirror of competitive strategies should enable firms to search and seize new ideas, integrate and coordinate the firm’s resources and capabilities in order to create value. A careful investigation to the existing knowledge base remains us puzzled regarding the relationship among competitive strategies, dynamic capabilities and value creation. This study thus attempts to fill in this gap by empirically investigating the impact of dynamic capabilities on value creation and the mediating impact of competitive strategy on this relationship. We aim to contribute to dynamic capability view (DCV), in both theoretical and empirical senses, by exploring the impact of dynamic capabilities on firms’ value creation and whether competitive strategy can play any role in strengthening/weakening this relationship. Using a sample of 491 firms in the UK telecommunications market, the results demonstrate that dynamic sensing, learning, integrating and coordinating capabilities play a significant role in firm’s value creation, and competitive strategy mediates the impact of dynamic capabilities on value creation. Adopting DCV, this study investigates whether the value generating from dynamic capabilities depends on firms’ competitive strategy. This study argues a firm’s competitive strategy can mediate its ability to derive value from its dynamic capabilities and it explains the extent a firm’s competitive strategy may influence its value generation. The results of the dynamic capabilities-value relationships support our expectations and justify the non-financial value added of the four dynamic capability processes in a highly turbulent market, such as UK telecommunications. Our analytical findings of the relationship among dynamic capabilities, competitive strategy and value creation provide further evidence of the undeniable role of competitive strategy in deriving value from dynamic capabilities. The results reinforce the argument for the need to consider the mediating impact of organisational contextual factors, such as firm’s competitive strategy to examine how they interact with dynamic capabilities to deliver value. The findings of this study provide significant contributions to theory. Unlike some previous studies which conceptualise dynamic capabilities as a unidimensional construct, this study demonstrates the benefits of understanding the details of the link among the four types of dynamic capabilities, competitive strategy and value creation. In terms of contributions to managerial practices, this research draws attention to the importance of competitive strategy in conjunction with development and deployment of dynamic capabilities to create value. Managers are now equipped with solid empirical evidence which explains why DCV has become essential to firms in today’s business world.

Keywords: dynamic capabilities, resource based theory, value creation, competitive strategy

Procedia PDF Downloads 218

Authors: Susan Cardillo

Abstract:

This research will consider ways to bridge the gap between Computer Science and Media Communications and while doing so create Social Entrepreneurship for student success. New Media, as it has been referred to, is considered content available on-demand through Internet, a digital device, usually containing some kind of interactivity and creative participation. It is the interplay between technology, images, media and communications. The next generation of the newspaper, radio, television, and film students need to have a working knowledge of the technologies that are available for the creation of their work and taught to use this knowledge to create a voice. The work is interdisciplinary; in communications, we understand the necessity of reporting and disseminating information. In documentary film we understand the instructional and historic aspects of media and technology and in the non-profit sector, we see the need for expanding outlets for good. So, the true necessity is to utilize ‘new media’ technologies to advance social causes while reporting information, teaching and creating art. Goals: The goal of this research is to give communications students a better understanding of the technology that is both, currently at their disposal, and on the horizon, so that they can use it in their media, communications and art endeavors to be a voice for their generation. There is no longer a need to be a computer scientist to have a working knowledge of communication technologies and how they will benefit our work. There are many free and easy to use applications available for the creation of interactive communications. Methodology: This is Qualitative-Case Study that puts these ideas into action. There is a survey at the end of the experiment that is qualitative in nature and allows for the participants to share ideas and feelings about the technology and approach.

Keywords: interactive storytelling, web documentary, mass communications, teaching

Procedia PDF Downloads 253

Authors: R. T. Aggangan

Abstract:

Woodfuels continue to be a major component of the energy supply mix of the Philippines due to increasing demand for energy that are not adequately met by decreasing supply and increasing prices of fuel oil such as liquefied petroleum gas (LPG) and kerosene. The Development Academy of the Philippines projects the demand of woodfuels in 2016 as 28.3 million metric tons in the household sector and about 105.4 million metric tons combined supply potentials of both forest and non-forest lands. However, the Revised Master Plan for Forestry Development projects a demand of about 50 million cu meters of fuelwood in 2016 but the capability to supply from local sources is only about 28 million cu meters indicating a 44 % deficiency. Household demand constitutes 82% while industries demand is 18%. Domestic household demand for energy is for cooking needs while the industrial demand is for steam power generation, curing barns of tobacco: brick, ceramics and pot making; bakery; lime production; and small scale food processing. Factors that favour increased use of wood-based energy include the relatively low prices (increasing oil-based fuel prices), availability of efficient wood-based energy utilization technology, increasing supply, and increasing population that cannot afford conventional fuels. Moreover, innovations in combustion technology and cogeneration of heat and power from biomass for modern applications favour biomass energy development. This paper recommends policies and strategic directions for the development of the woodfuel industry with the twin goals of sustainably supplying the energy requirements of households and industry.

Keywords: biomass energy development, fuelwood, households and industry, innovations in combustion technology, supply and demand

Procedia PDF Downloads 302

Authors: Watcharin Sangma, Onsiri Chanmuang, Pitsanu Tongkhow

Abstract:

A forecasting model for steel demand uncertainty in Thailand is proposed. It consists of trend, autocorrelation, and outliers in a hierarchical Bayesian frame work. The proposed model uses a cumulative Weibull distribution function, latent first-order autocorrelation, and binary selection, to account for trend, time-varying autocorrelation, and outliers, respectively. The Gibbs sampling Markov Chain Monte Carlo (MCMC) is used for parameter estimation. The proposed model is applied to steel demand index data in Thailand. The root mean square error (RMSE), mean absolute percentage error (MAPE), and mean absolute error (MAE) criteria are used for model comparison. The study reveals that the proposed model is more appropriate than the exponential smoothing method.

Keywords: forecasting model, steel demand uncertainty, hierarchical Bayesian framework, exponential smoothing method

Procedia PDF Downloads 322

Authors: Sapfo Mortaki

Abstract:

Over the years, Greeks were leaving their homeland looking for better luck, including artists - painters and sculptors. Until mid-1940's, few were the ones who lived, worked, studied and were distinguished abroad. After the end of the Second World War, the group exit towards the cultural centers of the West commences. Since the mid-1970s, and especially in the early 1980s, Modern Greek Diaspora has undergone a new period. The creation of the European Community affects both the character of the immigration of artists as well as the creation of their identity within cultural pluralism. Since 1980 the situation in Greece changed significantly, and the contacts of artists with their homeland became greatly enhanced. Based on the above, this paper examines the cultural identity of the Greek artists in Paris during the 1980s, in comparison to the creation of the identity of the artists of the previous migratory movements, since this decade constitutes a critical point. Their cultural presence in Paris, as reflected in French and Greek daily press and journals of the period, is also investigated. At the same time, their connection with Greece and their contribution to the development and evolution of Contemporary Greek Art is discussed.

Keywords: artistic migration in Paris, cultural identity, cultural interaction, greek artists, greek contemporary art

Procedia PDF Downloads 302

Authors: Chengli Liu, C. K. M. Lee

Abstract:

The tradition competitive newsvendor game assumes decision makers are rational. However, there are behavioral biases when people make decisions, such as loss aversion, mental accounting and overconfidence. Overestimation of a subject’s own performance is one type of overconfidence. The objective of this research is to analyze the impact of the overestimated demand in the newsvendor competitive game with two players. This study builds a competitive newsvendor game model where newsvendors have private information of their demands, which is overestimated. At the same time, demands of each newsvendor forecasted by a third party institution are available. This research shows that the overestimation leads to demand steal effect, which reduces the competitor’s order quantity. However, the overall supply of the product increases due to overestimation. This study illustrates the boundary condition for the overestimated newsvendor to have the equilibrium order drop due to the demand steal effect from the other newsvendor. A newsvendor who has higher critical fractile will see its equilibrium order decrease with the drop of estimation level from the other newsvendor.

Keywords: bias, competing newsvendor, Nash equilibrium, overestimation

Procedia PDF Downloads 230

Authors: A. Majeed, P. Ali

Abstract:

Before designing an electrical system, the estimation of load is necessary for unit sizing and demand-generation balancing. The system could be a stand-alone system for a village or grid connected or integrated renewable energy to grid connection, especially as there are non–electrified villages in developing countries. In the classical model, the energy demand was found by estimating the household appliances multiplied with the amount of their rating and the duration of their operation, but in this paper, information exists for electrified villages could be used to predict the demand, as villages almost have the same life style. This paper describes a method used to predict the average energy consumed in each two months for every consumer living in a village by Artificial Neural Network (ANN). The input data are collected using a regional survey for samples of consumers representing typical types of different living, household appliances and energy consumption by a list of information, and the output data are collected from administration office of Piramagrun for each corresponding consumer. The result of this study shows that the average demand for different consumers from four villages in different months throughout the year is approximately 12 kWh/day, this model estimates the average demand/day for every consumer with a mean absolute percent error of 11.8%, and MathWorks software package MATLAB version 7.6.0 that contains and facilitate Neural Network Toolbox was used.

Keywords: artificial neural network, load estimation, regional survey, rural electrification

Procedia PDF Downloads 96

Authors: Siddhartha Paul, Debabrata Das

Abstract:

Closed-loop supply chain (CLSC) management focuses on integrating forward and reverse flow of material as well as information to maximize value creation over the entire life-cycle of a product. Bullwhip effect in supply chain management refers to the phenomenon where a small variation in customers’ demand results in larger variation of orders at the upstream levels of supply chain. Since the quality and quantity of products returned to the collection centers (as a part of reverse logistics process) are uncertain, bullwhip effect is inevitable in CLSC. Therefore, in the present study, first, through an extensive literature survey, we identify all the important factors related to forward as well as reverse supply chain which causes bullwhip effect in CLSC. Second, we develop a system dynamics model to study the interrelationship among the factors and their effect on the performance of overall CLSC. Finally, the results of the simulation study suggest that demand forecasting, lead times, information sharing, inventory and work in progress adjustment rate, supply shortages, batch ordering, price variations, erratic human behavior, parameter correcting, delivery time delays, return rate of used products, manufacturing and remanufacturing capacity constraints are the important factors which have a significant influence on system’s performance, specifically on bullwhip effect in a CLSC.

Keywords: bullwhip effect, closed-loop supply chain, system dynamics, variance ratio

Procedia PDF Downloads 139

Authors: Qamar Iqbal

Abstract:

Companies strive to improve their forecasting methods to predict the fluctuations in customer demand. These fluctuation and variation in demand affect the manufacturing operations and can limit a company’s ability to fulfill customer demand on time. Companies keep the inventory buffer and maintain the stocking levels to reduce the impact of demand variation. A mid-size company deals with thousands of stock keeping units (skus). It is neither easy and nor efficient to control and manage each sku. Inventory classification provides a tool to the management to increase their ability to support customer demand. The paper presents a framework that shows how inventory classification can play a role to increase supply chain responsiveness. A case study will be presented to further elaborate the method both for build-to-order and build-to-forecast manufacturing environments. Results will be compared that will show which manufacturing setting has advantage over another under different circumstances. The outcome of this study is very useful to the management because this will give them an insight on how inventory classification can be used to increase their ability to respond to changing customer needs.

Keywords: inventory classification, supply chain responsiveness, forecast, manufacturing environment

Procedia PDF Downloads 572

Authors: Pirom Thangchitpianpol, Suttipong Jumroonrut

Abstract:

This research investigates the distribution of food demand for animal food and the optimum amount of that food production at minimum cost. The data consist of customer purchase orders for the food of laying hens, price of food for laying hens, cost per unit for the food inventory, cost related to food of laying hens in which the food is out of stock, such as fine, overtime, urgent purchase for material. They were collected from January, 1990 to December, 2013 from a factory in Nakhonratchasima province. The collected data are analyzed in order to explore the distribution of the monthly food demand for the laying hens and to see the rate of inventory per unit. The results are used in a stochastic linear programming model for aggregate planning in which the optimum production or minimum cost could be obtained. Programming algorithms in MATLAB and tools in Linprog software are used to get the solution. The distribution of the food demand for laying hens and the random numbers are used in the model. The study shows that the distribution of monthly food demand for laying has a normal distribution, the monthly average amount (unit: 30 kg) of production from January to December. The minimum total cost average for 12 months is Baht 62,329,181.77. Therefore, the production planning can reduce the cost by 14.64% from real cost.

Keywords: animal food, stochastic linear programming, aggregate planning, production planning, demand uncertainty

Procedia PDF Downloads 355

Authors: Zoya Khan, Amina Muzaffar

Abstract:

Social media based brand communities are communities that are developed around a brand. In the highly globalized world of today, Facebook is undoubtedly being regarded and has been widely recognized as a trendy and well-accepted medium of marketing. By means of a Facebook fan page, organizations can effectually create, enhance, and sustain customer-brand relationship. In this article, we explore whether brand communities based on social media (a special type of online brand communities) have positive effects on the main community elements and value creation practices in the communities as well as on brand trust and brand loyalty. A survey was conducted and 201 valid responses were used for analysis. The results of structural equation modeling show that brand communities established on social media have positive effects on value creation practices. Brand use, impression management practices and brand identification has an impact on brand trust and this brand trust then further leads to brand loyalty.

Keywords: relationship quality, impression management practices, brand identification, brand trust, brand loyalty

Procedia PDF Downloads 451

Authors: Paula Linna

Abstract:

During the recent years interest in inclusive business has increased. Still, research on inclusive business development is at infancy. This study provides empirical evidence on inclusive business development of mini-grid solution for the rural African communities. This study tests how well the insights of creation theory can explain inclusive business development process which often occurs under uncertainty due to demands for developing new technology, new business model and establishing business in new market. These several uncertain elements of business development impact what kind of business strategies the entrepreneur can practice and what kind of decision making tools to use. In addition, community engagement is essential for the successful operative management of a mini-grid solution. This study advances the understanding of inclusive business development and can be used as the foundation for future work to facilitate the process of new business venture creation at the BOP particularly when developing community-operated entrepreneurship model.

Keywords: creation theory, base of the pyramid (BOP), community-operated entrepreneurship, rural African communities

Procedia PDF Downloads 479

Authors: Muzamil Mahmood, Afshan Naseem, Muhammad Zeeshan Mirza, Yasir Ahmad, Masood Raza

Abstract:

The purpose of this research is to analyze how aviation maintenance workers’ characteristics and work demand affect their development of work-related musculoskeletal disorders (WMSDs). Guided by literature on task characteristics, work demand, and WMSDs, data is collected from 128 aviation maintenance workers of private and public airlines. Data is then analyzed through descriptive and inferential statistics. It is found that task characteristics have a significant positive effect on WMSDs and an increase in tasks performed by aviation maintenance workers leads to increase in WMSDs. Work demand did not have a significant effect on WMSDs. The task characteristics of aviation maintenance workers moderates the relationship between their work demand and WMSDs. This reveals that task characteristics of aviation maintenance workers enhance the effect of work demand on WMSDs. The task characteristics of aviation maintenance workers are challenging and unpredictable. Subsequently, WMSDs are prevalent among aviation maintenance workers. The work demand of aviation maintenance workers does not influence their development of WMSDs. Pakistan Civil Aviation Authority should minimize the intensity of tasks assigned to aviation maintenance workers by introducing work dynamisms such as task sharing, job rotation, and probably teleworking to enhance flexibility. Human Resource and Recruitment Department need to consider the ability and fitness levels of potential aviation maintenance workers during recruitment. In addition, regular physical activities and ergonomic policies should be put in place by the management of the Pakistan Civil Aviation Authority to reduce the incidences of WMSDs.

Keywords: work related musculoskeletal disorders, ergonomics, occupational health and safety, human factors

Procedia PDF Downloads 115

Authors: M. Khoshab, M. J. Sedigh

Abstract:

Dynamic systems, which in mathematical point of view are those governed by differential equations, are much more difficult to study and to predict their behavior in comparison with static systems which are governed by algebraic equations. Economical systems such as market are among complicated dynamic systems. This paper tries to adopt a very simple mathematical model for market and to study effect of supply and demand function on behavior of the market while the supply side experiences a lag due to production restrictions.

Keywords: dynamic system, lag on supply demand, market stability, supply demand model

Procedia PDF Downloads 274

Authors: Dnyanesh P. Mathur, Gregory L. Slater

Abstract:

Gravitation and the expansion of the universe at a large scale are generally regarded as two completely distinct phenomena. Yet, in general, relativity theory, they both manifest as 'curvature' of spacetime. We propose a hypothesis which treats these two 'curvature-producing' phenomena as aspects of an underlying process. This process treats spacetime itself as composed of discrete units (Plancktons) and is 'dynamic' in the sense that these elements of spacetime are continually being both created and annihilated. It is these two complementary processes of Planckton creation and Planckton annihilation which manifest themselves as - 'cosmic expansion' on the one hand and as 'gravitational attraction’ on the other. The Planckton hypothesis treats spacetime as a perfect fluid in the same manner as the co-moving frame of reference of Friedman equations and the Gullstrand-Painleve metric; i.e.Planckton hypothesis replaces 'curvature' of spacetime by the 'flow' of Plancktons (spacetime). Here we discuss how this perspective may allow a unified description of both cosmological and gravitational acceleration as well as providing a mechanism for inducing an irreducible action at every point associated with the creation and annihilation of Plancktons, which could be identified as the zero point energy.

Keywords: discrete spacetime, spacetime flow, zero point energy, planktons

Procedia PDF Downloads 82