Search results for: manufacturing strategy

Authors: Venkatesan Sundaramoorthy

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The field of ceramics has undergone a remarkable transformation with the advent of additive manufacturing technologies. This comprehensive review explores the mechanical properties of additively manufactured ceramic components, focusing on key materials such as Alumina, Zirconia, and Silicon Carbide. The study delves into various authors' review technology into the various additive manufacturing techniques, including Stereolithography, Powder Bed Fusion, and Binder Jetting, highlighting their advantages and challenges. It provides a detailed analysis of the mechanical properties of these ceramics, offering insights into their hardness, strength, fracture toughness, and thermal conductivity. Factors affecting mechanical properties, such as microstructure and post-processing, are thoroughly examined. Recent advancements and future directions in 3D-printed ceramics are discussed, showcasing the potential for further optimization and innovation. This review underscores the profound implications of additive manufacturing for ceramics in industries such as aerospace, healthcare, and electronics, ushering in a new era of engineering and design possibilities for ceramic components.

Keywords: mechanical properties, additive manufacturing, ceramic materials, PBF

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Authors: Liqiang Chen

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This study investigates the effects of political connections on the association between firms’ business strategy and their tax aggressiveness in an emerging economy such as China. By studying all public Chinese firms in the period from 2011 to 2017, we find that firms adopting innovative business strategy are more tax aggressive overall, but innovative firms with political connections are less tax aggressive compared to those without political connections. Moreover, we document several channels through which political connections affect the association between innovative business strategy and tax aggressiveness. In particular, we show that the mitigation effect of political connections on tax aggressiveness is stronger for innovative firms located in areas with a lower marketization index and for innovative firms with a lower leverage level or with less earnings management. Our results are robust to an instrumental variable approach to account for possible endogenous bias. Our study contributes to the understanding of firms’ tax behaviors in an emerging economy setting and suggests that there are costs associated with political connections, such as foregone tax saving opportunities, which are understudied in the prior literature.

Keywords: tax aggressiveness, business strategy, political connections, emerging economy

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Authors: Dejan Metodijeski, Elizabeta Mitreva, Nako Taskov, Oliver Filiposki

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Tourism development strategies are an important link in the tourism policy that is used to make its management better and easier. A public-public partnership (PUP) is a partnership between two or more public authorities or between a public authority and any non-profit organization with the goal of providing services and facilities or transferring technical skills. The paper presents this kind of partnership between two public authorities in Macedonia, the Municipality of Gazi Baba on one hand, and the University of Goce Delcev on the other. The main idea of this partnership is the development of a tourism strategy for the Municipality of Gazi Baba by the University on one side, and on the other, the construction of a mini park in the court of the University by the Municipality. This paper presents the causes and analyzes the procedures relating to this partnership and the methodology of the tourism development strategy. It contains a relevant literature review related to PUPs and tourism development strategy. The results and benefits of this partnership are presented with figures.

Keywords: public-public partnership, tourism development strategy, municipality of Gazi Baba, Macedonia

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Authors: Mahmood Dehqan, Peyman Peyvasteh

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In recent years there has been a growing interest in issues concerning the impact of sociocultural theory (SCT) of learning on different aspects of second/foreign language learning. This study aimed to find the possible effects of sociocultural teaching techniques on reading strategy of EFL learners. Indeed, the present research compared the impact of peer and teacher scaffolding on EFL learners’ reading strategy use across two proficiency levels. To this end, a pre-test post-test quasi-experimental research design was used and two instruments were utilized to collect the data: Nelson English language test and reading strategy questionnaire. Ninety five university students participated in this study were divided into two groups of teacher and peer scaffolding. Teacher scaffolding group received scaffolded help from the teacher based on three mechanisms of effective help within ZPD: graduated, contingent, dialogic. In contrast, learners of peer scaffolding group were unleashed from the teacher-fronted classroom as they were asked to carry out the reading comprehension tasks with the feedback they provided for each other. Results obtained from ANOVA revealed that teacher scaffolding group outperformed the peer scaffolding group in terms of reading strategy use. It means teacher’s scaffolded help provided within the learners’ ZPD led to better reading strategy improvement compared with the peer scaffolded help. However, the interaction effect between proficiency factor and teaching technique was non-significant, leading to the conclusion that strategy use of the learners was not affected by their proficiency level in either teacher or peer scaffolding groups.

Keywords: peer scaffolding, proficiency level, reading strategy, sociocultural theory, teacher scaffolding

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

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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

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Authors: M. K. Benhaoua, A. K. Singh, A. E. H. Benyamina, A. Kumar, P. Boulet

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In this paper, we propose a new packing strategy to find free resources for run-time mapping of application tasks on NoC-based Heterogeneous MPSoCs. The proposed strategy minimizes the task mapping time in addition to placing the communicating tasks close to each other. To evaluate our approach, a comparative study is carried out. Experiments show that our strategy provides better results when compared to latest dynamic mapping strategies reported in the literature.

Keywords: heterogeneous MPSoCs, NoC, dynamic mapping, routing

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Authors: Ho-Jun Jo, Wook-Won Kim, Yong-Sung Kim, Jin-O Kim

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The application of ESS (Energy Storage Systems) in the future grids has been the solution of the microgrid. However, high investment costs necessitate accurate modeling and control strategy of ESS to justify its economic viability and further underutilization. Therefore, the reasonable control strategy for ESS which is subjected to generator and usage helps to curtail the cost of investment and operation costs. The rated frequency in power system is decreased when the load is increasing unexpectedly; hence the thermal power is operated at the capacity of only its 95% for the Governor Free (GF) to adjust the frequency as reserve (5%) in practice. The ESS can be utilized with governor at the same time for the frequency response due to characteristic of its fast response speed and moreover, the cost of ESS is declined rapidly to the reasonable price. This paper presents the ESS control strategy to extend usage of the ESS taken account into governor’s ramp rate and reduce the governor’s intervention as well. All results in this paper are simulated by MATLAB.

Keywords: micro grid, energy storage systems, ramp rate, control strategy

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Authors: Justyna Rybicka, Ashutosh Tiwari, Shane Enticott

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In the age of automation and computation aiding manufacturing, it is clear that manufacturing systems have become more complex than ever before. Although technological advances provide the capability to gain more value with fewer resources, sometimes utilisation of the manufacturing capabilities available to organisations is difficult to achieve. Flexible manufacturing systems (FMS) provide a unique capability to manufacturing organisations where there is a need for product range diversification by providing line efficiency through production flexibility. This is very valuable in trend driven production set-ups or niche volume production requirements. Although FMS provides flexible and efficient facilities, its optimal set-up is key in achieving production performance. As many variables are interlinked due to the flexibility provided by the FMS, analytical calculations are not always sufficient to predict the FMS’ performance. Simulation modelling is capable of capturing the complexity and constraints associated with FMS. This paper demonstrates how discrete event simulation (DES) can address complexity in an FMS to optimise the production line performance. A case study of an automotive FMS is presented. The DES model demonstrates different configuration options depending on prioritising objectives: utilisation and throughput. Additionally, this paper provides insight into understanding the impact of system set-up constraints on the FMS performance and demonstrates the exploration into the optimal production set-up.

Keywords: discrete event simulation, flexible manufacturing system, capacity performance, automotive

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Authors: P. Gil, F. Charrua-Santos, A. A. Baptista, S. Azevedo, A. Espirito-Santo, J. Páscoa

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Lean manufacturing is a philosophy of industrial management that aims to identify and eliminate any waste that exists in the companies. The augmented reality is a new technology that stills being developed in terms of software and hardware. This technology consists of an image capture device, a device for data processing and an image visualization equipment to visualize collected and processed images. It is characterized by being a technology that merges the reality with the virtual environment, so there is an instantaneous interaction between the two environments. The present work intends to demonstrate that the use of the augmented reality will contribute to improve some tools and methods used in Lean manufacturing philosophy. Through several examples of application in industry it will be demonstrated that the technological impact of the augmented reality on the Lean Manufacturing philosophy contribute to added value improvements.

Keywords: lean manufacturing, augmented reality, case studies, value

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Authors: Seher Arslankaya, Merve Si̇mge Usuk

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Lean manufacturing, which is based on the Toyota Production System, has focused on increasing the performance in various fields by eliminating the waste. By waste elimination, the lead time is reduced significantly and lean manufacturing provides companies with an important privilege under today's competitive conditions. The initial point of lean thinking is the value. This notion create of a specific product with specific properties for which the customer is ready to pay and which satisfies his needs within a specific time frame and at a specific price. Considering this, the final customer determines the value but the manufacturer creates this value of the product. The value stream is the whole set of activities required for each product. These activities may or may not be essential for the value. Through value stream mapping, all employees can see the sources of waste and develop future cases to eliminate it. This study focused on manufacturing to eliminate the waste which created a cost but did not create any value. The study was carried out at the Department of Assembly/Logistics at Toyota Motor Manufacturing Turkey from the automotive industry with a high product mix and variable demands. As a result of the value stream analysis, improvements are planned for the future cases. The process was improved by applying these suggestions.

Keywords: lead time, lean manufacturing, performance improvement, value stream papping

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Authors: Jarunee Wonglimpiyarat

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This paper explores the innovation management strategy of Thailand in moving towards the Detroit of Asia. The study analyses Thailand’s automotive cluster based on Porter’s Diamond Model and national innovation system (NIS) framework. A qualitative methodology was carried out, using semi-structured interviews with the players in the Thai automotive industry. Thailand took a different NIS approach by pursuing an Original Equipment Manufacture (OEM) strategy to attract foreign investments in building its automotive cluster, a different path from other Asian countries that competed with Own Brand Manufacture (OBM) strategies. The findings provide useful lessons for other newly industrialized countries (NICs) in adopting the cluster policies to move up the technological ladders.

Keywords: innovation management strategy, national innovation system (NIS), Detroit of Asia, original equipment manufacturer (OEM)

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Authors: A. Luft, S. Bremen, N. Balc

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The task of flexibility planning and design, just like factory planning, for example, is to create the long-term systemic framework that constitutes the restriction for short-term operational management. This is a strategic challenge since, due to the decision defect character of the underlying flexibility problem, multiple types of flexibility need to be considered over the course of various scenarios, production programs, and production system configurations. In this context, an evaluation model has been developed that integrates both conventional and additive resources on a basic task level and allows the quantification of flexibility enhancement in terms of mix and volume flexibility, complexity reduction, and machine capacity. The model helps companies to decide in early decision-making processes about the potential gains of implementing additive manufacturing technologies on a strategic level. For companies, it is essential to consider both additive and conventional manufacturing beyond pure unit costs. It is necessary to achieve an integrative view of manufacturing that incorporates both additive and conventional manufacturing resources and quantifies their potential with regard to flexibility and manufacturing complexity. This also requires a structured process for the strategic production systems design that spans the design of various scenarios and allows for multi-dimensional and comparative analysis. A respective guideline for the planning of additive resources on a strategic level is being laid out in this paper.

Keywords: additive manufacturing, production system design, flexibility enhancement, strategic guideline

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Authors: S. K. Ashiquer Rahman

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The paper concentrates on the importance of Sustainable Campus Strategies, emphasizing the significance of mobilizing Innovative technological tools for constructing effectiveness of higher education strategy and institutional cooperation for sustainable campus at the university level and preparing the university’s authority to face the upcoming higher education strategy and institutional cooperation difficulties to the Sustainable Campus Plan. Within a framework of Sustainable Campus Strategies and institutional cooperation, the paper discusses the significance of a set of reference points that will lead to operational activities for multi-stakeholder multi-criteria evaluation of Higher Education and Research Institutions relative to the Sustainable Campus criteria and potential action plan for the University’s Strategy and Institutional Cooperation. It makes mention of the emergence of the effectiveness of Higher Education Strategy and Institutional Cooperation as well as the necessity of mobilizing innovative technological methods and tools for constructing the effectiveness of this Process. The paper outlines the conceptual framing of a Sustainable Campus Strategy, Institutional Cooperation and Action Plan for a sustainable campus. Optimistically, these will be a milestone in higher education, a pathway to meet the imminent Sustainable Campus Strategy and Institutional Cooperation of the completive world, and be able to manage the required criteria for a Sustainable University.

Keywords: higher education strategy, institutional cooperation, sustainable campus, multi-criteria evaluation, innovative method and tools

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Authors: Min Dai, Hong Liu, Shuaijie Qian

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We study a portfolio selection problem of an investor who faces constraints on rebalancing frequency, which is common in pension fund investment. We formulate it as a multiple optimal stopping problem and utilize the dynamic programming principle. By numerically solving the corresponding Hamilton-Jacobi-Bellman (HJB) equation, we find a series of free boundaries characterizing optimal strategy, and the constraints significantly impact the optimal strategy. Even in the absence of transaction costs, there is a no-trading region, depending on the number of the remaining trading chances. We also find that the equivalent wealth loss caused by the constraints is large. In conclusion, our model clarifies the impact of the constraints on transaction frequency on the optimal strategy.

Keywords: portfolio selection, rebalancing frequency, optimal strategy, free boundary, optimal stopping

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Authors: Yanting Cao

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The UK has strong economic growth, which attracts other countries to invest there through globalization. This research process will be based on quantitative and qualitative descriptive analysis using interviews. The secondary analysis will involve a case study approach to understand the important aspects of leadership skills. The research outcomes will be identifying the strength and weaknesses of the leadership skills of UK automobile manufacturing enterprises and suggest the best practices adopted by the respective countries for better results.

Keywords: engineering management, leadership, Industrial project management, Project managers, automobile manufacturing

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Authors: Amir Aziz, Martin Tuner, Sebastian Verhelst, Oivind Andersson

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Partially Premixed Combustion (PPC) is a combustion concept which aims to simultaneously achieve high efficiency and low engine-out emissions. Extending the ignition delay to promote the premixing, has been recognized as one of the key factor to achieve PPC. Fuels with high octane number have been proven to be a good candidates to extend the ignition delay. In this work, E85 (85% ethanol) has been used as a PPC fuel. The aim of this work was to investigate a suitable injection strategy for PPC combustion fueled with E85 in a single-cylinder heavy-duty engine. Single and double injection strategy were applied with different injection timing and the ratio between different injection pulses was varied. The performance and emission were investigated at low load. The results show that the double injection strategy should be preferred for PPC fueled with E85 due to low emissions and high efficiency, while keeping the pressure raise rate at very low levels.

Keywords: E85, partially premixed combustion, injection strategy, performance and emission

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Authors: Hadi Adibi-Asl, Alireza Doosthosseini, Amir Taghavipour

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This paper studies the design of an adaptive control strategy to tune an active steering system for better drivability and maneuverability. In the first step, adaptive control strategy is applied to estimate the uncertain parameters on-line (e.g. cornering stiffness), then the estimated parameters are fed into the pole placement controller to generate corrective feedback gain to improve the steering system dynamic’s characteristics. The simulations are evaluated for three types of road conditions (dry, wet, and icy), and the performance of the adaptive pole placement control (APPC) are compared with pole placement control (PPC) and a passive system. The results show that the APPC strategy significantly improves the yaw rate and side slip angle of a bicycle plant model.

Keywords: adaptive control, active steering, pole placement, vehicle dynamics

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Authors: Khalid Abdelghany

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Additive Manufacturing (AM) is the manufacturing technology that is used to fabricate fast products direct from CAD models in very short time and with minimum operation steps. Jointly with the advancement in medical computer modeling, AM proved to be a very efficient tool to help physicians, orthopedic surgeons and dentists design and fabricate patient-tailored surgical guides, templates and customized implants from the patient’s CT / MRI images. AM jointly with computer-assisted designing/computer-assisted manufacturing (CAD/CAM) technology have enabled medical practitioners to tailor physical models in a patient-and purpose-specific fashion and helped to design and manufacture of templates, appliances and devices with a high range of accuracy using biocompatible materials. In developing countries, there are some technical and financial limitations of implementing such advanced tools as an essential portion of medical applications. CMRDI institute in Egypt has been working in the field of Medical Additive Manufacturing since 2003 and has assisted in the recovery of hundreds of poor patients using these advanced tools. This paper focuses on the surgical and dental use of 3D printing technology in Egypt as a developing country. The presented case studies have been designed and processed using the software tools and additive manufacturing machines in CMRDI through cooperative engineering and medical works. Results showed that the implementation of the additive manufacturing tools in developed countries is successful and could be economical comparing to long treatment plans.

Keywords: additive manufacturing, dental and orthopeadic stents, patient specific surgical tools, titanium implants

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Authors: Viraj Tyagi, Ajai Jain, P. K. Jain, Aarushi Jain

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This paper presents a genetic algorithm based loading methodology for a capacity constrained job-shop with the consideration of alternative process plans for each part to be produced. Performance analysis of the proposed methodology is carried out for two case studies by considering two different manufacturing scenarios. Results obtained indicate that the methodology is quite effective in improving the shop load balance, and hence, it can be included in the frameworks of manufacturing planning systems of job-shop oriented industries.

Keywords: manufacturing planning, loading, genetic algorithm, job shop

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Authors: Rong Yuan, Zhao Tao

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Only a handful of literature have used to non-linear model to investigate the influencing factors of greenhouse gas (GHG) emissions in China’s manufacturing sectors. And there is a limit in investigating quantitatively and systematically the mechanism of correlation between economic development and GHG emissions considering inherent differences among manufacturing sub-sectors. Considering the sectorial characteristics, the manufacturing sub-sectors with various impacts of output on GHG emissions may be explained by different development modes in each manufacturing sub-sector, such as investment scale, technology level and the level of international competition. In order to assess the environmental impact associated with any specific level of economic development and explore the factors that affect GHG emissions in China’s manufacturing industry during the process of economic growth, using the threshold Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT) model, this paper investigated the influence impacts of GHG emissions for China’s manufacturing sectors of different stages of economic development. A data set from 28 manufacturing sectors covering an 18-year period was used. Results demonstrate that output per capita and investment scale contribute to increasing GHG emissions while energy efficiency, R&D intensity and FDI mitigate GHG emissions. Results also verify the nonlinear effect of output per capita on emissions as: (1) the Environmental Kuznets Curve (EKC) hypothesis is supported when threshold point RMB 31.19 million is surpassed; (2) the driving strength of output per capita on GHG emissions becomes stronger as increasing investment scale; (3) the threshold exists for energy efficiency with the positive coefficient first and negative coefficient later; (4) the coefficient of output per capita on GHG emissions decreases as R&D intensity increases. (5) FDI shows a reduction in elasticity when the threshold is compassed.

Keywords: China, GHG emissions, manufacturing industry, threshold STIRPAT model

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Authors: Riddhi Shah

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Centre-state relations in India are a fascinating area of studies. The structure of the relationship has an effect on every single aspect of life as we know it in India. This paper is an attempt to study centre-state relations in the context of India’s maritime counter-terrorism strategy. Although the Government of India has not publicly stated its counter-terrorism strategy on the sea; intelligence, information sharing, crisis response, finances for internal security and the nation’s legislation for battling terrorism together comprise of India’s maritime-terrorism strategy. Through study of these areas, the paper argues that the centre-state divide has had systemic implications on India’s maritime security and has largely done more harm than good to collective initiatives that aspire to prevent future risk of terrorism from the sea or on the sea.

Keywords: counter-terrorism, maritime terrorism, India, federalism, centre-state relations

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Authors: Lindie Grebe

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This paper reports on a study that explored the strategizing practices of professional accountants in the mining industry, based on Jarratt and Stiles’ dominant strategizing practice models framework. Drawing on a strategy-as-practice perspective, the paper recognises qualified professional accountants in strategic management such as Chief Executive Officers, as strategy practitioners that perform their strategizing practices and praxis within a specific context. The main findings of this paper were produced through semi-structured individual interviews with accountants that perform strategy on a business level in the South African mining industry. Qualitative data were analysed through conversation analysis over two coding-cycles. Findings describe accountant strategists as practitioners who challenge the dominant business model when a disconnect seems to exist between international corporate level strategy and business level strategy in the South African mining industry. Accountant strategy practitioners described their dominant strategizing practice model as incremental change during strategic planning and as a lived experience during strategy implementation. Findings portrayed these strategists as taking initiative as strategy leaders in a dynamic and volatile environment to combine their accounting background with strategic management and challenge the dominant business model. Understanding how accountant strategists perform strategizing offers insight into the social practice of strategic management. This understanding contributes to the body of knowledge on strategizing in the South African mining industry. In addition, knowledge on the transformation of accountants as strategists could provide valuable practice relevant insights for accounting educators and the accounting profession alike.

Keywords: accountant strategists, dominant strategizing practice models framework, mining industry, strategy-as-practice

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Authors: Chao Jen-Chih, Kuo-Wei Hsu

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Many venues and spaces in cities gradually become old and decayed as time goes by and develops. Urban regeneration is the critical strategy to promote local development, but the method of spatial reconstruction which is emphasized in the issue of urban regeneration is questioned for bringing cultural, social and economic impacts on old city areas. The idea of “Urban Regeneration Station (URS)” is proposed for Taipei City Government to introduce the entry and disturbance of communities and related groups with the concept of creative city. This study explored how an URS promotes local development again through the strength of communities and the energy of local residence community, and it established the Platform Strategy for URS. The research results are as follows: URS through the promotion of government agencies, experts, scholars and the third sector, to the selection of different types of units stationed in business, through exhibitions, seminars, and other activities to explore local development issues, vetting each stationed execution efficiency units, and different units stationed by URS establish URS overall network platform strategy.

Keywords: urban regeneration, platform strategy, creative city, Taipei city

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Authors: T. A. Faria, C. C. Toniolo, L. F. Ribeiro

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In order to satisfy the costumer’s needs, many sectors of industry and services has been spending major effort to make its processes more efficient. Facing a situation, when its production cannot cover the demand, the traditional way to achieve the production required involves, mostly, adding shifts, workforce, or even more machines. This paper narrates how lean manufacturing supported a dramatic increase of productivity at a rail welding plant in Brazil in order to meet the demand for the next years.

Keywords: productivity, lean manufacturing, rail welding, value stream mapping

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Authors: Yun Zuo, Wenju Li

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Shenzhen is one of China’s gates to the world. What was once a fishing village is now a metropolis of more than 10 million people. Because of its unprecedented pace of development, it also brings a serious of issues, such as the self-renewal of the city. In the paper, we use Sungang-Quingshuihe(SQ) as an example. SQ is one of the oldest districts in the east of Shenzhen. Nowadays, SQ faces many challenges. This is because once the logistics area has been slowly disappear, the new identity will be replaced. As a result, we are to minimize damages to the city in transforming process by seeking for a new design strategy. In the meantime, we think that each district in a city has its own role forming the whole city together. Therefore, a district transformation is functionally-oriented and for improving city quality in focus.

Keywords: old district, renewal strategy, public space, sustainable development

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Authors: Maria Debora Braga, Luigi Riso, Maria Grazia Zoia

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Risk-based approaches to asset allocation are portfolio construction methods that do not rely on the input of expected returns for the asset classes in the investment universe and only use risk information. They include the Minimum Variance Strategy (MV strategy), the traditional (volatility-based) Risk Parity Strategy (SRP strategy), the Most Diversified Portfolio Strategy (MDP strategy) and, for many, the Equally Weighted Strategy (EW strategy). All the mentioned approaches were based on portfolio volatility as a reference risk measure but in 2023, the Kurtosis-based Risk Parity strategy (KRP strategy) and the Minimum Kurtosis strategy (MK strategy) were introduced. Understandably, they used the fourth root of the portfolio-fourth moment as a proxy for portfolio kurtosis to work with a homogeneous function of degree one. This paper contributes mainly theoretically and methodologically to the framework of risk-based asset allocation approaches with two steps forward. First, a new and more flexible objective function considering a linear combination (with positive coefficients that sum to one) of portfolio volatility and portfolio kurtosis is used to alternatively serve a risk minimization goal or a homogeneous risk distribution goal. Hence, the new basic idea consists in extending the achievement of typical risk-based approaches’ goals to a combined risk measure. To give the rationale behind operating with such a risk measure, it is worth remembering that volatility and kurtosis are expressions of uncertainty, to be read as dispersion of returns around the mean and that both preserve adherence to a symmetric framework and consideration for the entire returns distribution as well, but also that they differ from each other in that the former captures the “normal” / “ordinary” dispersion of returns, while the latter is able to catch the huge dispersion. Therefore, the combined risk metric that uses two individual metrics focused on the same phenomena but differently sensitive to its intensity allows the asset manager to express, in the context of an objective function by varying the “relevance coefficient” associated with the individual metrics, alternatively, a wide set of plausible investment goals for the portfolio construction process while serving investors differently concerned with tail risk and traditional risk. Since this is the first study that also implements risk-based approaches using a combined risk measure, it becomes of fundamental importance to investigate the portfolio effects triggered by this innovation. The paper also offers a second contribution. Until the recent advent of the MK strategy and the KRP strategy, efforts to highlight interesting properties of risk-based approaches were inevitably directed towards the traditional MV strategy and SRP strategy. Previous literature established an increasing order in terms of portfolio volatility, starting from the MV strategy, through the SRP strategy, arriving at the EQ strategy and provided the mathematical proof for the “equalization effect” concerning marginal risks when the MV strategy is considered, and concerning risk contributions when the SRP strategy is considered. Regarding the validity of similar conclusions when referring to the MK strategy and KRP strategy, the development of a theoretical demonstration is still pending. This paper fills this gap.

Keywords: risk parity, portfolio kurtosis, risk diversification, asset allocation

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Authors: Chen Zhang; Qiang Wang

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With the rapid development of the new generation of digital technology, various industries have created more and more value by using digital technology, accelerating the digital transformation of various industries. The economic form of human society has evolved with the progress of technology, and in this context, the power conversion, transformation and upgrading of the manufacturing industry in terms of quality, efficiency and energy change has become a top priority. Based on the digitalization background, this paper analyzes the transformation and upgrading efficiency of the manufacturing industry and evaluates the impact of the driving factors, which have very important theoretical and practical significance. This paper utilizes qualitative research methods, entropy methods, data envelopment analysis methods and econometric models to explore the transformation and upgrading efficiency of manufacturing enterprises and driving factors. The study shows that the transformation and upgrading efficiency of the manufacturing industry shows a steady increase, and regions rich in natural resources and social resources provide certain resources for transformation and upgrading. The ability of scientific and technological innovation has been improved, but there is still much room for progress in the transformation of scientific and technological innovation achievements. Most manufacturing industries pay more attention to green manufacturing and sustainable development. In addition, based on the existing problems, this paper puts forward suggestions for improving infrastructure construction, developing the technological innovation capacity of enterprises, green production and sustainable development.

Keywords: digitization, manufacturing firms, transformation and upgrading, efficiency, driving factors

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Authors: Ming-Jong Tsai, Y. L. Cheng, Y. L. Kuo, S. Y. Hsiao, J. W. Chen, P. H. Liu, D. H. Chen

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The 3D printing is a combination of digital technology, material science, intelligent manufacturing and control of opto-mechatronics systems. It is called the third industrial revolution from the view of the Economist Journal. A color 3D printing machine may provide the necessary support for high value-added industrial and commercial design, architectural design, personal boutique, and 3D artist’s creation. The main goal of this paper is to develop photo-curable color 3D manufacturing technology and system implementation. The key technologies include (1) Photo-curable color 3D additive manufacturing processes development and materials research (2) Piezo type ink-jet head control and Opto-mechatronics integration technique of the photo-curable color 3D laminated manufacturing system. The proposed system is integrated with single Piezo type ink-jet head with two individual channels for two primary UV light curable color resins which can provide for future colorful 3D printing solutions. The main research results are 16 grey levels and grey resolution of 75 dpi.

Keywords: 3D printing, additive manufacturing, color, photo-curable, Piezo type ink-jet, UV Resin

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Authors: Peerawat Chailom, Pimgarn Suwan-Natada

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The objective of this study is to examine the effects of e-commerce integrated for export marketing strategy on export advantage and firm performance. This study indicates that e-commerce infrastructure, organizational learning for e-commerce, and internet dissemination were antecedent of e-commerce integrated for export marketing strategy. In additional, export expertise is moderating variable of the research. In this study, 151 export businesses in Thailand are the sample of study. The results of study indicate that e-commerce integrated for export marketing strategy has significant positive influences on export advantage and export performance. Moreover, e-commerce infrastructure, organizational learning for e-commerce, and internet dissemination are have positive effects on e-commerce integrated for export marketing strategy. For moderating effect, export expertise significant influences on the relationships between e-commerce integrated for export marketing strategy and export advantage, and significant influences on the relationships between e-commerce integrated for export marketing strategy and export performance. Theoretical and practical implications are presented. Conclusion and suggestions for future research are also discussed.

Keywords: e-commerce integrated for export marketing, e-commerce infrastructure, organizational learning for e-commerce, export performance

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Authors: M. N. A. Azman, M. S. S. Ahamad

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The Construction Industry Development Board of Malaysia has been actively promoting the use of precast manufacturing in the local construction industry over the last decade. In an era of rapid technological changes, precast manufacturing significantly contributes to improving construction activities and ensuring sustainable economic growth. Current studies on the location decision of precast manufacturing plants aimed to enhanced local economic development are scarce. To address this gap, the present research establishes a new set of spatial criteria, such as attribute maps and preference weights, derived from a survey of local industry decision makers. These data represent the input parameters for the MCE-GIS site selection model, for which the weighted linear combination method is used. Verification tests on the model were conducted to determine the potential precast manufacturing sites in the state of Penang, Malaysia. The tests yield a predicted area of 12.87 acres located within a designated industrial zone. Although, the model is developed specifically for precast manufacturing plant but nevertheless it can be employed to other types of industries by following the methodology and guidelines proposed in the present research.

Keywords: geographical information system, multi criteria evaluation, industrialised building system, civil engineering

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