Search results for: Chris D. Price
62 The Optimal Placement of Capacitor in Order to Reduce Losses and the Profile of Distribution Network Voltage with GA, SA
Authors: Limouzade E., Joorabian M.
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Most of the losses in a power system relate to the distribution sector which always has been considered. From the important factors which contribute to increase losses in the distribution system is the existence of radioactive flows. The most common way to compensate the radioactive power in the system is the power to use parallel capacitors. In addition to reducing the losses, the advantages of capacitor placement are the reduction of the losses in the release peak of network capacity and improving the voltage profile. The point which should be considered in capacitor placement is the optimal placement and specification of the amount of the capacitor in order to maximize the advantages of capacitor placement. In this paper, a new technique has been offered for the placement and the specification of the amount of the constant capacitors in the radius distribution network on the basis of Genetic Algorithm (GA). The existing optimal methods for capacitor placement are mostly including those which reduce the losses and voltage profile simultaneously. But the retaliation cost and load changes have not been considered as influential UN the target function .In this article, a holistic approach has been considered for the optimal response to this problem which includes all the parameters in the distribution network: The price of the phase voltage and load changes. So, a vast inquiry is required for all the possible responses. So, in this article, we use Genetic Algorithm (GA) as the most powerful method for optimal inquiry.Keywords: Genetic Algorithm (GA), capacitor placement, voltage profile, network losses, Simulating Annealing (SA), distribution network.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 153561 A New Model for Economic Optimization of Water Diversion System during Dam Construction using PSO Algorithm
Authors: Saeed Sedighizadeh, Abbas Mansoori, Mohammad Reza Pirestani, Davoud Sedighizadeh
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The usual method of river flow diversion involves construction of tunnels and cofferdams. Given the fact that the cost of diversion works could be as high as 10-20% of the total dam construction cost, due attention should be paid to optimum design of the diversion works. The cost of diversion works depends, on factors, such as: the tunnel dimensions and the intended tunneling support measures during and after excavation; quality and characterizes of the rock through which the tunnel should be excavated; the dimensions of the upstream (and downstream) cofferdams; and the magnitude of river flood the system is designed to divert. In this paper by use of the cost of unit prices for tunnel excavation, tunnel lining, tunnel support (rock bolt + shotcrete) and cofferdam fill the cost function was determined. The function is then minimized by the aid of PSO Algorithm (particle swarm optimization). It is found that the optimum diameter and the total diversion cost are directly related to the river flood discharge (Q). It has also shown that in addition to optimum diameter design discharge (Q), river length, tunnel length, is mainly a function of the ratios (not the absolute values) of the unit prices and does not depend on the overall price levels in the respective country. The results of optimization use in some of the case study lead us to significant changes in the cost.
Keywords: Diversion Tunnel, Optimization, PSO Algorithm
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 272960 Production Planning for Animal Food Industry under Demand Uncertainty
Authors: Pirom Thangchitpianpol, Suttipong Jumroonrut
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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, Production planning, Demand Uncertainty.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 191459 Deep Reinforcement Learning Approach for Trading Automation in the Stock Market
Authors: Taylan Kabbani, Ekrem Duman
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Deep Reinforcement Learning (DRL) algorithms can scale to previously intractable problems. The automation of profit generation in the stock market is possible using DRL, by combining the financial assets price ”prediction” step and the ”allocation” step of the portfolio in one unified process to produce fully autonomous systems capable of interacting with its environment to make optimal decisions through trial and error. This work represents a DRL model to generate profitable trades in the stock market, effectively overcoming the limitations of supervised learning approaches. We formulate the trading problem as a Partially observed Markov Decision Process (POMDP) model, considering the constraints imposed by the stock market, such as liquidity and transaction costs. We then solved the formulated POMDP problem using the Twin Delayed Deep Deterministic Policy Gradient (TD3) algorithm and achieved a 2.68 Sharpe ratio on the test dataset. From the point of view of stock market forecasting and the intelligent decision-making mechanism, this paper demonstrates the superiority of DRL in financial markets over other types of machine learning and proves its credibility and advantages of strategic decision-making.
Keywords: Autonomous agent, deep reinforcement learning, MDP, sentiment analysis, stock market, technical indicators, twin delayed deep deterministic policy gradient.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 52358 Statistical Analysis of Parameters Effects on Maximum Strain and Torsion Angle of FRP Honeycomb Sandwich Panels Subjected to Torsion
Authors: Mehdi Modabberifar, Milad Roodi, Ehsan Souri
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In recent years, honeycomb fiber reinforced plastic (FRP) sandwich panels have been increasingly used in various industries. Low weight, low price and high mechanical strength are the benefits of these structures. However, their mechanical properties and behavior have not been fully explored. The objective of this study is to conduct a combined numerical-statistical investigation of honeycomb FRP sandwich beams subject to torsion load. In this paper, the effect of geometric parameters of sandwich panel on maximum shear strain in both face and core and angle of torsion in a honeycomb FRP sandwich structures in torsion is investigated. The effect of Parameters including core thickness, face skin thickness, cell shape, cell size, and cell thickness on mechanical behavior of the structure were numerically investigated. Main effects of factors were considered in this paper and regression equations were derived. Taguchi method was employed as experimental design and an optimum parameter combination for the maximum structure stiffness has been obtained. The results showed that cell size and face skin thickness have the most significant impacts on torsion angle, maximum shear strain in face and core.Keywords: Finite element, honeycomb FRP sandwich panel, torsion, civil engineering.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 261857 Quality Determinants of Client Satisfaction: A Case Study of Australian Consulting Engineers, Sydney, Australia
Authors: Elham S. Hasham, Anthony S. Hasham
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The construction industry is one of Australia’s fastest growing industries and its success is a result of a firm’s client satisfaction with focus on product determinants such as price and quality. Ensuring quality at every phase is a must and building rapport with the client will go a long way. To capitalize on the growing demand for Engineering Consulting Firms (ECFs), it is imperative to stress the implication of customer satisfaction and excellence in standards and performance. Consequently, the emphasis should be on improving employee skills through various training provisions. Clients seek consistency and thus expect that all services should be similar in respect to quality and the ability of the service to meet their needs. This calls for empowerment and comfortable work conditions to motivate employees and give them incentive to deliver quality and excellent output. The methodology utilized is triangulation - a combination of both quantitative and qualitative research. The case study - Australian Consulting Engineers (ACE) - was established in Australia in 1995 and has operations throughout Australia, the Philippines, Europe, UAE, KSA, and with a branch in Lebanon. ACE is affiliated with key agencies and support organizations in the engineering industry with International Organization for Standardization (ISO) certifications in Safety and Quality Management. The objective of this study, conducted in Australia, is significant as it sheds light on employee motivation and client satisfaction as imperative determinants of the success of an organization.
Keywords: Organizational behaviour, leadership, satisfaction, motivation, quality service.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4356 Evaluating the Nexus between Energy Demand and Economic Growth Using the VECM Approach: Case Study of Nigeria, China, and the United States
Authors: Rita U. Onolemhemhen, Saheed L. Bello, Akin P. Iwayemi
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The effectiveness of energy demand policy depends on identifying the key drivers of energy demand both in the short-run and the long-run. This paper examines the influence of regional differences on the link between energy demand and other explanatory variables for Nigeria, China and USA using the Vector Error Correction Model (VECM) approach. This study employed annual time series data on energy consumption (ED), real gross domestic product (GDP) per capita (RGDP), real energy prices (P) and urbanization (N) for a thirty-six-year sample period. The utilized time-series data are sourced from World Bank’s World Development Indicators (WDI, 2016) and US Energy Information Administration (EIA). Results from the study, shows that all the independent variables (income, urbanization, and price) substantially affect the long-run energy consumption in Nigeria, USA and China, whereas, income has no significant effect on short-run energy demand in USA and Nigeria. In addition, the long-run effect of urbanization is relatively stronger in China. Urbanization is a key factor in energy demand, it therefore recommended that more attention should be given to the development of rural communities to reduce the inflow of migrants into urban communities which causes the increase in energy demand and energy excesses should be penalized while energy management should be incentivized.Keywords: Economic growth, energy demand, income, real GDP, urbanization, VECM.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 98755 Development of a Cost Effective Two Wheel Tractor Mounted Mobile Maize Sheller for Small Farmers in Bangladesh
Authors: M. Israil Hossain, T. P. Tiwari, Ashrafuzzaman Gulandaz, Nusrat Jahan
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Two-wheel tractor (power tiller) is a common tillage tool in Bangladesh agriculture for easy access in fragmented land with affordable price of small farmers. Traditional maize sheller needs to be carried from place to place by hooking with two-wheel tractor (2WT) and set up again for shelling operation which takes longer time for preparation of maize shelling. The mobile maize sheller eliminates the transportation problem and can start shelling operation instantly any place as it is attached together with 2WT. It is counterclockwise rotating cylinder, axial flow type sheller, and grain separated with a frictional force between spike tooth and concave. The maize sheller is attached with nuts and bolts in front of the engine base of 2WT. The operating power of the sheller comes from the fly wheel of the engine of the tractor through ‘V” belt pulley arrangement. The average shelling capacity of the mobile sheller is 2.0 t/hr, broken kernel 2.2%, and shelling efficiency 97%. The average maize shelling cost is Tk. 0.22/kg and traditional custom hire rate is Tk.1.0/kg, respectively (1 US$=Tk.78.0). The service provider of the 2WT can transport the mobile maize sheller long distance in operator’s seating position. The manufacturers started the fabrication of mobile maize sheller. This mobile maize sheller is also compatible for the other countries where 2WT is available for farming operation.
Keywords: Cost effective, mobile maize sheller, maize shelling capacity, small farmers, two-wheel tractor.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 90554 Identification of Social Responsibility Factors within Mega Construction Projects
Authors: Ali Alotaibi, Francis Edum-Fotwe, Andrew Price /
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Mega construction projects create buildings and major infrastructure to respond to work and life requirements while playing a vital role in promoting any nation’s economy. However, the industry is often criticised for not balancing economic, environmental and social dimensions of their projects, with emphasis typically on one aspect to the detriment of the others. This has resulted in many negative impacts including environmental pollution, waste throughout the project lifecycle, low productivity, and avoidable accidents. The identification of comprehensive Social Responsibility (SR) indicators, which combine social, environmental and economic aspects, is urgently needed. This is particularly the case in the context of the Kingdom of Saudi Arabia (KSA), which often has mega public construction projects. The aim of this paper is to develop a set of wide-ranging SR indicators which encompass social, economic and environmental aspects unique to the KSA. A qualitative approach was applied to explore relevant indicators through a review of the existing literature, international standards and reports. A list of appropriate indicators was developed, and its comprehensiveness was corroborated by interviews with experts on mega construction projects working with SR concepts in the KSA. The findings present 39 indicators and their metrics, covering 10 economic, 12 environmental and 17 social aspects of SR mapped against their references. These indicators are a valuable reference for decision-makers and academics in the KSA to understand factors related to SR in mega construction projects. The indicators are related to mega construction projects within the KSA and require validation in a real case scenario or within a different industry to demonstrate their generalisability.
Keywords: Social responsibility, construction projects, economic, social, environmental, indicators.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 184953 Biodiesel from Coconut Oil: A Renewable Alternative Fuel for Diesel Engine
Authors: Md A. Hossain, Shabab M. Chowdhury, Yamin Rekhu, Khandakar S. Faraz, Monzur Ul Islam
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With the growth of modern civilization and industrialization in worldwide, the demand for energy is increasing day by day. Majority of the world-s energy needs are met through fossil fuels and natural gas. As a result the amount of fossil fuels is on diminishing from year to year. Since the fossil fuel is nonrenewable, so fuel price is gouging as a consequence of spiraling demand and diminishing supply. At present the power generation of our country is mainly depends on imported fossil fuels. To reduce the dependency on imported fuel, the use of renewable sources has become more popular. In Bangladesh coconut is widely growing tree. Especially in the southern part of the country a large area will be found where coconut tree is considered as natural asset. So, our endeavor was to use the coconut oil as a renewable and alternative fuel. This article shows the prospect of coconut oil as a renewable and alternative fuel of diesel fuel. Since diesel engine has a versatile uses including small electricity generation, an experimental set up is then made to study the performance of a small diesel engine using different blends of bio diesel converted from coconut oil. It is found that bio diesel has slightly different properties than diesel. With biodiesel the engine is capable of running without difficulty. Different blends of bio diesel (i.e. B80, B60, and B 50 etc.) have been used to avoid complicated modification of the engine or the fuel supply system. Finally, a comparison of engine performance for different blends of biodiesel has been carried out to determine the optimum blend for different operating conditions.Keywords: Biodiesel, Bio-fuel, Renewable Energy, Transesterification
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 975752 The Effects of Distribution Channels on the Selling Prices of Hotels in Time of Crisis
Authors: Y. Yılmaz, C. Ünal, A. Dursun
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Distribution channels play significant role for hotels. Direct and indirect selling options of hotel rooms have been increased especially with the help of new technologies, i.e. hotel’s own web sites and online booking sites. Although these options emerged as tools for diversifying the distribution channels, vast number of hotels -mostly resort hotels- is still heavily dependent upon international tour operators when selling their products. On the other hand, hotel sector is so vulnerable against crises. Economic, political or any other crisis can affect hotels very badly and so it is critical to have the right balance of distribution channel to avoid the adverse impacts of a crisis. In this study, it is aimed to search the impacts of a general crisis on the selling prices of hotels which have different weights of distribution channels. The study was done in Turkey where various crises occurred in 2015 and 2016 which had great negative impacts on Turkish tourism and led enormous occupancy rate and selling price reductions. 112 upscale resort hotel in Antalya, which is the most popular tourism destination of Turkey, joined to the research. According to the results, hotels with high dependency to international tour operators are more forced to reduce their room prices in crisis time compared to the ones which use their own web sites more. It was also found that the decline in room prices is limited for hotels which are working with national tour operators and travel agencies in crisis time.
Keywords: Marketing channels, crisis, hotel, international tour operators, online travel agencies.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 87351 Consumer Behavior and Knowledge on Organic Products in Thailand
Authors: Warunpun Kongsom, Chaiwat Kongsom
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The objective of this study was to investigate the awareness, knowledge and consumer behavior towards organic products in Thailand. For this study, a purposive sampling technique was used to identify a sample group of 2,575 consumers over the age of 20 years who intended or made purchases from 1) green shops; 2) supermarkets with branches; and, 3) green markets. A questionnaire was used for data collection across the country. Descriptive statistics were used for data analysis. The results showed that more than 92% of consumers were aware of organic agriculture, but had less knowledge about it. More than 60% of consumers knew that organic agriculture production and processing did not allow the use of chemicals. And about 40% of consumers were confused between the food safety logo and the certified organic logo, and whether GMO was allowed in organic agriculture practice or not. In addition, most consumers perceived that organic agricultural products, good agricultural practice (GAP) products, agricultural chemicals free products, and hydroponic vegetable products had the same standard. In the view of organic consumers, the organic Thailand label was the most seen and reliable among various organic labels. Less than 3% of consumers thought that the International Federation of Organic Agriculture Movements (IFOAM) Global Organic Mark (GOM) was the most seen and reliable. For the behaviors of organic consumers, they purchased organic products mainly at the supermarket and green shop (55.4%), one to two times per month, and with a total expenditure of about 200 to 400 baht each time. The main reason for buying organic products was safety and free from agricultural chemicals. The considered factors in organic product selection were price (29.5%), convenience (22.4%), and a reliable certification system (21.3%). The demands for organic products were mainly rice, vegetables and fruits. Processed organic products were relatively small in quantity.Keywords: Consumer behavior, consumer knowledge, organic products, Thailand.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 313250 Effect of Peak-to-Average Power Ratio Reduction on the Multicarrier Communication System Performance Parameters
Authors: Sanjay Singh, M Sathish Kumar, H. S Mruthyunjaya
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Multicarrier transmission system such as Orthogonal Frequency Division Multiplexing (OFDM) is a promising technique for high bit rate transmission in wireless communication system. OFDM is a spectrally efficient modulation technique that can achieve high speed data transmission over multipath fading channels without the need for powerful equalization techniques. However the price paid for this high spectral efficiency and less intensive equalization is low power efficiency. OFDM signals are very sensitive to nonlinear effects due to the high Peak-to-Average Power Ratio (PAPR), which leads to the power inefficiency in the RF section of the transmitter. This paper investigates the effect of PAPR reduction on the performance parameter of multicarrier communication system. Performance parameters considered are power consumption of Power Amplifier (PA) and Digital-to-Analog Converter (DAC), power amplifier efficiency, SNR of DAC and BER performance of the system. From our analysis it is found that irrespective of PAPR reduction technique being employed, the power consumption of PA and DAC reduces and power amplifier efficiency increases due to reduction in PAPR. Moreover, it has been shown that for a given BER performance the requirement of Input-Backoff (IBO) reduces with reduction in PAPR.Keywords: BER, Crest Factor (CF), Digital-to-Analog Converter(DAC), Input-Backoff (IBO), Orthogonal Frequency Division Multiplexing(OFDM), Peak-to-Average Power Ratio (PAPR), PowerAmplifier efficiency, SNR
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 328549 Smart Power Scheduling to Reduce Peak Demand and Cost of Energy in Smart Grid
Authors: Hemant I. Joshi, Vivek J. Pandya
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This paper discusses the simulation and experimental work of small Smart Grid containing ten consumers. Smart Grid is characterized by a two-way flow of real-time information and energy. RTP (Real Time Pricing) based tariff is implemented in this work to reduce peak demand, PAR (peak to average ratio) and cost of energy consumed. In the experimental work described here, working of Smart Plug, HEC (Home Energy Controller), HAN (Home Area Network) and communication link between consumers and utility server are explained. Algorithms for Smart Plug, HEC, and utility server are presented and explained in this work. After receiving the Real Time Price for different time slots of the day, HEC interacts automatically by running an algorithm which is based on Linear Programming Problem (LPP) method to find the optimal energy consumption schedule. Algorithm made for utility server can handle more than one off-peak time period during the day. Simulation and experimental work are carried out for different cases. At the end of this work, comparison between simulation results and experimental results are presented to show the effectiveness of the minimization method adopted.
Keywords: Smart Grid, Real Time Pricing, Peak to Average Ratio, Home Area Network, Home Energy Controller, Smart Plug, Utility Server, Linear Programming Problem.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 168448 Estimation of Time Loss and Costs of Traffic Congestion: The Contingent Valuation Method
Authors: Amira Mabrouk, Chokri Abdennadher
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The reduction of road congestion which is inherent to the use of vehicles is an obvious priority to public authority. Therefore, assessing the willingness to pay of an individual in order to save trip-time is akin to estimating the change in price which was the result of setting up a new transport policy to increase the networks fluidity and improving the level of social welfare. This study holds an innovative perspective. In fact, it initiates an economic calculation that has the objective of giving an estimation of the monetized time value during the trips made in Sfax. This research is founded on a double-objective approach. The aim of this study is to i) give an estimation of the monetized value of time; an hour dedicated to trips, ii) determine whether or not the consumer considers the environmental variables to be significant, iii) analyze the impact of applying a public management of the congestion via imposing taxation of city tolls on urban dwellers. This article is built upon a rich field survey led in the city of Sfax. With the use of the contingent valuation method, we analyze the “declared time preferences” of 450 drivers during rush hours. Based on the fond consideration of attributed bias of the applied method, we bring to light the delicacy of this approach with regards to the revelation mode and the interrogative techniques by following the NOAA panel recommendations bearing the exception of the valorization point and other similar studies about the estimation of transportation externality.Keywords: Willingness to pay, value of time, contingent valuation, time value, city toll, transport.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 229847 Non-Burn Treatment of Health Care Risk Waste
Authors: Jefrey Pilusa, Tumisang Seodigeng
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This research discusses a South African case study for the potential of utilizing refuse-derived fuel (RDF) obtained from non-burn treatment of health care risk waste (HCRW) as potential feedstock for green energy production. This specific waste stream can be destroyed via non-burn treatment technology involving high-speed mechanical shredding followed by steam or chemical injection to disinfect the final product. The RDF obtained from this process is characterised by a low moisture, low ash, and high calorific value which means it can be potentially used as high-value solid fuel. Due to the raw feed of this RDF being classified as hazardous, the final RDF has been reported to be non-infectious and can blend with other combustible wastes such as rubber and plastic for waste to energy applications. This study evaluated non-burn treatment technology as a possible solution for on-site destruction of HCRW in South African private and public health care centres. Waste generation quantities were estimated based on the number of registered patient beds, theoretical bed occupancy. Time and motion study was conducted to evaluate the logistics viability of on-site treatment. Non-burn treatment technology for HCRW is a promising option for South Africa, and successful implementation of this method depends upon the initial capital investment, operational cost and environmental permitting of such technology; there are other influencing factors such as the size of the waste stream, product off-take price as well as product demand.
Keywords: Autoclave, disposal, fuel, incineration, medical waste.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 116346 Hybrid Equity Warrants Pricing Formulation under Stochastic Dynamics
Authors: Teh Raihana Nazirah Roslan, Siti Zulaiha Ibrahim, Sharmila Karim
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A warrant is a financial contract that confers the right but not the obligation, to buy or sell a security at a certain price before expiration. The standard procedure to value equity warrants using call option pricing models such as the Black–Scholes model had been proven to contain many flaws, such as the assumption of constant interest rate and constant volatility. In fact, existing alternative models were found focusing more on demonstrating techniques for pricing, rather than empirical testing. Therefore, a mathematical model for pricing and analyzing equity warrants which comprises stochastic interest rate and stochastic volatility is essential to incorporate the dynamic relationships between the identified variables and illustrate the real market. Here, the aim is to develop dynamic pricing formulations for hybrid equity warrants by incorporating stochastic interest rates from the Cox-Ingersoll-Ross (CIR) model, along with stochastic volatility from the Heston model. The development of the model involves the derivations of stochastic differential equations that govern the model dynamics. The resulting equations which involve Cauchy problem and heat equations are then solved using partial differential equation approaches. The analytical pricing formulas obtained in this study comply with the form of analytical expressions embedded in the Black-Scholes model and other existing pricing models for equity warrants. This facilitates the practicality of this proposed formula for comparison purposes and further empirical study.
Keywords: Cox-Ingersoll-Ross model, equity warrants, Heston model, hybrid models, stochastic.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 58345 Studying the Value-Added Chain for the Fish Distribution Process at Quang Binh Fishing Port in Vietnam
Authors: Van Chung Nguyen
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The purpose of this research is to study the current status of the value chain for fish distribution at Quang Binh Fishing Port with 360 research samples, in which the research subjects are fishermen, traders, retailers, and businesses. The research uses the approach of applying the value chain theoretical framework of Kaplinsky and Morris to quantify and describe market channels and actors participating in the value chain and analyze the value-added process of these companies according to market channels. The analysis results show that fishermen directly catch fish with high economic efficiency, but processing enterprises and, especially retailers, are the agents to obtain higher added value. Processing enterprises play a role that is not really clear due to outdated processing technology; in contrast, retailers have the highest added value. This shows that the added value of the fish supply chain at Quang Binh fishing port is still limited, leading to low output quality. Therefore, the selling price of fish to the market is still high compared to the abundant fish resources, leading to low consumption and limiting exports due to the quality of processing enterprises. This reduces demand and fishing capacity, and productivity is lower than potential. To improve the fish value chain at fishing ports, it is necessary to focus on improving product quality, strengthening linkages between actors, building brands and product consumption markets at the same time, improving the capacity of export processing enterprises.
Keywords: Quang Binh fishing port, value chain, fish market, distributions channel.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 7244 Dynamic Threshold Adjustment Approach For Neural Networks
Authors: Hamza A. Ali, Waleed A. J. Rasheed
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The use of neural networks for recognition application is generally constrained by their inherent parameters inflexibility after the training phase. This means no adaptation is accommodated for input variations that have any influence on the network parameters. Attempts were made in this work to design a neural network that includes an additional mechanism that adjusts the threshold values according to the input pattern variations. The new approach is based on splitting the whole network into two subnets; main traditional net and a supportive net. The first deals with the required output of trained patterns with predefined settings, while the second tolerates output generation dynamically with tuning capability for any newly applied input. This tuning comes in the form of an adjustment to the threshold values. Two levels of supportive net were studied; one implements an extended additional layer with adjustable neuronal threshold setting mechanism, while the second implements an auxiliary net with traditional architecture performs dynamic adjustment to the threshold value of the main net that is constructed in dual-layer architecture. Experiment results and analysis of the proposed designs have given quite satisfactory conducts. The supportive layer approach achieved over 90% recognition rate, while the multiple network technique shows more effective and acceptable level of recognition. However, this is achieved at the price of network complexity and computation time. Recognition generalization may be also improved by accommodating capabilities involving all the innate structures in conjugation with Intelligence abilities with the needs of further advanced learning phases.
Keywords: Classification, Recognition, Neural Networks, Pattern Recognition, Generalization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 162543 Waste-Based Surface Modification to Enhance Corrosion Resistance of Aluminium Bronze Alloy
Authors: Wilson Handoko, Farshid Pahlevani, Isha Singla, Himanish Kumar, Veena Sahajwalla
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Aluminium bronze alloys are well known for their superior abrasion, tensile strength and non-magnetic properties, due to the co-presence of iron (Fe) and aluminium (Al) as alloying elements and have been commonly used in many industrial applications. However, continuous exposure to the marine environment will accelerate the risk of a tendency to Al bronze alloys parts failures. Although a higher level of corrosion resistance properties can be achieved by modifying its elemental composition, it will come at a price through the complex manufacturing process and increases the risk of reducing the ductility of Al bronze alloy. In this research, the use of ironmaking slag and waste plastic as the input source for surface modification of Al bronze alloy was implemented. Microstructural analysis conducted using polarised light microscopy and scanning electron microscopy (SEM) that is equipped with energy dispersive spectroscopy (EDS). An electrochemical corrosion test was carried out through Tafel polarisation method and calculation of protection efficiency against the base-material was determined. Results have indicated that uniform modified surface which is as the result of selective diffusion process, has enhanced corrosion resistance properties up to 12.67%. This approach has opened a new opportunity to access various industrial utilisations in commercial scale through minimising the dependency on natural resources by transforming waste sources into the protective coating in environmentally friendly and cost-effective ways.
Keywords: Aluminium bronze, waste-based surface modification, Tafel polarisation, corrosion resistance.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 105242 Cost Valuation Method for Development Concurrent Phase Appropriate Requirement Valuation Using the Example of Load Carrier Development in the Lithium-Ion-Battery Production
Authors: Achim Kampker, Christoph Deutskens, Heiner Hans Heimes, Mathias Ordung, Felix Optehostert
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In the past years electric mobility became part of a public discussion. The trend to fully electrified vehicles instead of vehicles fueled with fossil energy has notably gained momentum. Today nearly every big car manufacturer produces and sells fully electrified vehicles, but electrified vehicles are still not as competitive as conventional powered vehicles. As the traction battery states the largest cost driver, lowering its price is a crucial objective. In addition to improvements in product and production processes a nonnegligible, but widely underestimated cost driver of production can be found in logistics, since the production technology is not continuous yet and neither are the logistics systems. This paper presents an approach to evaluate cost factors on different designs of load carrier systems. Due to numerous interdependencies, the combination of costs factors for a particular scenario is not transparent. This is effecting actions for cost reduction negatively, but still cost reduction is one of the major goals for simultaneous engineering processes. Therefore a concurrent and phase appropriate cost valuation method is necessary to serve cost transparency. In this paper the four phases of this cost valuation method are defined and explained, which based upon a new approach integrating the logistics development process in to the integrated product and process development.Keywords: Research and development, technology and Innovation, lithium-ion-battery production, load carrier development process, cost valuation method.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 227641 How to Win Passengers and Influence Motorists? Lessons Learned from a Comparative Study of Global Transit Systems
Authors: Oliver F. Shyr, Yu-Hsuan Hsiao, David E. Andersson
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Due to the call of global warming effects, city planners aim at actions for reducing carbon emission. One of the approaches is to promote the usage of public transportation system toward the transit-oriented-development. For example, rapid transit system in Taipei city and Kaohsiung city are opening. However, until November 2008 the average daily patronage counted only 113,774 passengers at Kaohsiung MRT systems, much less than which was expected. Now the crucial questions: how the public transport competes with private transport? And more importantly, what factors would enhance the use of public transport? To give the answers to those questions, our study first applied regression to analyze the factors attracting people to use public transport around cities in the world. It is shown in our study that the number of MRT stations, city population, cost of living, transit fare, density, gasoline price, and scooter being a major mode of transport are the major factors. Subsequently, our study identified successful and unsuccessful cities in regard of the public transport usage based on the diagnosis of regression residuals. Finally, by comparing transportation strategies adopted by those successful cities, our conclusion stated that Kaohsiung City could apply strategies such as increasing parking fees, reducing parking spaces in downtown area, and reducing transfer time by providing more bus services and public bikes to promote the usage of public transport.
Keywords: Public Transit System, Comparative Study, Transport Demand Management, Regression
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 209040 Assessment of Negative Impacts Affecting Public Transportation Modes and Infrastructure in Burgersfort Town towards Building Urban Sustainability
Authors: Ntloana Hlabishi Peter
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The availability of public transportation modes and qualitative infrastructure is a burning issue that affects urban sustainability. Public transportation is indispensable in providing adequate transportation means to people at an affordable price, and it promotes public transport reliance. Burgersfort town has a critical condition on the urban public transportation infrastructure which affects the bus and taxi public transport modes and the existing infrastructure. The municipality is regarded as one of the mining towns in Limpopo Province considering the availability of mining activities and proposal on establishment of a Special Economic Zone (SEZ). The study aim is to assess the efficacy of current public transportation infrastructure and to propose relevant recommendations that will unlock the possibility of future supportable public transportation systems. The Key Informant Interview (KII) was used to acquire data on the views from commuters and stakeholders involved. There KII incorporated three relevant questions in relation to services rendered in public transportation. Relevant literature relating to public transportation modes and infrastructure revealed the imperatives of public transportation infrastructure, and relevant legislation was reviewed concerning public transport infrastructure. The finding revealed poor conditions on the public transportation ranks and also inadequate parking space for public transportation modes. The study reveals that 100% of people interviewed were not satisfied with the condition of public transportation infrastructure and 100% are not satisfied with the services offered by public transportation sectors. The findings revealed that the municipality is the main player who can upgrade the existing conditions of public transportation. The study recommended that an intermodal transportation facility must be established to resolve the emerging challenges.
Keywords: Public transportation, modes, infrastructure, urban sustainability.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 69739 Climate Safe House: A Community Housing Project Tackling Catastrophic Sea Level Rise in Coastal Communities
Authors: Chris Fersterer, Col Fay, Tobias Danielmeier, Kat Achterberg, Scott Willis
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New Zealand, an island nation, has an extensive coastline peppered with small communities of iconic buildings known as Bachs. Post WWII, these modest buildings were constructed by their owners as retreats and generally were small, low cost, often using recycled material and often they fell below current acceptable building standards. In the latter part of the 20th century, real estate prices in many of these communities remained low and these areas became permanent residences for people attracted to this affordable lifestyle choice. The Blueskin Resilient Communities Trust (BRCT) is an organisation that recognises the vulnerability of communities in low lying settlements as now being prone to increased flood threat brought about by climate change and sea level rise. Some of the inhabitants of Blueskin Bay, Otago, NZ have already found their properties to be un-insurable because of increased frequency of flood events and property values have slumped accordingly. Territorial authorities also acknowledge this increased risk and have created additional compliance measures for new buildings that are less than 2 m above tidal peaks. Community resilience becomes an additional concern where inhabitants are attracted to a lifestyle associated with a specific location and its people when this lifestyle is unable to be met in a suburban or city context. Traditional models of social housing fail to provide the sense of community connectedness and identity enjoyed by the current residents of Blueskin Bay. BRCT have partnered with the Otago Polytechnic Design School to design a new form of community housing that can react to this environmental change. It is a longitudinal project incorporating participatory approaches as a means of getting people ‘on board’, to understand complex systems and co-develop solutions. In the first period, they are seeking industry support and funding to develop a transportable and fully self-contained housing model that exploits current technologies. BRCT also hope that the building will become an educational tool to highlight climate change issues facing us today. This paper uses the Climate Safe House (CSH) as a case study for education in architectural sustainability through experiential learning offered as part of the Otago Polytechnics Bachelor of Design. Students engage with the project with research methodologies, including site surveys, resident interviews, data sourced from government agencies and physical modelling. The process involves collaboration across design disciplines including product and interior design but also includes connections with industry, both within the education institution and stakeholder industries introduced through BRCT. This project offers a rich learning environment where students become engaged through project based learning within a community of practice, including architecture, construction, energy and other related fields. The design outcomes are expressed in a series of public exhibitions and forums where community input is sought in a truly participatory process.Keywords: Community resilience, problem based learning, project based learning, case study.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 96638 Agritourism Potentials in Oman: An Overview with Visionary for Adoption
Authors: A. Al Hinai, H. Jayasuriya, H. Kotagama
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Most Gulf Cooperation Council (GCC) countries with oil-based economy like Oman are looking for other potential revenue generation options as the crude oil price is regularly fluctuating due to changing geopolitical environment. Oman has advantage of possessing world-heritage nature tourism hotspots around the country and the government is making investments and strategies to uplift the tourism industry following Oman Vision 2040 strategies. Oman’s agriculture is not significantly contributing to the economy, but possesses specific and diversified arid cropping systems. Oman has modern farms; nevertheless some of the agricultural production activities are done with cultural practices and styles that would be attractive to tourists. The aim of this paper is to investigate the potentials for promoting agritourism industry in Oman; recognize potential sites, commodities and activities, and predict potential revenue generation as a projection from that of the tourism sector. Moreover, the study enables to foresee possible auxiliary advantages of agritourism such as, empowerment of women and youth, enhancement in the value-addition industry for agricultural produce through technology transfer and capacity building, and producing export quality products. Agritourism could increase employability, empowerment of women and youth, improve value-addition industry and export-oriented agribusiness. These efforts including provision of necessary technology-transfer and capacity-building should be rendered by the collaboration of academic institutions, relevant ministries and other public and private sector stakeholders.Keywords: Agritourism, nature-based tourism, potentials, revenue generation, value addition.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 61337 Possible Number of Dwelling Units Using Waste Plastic Bottle for Construction
Authors: Dibya Jivan Pati, Kazuhisa Iki, Riken Homma
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Unlike other metro cities of India, Bhubaneswar–the capital city of Odisha, is expected to reach 1-million-mark population by now. The demands of dwelling unit requirement mostly among urban poor belonging to Economically Weaker section (EWS) and Low Income groups (LIG) is becoming a challenge due to high housing cost and rents. As a matter of fact, it’s also noted that, with increase in population, the solid waste generation also increases subsequently affecting the environment due to inefficiency in collection of waste by local government bodies. Methods of utilizing Solid Waste - especially in form of Plastic bottles, Glass bottles and Metal cans (PGM) are now widely used as an alternative material for construction of low-cost building by Non-Government Organizations (NGOs) in developing countries like India to help the urban poor afford a shelter. The application of disposed plastic bottle used in construction of single dwelling significantly reduces the overall cost of construction to as much as 14% compared to traditional construction material. Therefore, considering its cost-benefit result, it’s possible to provide housing to EWS and LIGs at an affordable price. In this paper, we estimated the quantity of plastic bottles generated in Bhubaneswar which further helped to estimate the possible number of single dwelling unit that can be constructed on yearly basis so as to refrain from further housing shortage. The estimation results will be practically used for planning and managing low-cost housing business by local government and NGOs.Keywords: Construction, dwelling unit, plastic bottle, solid waste generation, groups.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 108336 Minimizing Grid Reliance: A Power Model Approach for Peak Hour Demand Based on Hybrid Solar Systems
Authors: Almutasim Billa A. Alanazi, Hal S. Tharp
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Electrical energy demands have increased due to population growth and the variety of new electrical load technologies. This increase demand has nearly doubled during peak hours. Consequently, that necessitates the construction of new power plant infrastructures, which is a costly approach due to the expense of construction building, future preservation like maintenance, and environmental impact. As an alternative approach, most electrical utilities increase the price of electrical usage during peak hours, encouraging consumers to use less electricity during peak periods under Time-Of-Use programs, which may not be universally suitable for all consumers. Furthermore, in some areas, the excessive demand and the lack of supply cause an electrical outage, posing considerable stress and challenges to electrical utilities and consumers. However, control systems, artificial intelligence (AI), and renewable energy (RE), when effectively integrated, provide new solutions to mitigate excessive demand during peak hours. This paper presents a power model that reduces the reliance on the power grid during peak hours by utilizing a hybrid solar system connected to a residential house with a power management controller, that prioritizes the power drives between Photovoltaic (PV) production, battery backup, and the utility electrical grid. As a result, dependence on utility grid was from 3% to 18% during peak hours, improving energy stability safely and efficiently for electrical utilities, consumers, and communities, providing a viable alternative to conventional approaches such as Time-Of-Use programs.
Keywords: Artificial intelligence, AI, control system, photovoltaic, PV, renewable energy.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12635 Analysis of Cost Estimation and Payment Systems for Consultant Contracts in the US, Japan, China and the UK
Authors: Shih-Hsu Wang, Yuan-Yuan Cheng, Ming-Tsung Lee, Wei-Chih Wang
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Determining reasonable fees is the main objective of designing the cost estimation and payment systems for consultant contracts. However, project clients utilize different cost estimation and payment systems because of their varying views on the reasonableness of consultant fees. This study reviews the cost estimation and payment systems of consultant contracts for five countries, including the US (Washington State Department of Transportation), Japan (Ministry of Land, Infrastructure, Transport and Tourism), China (Engineering Design Charging Standard) and UK (Her Majesty's Treasure). Specifically, this work investigates the budgeting process, contractor selection method, contractual price negotiation process, cost review, and cost-control concept of the systems used in these countries. The main finding indicates that that project client-s view on whether the fee is high will affect the way he controls it. In the US, the fee is commonly considered to be high. As a result, stringent auditing system (low flexibility given to the consultant) is then applied. In the UK, the fee is viewed to be low by comparing it to the total life-cycle project cost. Thus, a system that has high flexibility in budgeting and cost reviewing is given to the consultant. In terms of the flexibility allowed for the consultant, the systems applied in Japan and China fall between those of the US and UK. Both the US and UK systems are helpful in determining a reasonable fee. However, in the US system, rigid auditing standards must be established and additional cost-audit manpower is required. In the UK system, sufficient historical cost data should be needed to evaluate the reasonableness of the consultant-s proposed fee
Keywords: Consultant Services, Cost Estimation and Payment System, Payment Flexibility, Cost-control Concept
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 168534 Improvement of Overall Equipment Effectiveness through Total Productive Maintenance
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Frequent machine breakdowns, low plant availability and increased overtime are a great threat to a manufacturing plant as they increase operating costs of an industry. The main aim of this study was to improve Overall Equipment Effectiveness (OEE) at a manufacturing company through the implementation of innovative maintenance strategies. A case study approach was used. The paper focuses on improving the maintenance in a manufacturing set up using an innovative maintenance regime mix to improve overall equipment effectiveness. Interviews, reviewing documentation and historical records, direct and participatory observation were used as data collection methods during the research. Usually production is based on the total kilowatt of motors produced per day. The target kilowatt at 91% availability is 75 Kilowatts a day. Reduced demand and lack of raw materials particularly imported items are adversely affecting the manufacturing operations. The company had to reset its targets from the usual figure of 250 Kilowatt per day to mere 75 per day due to lower availability of machines as result of breakdowns as well as lack of raw materials. The price reductions and uncertainties as well as general machine breakdowns further lowered production. Some recommendations were given. For instance, employee empowerment in the company will enhance responsibility and authority to improve and totally eliminate the six big losses. If the maintenance department is to realise its proper function in a progressive, innovative industrial society, then its personnel must be continuously trained to meet current needs as well as future requirements. To make the maintenance planning system effective, it is essential to keep track of all the corrective maintenance jobs and preventive maintenance inspections. For large processing plants these cannot be handled manually. It was therefore recommended that the company implement (Computerised Maintenance Management System) CMMS.
Keywords: Maintenance, Manufacturing, Overall Equipment Effectiveness
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 398533 Evaluation of Market Limitations in the Case of Ecosystem Services
Authors: Giani Gradinaru
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Biodiversity crisis is one of the many crises that started at the turn of the millennia. Concrete form of expression is still disputed, but there is a relatively high consensus regarding the high rate of degradation and the urgent need for action. The strategy of action outlines a strong economic component, together with the recognition of market mechanisms as the most effective policies to protect biodiversity. In this context, biodiversity and ecosystem services are natural assets that play a key role in economic strategies and technological development to promote development and prosperity. Developing and strengthening policies for transition to an economy based on efficient use of resources is the way forward. To emphasize the co-viability specific to the connection economyecosystem services, scientific approach aimed on one hand how to implement policies for nature conservation and on the other hand, the concepts underlying the economic expression of ecosystem services- value, in the context of current technology. Following the analysis of business opportunities associated with changes in ecosystem services was concluded that development of market mechanisms for nature conservation is a trend that is increasingly stronger individualized within recent years. Although there are still many controversial issues that have already given rise to an obvious bias, international organizations and national governments have initiated and implemented in cooperation or independently such mechanisms. Consequently, they created the conditions for convergence between private interests and social interests of nature conservation, so there are opportunities for ongoing business development which leads, among other things, the positive effects on biodiversity. Finally, points out that markets fail to quantify the value of most ecosystem services. Existing price signals reflect at best, only a proportion of the total amount corresponding provision of food, water or fuel.Keywords: ecosystem services, economic evaluation, nature conservation
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1552