Search results for: Price Manipulation

Authors: S.R.Kamat, A.Yoxall, C.Craig , M.J.Carré, J.Rowson

Abstract:

The hand is one of the essential parts of the body for carrying out Activities of Daily Living (ADLs). Individuals use their hands and fingers in everyday activities in the both the workplace and home. Hand-intensive tasks require diverse and sometimes extreme levels of exertion, depending on the action, movement or manipulation involved. The authors have undertaken several studies looking at grip choice and comfort. It is hoped that in providing improved understanding of discomfort during ADLs this will aid in the design of consumer products. Previous work by the authors outlined a methodology for calculating pain frequency and pain level for a range of tasks. From an online survey undertaken by the authors with regards manipulating objects during everyday tasks, tasks involving gripping were seen to produce the highest levels of pain and discomfort. Questioning of the participants showed that cleaning tasks were seen to be ADL's that produced the highest levels of discomfort, with women feeling higher levels of discomfort than men. This paper looks at the methodology for calculating pain frequency and pain level with particular regards to gripping activities. This methodology shows that activities such as mopping, sweeping and hoovering shows the highest numbers of pain frequency and pain level at 3112.5 frequency per month while the pain level per person doing this action was 0.78.The study then uses thin-film force sensors to analyze the force distribution in the hand whilst hoovering and compares this for differing grip styles and genders. Women were seen to have more of their hand under a higher pressure than men when undertaking hoovering. This suggests that women may feel greater discomfort than men since their hand is at a higher pressure more of the time.

Keywords: hovering, grip, pain

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1475

Authors: Sherine Beshara, Khaled S. El-Kilany, Noha M. Galal

Abstract:

Supply chain management has become more challenging with the emerging trend of globalization and sustainability. Lately, research related to perishable products supply chains, in particular agricultural food products, has emerged. This is attributed to the additional complexity of managing this type of supply chains with the recently increased concern of public health, food quality, food safety, demand and price variability, and the limited lifetime of these products. Inventory management for agrifood supply chains is of vital importance due to the product perishability and customers- strive for quality. This paper concentrates on developing a simulation model of a real life case study of a two echelon production-distribution system for agri-food products. The objective is to improve a set of performance measures by developing a simulation model that helps in evaluating and analysing the performance of these supply chains. Simulation results showed that it can help in improving overall system performance.

Keywords: Agri-food supply chains, inventory model, modelling and Simulation, supply chain.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3359

Authors: Michael J. Hamlin, Mick Grimley, Vicki Cowley, Chris D. Price, Jill M. Hargreaves, Jenny J. Ross

Abstract:

The aim of this study was to examine current levels of physical activity determined via heart rate monitoring. A total of 176 children (85 boys, 91 girls) aged 5-13 years wore sealed Polar heart rate monitors for at least 10 hours per day on at least 3 days. Mean daily minutes of moderate to vigorous-intensity physical activity was 65 ± 43 (mean ± SD) for boys and 54 ± 37 for girls. Daily minutes of vigorous-intensity activity was 31 ± 24 and 24 ± 21 for boys and girls respectively. Significant differences in physical activity levels were observed between school day and weekends, boys and girls, and among age and geographical groups. Only 36% of boys and 22% of girls met the New Zealand physical activity guideline. This research indicates that a large proportion of New Zealand children are not meeting physical activity recommendations.

Keywords: activity guidelines, moderate activity, sedentary, vigorous activity

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1399

Authors: Katleho Daniel Makatjane, Diteboho Lawrence Xaba, Ntebogang Dinah Moroke

Abstract:

The current study investigates the behaviour of time-varying parameters that are based on the score function of the predictive model density at time t. The mechanism to update the parameters over time is the scaled score of the likelihood function. The results revealed that there is high persistence of time-varying, as the location parameter is higher and the skewness parameter implied the departure of scale parameter from the normality with the unconditional parameter as 1.5. The results also revealed that there is a perseverance of the leptokurtic behaviour in stock returns which implies the returns are heavily tailed. Prior to model estimation, the White Neural Network test exposed that the stock price can be modelled by a GAS model. Finally, we proposed further researches specifically to model the existence of time-varying parameters with a more detailed model that encounters the heavy tail distribution of the series and computes the risk measure associated with the returns.

Keywords: Generalized autoregressive score model, stock returns, time-varying.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1034

Authors: Atefeh Pourshafie, Mohsen. Saniei, S. S. Mortazavi, A. Saeedian

Abstract:

In this paper optimal capacitor placement problem has been formulated in a restructured distribution network. In this scenario the distribution network operator can consider reactive energy also as a service that can be sold to transmission system. Thus search for optimal location, size and number of capacitor banks with the objective of loss reduction, maximum income from selling reactive energy to transmission system and return on investment for capacitors, has been performed. Results is influenced with economic value of reactive energy, therefore problem has been solved for various amounts of it. The implemented optimization technique is genetic algorithm. For any value of reactive power economic value, when reverse of investment index increase and change from zero or negative values to positive values, the threshold value of selling reactive power has been obtained. This increasing price of economic parameter is reasonable until the network losses is less than loss before compensation.

Keywords: capacitor placement, deregulated electric market, distribution network optimization.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2123

Authors: Chen-Yin Kuo

Abstract:

This paper fist examines three set of bivariate cointegrations between any two of current accounts, stock markets, and currency exchange markets in ten Asian countries. Furthermore, we examined the effect of country characters on this bivariate cointegration. Our findings suggest that for three sets of cointegration test, each sample country at least exists one cointegration. India consistently exhibited a bi-directional causal relationship between any two of three indicators. Unlike Pan et al. (2007) and Phylaktis and Ravazzolo (2005), we found that such cointegration is influenced by three characteristics: capital control; flexibility in foreign exchange rates; and the ratio of trade to GDP. These characteristics are the result of liberalization in each Asian country. This implies that liberalization policies are effective on improving the cointegration between any two of financial markets and current account for ten Asian countries.

Keywords: Current account, stock price, foreign exchange rate, country characteristics, bivariate cointegration, bi-directional causal relationships.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1471

Authors: K. Matušínská, H. Starzyczná, M. Stoklasa

Abstract:

The paper deals with behaviour of the segment 50+ in the financial market in the Czech Republic. This segment could be said as the strong market power and it can be a crucial business potential for financial business units. The main defined objective of this paper is analysis of the customers´ behaviour of the segment 50- 60 years in the financial market in the Czech Republic and proposal making of the suitable marketing approach to satisfy their demands in the area of product, price, distribution and marketing communication policy. This paper is based on data from one part of primary marketing research. Paper determinates the basic problem areas as well as definition of financial services marketing, defining the primary research problem, hypothesis and primary research methodology. Finally suitable marketing approach to selected sub segment at age of 50-60 years is proposed according to marketing research findings.

Keywords: Population aging in the Czech Republic, Segment 50-60 years, Financial services marketing, Marketing research, Marketing approach.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2046

Authors: F. Gökgöz, M. E. Atmaca

Abstract:

Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: Electricity market, portfolio optimization, risk management in electricity market, Sharpe ratio.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1485

Authors: Piotr Prewysz-Kwinto

Abstract:

A dynamic development of financial market is accompanied by the emergence of new products on stock exchanges which give absolutely new possibilities of investing money. Currently, the most innovative financial instruments offered to investors are exchange traded products (ETP). They can be defined as financial instruments whose price depends on the value of the underlying instrument. Thus, they offer investors a possibility of making a profit that results from the change in value of the underlying instrument without having to buy it. Currently, the Warsaw Stock Exchange offers many types of ETPs. They are investment products with full or partial capital protection, products without capital protection as well as leverage products, issued on such underlying instruments as indices, sector indices, commodity indices, prices of energy commodities, precious metals, agricultural produce or prices of shares of domestic and foreign companies. This paper presents the mechanism of functioning of ETP available on the Warsaw Stock Exchange and the results of the analysis of statistical data on these financial instruments.

Keywords: Exchange traded products, financial market, investment, stock exchange.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1175

Authors: Bundit Pungnirund

Abstract:

This research aimed to investigate the relationship between attitude towards marketing mix, brand image and consumer behavior of the passengers of low-cost airlines service. This study employed by quantitative research and the questionnaire was used to collect the data from 400 sampled of the passengers who have ever used the low-cost airline services based in Bangkok, Thailand. The descriptive statistics and Pearson’s correlation analysis were used to analyze data. The research results revealed that the attitude of the marketing mix of the low-cost airline services including product, price, place, promotion and process had related to the consumer behavior on the aspects of duration of service and frequency of service. While, the brand image of the low cost airline including the characteristics of organization, service quality and company identity had related to the consumer behavior on duration of service, frequency of service and cost of service at the significant statistically acceptable levels.

Keywords: Brand image, consumer behavior, low-cost airlines, marketing mix.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3041

Authors: Altab Hossain, Ataur Rahman, Jakir Hossen, A.K.M. P. Iqbal, SK. Hasan

Abstract:

The measurement of aerodynamic forces and moments acting on an aircraft model is important for the development of wind tunnel measurement technology to predict the performance of the full scale vehicle. The potentials of an aircraft model with and without winglet and aerodynamic characteristics with NACA wing No. 65-3- 218 have been studied using subsonic wind tunnel of 1 m × 1 m rectangular test section and 2.5 m long of Aerodynamics Laboratory Faculty of Engineering (University Putra Malaysia). Focusing on analyzing the aerodynamic characteristics of the aircraft model, two main issues are studied in this paper. First, a six component wind tunnel external balance is used for measuring lift, drag and pitching moment. Secondly, Tests are conducted on the aircraft model with and without winglet of two configurations at Reynolds numbers 1.7×105, 2.1×105, and 2.5×105 for different angle of attacks. Fuzzy logic approach is found as efficient for the representation, manipulation and utilization of aerodynamic characteristics. Therefore, the primary purpose of this work was to investigate the relationship between lift and drag coefficients, with free-stream velocities and angle of attacks, and to illustrate how fuzzy logic might play an important role in study of lift aerodynamic characteristics of an aircraft model with the addition of certain winglet configurations. Results of the developed fuzzy logic were compared with the experimental results. For lift coefficient analysis, the mean of actual and predicted values were 0.62 and 0.60 respectively. The coreelation between actual and predicted values (from FLS model) of lift coefficient in different angle of attack was found as 0.99. The mean relative error of actual and predicted valus was found as 5.18% for the velocity of 26.36 m/s which was found to be less than the acceptable limits (10%). The goodness of fit of prediction value was 0.95 which was close to 1.0.

Keywords: Wind tunnel; Winglet; Lift coefficient; Fuzzy logic.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1905

Authors: F. Gökgöz, M. E. Atmaca

Abstract:

Electricity has an indispensable role in human daily life, technological development and economy. It is a special product or service that should be instantaneously generated and consumed. Sources of the world are limited so that effective and efficient use of them is very important not only for human life and environment but also for technological and economic development. Competitive electricity market is one of the important way that provides suitable platform for effective and efficient use of electricity. Besides benefits, it brings along some risks that should be carefully managed by a market player like Electricity Generation Company. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Value at Risk methods for case studies. Performance of optimal electricity sale solutions are measured and the portfolio performance has been evaluated via Sharpe-Ratio, and compared with conventional approach. Biennial historical electricity price data of Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: Electricity market, portfolio optimization, risk management, Sharpe ratio, value at risk.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1052

Authors: Jovana Petrović, Ivana Lončarević, Vesna Tumbas Šaponjac, Biljana Pajin, Danica Zarić

Abstract:

Pomace, a by-product from fruit processing industry is the potential source of valuable bioactive. Cookies are popular, ready to eat and low price foods; therefore, enrichment of these products is of great importance. In this work, bioactive compounds extracted from cherry pomace, encapsulated in soy and whey proteins, have been incorporated in cookies, replacing 10 (SP10 and WP10) and 15% of wheat flour (SP15 and WP15). Cookie geometry (diameter (D), thickness (T) and spread ratio (D/T)), cookie weight, cookie hardness and cookie surface colour were measured. Sensory characteristics are also examined. The results show that encapsulated cherry pomace bioactives have positively influenced the cookie mass. Diameter, redness (a* value) and cookie hardness increased. Sensory evaluation of cookies, revealed that up to 15% substitution of wheat flour with WP encapsulate produced acceptable cookies similar to the control (100% wheat flour) cookies.

Keywords: Cherry pomace, polyphenols, microencapsulation, cookies, physical characteristics.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1809

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

Abstract:

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.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2470

Authors: Mohd K. Yunus, Murni M. Ahmad, Abrar Inayat, Suzana Yusup

Abstract:

Due to the environmental and price issues of current energy crisis, scientists and technologists around the globe are intensively searching for new environmentally less-impact form of clean energy that will reduce the high dependency on fossil fuel. Particularly hydrogen can be produced from biomass via thermochemical processes including pyrolysis and gasification due to the economic advantage and can be further enhanced through in-situ carbon dioxide removal using calcium oxide. This work focuses on the synthesis and development of the flowsheet for the enhanced biomass gasification process in PETRONAS-s iCON process simulation software. This hydrogen prediction model is conducted at operating temperature between 600 to 1000oC at atmospheric pressure. Effects of temperature, steam-to-biomass ratio and adsorbent-to-biomass ratio were studied and 0.85 mol fraction of hydrogen is predicted in the product gas. Comparisons of the results are also made with experimental data from literature. The preliminary economic potential of developed system is RM 12.57 x 106 which equivalent to USD 3.77 x 106 annually shows economic viability of this process.

Keywords: Biomass, Gasification, Hydrogen, iCON.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2607

Authors: S. Da Costa, D. Páez, F. Sánchez

Abstract:

We examine the causal role of positive affect on creativity, the association of creativity or innovation in the ideation phase with functional emotional regulation, successful adjustment to stress and dispositional emotional creativity, as well as the predictive role of creativity for positive emotions and social adjustment. The study examines the effects of modification of positive affect on creativity. Participants write three poems, narrate an infatuation episode, answer a scale of personal growth after this episode and perform a creativity task, answer a flow scale after creativity task and fill a dispositional emotional creativity scale. High and low positive effect was induced by asking subjects to write three poems about high and low positive connotation stimuli. In a neutral condition, tasks were performed without previous affect induction. Subjects on the condition of high positive affect report more positive and less negative emotions, more personal growth (effect size r = .24) and their last poem was rated as more original by judges (effect size r = .33). Mediational analysis showed that positive emotions explain the influence of the manipulation on personal growth - positive affect correlates r = .33 to personal growth. The emotional creativity scale correlated to creativity scores of the creative task (r = .14), to the creativity of the narration of the infatuation episode (r = .21). Emotional creativity was also associated, during performing the creativity task, with flow (r = .27) and with affect balance (r = .26). The mediational analysis showed that emotional creativity predicts flow through positive affect. Results suggest that innovation in the phase of ideation is associated with a positive affect balance and satisfactory performance, as well as dispositional emotional creativity is adaptive.

Keywords: Affectivity, creativity, induction, innovation, psychological factors.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 613

Authors: Ijeoma Chinyere Ukonu

Abstract:

This research seeks to investigate how the globalisation of fast food has affected students’ food choice. A mixed method approach was used in this research; basically involving quantitative and qualitative methods. The quantitative method uses a self-completion questionnaire to randomly sample one hundred and four students; while the qualitative method uses a semi structured interview technique to survey four students on their knowledge and choice to consume fast food. A cross tabulation of variables and the Kruskal Wallis nonparametric test were used to analyse the quantitative data; while the qualitative data was analysed through deduction of themes, and trends from the interview transcribe. The findings revealed that globalisation has amplified the evolution of fast food, popularising it among students. Its global presence has affected students’ food choice and preference. Price, convenience, taste, and peer influence are some of the major factors affecting students’ choice of fast food. Though, students are familiar with the health effect of fast food and the significance of using food information labels for healthy choice making, their preference of fast food is more than homemade food.

Keywords: Fast food, food choice, globalisation, students.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 9185

Authors: Sewon Kim, Minjun Kwon, Changyeop Lee

Abstract:

This paper is aimed to study combustion characteristics of low NOx burner using petroleum cokes as fuel. The petroleum coke, which is produced through the oil refining process, is an attractive fuel in terms of its high heating value and low price. But petroleum coke is a challenging fuel because of its low volatile content, high sulfur and nitrogen content, which give rise to undesirable emission characteristics and low ignitability. Therefore, the research and development regarding the petroleum coke burner is needed for applying this industrial system. In this study, combustion and emission characteristics of petroleum cokes burner are experimentally investigated in an industrial steam boiler. The low NOx burner is designed to control fuel and air mixing to achieve staged combustion, which, in turn reduces both flame temperature and oxygen. Air distribution ratio of triple staged air is optimized experimentally. The result showed that NOx concentration is lowest when overfire air is used, and the burner function at a fuel rich condition. That is, the burner is operated at the equivalence ratio of 1.67 and overall equivalence ratio including overfire air is kept 0.87.

Keywords: Petroleum cokes, Staged combustion, Low NOx, Equivalence ratio.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2180

Authors: Caroline F. Moeser

Abstract:

The skin-gut axis defines the relationship between the intestinal microbiota and the development of pathological skin diseases. Low diversity within the gut can predispose to the development of allergic skin conditions, and a greater diversity of the gastrointestinal microflora has been associated with a reduction of skin flares in people with atopic dermatitis. Manipulation of the gut microflora has been used as a treatment option for several conditions in people, but there is limited data available on the use of fecal transplantation as a preventative measure in either people or dogs. Six, 4-month-old pups from a litter of 10 were presented for diarrhea and/or signs of skin disease (chronic scratching, otitis externa). Of these pups, two were given probiotics with a resultant resolution of diarrhea. The other four pups were given fecal transplantation, either as a sole treatment or in combination with other treatments. Follow-up on the litter of 10 pups was performed at 18 months of age. At this stage, three out of the four pups that had received fecal transplantation had resolved all clinical signs and had no recurrence of either skin or gastrointestinal symptoms, the other pup had one episode of Malassezia otitis. Of the remaining six pups from the litter, all had developed at least one episode of Malassezia otitis externa within the period of five to 18 months of age. Two pups had developed two Malassezia otitis infections, and one had developed three Malassezia otitis infections during this period. Favrot’s criteria for the diagnosis of canine atopic dermatitis include chronic or recurrent Malassezia infections by the age of three years. Early results from this litter predict a reduction in the development of canine atopic disease in dogs given fecal microbial transplantation. Follow-up studies at three years of age and within a larger population of dogs can enhance understanding of the impact of early fecal transplantation in the prevention of canine atopic dermatitis.

Keywords: Canine atopic dermatitis, fecal microbial transplant, skin-gut axis, otitis

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 826

Authors: K. Assis, K. P. Chong, A. S. Idris, C. M. Ho

Abstract:

Oil palm or Elaeis guineensis is considered as the golden crop in Malaysia. But oil palm industry in this country is now facing with the most devastating disease called as Ganoderma Basal Stem Rot disease. The objective of this paper is to analyze the economic loss due to this disease. There were three commercial oil palm sites selected for collecting the required data for economic analysis. Yield parameter used to measure the loss was the total weight of fresh fruit bunch in six months. The predictors include disease severity, change in disease severity, number of infected neighbor palms, age of palm, planting generation, topography, and first order interaction variables. The estimation model of yield loss was identified by using backward elimination based regression method. Diagnostic checking was conducted on the residual of the best yield loss model. The value of mean absolute percentage error (MAPE) was used to measure the forecast performance of the model. The best yield loss model was then used to estimate the economic loss by using the current monthly price of fresh fruit bunch at mill gate.

Keywords: Ganoderma, oil palm, regression model, yield loss, economic loss.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3237

Authors: Liping Yang, Curran Crawford, Jr. Ren, Zhengyi Ren

Abstract:

Considering the cost evaluation and the stress analysis, a fuzzy satisfactory optimization (FSO) method has been developed for a hybrid composite flywheel. To evaluate the cost, the cost coefficients of the flywheel components are obtained through calculating the weighted sum of the scores of the material manufacturability, the structure character, and the material price. To express the satisfactory degree of the energy, the cost, and the mass, the satisfactory functions are proposed by using the decline function and introducing a satisfactory coefficient. To imply the different significance of the objectives, the object weight coefficients are defined. Based on the stress analysis of composite material, the circumferential and radial stresses are considered into the optimization formulation. The simulations of the FSO method with different weight coefficients and storage energy density optimization (SEDO) method of a flywheel are contrasted. The analysis results show that the FSO method can satisfy different requirements of the designer and the FSO method with suitable weight coefficients can replace the SEDO method.

Keywords: Flywheel energy storage, fuzzy, optimization, stress analysis.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 963

Authors: Phruksaphanrat B.

Abstract:

This research proposes a Preemptive Possibilistic Linear Programming (PPLP) approach for solving multiobjective Aggregate Production Planning (APP) problem with interval demand and imprecise unit price and related operating costs. The proposed approach attempts to maximize profit and minimize changes of workforce. It transforms the total profit objective that has imprecise information to three crisp objective functions, which are maximizing the most possible value of profit, minimizing the risk of obtaining the lower profit and maximizing the opportunity of obtaining the higher profit. The change of workforce level objective is also converted. Then, the problem is solved according to objective priorities. It is easier than simultaneously solve the multiobjective problem as performed in existing approach. Possible range of interval demand is also used to increase flexibility of obtaining the better production plan. A practical application of an electronic company is illustrated to show the effectiveness of the proposed model.

Keywords: Aggregate production planning, Fuzzy sets theory, Possibilistic linear programming, Preemptive priority

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1860

Authors: Tao Shun, Xiao Xiangning, HadjSaid, N.

Abstract:

In a liberalized electricity market, it is not surprising that different customers require different power quality (PQ) levels at different price. Power quality related to several power disturbances is described by many parameters, so how to define a comprehensive hierarchy evaluation system of power quality (PQCHES) has become a concerned issue. In this paper, based on four electromagnetic compatibility (EMC) levels, the numerical range of each power disturbance is divided into five grades (Grade I –Grade V), and the “barrel principle" of power quality is used for the assessment of overall PQ performance with only one grade indicator. A case study based on actual monitored data of PQ shows that the site PQ grade indicates the electromagnetic environment level and also expresses the characteristics of loads served by the site. The shortest plank principle of PQ barrel is an incentive mechanism, which can combine with the rewards/penalty mechanism (RPM) of consumed energy “on quality demand", to stimulate utilities to improve the overall PQ level and also stimulate end-user more “smart" under the infrastructure of future SmartGrid..

Keywords: Power quality, electromagnetic compatibility, SmartGrid, comprehensive evaluation, barrel principle, electricitymarket

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1571

Authors: Ljubica Dokić, Ivana Nikolić, Dragana Šoronja–Simović, Zita Šereš, Biljana Pajin, Nils Juul, Nikola Maravić

Abstract:

The possibility of application the dietary fibers in production of crackers was observed in this work, as well as their influence on rheological and textural properties on the dough for crackers and influence on sensory properties of obtained crackers. Three different dietary fibers, oat, potato and pea fibers, replaced 10% of wheat flour. Long fermentation process and baking test method were used for crackers production. The changes of dough for crackers were observed by rheological methods of determination the viscoelastic dough properties and by textural measurements. Sensory quality of obtained crackers was described using quantity descriptive method (QDA) by trained members of descriptive panel. Additional analysis of crackers surface was performed by videometer. Based on rheological determination, viscoelastic properties of dough for crackers were reduced by application of dietary fibers. Manipulation of dough with 10% of potato fiber was disabled, thus the recipe modification included increase in water content at 35%. Dough compliance to constant stress for samples with dietary fibers decreased, due to more rigid and stiffer dough consistency compared to control sample. Also, hardness of dough for these samples increased and dough extensibility decreased. Sensory properties of final products, crackers, were reduced compared to control sample. Application of dietary fibers affected mostly hardness, structure and crispness of the crackers. Observed crackers were low marked for flavor and taste, due to influence of fibers specific aroma. The sample with 10% of potato fibers and increased water content was the most adaptable to applied stresses and to production process. Also this sample was close to control sample without dietary fibers by evaluation of sensory properties and by results of videometer method.

Keywords: Crackers, dietary fibers, rheology, sensory properties.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2493

Authors: Bruno Henrique Rocha Fernandes, Amir Rezaee, Jucelia Appio

Abstract:

The relation between Human Resource Management (HRM) practices and organizational performance remains the subject of substantial literature. Though many studies demonstrated positive relationship, still major influencing variables are not yet clear. This study considers the Person-Environment Fit (PE Fit) and its components, Person-Supervisor (PS), Person-Group (PG), Person-Organization (PO) and Person-Job (PJ) Fit, as possible explanatory variables. We analyzed PE Fit as a moderator between HRM practices and financial performance in the “best companies to work” in Brazil. Data from HRM practices were classified through the High Performance Working Systems (HPWS) construct and data on PE-Fit were obtained through surveys among employees. Financial data, consisting of return on invested capital (ROIC) and price earnings ratio (PER) were collected for publicly traded best companies to work. Findings show that PO Fit and PJ Fit play a significant moderator role for PER but not for ROIC.

Keywords: Financial performance, human resource management, high performance working systems, person-environment fit.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1353

Authors: Shigeaki Sakurai, Makino Kyoko, Shigeru Matsumoto

Abstract:

This paper proposes a method that predicts attractive evaluation objects. In the learning phase, the method inductively acquires trend rules from complex sequential data. The data is composed of two types of data. One is numerical sequential data. Each evaluation object has respective numerical sequential data. The other is text sequential data. Each evaluation object is described in texts. The trend rules represent changes of numerical values related to evaluation objects. In the prediction phase, the method applies new text sequential data to the trend rules and evaluates which evaluation objects are attractive. This paper verifies the effect of the proposed method by using stock price sequences and news headline sequences. In these sequences, each stock brand corresponds to an evaluation object. This paper discusses validity of predicted attractive evaluation objects, the process time of each phase, and the possibility of application tasks.

Keywords: Trend rule, frequent pattern, numerical sequential data, text sequential data, evaluation object.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1235

Authors: Muh. Hisjam, Nancy Oktyajati, Wakhid A. Jauhari, Wahyudi Sutopo

Abstract:

This research is intended to develop a raw material allocation model in timber processing industry in Perum Perhutani Unit I, Central Java, Indonesia. The model can be used to determine the quantity of allocation of timber between chain in the supply chain to select supplier considering factors that are log price and the distance. In determining the quantity of allocation of timber between chains in the supply chain, the model considers the optimal inventory in each chain. Whilst the optimal inventory is determined based on demand forecast, the capacity and safety stock. Problem solving allocation is conducted by developing linear programming model that aims to minimize the total cost of the purchase, transportation cost and storage costs at each chain. The results of numerical examples show that the proposed model can generate savings of the purchase cost of 20.84% and select suppliers with mileage closer.

Keywords: Allocation model, linear programming, purchase costs, storage costs, suppliers, transportation costs.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1486

Authors: Mojtaba Rezaei, Elham Heydari

Abstract:

This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.

Keywords: Accounting information, market risk, systematic risk, efficient market hypothesis, EMH, Tehran Stock Exchange, TSE.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 691

Authors: Ornst J., Voracek J., Allouache A., Allouache D.

Abstract:

Lack of resources for road infrastructure financing is a problem that currently affects not only eastern European economies but also many other countries especially in relation to the impact of global financial crisis. In this context, we are talking about the socalled short-investment problem as a result of long-term lack of investment resources. Based on an analysis of road infrastructure financing in the Czech Republic this article points out at weaknesses of current system and proposes a long-term planning methodology supported by system approach. Within this methodology and using created system dynamic model the article predicts the development of short-investment problem in the Country and in reaction on the downward trend of certain sources the article presents various scenarios resulting from the change of the structure of financial sources. In the discussion the article focuses more closely on the possibility of introduction of tax on vehicles instead of taxes with declining revenue streams and estimates its approximate price in relation to reaching various solutions of short-investment in time.

Keywords: Road financing, road infrastructure development, system dynamics

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1397

Authors: Hamed Homaei, Iraj Mahdavi, Ali Tajdin

Abstract:

One of the main concerns of miners is to increase the quality level of their products because the mining metals price depends on their quality level; however, increasing the quality level of these products has different costs at different levels of the supply chain. These costs usually increase after extractor level. This paper studies the coordination issue of a decentralized three-level supply chain with one supplier (extractor), one mineral processor and one manufacturer in which the increasing product quality level cost at the processor level is higher than the supplier and at the level of the manufacturer is more than the processor. We identify the optimal product quality level for each supply chain member by designing a revenue sharing contract. Finally, numerical examples show that the designed contract not only increases the final product quality level but also provides a win-win condition for all supply chain members and increases the whole supply chain profit.

Keywords: Three-stage supply chain, product quality improvement, channel coordination, revenue sharing.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1104