Search results for: hierarchical production rules.

Authors: S. Moshaf, Z. Hamidi-Esfahani, M. H. Azizi

Abstract:

Xanthan gum is one of the major commercial biopolymers. Due to its excellent rheological properties xanthan gum is used in many applications, mainly in food industry. Commercial production of xanthan gum uses glucose as the carbon substrate; consequently the price of xanthan production is high. One of the ways to decrease xanthan price, is using cheaper substrate like agricultural wastes. Iran is one of the biggest date producer countries. However approximately 50% of date production is wasted annually. The goal of this study is to produce xanthan gum from waste date using Xanthomonas campestris PTCC1473 by submerged fermentation. In this study the effect of three variables including phosphor and nitrogen amount and agitation rate in three levels using response surface methodology (RSM) has been studied. Results achieved from statistical analysis Design Expert 7.0.0 software showed that xanthan increased with increasing level of phosphor. Low level of nitrogen leaded to higher xanthan production. Xanthan amount, increasing agitation had positive influence. The statistical model identified the optimum conditions nitrogen amount=3.15g/l, phosphor amount=5.03 g/l and agitation=394.8 rpm for xanthan. To model validation, experiments in optimum conditions for xanthan gum were carried out. The mean of result for xanthan was 6.72±0.26. The result was closed to the predicted value by using RSM.

Keywords: Optimization, RSM, Waste date, Xanthan gum, Xanthomonas Campestris

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Authors: Priyanka Gupta, Paul Verma, Kerry Hourigan, Jayesh Bellare, Sameer Jadhav

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Understanding the consumption and production of various metabolites of fibroblast conditioned media is needed for its proper and optimized use in expansion of pluripotent stem cells. For this purpose, we have used the HPLC method to analyse the consumption of glucose and the production of lactate over time by mouse embryonic fibroblasts. The experimental data have also been compared with mathematical model fits. 0.025 moles of lactate was produced after 72 hrs while the glucose concentration decreased from 0.017 moles to 0.011 moles. The mathematical model was able to predict the trends of glucose consumption and lactate production.

Keywords: Conditioned media, HPLC, metabolite analysis, mouse embryonic fibroblast.

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Authors: H. Erbiyik, A. Bal, M. Sirakaya, Ö. Yesildal, E. Yolcu

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The emergence of many environmental issues began with the Industrial Revolution. The depletion of natural resources and emerging environmental challenges over time requires enterprises and managers to take into consideration environmental factors while managing business. If we take notice of these causes; the design and implementation of environmentally friendly green purchasing, production and waste management systems become very important at green logistics systems. Companies can adopt green supply chain with the awareness of these facts. The concept of green supply chain constitutes from green purchasing, green production, green logistics, waste management and reverse logistics. In this study, we wanted to identify the concept of green supply chain and why green supply chain should be applied. In the practice part of the study an analytic hierarchy process (AHP) study is conducted on an aluminum production company to evaluate suppliers.

Keywords: Aluminum sector, analytic hierarchy process, decision making, green logistics.

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Authors: Pilanee Vaithanomsat, Waraporn Apiwatanapiwat

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Jatropha curcas stem was analyzed for chemical compositions: 19.11% pentosan, 42.99% alphacellulose and 24.11% lignin based on dry weight of 100-g raw material. The condition to fractionate cellulose, hemicellulose and lignin in J. curcas stem using steam explosion was optimized. The procedure started from cutting J. curcas stem into small pieces and soaked in water for overnight. After that, they were steam exploded at 214 °C and 21 kg/cm2 for 5 min. The obtained hydrolysate contained 1.55 g/L ferulic acid which after that was used as substrate for vanillin production by Aspergillus niger and Pycnoporus cinnabarinus in one-step process. The maximum 0.65 g/L of vanillin were obtained with the conversion rate of 45.2% based on the initial ferulic acid.

Keywords: Vanillin, production, Jatropha curcas stem, steam explosion.

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Authors: Yeonjeong Lee, Kyoung-jae Kim, Youngtae Kim

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This study proposes a novel recommender system that uses data mining and multi-model ensemble techniques to enhance the recommendation performance through reflecting the precise user’s preference. The proposed model consists of two steps. In the first step, this study uses logistic regression, decision trees, and artificial neural networks to predict customers who have high likelihood to purchase products in each product group. Then, this study combines the results of each predictor using the multi-model ensemble techniques such as bagging and bumping. In the second step, this study uses the market basket analysis to extract association rules for co-purchased products. Finally, the system selects customers who have high likelihood to purchase products in each product group and recommends proper products from same or different product groups to them through above two steps. We test the usability of the proposed system by using prototype and real-world transaction and profile data. In addition, we survey about user satisfaction for the recommended product list from the proposed system and the randomly selected product lists. The results also show that the proposed system may be useful in real-world online shopping store.

Keywords: Product recommender system, Ensemble technique, Association rules, Decision tree, Artificial neural networks.

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Authors: Volker Wannack

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The aim of this paper is to present a concept for addressing the Oracle Problem in the context of hydrogen production using renewable energy sources. The proposed approach relies on the authentication of the electricity used for hydrogen production by multiple surrounding actors with similar electricity generation facilities, which attest to the authenticity of the electricity production. The concept introduces an Authenticity Score assigned to each certificate, as well as a Trust Score assigned to each witness. Each certificate must be attested by different actors with a sufficient Trust Score to achieve an Authenticity Score above a predefined threshold, thereby demonstrating that the produced hydrogen is indeed "green."

Keywords: Hydrogen, blockchain, sustainability, structural change.

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Authors: José A. D. Machuca, Bernabé Escobar-Pérez, Pedro Garrido Vega, Darkys E. Lujan García

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Starting with an analysis of the financial and operational indicators that can be found in the specialised literature, this study aims to contribute to improvements in the performance measurement systems used when the unit of analysis is the manufacturing plant. For this a search was done in the highest impact Journals of Production and Operations Management and Management Accounting , with the aim of determining the financial and operational indicators used to evaluate performance when Advanced Production Practices have been implemented, more specifically when the practices implemented are Total Quality Management, JIT/Lean Manufacturing and Total Productive Maintenance. This has enabled us to obtain a classification of the two types of indicators based on how much each is used. For the financial indicators we have also prepared a proposal that can be adapted to manufacturing plants- accounting features. In the near future we will propose a model that links practices implementation with financial and operational indicators and these two last with each other. We aim to will test this model empirically with the data obtained in the High Performance Manufacturing Project.

Keywords: Advanced Production Practices, Financial Indicators, Non-Financial Indicators

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Authors: Omar Gaci, Stefan Balev

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In this paper we introduce the notion of protein interaction network. This is a graph whose vertices are the protein-s amino acids and whose edges are the interactions between them. Using a graph theory approach, we identify a number of properties of these networks. We compare them to the general small-world network model and we analyze their hierarchical structure.

Keywords: interaction network, protein structure, small-world network.

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Authors: W. K. Hiromi Ariyaratne, Morten C. Melaaen, Lars-André Tokheim

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A mathematical model based on a mass and energy balance for the combustion in a cement rotary kiln was developed. The model was used to investigate the impact of replacing about 45 % of the primary coal energy by different alternative fuels. Refuse derived fuel, waste wood, solid hazardous waste and liquid hazardous waste were used in the modeling. The results showed that in order to keep the kiln temperature unchanged, and thereby maintain the required clinker quality, the production capacity had to be reduced by 1-15 %, depending on the fuel type. The reason for the reduction is increased exhaust gas flow rates caused by the fuel characteristics. The model, which has been successfully validated in a full-scale experiment, was also used to show that the negative impact on the production capacity can be avoided if a relatively small part of the combustion air is replaced by pure oxygen.

Keywords: Alternative fuels, Cement kiln main burner, Oxygen enrichment, Production capacity.

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Authors: Timothee G. Leleu

Abstract:

A new technique of topological multi-scale analysis is introduced. By performing a clustering recursively to build a hierarchy, and analyzing the co-scale and intra-scale similarities, an Iterated Function System can be extracted from any data set. The study of fractals shows that this method is efficient to extract self-similarities, and can find elegant solutions the inverse problem of building fractals. The theoretical aspects and practical implementations are discussed, together with examples of analyses of simple fractals.

Keywords: hierarchical clustering, multi-scale analysis, Similarity hashing.

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Authors: T. Ganesan, M. S. Aris, I. Elamvazuthi, Momen Kamal Tageldeen

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Terms set in power purchase agreements (PPA) challenge power utility companies in balancing between the returns (from maximizing power production) and securing long term supply contracts at capped production. The production limitation set in the PPA has driven efforts to maximize profits through efficient and economic power production. In this paper, a combined industrial-scale gas turbine (GT) - absorption chiller (AC) system is considered to cool the GT air intake for reducing the plant’s heat rate (HR). This GT-AC system is optimized while considering power output limitations imposed by the PPA. In addition, the proposed formulation accounts for uncertainties in the ambient temperature using Type-2 fuzzy programming. Using the enhanced chaotic differential evolution (CEDE), the Pareto frontier was constructed and the optimization results are analyzed in detail.

Keywords: Absorption chillers, turbine inlet air cooling, power purchase agreement, multiobjective optimization, type-2 fuzzy programming, chaotic differential evolution.

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Authors: Ruedee Niyomrath

Abstract:

Ranong province has the best kaolin, and it is the most useful of all the clay types used in ceramic making. Until recently, there has been only one community business making ceramics in Ranong province. And this business could not build the mix of body and glaze from their raw material without assistance. Considering these problems, this research is aimed to test the composition of ceramic body and glaze which suit. Kaolin from Ranong is the raw material which these search focuses on. All other raw materials use in the investigation will come from southern Thailand, kaolin and limestone from Ranong province, ball clay from Surat Thani province, white sand from Songkhla province, and feldspar from Nakhon Si Thammarat province. Results can be used to develop the efficiency of industrial production which in return will enhance the business process.

Keywords: Ceramic body and glaze, Ceramic material, Ceramic production from kaolin, Ceramic souvenirs.

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Authors: Tadeusz Witkowski, Paweł Antczak, Arkadiusz Antczak

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In the paper we discuss the influence of the route flexibility degree, the open rate of operations and the production type coefficient on makespan. The flexible job-open shop scheduling problem FJOSP (an extension of the classical job shop scheduling) is analyzed. For the analysis of the production process we used a hybrid heuristic of the GRASP (greedy randomized adaptive search procedure) with simulated annealing algorithm. Experiments with different levels of factors have been considered and compared. The GRASP+SA algorithm has been tested and illustrated with results for the serial route and the parallel one.

Keywords: Makespan, open shop, route flexibility, serial and parallel route, simulation modeling, type of production.

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Authors: Okewu E. Jonathan

Abstract:

There are several techniques of production in the field of ceramics. These different techniques overtime have been categorised under three methods of production which includes; casting, throwing and hand building. Hand building method of production is further broken down into other techniques and they include coiling, slabbing and pinching. Ceramic artists find the different hand building techniques to be very interesting, practicable and rewarding. This has encouraged ceramic artist in their various studios at different levels to experiment for further hand building techniques that could be unique and unusual. The art of “Clay Palm Press” is a development from studio experiment in a quest for uniqueness in conceptual ceramic practise. Clay palm press is a technique that requires no formal tutelage but at the same time, it is not easily comprehensible when viewed. It is a practice of putting semi-solid clay in the palm and inserting a closed fist pressure so as to take the imprint of the human palm. This clay production from the palm when dried, fired and explored into an art, work reveals an absolute awesomeness of what the palm imprint could result in.

Keywords: Ceramics, clay palm press, conceptual forms, hand building, technique.

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Authors: R. Rajendiran, S. Gayathri devi, B.T. SureshKumar, V. Arul Priya

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Plackett-Burman statistical screening of media constituents and operational conditions for extracellular lipase production from isolate Trichoderma viride has been carried out in submerged fermentation. This statistical design is used in the early stages of experimentation to screen out unimportant factors from a large number of possible factors. This design involves screening of up to 'n-1' variables in just 'n' number of experiments. Regression coefficients and t-values were calculated by subjecting the experimental data to statistical analysis using Minitab version 15. The effects of nine process variables were studied in twelve experimental trials. Maximum lipase activity of 7.83 μmol /ml /min was obtained in the 6th trail. Pareto chart illustrates the order of significance of the variables affecting the lipase production. The present study concludes that the most significant variables affecting lipase production were found to be palm oil, yeast extract, K2HPO4, MgSO4 and CaCl2.

Keywords: lipase, submerged fermentation, statistical optimization, Trichoderma viride

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Authors: W. Koranuntachai, T. Chantrasmi, U. Nontakaew

Abstract:

Medical latex gloves are made from the latex compound in production lines. Latex dipping is considered one of the most important processes that directly affect the final product quality. In a continuous production line, a chain conveyor carries the formers through the process and partially submerges them into an open channel flow in a latex dipping tank. In general, the conveyor speed is determined by the desired production capacity, and the latex-dipping tank can then be designed accordingly. It is important to understand the flow behavior in the dipping tank in order to achieve high quality in the process. In this work, Computational Fluid Dynamics (CFD) was used to simulate the flow past an array of formers in a simplified latex dipping process. The computational results showed both the flow structure and the vortex generation between two formers. The maximum shear stress over the surface of the formers was used as the quality metric of the latex-dipping process when adjusting operation parameters.

Keywords: medical latex gloves, latex dipping, dipping tank, computational fluid dynamics

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Authors: Srinath Ramakkrushnan, Aswathaman Vijayan

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In conventional seedling production, the seedlings are being grown in the open field under natural conditions. Here they are susceptible to sudden changes in climate were their quality and yield is affected. Quality seedlings are essential for good growth and performance of crops in main field; they serve as a foundation for the economic returns to the farmer. Producing quality seedling demands usage of hybrid seeds as they have the ability to result in better yield, greater uniformity, improved color, disease resistance, and so forth. Hybrid seed production poses major operational challenge and its seed use efficiency plays an important role. Thus in order to overcome the difficulties currently present in conventional seedling production and to efficiently use hybrid seeds, ITC Limited Agri Business Divisions - Sustainability Cell as conceptualized a novel method of seedling production unit for farmers in West Godavari District of Andhra Pradesh. The “Green House based Float Seedling" methodology aims at a protected cultivation technique wherein the micro climate surrounding the plant/seedling body is controlled partially or fully as per the requirement of the species. This paper reports on the techno economic evaluation of green house for cultivation of float based seedling production with experimental results that was attained from the pilot implementation in West Godavari District, Rajahmundry region of India.

Keywords: Economic Assessment, Float Seedling, Green House, ITC Limited, Payback period.

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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

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Authors: Adnan Z. Mkhelif

Abstract:

The production of number forms in English tends to be problematic for Iraqi learners of English as a foreign language (EFL), even at the undergraduate level. To help better understand and consequently address this problem, it is important to identify its sources. This study aims at: (1) statistically analysing Iraqi EFL undergraduates' performance in the production of number forms in English; (2) classifying learners' errors in terms of their possible major causes; and (3) outlining some pedagogical recommendations relevant to the teaching of number forms in English. It is hypothesized in this study that (1) Iraqi EFL undergraduates still face problems in the production of number forms in English and (2) errors pertaining to the context of learning are more numerous than those attributable to the other possible causes. After reviewing the literature available on the topic, a written test comprising 50 items has been constructed and administered to a randomly chosen sample of 50 second-year college students from the Department of English, College of Education, Wasit University. The findings of the study showed that Iraqi EFL undergraduates still face problems in the production of number forms in English and that the possible major sources of learners’ errors can be arranged hierarchically in terms of the percentages of errors to which they can be ascribed as follows: (1) context of learning (50%), (2) intralingual transfer (37%), and (3) interlingual transfer (13%). It is hoped that the implications of the study findings will be beneficial to researchers, syllabus designers, as well as teachers of English as a foreign/second language.

Keywords: L2 morphology, L2 number forms, L2 vocabulary learning, productive knowledge.

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Authors: A. Kerfah, K. Taïbi, S. Omeiri, M. Trari.

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New lead-free ferroelectric relaxor ceramics were prepared by conventional solid-state synthesis in the BaTiO3-Bi2O3- Y2O3 systems. Some of these ceramics present a ferroelectric relaxor with transition temperature close to room temperature. These new materials are very interesting for applications and can replace leadbased ceramic to prevent the toxic pollutions during the preparation state. In the other hand, the energy band diagram shows the potentiality of these compounds for the solar energy conversion. Thus, some compositions have been tested successfully for H2 production upon visible light. The best activity occurs in alkaline media with a rate evolution of about 0.15 mL g-1 mn-1 and a quantum yield of 1% under polychromatic light.

Keywords: Ferroelectric, Hydrogen production, Lead-free, Photocatalysis.

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Authors: D. Gåsvaer, J. von Axelson

Abstract:

Considering today-s increasing speed of change, radical and innovative improvement - Kaikaku, is a necessity parallel to continuous incremental improvement - Kaizen, especially for SME-s in order to attain the competitive edge needed to be profitable. During 2011, a qualitative single case study with the objective of realizing a kaikaku in production has been conducted. The case study was run as a one year project using a collaborative approach including both researchers and company representatives. The case study was conducted with the purpose of gaining further knowledge about kaikaku realization as well as its implications. The empirical results provide insights about the great productivity results achieved by applying a specific kaikaku realization approach. However, it also sheds light on the difficulty and contradiction of combining innovation management and production system development.

Keywords: Kaikaku, Radical improvement, manufacturing, innovation capability

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Authors: Sebastian Tschöpe, Konja Knüppel, Peter Nyhuis

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In times when product life cycles are decreasing, while market demands are increasing, manufacturing enterprises are confronted with the challenge of more frequent and more complex ramp-ups. Thus it becomes obvious that ramp-up management is going to be a topic enterprises have to focus on in the future. Since each ramp-up is unique concerning the product, the process, the technology, the circumstances and the coaction of these four factors, the knowledge of the ramp-up situation and the current ramp-up capability of the enterprise are fundamental requirements for the subsequent improvement of the ramp-up capability of the production system.

In this article a methodology is going to be presented which can be used to define typical production ramp-up situations, to identify the current ramp-up capability of a production system and to improve it with respect to a specific situation. Additionally there will be a description of the functionality of a software-tool developed based on this methodology.

Keywords: Assessment methodology, ramp-up, ramp-up capability, software-tool.

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Authors: S. Potivichayanon, T. Sungmon, W. Chaikongmao, S. Kamvanin

Abstract:

Production of biogas from bakery waste was enhanced by additional bacterial cell. This study was divided into 2 steps. First step, grease waste from bakery industry-s grease trap was initially degraded by Pseudomonas aeruginosa. The concentration of byproduct, especially glycerol, was determined and found that glycerol concentration increased from 12.83% to 48.10%. Secondary step, 3 biodigesters were set up in 3 different substrates: non-degraded waste as substrate in first biodigester, degraded waste as substrate in secondary biodigester, and degraded waste mixed with swine manure in ratio 1:1 as substrate in third biodigester. The highest concentration of biogas was found in third biodigester that was 44.33% of methane and 63.71% of carbon dioxide. The lower concentration at 24.90% of methane and 18.98% of carbon dioxide was exhibited in secondary biodigester whereas the lowest was found in non-degraded waste biodigester. It was demonstrated that the biogas production was greatly increased with the initial grease waste degradation by Pseudomonas aeruginosa.

Keywords: Biogas production, carbon dioxide, methane, Pseudomonas aeruginosa

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Authors: Wafa' S.Al-Sharafat, Reyadh Naoum

Abstract:

Society has grown to rely on Internet services, and the number of Internet users increases every day. As more and more users become connected to the network, the window of opportunity for malicious users to do their damage becomes very great and lucrative. The objective of this paper is to incorporate different techniques into classier system to detect and classify intrusion from normal network packet. Among several techniques, Steady State Genetic-based Machine Leaning Algorithm (SSGBML) will be used to detect intrusions. Where Steady State Genetic Algorithm (SSGA), Simple Genetic Algorithm (SGA), Modified Genetic Algorithm and Zeroth Level Classifier system are investigated in this research. SSGA is used as a discovery mechanism instead of SGA. SGA replaces all old rules with new produced rule preventing old good rules from participating in the next rule generation. Zeroth Level Classifier System is used to play the role of detector by matching incoming environment message with classifiers to determine whether the current message is normal or intrusion and receiving feedback from environment. Finally, in order to attain the best results, Modified SSGA will enhance our discovery engine by using Fuzzy Logic to optimize crossover and mutation probability. The experiments and evaluations of the proposed method were performed with the KDD 99 intrusion detection dataset.

Keywords: MSSGBML, Network Intrusion Detection, SGA, SSGA.

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Authors: Hanane Ondella, Pierre Ladet, David Ferrand, Pat Sloan

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In the micro and nano-technology industry, the «clean-rooms» dedicated to manufacturing chip, are equipped with the most sophisticated equipment-tools. There use a large number of resources in according to strict specifications for an optimum working and result. The distribution of «utilities» to the production is assured by teams who use a supervision tool. The studies show the interest to control the various parameters of production or/and distribution, in real time, through a reliable and effective supervision tool. This document looks at a large part of the functions that the supervisor must assure, with complementary functionalities to help the diagnosis and simulation that prove very useful in our case where the supervised installations are complexed and in constant evolution.

Keywords: Control-Command, evolution, non regression, performances, real time, simulation, supervision.

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Authors: George Cristian Gruia, Michal Kavan

Abstract:

The article describes a case study on one of Czech Republic-s manufacturing middle size enterprises (ME), where due to the European financial crisis, production lines had to be redesigned and optimized in order to minimize the total costs of the production of goods. It is considered an optimization problem of minimizing the total cost of the work load, according to the costs of the possible locations of the workplaces, with an application of the Greedy algorithm and a partial analogy to a Set Packing Problem. The displacement of working tables in a company should be as a one-toone monotone increasing function in order for the total costs of production of the goods to be at minimum. We use a heuristic approach with greedy algorithm for solving this linear optimization problem, regardless the possible greediness which may appear and we apply it in a Czech ME.

Keywords: Czech, greedy algorithm, minimize, total costs.

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Authors: Ayman E. Taha, Fawzy A. Abd El-Ghany

Abstract:

A crossbreeding experiment was carried out between two Egyptian strains of chickens namely Mandarah (MM) and El-Salam (SS). The two purebred strains and their reciprocal crosses (MS and SM) were used to estimate the effect of crossing on egg laying and egg quality parameters, direct additive and maternal additive effects as well as heterosis and direct heterosis percentages for studied traits. Results revealed that SM cross recorded the highest significant averages for most of egg production traits including body weight at sexual maturity (BW1), egg numbers at first 90 days, 42 weeks and 65 weeks of age (EN1, EN2 and EN3; respectively), egg weight at 90 days, 42 weeks of age (EW1 and EW2), egg mass at 90 days, 42 weeks and 65 weeks of age (EM1, EM2 and EM3; respectively), feed conversion ratio to egg production at 90 days , 42 weeks and 65 weeks of age (FCR1, FCR2 and FCR3; respectively), fertility and commercial hatchability percentages. Moreover, SM line reached the age sexual maturity (ASM) and period to the first ten eggs (Pf10 egg) at earlier age than other lines. On the other hand, crossing did not well improve egg quality parameters. Estimates and percentages of direct additive effect (GI) were negative for most of the studied traits except for EN1, EN2, EN3, FCR3, fertility, scientific and commercial hatchability percentages that were positive. But Estimates and percentages of maternal heterosis (Gm) were positive for all the studied traits of egg production, except for BW2, BW3, ASM, Pf10, FCR1, FCR2, FCR3 and scientific hatchability that were negative. Also, positive estimates and percentages of heterosis were recorded for most of egg production and egg quality traits. It was concluded that using of SS strain as a sire line and MM strain as a dam line resulting in best new commercial egg line (SM) which is of great concern for poultry breeder in Egypt.

Keywords: Mandarahand El-Salam chickens, Crossing, Egg production, Egg quality, Crossbreeding components.

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Authors: Mourtou Efstratia, Abdel-Badeeh M. Salem, Pavlidis George

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Hierarchical high-level PNs (HHPNs) with time versions are a useful tool to model systems in a variety of application domains, ranging from logistics to complex workflows. This paper addresses an application domain which is receiving more and more attention: procedure that arranges the final inpatient charge in payment-s office and their management. We shall prove that Petri net based analysis is able to improve the delays during the procedure, in order that inpatient charges could be more reliable and on time.

Keywords: eHealth, Petri-Nets, Hospital Services, InpatientCharges, Workflow Modeling.

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Authors: Tanapoom Phuncharoen, Tawiwat Sriwongsa, Kanita Boonruang, Apichit Svang-ariyaskul

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The production of Dimethyl acetal, Isovaleradehyde and Pyridine were simulated using Aspen Plus simulation. Upgrading cleaning water from wine industrial production is the main objective of the project. The winery waste composes of Acetaldehyde, Methanol, Ethyl Acetate, 1-propanol, water, iso-amyl alcohol and iso-butyl alcohol. The project is separated into three parts; separation, reaction, and purification. Various processes were considered to maximize the profit along with obtaining high purity and recovery of each component with optimum heat duty. The results show a significant value of the product with purity more than 75% and recovery over 98%.

Keywords: Dimethyl acetal, Pyridine, wine, Aspen Plus, Isovaleradehyde, polymeric precursors.

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Authors: George Yungchih Wang

Abstract:

Real options theory suggests that managerial flexibility embedded within irreversible investments can account for a significant value in project valuation. Although the argument has become the dominant focus of capital investment theory over decades, yet recent survey literature in capital budgeting indicates that corporate practitioners still do not explicitly apply real options in investment decisions. In this paper, we explore how real options decision criteria can be transformed into equivalent capital budgeting criteria under the consideration of uncertainty, assuming that underlying stochastic process follows a geometric Brownian motion (GBM), a mixed diffusion-jump (MX), or a mean-reverting process (MR). These equivalent valuation techniques can be readily decomposed into conventional investment rules and “option impacts", the latter of which describe the impacts on optimal investment rules with the option value considered. Based on numerical analysis and Monte Carlo simulation, three major findings are derived. First, it is shown that real options could be successfully integrated into the mindset of conventional capital budgeting. Second, the inclusion of option impacts tends to delay investment. It is indicated that the delay effect is the most significant under a GBM process and the least significant under a MR process. Third, it is optimal to adopt the new capital budgeting criteria in investment decision-making and adopting a suboptimal investment rule without considering real options could lead to a substantial loss in value.

Keywords: real options, capital budgeting, geometric Brownianmotion, mixed diffusion-jump, mean-reverting process

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