Search results for: cash management problem

Authors: Soumia Ichoua

Abstract:

In this paper, we investigate the strategic stochastic air traffic flow management problem which seeks to balance airspace capacity and demand under weather disruptions. The goal is to reduce the need for myopic tactical decisions that do not account for probabilistic knowledge about the NAS near-future states. We present and discuss a scenario-based modeling approach based on a time-space stochastic process to depict weather disruption occurrences in the NAS. A solution framework is also proposed along with a distributed implementation aimed at overcoming scalability problems. Issues related to this implementation are also discussed.

Keywords: Air traffic management, sample average approximation, scenario-based approach, stochastic capacity.

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Authors: G. Papageorgiou, A. Hadjis

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This paper examines the problem of strategic management in highly turbulent dynamic business environmental conditions. As shown the high complexity of the problem can be managed with the use of System Dynamics Models and Computer Simulation in obtaining insights, and thorough understanding of the interdependencies between the organizational structure and the business environmental elements, so that effective product –market strategies can be designed. Simulation reveals the underlying forces that hold together the structure of an organizational system in relation to its environment. Such knowledge will contribute to the avoidance of fundamental planning errors and enable appropriate proactive well focused action.

Keywords: Strategic Management, System Dynamics, Modelingand Simulation, Strategic Planning, Organizational Dynamics

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Authors: Krisada Sungkhamanee

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The objectives of this research are to know the management form of Samut Songkram lodging entrepreneurs with sufficient economy framework, to know the threat that affect this business and drawing the fit model for this province in order to sustain their business with Samut Songkram style. What will happen if they do not use this philosophy? Will they have a cash short fall? The data and information are collected by informal discussion with 8 managers and 400 questionnaires. We will use a mix of methods both qualitative research and quantitative research for our study. Bent Flyvbjerg’s phronesis is utilized for this analysis. Our research will prove that sufficient economy can help small and medium business firms solve their problems. We think that the results of our research will be a financial model to solve many problems of the entrepreneurs and this way will use to practice in other areas of our country. 

Keywords: Samut Songkram, Hospitality Business, Sufficient Economy Philosophy.

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Authors: Minghui Wang, Shanrui Hu

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An inverse problem of doubly center matrices is discussed. By translating the constrained problem into unconstrained problem, two iterative methods are proposed. A numerical example illustrate our algorithms.

Keywords: doubly center matrix, electric network theory, iterative methods, least-square problem.

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Authors: Darwin Gouwanda, S. G. Ponnambalam

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Set covering problem is a classical problem in computer science and complexity theory. It has many applications, such as airline crew scheduling problem, facilities location problem, vehicle routing, assignment problem, etc. In this paper, three different techniques are applied to solve set covering problem. Firstly, a mathematical model of set covering problem is introduced and solved by using optimization solver, LINGO. Secondly, the Genetic Algorithm Toolbox available in MATLAB is used to solve set covering problem. And lastly, an ant colony optimization method is programmed in MATLAB programming language. Results obtained from these methods are presented in tables. In order to assess the performance of the techniques used in this project, the benchmark problems available in open literature are used.

Keywords: Set covering problem, genetic algorithm, ant colony optimization, LINGO.

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Authors: S. Sadallah

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In this paper, dynamic programming is used to determine the optimal management of financial resources in company. Solution of the problem by consider into simpler substructures is constructed. The optimal management of internal capital of company are simulated. The tools applied in this development are based on graph theory. The software of given problems is built by using greedy algorithm. The obtained model and program maintenance enable us to define the optimal version of management of proper financial flows by using visual diagram on each level of investment.

Keywords: Management, software, optimal, greedy algorithm, graph-diagram.

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Authors: Carlo Bruni, Francesco Delli Priscoli, Giorgio Koch, Ilaria Marchetti

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This paper proposes an innovative approach for the Connection Admission Control (CAC) problem. Starting from an abstract network modelling, the CAC problem is formulated in a technology independent fashion allowing the proposed concepts to be applied to any wireless and wired domain. The proposed CAC is decoupled from the other Resource Management procedures, but cooperates with them in order to guarantee the desired QoS requirements. Moreover, it is based on suitable performance measurements which, by using proper predictors, allow to forecast the domain dynamics in the next future. Finally, the proposed CAC control scheme is based on a feedback loop aiming at maximizing a suitable performance index accounting for the domain throughput, whilst respecting a set of constraints accounting for the QoS requirements.

Keywords: Network Management, Quality of Service (QoS) requirements, Optimal Control.

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Authors: Irfah Najihah Basir Malan, Norhana Salamudin, Noryati Ahmad

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Corporate ownership structure is an important factor influencing firm performance. This study aims to answer the question whether pyramid structure has negative effect on firm value. This study is important because the ownership of public listed companies in Malaysia is highly concentrated. The concentrated ownership such as Malaysia, agency conflict is prevalent between controlling shareholders and minority shareholders. Accordingly, the dominant role of shareholders in firms allows the controlling shareholders (including managers) to expropriate the interest of the minority shareholders for their own private advantage. This research is conducted on pyramidal firms in Malaysia. Applying the Attig Model as the underlying statistical test, it is found that firm value is negatively related to pyramid ownership of Malaysian public listed firms due to the mismatch between cash flow rights and control rights. Future research needs to focus on identifying the heterogeneous factors that improve the generalizability of research.

Keywords: Pyramid structure, Cash flow right, Control right, Firm value, Attig model.

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Authors: Savita K.S, Hazwani H., Kalid K. S.

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This paper presents a narrative management system for organizations to capture organization's tacit knowledge through stories. The intention of capturing tacit knowledge is to address the problem that comes with the mobility of workforce in organisation. Storytelling in knowledge management context is seen as a powerful management tool to communicate tacit knowledge in organization. This narrative management system is developed firstly to enable uploading of many types of knowledge sharing stories, from general to work related-specific stories and secondly, each video has comment functionality where knowledge users can post comments to other knowledge users. The narrative management system allows the stories to browse, search and view by the users. In the system, stories are stored in a video repository. Stories that were produced from this framework will improve learning, knowledge transfer facilitation and tacit knowledge quality in an organization.

Keywords: Knowledge Management, Storytelling, Stories, Tacit Knowledge

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Authors: Jiří Barta, Tomáš Ludík, Jiří Urbánek

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Topics Disaster and Emergency Management are highly debated among experts. Fast communication will help to deal with emergencies. Problem is with the network connection and data exchange. The paper suggests a solution, which allows possibilities and perspectives of new flexible communication platform to the protection of communication systems for crisis management. This platform is used for everyday communication and communication in crisis situations too.

Keywords: Communication Platform, Crisis Management, Crisis Communication, Information Systems, Interoperability, Security Environment.

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Authors: Majid Abdolrazzagh-Nezhad, Salwani Abdullah

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The job-shop scheduling problem (JSSP) is an important decision facing those involved in the fields of industry, economics and management. This problem is a class of combinational optimization problem known as the NP-hard problem. JSSPs deal with a set of machines and a set of jobs with various predetermined routes through the machines, where the objective is to assemble a schedule of jobs that minimizes certain criteria such as makespan, maximum lateness, and total weighted tardiness. Over the past several decades, interest in meta-heuristic approaches to address JSSPs has increased due to the ability of these approaches to generate solutions which are better than those generated from heuristics alone. This article provides the classification, constraints and objective functions imposed on JSSPs that are available in the literature.

Keywords: Job-shop scheduling, classification, constraints, objective functions.

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Authors: Edikan E. Akpanibah Obinichi C. Mandah Imoleayo S. Asiwaju

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In this paper, we studied the effect of supplementary premium on the optimal portfolio policy in a defined contribution (DC) pension scheme with refund of premium clauses. This refund clause allows death members’ next of kin to withdraw their relative’s accumulated wealth during the accumulation period. The supplementary premium is to help sustain the scheme and is assumed to be stochastic. We considered cases when the remaining wealth is equally distributed and when it is not equally distributed among the remaining members. Next, we considered investments in cash and equity to help increase the remaining accumulated funds to meet up with the retirement needs of the remaining members and composed the problem as a continuous time mean-variance stochastic optimal control problem using the actuarial symbol and established an optimization problem from the extended Hamilton Jacobi Bellman equations. The optimal portfolio policy, the corresponding optimal fund size for the two assets and also the efficient frontier of the pension members for the two cases was obtained. Furthermore, the numerical simulations of the optimal portfolio policies with time were presented and the effect of the supplementary premium on the optimal portfolio policy was discussed and observed that the supplementary premium decreases the optimal portfolio policy of the risky asset (equity). Secondly we observed a disparity between the optimal policies for the two cases.

Keywords: Defined contribution pension scheme, extended Hamilton Jacobi Bellman equations, optimal portfolio policies, refund of premium clauses, supplementary premium.

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Authors: Abdolsalam Ghaderi

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In this paper, the single-depot capacitated location-routing problem under uncertainty is presented. The problem aims to find the optimal location of a single depot and the routing of vehicles to serve the customers when the parameters may change under different circumstances. This problem has many applications, especially in the area of supply chain management and distribution systems. To get closer to real-world situations, travel time of vehicles, the fixed cost of vehicles usage and customers’ demand are considered as a source of uncertainty. A combined approach including robust optimization and stochastic programming was presented to deal with the uncertainty in the problem at hand. For this purpose, a mixed integer programming model is developed and a heuristic algorithm based on Variable Neighborhood Search(VNS) is presented to solve the model. Finally, the computational results are presented and future research directions are discussed.

Keywords: Location-routing problem, robust optimization, Stochastic Programming, variable neighborhood search.

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Authors: Eylem Koç, Hasan Arda Burhan

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Location selection presents a crucial decision problem in today’s business world where strategic decision making processes have critical importance. Thus, location selection has strategic importance for companies in boosting their strength regarding competition, increasing corporate performances and efficiency in addition to lowering production and transportation costs. A right choice in location selection has a direct impact on companies’ commercial success. In this study, a store location selection problem of Carglass Turkey which operates in vehicle glass branch is handled. As this problem includes both tangible and intangible criteria, Analytic Network Process (ANP) was accepted as the main methodology. The model consists of control hierarchy and BOCR subnetworks which include clusters of actors, alternatives and criteria. In accordance with the management’s choices, five different locations were selected. In addition to the literature review, a strict cooperation with the actor group was ensured and maintained while determining the criteria and during whole process. Obtained results were presented to the management as a report and its feasibility was confirmed accordingly.

Keywords: Analytic Network Process, BOCR, location selection, multi-actor decision making, multi-criteria decision making, real life problem.

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Authors: Chao Wang, Ting-Zhu Huang Chen Jia

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In this paper, we propose a new linear complementarity problem named as bi-linear complementarity problem (BLCP) and the method for solving BLCP. In addition, the algorithm for error estimation of BLCP is also given. Numerical experiments show that the algorithm is efficient.

Keywords: Bi-linear complementarity problem, Linear complementarity problem, Extended linear complementarity problem, Error estimation, P-matrix, M-matrix.

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Authors: Sukhveer Singh, Sandeep Singh

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A bi-objective fuzzy transportation problem with the objectives to minimize the total fuzzy cost and fuzzy time of transportation without according priorities to them is considered. To the best of our knowledge, there is no method in the literature to find efficient solutions of the bi-objective transportation problem under uncertainty. In this paper, a bi-objective transportation problem in an uncertain environment has been formulated. An algorithm has been proposed to find efficient solutions of the bi-objective transportation problem under uncertainty. The proposed algorithm avoids the degeneracy and gives the optimal solution faster than other existing algorithms for the given uncertain transportation problem.

Keywords: Transportation problem, efficient solution, ranking function, fuzzy transportation problem.

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Authors: M Nayeripour, E. Azad, A. Roosta, T. Niknam

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In this paper, the transformers over-load problem of Shiraz substation in Fars Regional Electric Company (FREC) is investigated for a period of three years plan. So the suggestions for using phase shifting transformer (PST) and unified power flow controller (UPFC) in order to solve this problem are examined in details and finally, some economical and practical designs will be given in order to solve the related problems. Practical consideration and using the basic and fundamental concept of powers in transmission lines in order to find the economical design are the main advantages of this research. The simulation results of the integrated overall system with different designs compare them base on economical and practical aspects to solve the over-load and loss-reduction.

Keywords: Congestion management, Phase shifting transformer(PST), Unified power flow controller (UPFC), Transmission lines.

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Authors: Yun Mi, Ko, Hye Jung, Joo

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This study develops a relation to explore the factors influencing management and technology capabilities in strategic alliances. Alliances between firms are recognizing increasingly popular as a vehicle to create and extract greater value from the market. Firm’s alliance can be described as the collaborative problem solving process to solve problems jointly. This study starts from research questions what factors of firm’s management and technology characteristics affect performance of firms which are formed alliances. In this study, we investigated the effect of strategic alliances on company performance. That is, we try to identify whether firms made an alliance with other organizations are differed by characteristics of management and technology. And we test that alliance type and alliance experiences moderate the relationship between firm’s capabilities and its performance. We employ problem-solving perspective and resource-based view perspective to shed light on this research questions. The empirical work is based on the Survey of Business Activities conducted from2006 to 2008 by Statistics Korea. We verify correlations between to point out that these results contribute new empirical evidence on the effect of strategic alliances on company performance.

Keywords: Problem solving process, strategic alliance.

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Authors: Kenza Aida Amara, Bachir Djebbar

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We treat the two-dimensional bin packing problem which involves packing a given set of rectangles into a minimum number of larger identical rectangles called bins. This combinatorial problem is NP-hard. We propose a pretreatment for the oriented version of the problem that allows the valorization of the lost areas in the bins and the reduction of the size problem. A heuristic method based on the strategy first-fit adapted to this problem is presented. We present an approach of resolution by bee colony optimization. Computational results express a comparison of the number of bins used with and without pretreatment.

Keywords: Bee colony optimization, bin packing, heuristic algorithm, pretreatment.

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Authors: Abdallah A. Hlayel

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Operations research science (OR) deals with good success in developing and applying scientific methods for problem solving and decision-making. However, by using OR techniques, we can enhance the use of computer decision support systems to achieve optimal management for institutions. OR applies comprehensive analysis including all factors that effect on it and builds mathematical modeling to solve business or organizational problems. In addition, it improves decision-making and uses available resources efficiently. The adoption of OR by universities would definitely contributes to the development and enhancement of the performance of OR techniques. This paper provides an understanding of the structures, approaches and models of OR in problem solving and decisionmaking.

Keywords: Best candidates' method, decision making, decision support system, operations research.

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Authors: Muhammad Jamil Khan, Muhammad Sharif Zia, Muhammad Qasim

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Insect pests are the major source of crop damage, yield and quality reduction in Pakistan and else where in the world. Cotton crop is the most hit crop in Pakistan followed by rice and the second most important foreign exchange earning crop. A wide variety of staple, horticultural and cash crops grown, reflect serious problems of many types of insect pests. To overcome the insect pest problem, pesticide use in Pakistan has increased substantially which has now been further intensified. Pesticides worth more than billions of rupees are imported every year. This paper reviews the over all pesticide use in Pakistan in relation to pesticide prices, support price of cotton and rice, pesticide use in different provinces of Pakistan on different crops and their impact on crop productivity. The environmental pollution caused by the use of pesticides, contamination of soil and water resources and the danger associated with the disposal of their empty containers is also discussed in detail.

Keywords: Pesticide use, crop productivity, environmentalpollution

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Authors: Richa Grover, Rahul Grover, V. Balaji Rao, Kavish Kejriwal

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Selection of suppliers is a crucial problem in the supply chain management. On top of that, sustainable supplier selection is the biggest challenge for the organizations. Environment protection and social problems have been of concern to society in recent years, and the traditional supplier selection does not consider about this factor; therefore, this research work focuses on introducing sustainable criteria into the structure of supplier selection criteria. Sustainable Supply Chain Management (SSCM) is the management and administration of material, information, and money flows, as well as coordination among business along the supply chain. All three dimensions - economic, environmental, and social - of sustainable development needs to be taken care of. Purpose of this research is to maximize supply chain profitability, maximize social wellbeing of supply chain and minimize environmental impacts. Problem statement is selection of suppliers in a sustainable supply chain network by ranking the suppliers against sustainable criteria identified. The aim of this research is twofold: To find out what are the sustainable parameters that can be applied to the supply chain, and to determine how these parameters can effectively be used in supplier selection. Multicriteria decision making tools will be used to rank both criteria and suppliers. AHP Analysis will be used to find out ratings for the criteria identified. It is a technique used for efficient decision making. TOPSIS will be used to find out rating for suppliers and then ranking them. TOPSIS is a MCDM problem solving method which is based on the principle that the chosen option should have the maximum distance from the negative ideal solution (NIS) and the minimum distance from the ideal solution.

Keywords: Sustainable supply chain management, supplier selection, MCDM tools, AHP analysis, TOPSIS method.

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Authors: Tsuyoshi Okita, Tatsuya Niwa

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For a given specific problem an efficient algorithm has been the matter of study. However, an alternative approach orthogonal to this approach comes out, which is called a reduction. In general for a given specific problem this reduction approach studies how to convert an original problem into subproblems. This paper proposes a formal modeling language to support this reduction approach. We show three examples from the wide area of learning problems. The benefit is a fast prototyping of algorithms for a given new problem.

Keywords: Formal language, statistical inference problem, reduction.

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Authors: Jagdeep Singh, Prem Singh

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Milk is considered as an essential and complete food. The present study was conducted at Milk Plant Mohali especially in reference to the procurement section where the cash inflow was maximum, with the objective to achieve higher productivity and reduce wastage of milk. In milk plant it was observed that during the month of Jan-2014 to March-2014 the average procurement of milk was Rs. 4, 19, 361 liter per month and cost of procurement of milk is Rs 35/- per liter. The total cost of procurement thereby equal to Rs. 1crore 46 lakh per month, but there was mismatch in procurementproduction of milk, which leads to an average loss of Rs. 12, 94, 405 per month. To solve the procurement-production problem Quality Control Tools like brainstorming, Flow Chart, Cause effect diagram and Pareto analysis are applied wherever applicable. With the successful implementation of Quality Control tools an average saving of Rs. 4, 59, 445 per month is done.

Keywords: Milk, Procurement-demand, quality control tools.

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Authors: M. Ahmad, M. Gourgand, C. Caux

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The Resource-Constrained Project Scheduling Problem (RCPSP) is concerned with single-item or small batch production where limited resources have to be allocated to dependent activities over time. Over the past few decades, a lot of work has been made with the use of optimal solution procedures for this basic problem type and its extensions. Brucker and Knust[1] discuss, how timetabling problems can be modeled as a RCPSP. Authors discuss high school timetabling and university course timetabling problem as an example. We have formulated two mathematical formulations of course timetabling problem in a new way which are the prototype of single-mode RCPSP. Our focus is to show, how course timetabling problem can be transformed into RCPSP. We solve this transformation model with genetic algorithm.

Keywords: Course Timetabling, Integer programming, Combinatorial optimizations

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Authors: Nicolas Zufferey

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The vehicle routing problem (VRP) is a famous combinatorial optimization problem. Because of its well-known difficulty, metaheuristics are the most appropriate methods to tackle large and realistic instances. The goal of this paper is to highlight the key ideas for designing VRP metaheuristics according to the following criteria: efficiency, speed, robustness, and ability to take advantage of the problem structure. Such elements can obviously be used to build solution methods for other combinatorial optimization problems, at least in the deterministic field.

Keywords: Vehicle routing problem, Metaheuristics, Combinatorial optimization.

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Authors: Sun-Hee Han, Hun-Jung Lim, Tai-Myoung Chung

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Vehicular Ad-Hoc Networks (VANET) can provide communications between vehicles or infrastructures. It provides the convenience of driving and the secure driving to reduce accidents. In VANET, the security is more important because it is closely related to accidents. Additionally, VANET raises a privacy issue because it can track the location of vehicles and users- identity when a security mechanism is provided. In this paper, we analyze the problem of an existing solution for security requirements required in VANET, and resolve the problem of the existing method when a key management mechanism is provided for the security operation in VANET. Therefore, we show suitability of the Long Term Evolution (LTE) in VANET for the solution of this problem.

Keywords: VANET, Privacy, Security, LTE

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Authors: Ghulam Haider Haidaree, Nsenda Lukumwena

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Most developing nations face energy production and supply problems. This is also the case of Afghanistan whose generating capacity does not meet its energy demand. This is due in part to high security and risk caused by war which deters foreign investments and insufficient internal revenue. To address the issue above, this paper would like to suggest an alternative and affordable way to deal with the energy problem. That is by converting Solid Waste to energy. As a result, this approach tackles the municipal solid waste issue (potential cause of several diseases), contributes to the improvement of the quality of life, local economy, and so on. While addressing the solid waste problem in general, this paper samples specifically one municipality which is District-12, one of the 22 districts of Kabul city. Using geographic information system (GIS) technology, District-12 is divided into nine different zones whose municipal solid waste is respectively collected, processed, and converted into electricity and distributed to the closest area. It is important to mention that GIS has been used to estimate the amount of electricity to be distributed and to optimally position the production plant.

Keywords: Energy problem, estimation of electricity, GIS zones, solid waste management system.

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Authors: Mohammed Salem Alzahrani

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In this paper the optimality of the solution of an existing real word assignment problem known as the seat assignment problem using Seat Assignment Method (SAM) is discussed. SAM is the newly driven method from three existing methods, Hungarian Method, Northwest Corner Method and Least Cost Method in a special way that produces the easiness & fairness among all methods that solve the seat assignment problem.

Keywords: Assignment Problem, Hungarian Method, Least Cost Method, Northwest Corner Method, Seat Assignment Method (SAM), A Real Word Assignment Problem.

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Authors: Mhand Hifi, Hedi Mhalla, Mustapha Michaphy

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In this paper, we study the multi-scenario knapsack problem, a variant of the well-known NP-Hard single knapsack problem. We investigate the use of an adaptive algorithm for solving heuristically the problem. The used method combines two complementary phases: a size reduction phase and a dynamic 2- opt procedure one. First, the reduction phase applies a polynomial reduction strategy; that is used for reducing the size problem. Second, the adaptive search procedure is applied in order to attain a feasible solution Finally, the performances of two versions of the proposed algorithm are evaluated on a set of randomly generated instances.

Keywords: combinatorial optimization, max-min optimization, knapsack, heuristics, problem reduction

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