Search results for: transaction costs.

Authors: Tomas Cechura, Michal Simon

Abstract:

The aim of this paper is to create a proposal for determining the costs of logistics processes by using process-oriented calculation methods. The traditional approach is that logistics costs are part of manufacturing overhead which is usually calculated as a percentage surcharge. Therefore in the traditional approach it is not obvious where and in which activities costs were incurred. So it is impossible to trace logistics costs to products. Our point of view is trying to fix or at least improve this issue. Another benefit of applying the process approach is identification of logistics processes which are otherwise part of manufacturing overhead. In the first part this paper describes the development of process-oriented methods over time. The next part shows the possibility of implementing the process-oriented method called Prozesskostenrechnung to logistics processes. The conclusion summarizes advantages and disadvantages of using this method in logistics.

Keywords: Cost, logistics, calculation, process-oriented method.

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Authors: Toshihiko Sasama, Kentaro Kishida, Kazunori Sugahara, Hiroshi Masuyama

Abstract:

A mobile ad hoc network is a network of mobile nodes without any notion of centralized administration. In such a network, each mobile node behaves not only as a host which runs applications but also as a router to forward packets on behalf of others. Clustering has been applied to routing protocols to achieve efficient communications. A CH network expresses the connected relationship among cluster-heads. This paper discusses the methods for constructing a CH network, and produces the following results: (1) The required running costs of 3 traditional methods for constructing a CH network are not so different from each other in the static circumstance, or in the dynamic circumstance. Their running costs in the static circumstance do not differ from their costs in the dynamic circumstance. Meanwhile, although the routing costs required for the above 3 methods are not so different in the static circumstance, the costs are considerably different from each other in the dynamic circumstance. Their routing costs in the static circumstance are also very different from their costs in the dynamic circumstance, and the former is one tenths of the latter. The routing cost in the dynamic circumstance is mostly the cost for re-routing. (2) On the strength of the above results, we discuss new 2 methods regarding whether they are tolerable or not in the dynamic circumstance, that is, whether the times of re-routing are small or not. These new methods are revised methods that are based on the traditional methods. We recommended the method which produces the smallest routing cost in the dynamic circumstance, therefore producing the smallest total cost.

Keywords: cluster, mobile ad hoc network, re-routing cost, simulation

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Authors: Jian Yao, Chengwen Yan

Abstract:

Solar shading designs are important for reduction of building energy consumption and improvement of indoor thermal environment. This paper carried out a number of building simulations for evaluation of the energy performance of different shading devices based on incremental costs. The results show that movable shading devices lower incremental costs by up to 50% compared with fixed ones for the same building energy efficiency for residential buildings, and wing panel shadings are much more suitable in commercial buildings than baring screen ones and overhangs for commercial buildings.

Keywords: Solar shading, Incremental costs, Building energy consumption.

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Authors: Patrick T. I. Lam, Wenjing Yang

Abstract:

A smart city project embraces benefits and costs which can be classified under direct and indirect categories. Externalities come into the picture, but they are often difficult to quantify. Despite this barrier, policy makers need to carry out cost-benefit analysis to justify the huge investments needed to make a city smart. The recent trend is towards the engagement of the private sector to utilize their resources and expertise, especially in the Information and Communication Technology (ICT) areas, where innovations blossom. This study focuses on the identification of costs (on a life cycle basis) and benefits associated with smart city project developments based on a comprehensive literature review and case studies, where public-private partnerships would warrant consideration, the related costs and benefits are highlighted. The findings will be useful for policy makers of cities.

Keywords: Costs and benefits, identification, public-private partnerships, smart city projects.

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Authors: Juha Kettunen

Abstract:

The study analyzes the quality and the size of the strategic network of higher education institutions and the concept of fitness for purpose in quality assurance. It also analyses the transaction costs of networking that have consequences on the number of members in the network. Empirical evidence is presented from the Consortium on Applied Research and Professional Education, which is a European strategic network of six higher education institutions. The results of the study support the argument that the number of members in the strategic network should be relatively small to provide high-quality results. The practical importance is that networking has been able to promote international research and development projects. The results of this study are important for those who want to design and improve international networks in higher education.

Keywords: Higher education, network, research and development, strategic management.

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Authors: Pradip Kundu, Samarjit Kar, Manoranjan Maiti

Abstract:

In this paper, some practical solid transportation models are formulated considering per trip capacity of each type of conveyances with crisp and rough unit transportation costs. This is applicable for the system in which full vehicles, e.g. trucks, rail coaches are to be booked for transportation of products so that transportation cost is determined on the full of the conveyances. The models with unit transportation costs as rough variables are transformed into deterministic forms using rough chance constrained programming with the help of trust measure. Numerical examples are provided to illustrate the proposed models in crisp environment as well as with unit transportation costs as rough variables.

Keywords: Solid transportation problem, Rough set, Rough variable, Trust measure.

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Authors: Efat Lali Dastjerdi, Hassan Sadeghi Naeini, Hadi Sanjari

Abstract:

One of the important steps in a safety and risk management system is the economical evaluation of occupational accident and diseases costs in order to decrease accidents from reoccurring in the workplace. This study proposed a plausible method for calculating occupational accident costs and illnesses in work place. This method design for cost estimation takes into account both the personnel, organizational level as well as the community level especially intended for an Iranian work place. The research indicates that a using systematic method for calculating costs which also provides risk evaluation can help managers to plan correctly the investment in health and safety measures. Using this method is that not only is it comprehensive, easy and practical and could be applied in practice by a manager within a short period of time but it also shows the importance of accident costs as well as calculates the real cost of an accident and illnesses.

Keywords: ost calculating model, Economics of health and Safety.

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Authors: Juha Kettunen

Abstract:

This study analyzes the quality and the size of the strategic network of higher education institutions. The study analyses the concept of fitness for purpose in quality assurance. It also analyses the transaction costs of networking that have consequences on the number of members in the network. Empirical evidence is presented of the Consortium on Applied Research and Professional Education, which is a European strategic network of six higher education institutions. The results of the study support the argument that the number of members in the strategic network should be relatively small to provide high quality results. The practical importance is that networking has been able to promote international research and development projects. The results of this study are important for those who want to design and improve international networks in higher education.

Keywords: Higher education, network, research and development, strategic management.

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Authors: Samuel Kaspi, Sitalakshmi Venkatraman

Abstract:

In-memory database systems are becoming popular due to the availability and affordability of sufficiently large RAM and processors in modern high-end servers with the capacity to manage large in-memory database transactions. While fast and reliable inmemory systems are still being developed to overcome cache misses, CPU/IO bottlenecks and distributed transaction costs, disk-based data stores still serve as the primary persistence. In addition, with the recent growth in multi-tenancy cloud applications and associated security concerns, many organisations consider the trade-offs and continue to require fast and reliable transaction processing of diskbased database systems as an available choice. For these organizations, the only way of increasing throughput is by improving the performance of disk-based concurrency control. This warrants a hybrid database system with the ability to selectively apply an enhanced disk-based data management within the context of inmemory systems that would help improve overall throughput. The general view is that in-memory systems substantially outperform disk-based systems. We question this assumption and examine how a modified variation of access invariance that we call enhanced memory access, (EMA) can be used to allow very high levels of concurrency in the pre-fetching of data in disk-based systems. We demonstrate how this prefetching in disk-based systems can yield close to in-memory performance, which paves the way for improved hybrid database systems. This paper proposes a novel EMA technique and presents a comparative study between disk-based EMA systems and in-memory systems running on hardware configurations of equivalent power in terms of the number of processors and their speeds. The results of the experiments conducted clearly substantiate that when used in conjunction with all concurrency control mechanisms, EMA can increase the throughput of disk-based systems to levels quite close to those achieved by in-memory system. The promising results of this work show that enhanced disk-based systems facilitate in improving hybrid data management within the broader context of in-memory systems.

Keywords: Concurrency control, disk-based databases, inmemory systems, enhanced memory access (EMA).

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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: Perumal Nallagownden, Ravindra N. Mukerjee, Syafrudin Masri

Abstract:

In a competitive energy market, system reliability should be maintained at all times. Power system operation being of online in nature, the energy balance requirements must be satisfied to ensure reliable operation the system. To achieve this, information regarding the expected status of the system, the scheduled transactions and the relevant inputs necessary to make either a transaction contract or a transmission contract operational, have to be made available in real time. The real time procedure proposed, facilitates this. This paper proposes a quadratic curve learning procedure, which enables a generator-s contribution to the retailer demand, power loss of transaction in a line at the retail end and its associated losses for an oncoming operating scenario to be predicted. Matlab program was used to test in on a 24-bus IEE Reliability Test System, and the results are found to be acceptable.

Keywords: Deregulation, learning coefficients, reliability, prediction, competitive energy market.

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Authors: S. B. Jaju, R. R. Lakhe

Abstract:

Quality costs are the costs associated with preventing, finding, and correcting defective work. Since the main language of corporate management is money, quality-related costs act as means of communication between the staff of quality engineering departments and the company managers. The objective of quality engineering is to minimize the total quality cost across the life of product. Quality costs provide a benchmark against which improvement can be measured over time. It provides a rupee-based report on quality improvement efforts. It is an effective tool to identify, prioritize and select quality improvement projects. After reviewing through the literature it was noticed that a simplified methodology for data collection of quality cost in a manufacturing industry was required. The quantified standard methodology is proposed for collecting data of various elements of quality cost categories for manufacturing industry. Also in the light of research carried out so far, it is felt necessary to standardise cost elements in each of the prevention, appraisal, internal failure and external failure costs. . Here an attempt is made to standardise the various cost elements applicable to manufacturing industry and data is collected by using the proposed quantified methodology. This paper discusses the case study carried in luggage manufacturing industry.

Keywords: Quality Costs, PAF model, quantified methodology, Case study.

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Authors: Khaled S. Abdallah, Abdel-Aziz M. Mohamed

Abstract:

Moving industries consume numerous resources and dispose masses of used packaging materials. Proper sorting, recycling and disposing the packaging materials is necessary to avoid a sever pollution disaster. This research paper presents a conceptual model to propose sustainable truck rental operations instead of the regular one. An optimization model was developed to select the locations of truck rental centers, collection sites, maintenance and repair sites, and identify the rental fees to be charged for all routes that maximize the total closed supply chain profits. Fixed costs of vehicle purchasing, costs of constructing collection centers and repair centers, as well as the fixed costs paid to use disposal and recycling centers are considered. Operating costs include the truck maintenance, repair costs as well as the cost of recycling and disposing the packing materials, and the costs of relocating the truck are presented in the model. A mixed integer model is developed followed by a simulation model to examine the factors affecting the operation of the model.

Keywords: Modeling, truck rental, supply chains management, simulation.

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Authors: H. L. Yim, S. H. Lee, S. K. Yoo, J. J. Kim

Abstract:

This study proposes a materials procurement contracts model to which the zero-cost collar option is applied for heading price fluctuation risks in construction.The material contract model based on the collar option that consists of the call option striking zone of the construction company(the buyer) following the materials price increase andthe put option striking zone of the material vendor(the supplier) following a materials price decrease. This study first determined the call option strike price Xc of the construction company by a simple approach: it uses the predicted profit at the project starting point and then determines the strike price of put option Xp that has an identical option value, which completes the zero-cost material contract.The analysis results indicate that the cost saving of the construction company increased as Xc decreased. This was because the critical level of the steel materials price increasewas set at a low level. However, as Xc decreased, Xpof a put option that had an identical option value gradually increased. Cost saving increased as Xc decreased. However, as Xp gradually increased, the risk of loss from a construction company increased as the steel materials price decreased. Meanwhile, cost saving did not occur for the construction company, because of volatility. This result originated in the zero-cost features of the two-way contract of the collar option. In the case of the regular one-way option, the transaction cost had to be subtracted from the cost saving. The transaction cost originated from an option value that fluctuated with the volatility. That is, the cost saving of the one-way option was affected by the volatility. Meanwhile, even though the collar option with zero transaction cost cut the connection between volatility and cost saving, there was a risk of exercising the put option.

Keywords: Construction materials, Supply chain management, Procurement, Payment, Collar option

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Authors: Dragan D. Stamenkovic, Vladimir M. Popovic

Abstract:

Warranty is a powerful marketing tool for the manufacturer and a good protection for both the manufacturer and the customer. However, warranty always involves additional costs to the manufacturer, which depend on product reliability characteristics and warranty parameters. This paper presents an approach to optimisation of warranty parameters for known product failure distribution to reduce the warranty costs to the manufacturer while retaining the promotional function of the warranty. Combination free replacement and pro-rata warranty policy is chosen as a model and the length of free replacement period and pro-rata policy period are varied, as well as the coefficients that define the pro-rata cost function. Multiparametric warranty optimisation is done by using genetic algorithm. Obtained results are guideline for the manufacturer to choose the warranty policy that minimises the costs and maximises the profit.

Keywords: costs, genetic algorithm, optimisation, warranty.

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Authors: Pei-Hsing Huang, Wei-Ju Huang

Abstract:

Investment casting is commonly used in the production of metallic components with complex shapes, due to its high dimensional precision, good surface finish, and low cost. However, the process is cumbersome, and the period between trial casting and final production can be very long, thereby limiting business opportunities and competitiveness. In this study, we replaced conventional wax injection with stereolithography (SLA) 3D printing to speed up the trial process and reduce costs. We also used silicone molds to further reduce costs to avoid the high costs imposed by photosensitive resin.

Keywords: Investment casting, stereolithography, wax molding, 3D printing.

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Authors: Y. Djouadi., F. Souam.

Abstract:

Most of the existing text mining approaches are proposed, keeping in mind, transaction databases model. Thus, the mined dataset is structured using just one concept: the “transaction", whereas the whole dataset is modeled using the “set" abstract type. In such cases, the structure of the whole dataset and the relationships among the transactions themselves are not modeled and consequently, not considered in the mining process. We believe that taking into account structure properties of hierarchically structured information (e.g. textual document, etc ...) in the mining process, can leads to best results. For this purpose, an hierarchical associations rule mining approach for textual documents is proposed in this paper and the classical set-oriented mining approach is reconsidered profits to a Direct Acyclic Graph (DAG) oriented approach. Natural languages processing techniques are used in order to obtain the DAG structure. Based on this graph model, an hierarchical bottom up algorithm is proposed. The main idea is that each node is mined with its parent node.

Keywords: Graph based association rules mining, Hierarchical document structure, Text mining.

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Authors: Shabrina Pritta Radyanti, Harimukti Wandebori

Abstract:

A research study was conducted with an objective to propose a collaborative business strategy of a oil and gas trading company, representing PPT Energy Trading Co., Ltd., with its shareholder, especially electricity and power supply companies for LNG Form of Coal Bed Methane in B2B Transaction. Collaborative business strategy is a strategy to collaborate with other organizations due to have future benefits in both parties, or achieve the business objective through the collaboration of business, its strategy and partners. A structured interview was established to collect the required primary data from the company. Not only interview, but also company’s business plan and annual report were collected and analyzed for the company’s current condition. As the result, this research shows a recommendation to propose a new collaborative strategy with limiting its target market, diversifying product, conducting new business model, and considering other stakeholders.

Keywords: collaborative business strategy, trading company, LNG, coal bed methane

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Authors: G.Kavitha, V.Sankaranarayanan

Abstract:

Grid computing provides a virtual framework for controlled sharing of resources across institutional boundaries. Recently, trust has been recognised as an important factor for selection of optimal resources in a grid. We introduce a new method that provides a quantitative trust value, based on the past interactions and present environment characteristics. This quantitative trust value is used to select a suitable resource for a job and eliminates run time failures arising from incompatible user-resource pairs. The proposed work will act as a tool to calculate the trust values of the various components of the grid and there by improves the success rate of the jobs submitted to the resource on the grid. The access to a resource not only depend on the identity and behaviour of the resource but also upon its context of transaction, time of transaction, connectivity bandwidth, availability of the resource and load on the resource. The quality of the recommender is also evaluated based on the accuracy of the feedback provided about a resource. The jobs are submitted for execution to the selected resource after finding the overall trust value of the resource. The overall trust value is computed with respect to the subjective and objective parameters.

Keywords: access control, feedback, grid computing, reputation, security, trust, trust parameter.

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Authors: S. Dehghan, B. Kiani, A. Kazemi, A. Parizad

Abstract:

The utilization of renewable energy sources in electric power systems is increasing quickly because of public apprehensions for unpleasant environmental impacts and increase in the energy costs involved with the use of conventional energy sources. Despite the application of these energy sources can considerably diminish the system fuel costs, they can also have significant influence on the system reliability. Therefore an appropriate combination of the system reliability indices level and capital investment costs of system is vital. This paper presents a hybrid wind/photovoltaic plant, with the aim of supplying IEEE reliability test system load pattern while the plant capital investment costs is minimized by applying a hybrid particle swarm optimization (PSO) / harmony search (HS) approach, and the system fulfills the appropriate level of reliability.

Keywords: Distributed Generation, Fuel Cell, HS, Hybrid Power Plant, PSO, Photovoltaic, Reliability.

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Authors: B. Fahimnia, L.H.S. Luong, R. M. Marian

Abstract:

The Aggregate Production Plan (APP) is a schedule of the organization-s overall operations over a planning horizon to satisfy demand while minimizing costs. It is the baseline for any further planning and formulating the master production scheduling, resources, capacity and raw material planning. This paper presents a methodology to model the Aggregate Production Planning problem, which is combinatorial in nature, when optimized with Genetic Algorithms. This is done considering a multitude of constraints of contradictory nature and the optimization criterion – overall cost, made up of costs with production, work force, inventory, and subcontracting. A case study of substantial size, used to develop the model, is presented, along with the genetic operators.

Keywords: Aggregate Production Planning, Costs, and Optimization.

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Authors: Š. Čemerková, M. Wilczková

Abstract:

The paper deals with the importance of information flow for providing of defined level of customer service in the firms. Setting of the criteria for the selection and implementation of logistics information system is a prerequisite for ensuring of the flow of information in firms. The decision on the selection and implementation of logistics information system is linked to the investment costs and operating costs, which are included in the total logistics costs. The article also deals with the conclusions of the research focused on the logistics information system selection in companies in the Czech Republic.

Keywords: Customer service, information system, logistics, research.

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Authors: AbdulLateef A. Olanrewaju, Arazi Idrus, Mohd F. Khamidi

Abstract:

Maintenance costs incurred on building differs. The difference can be as results of the types, functions, age, building health index, size, form height, location and complexity of the building. These are contributing to the difficulty in maintenance development of deterministic maintenance cost model. This paper is concerns with reporting the preliminary findings on the creation of building maintenance cost distributions for universities in Malaysia. This study is triggered by the need to provide guides on maintenance costs distributions for decision making. For this purpose, a survey questionnaire was conducted to investigate the distribution of maintenance costs in the universities. Altogether, responses were received from twenty universities comprising both private and publicly owned. The research found that engineering services, roofing and finishes were the elements contributing the larger segment of the maintenance costs. Furthermore, the study indicates the significance of maintenance cost distribution as decision making tool towards maintenance management.

Keywords: Performance matrix, university buildings, costmodel, Malaysia

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Authors: Anna Dolinayova, Jozef Danis, Juraj Camaj

Abstract:

The report deals with comparison of traffic accidents in Slovak republic in road and rail transport since 2009 until 2014, with evaluation of external costs and consequently with the possibilities of their internalization. The results of road traffic accidents analysis are realized in line with after-effects they have caused; in line with main cause, place of origin (within or out of town) and in accordance to age of accident´s victims and kind of injuries (easy, hard or fatal). Evaluation of individual after-effects is carried in terms of probability of traffic accidents occurrence.

Keywords: External costs, traffic accident, rail transport, road transport.

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Authors: Stefaan Pauwels, Koen Inghelbrecht, Dries Heyman, Pieter Marius

Abstract:

Literature reveals that many investors rely on technical trading rules when making investment decisions. If stock markets are efficient, one cannot achieve superior results by using these trading rules. However, if market inefficiencies are present, profitable opportunities may arise. The aim of this study is to investigate the effectiveness of technical trading rules in 34 emerging stock markets. The performance of the rules is evaluated by utilizing White-s Reality Check and the Superior Predictive Ability test of Hansen, along with an adjustment for transaction costs. These tests are able to evaluate whether the best model performs better than a buy-and-hold benchmark. Further, they provide an answer to data snooping problems, which is essential to obtain unbiased outcomes. Based on our results we conclude that technical trading rules are not able to outperform a naïve buy-and-hold benchmark on a consistent basis. However, we do find significant trading rule profits in 4 of the 34 investigated markets. We also present evidence that technical analysis is more profitable in crisis situations. Nevertheless, this result is relatively weak.

Keywords: technical trading rules, Reality Check, Superior Predictive Ability, emerging stock markets, data snooping

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Authors: Satjaporn Tungsong, Gun Srijuntongsiri

Abstract:

This research seeks to investigate the frequency and profitability of index arbitrage opportunities involving the SET50 futures, SET50 component stocks, and the ThaiDEX SET50 ETF (ticker symbol: TDEX). In particular, the frequency and profit of arbitrage are measured in the following three arbitrage tests: (1) SET50 futures vs. ThaiDEX SET50 ETF, (2) SET50 futures vs. SET50 component stocks, and (3) ThaiDEX SET50 ETF vs. SET50 component stocks are investigated. For tests (2) and (3), the problems involve conic optimization and quadratic programming as subproblems. This research is first to apply conic optimization and quadratic programming techniques in the context of index arbitrage and is first to investigate such index arbitrage in the Thai equity and derivatives markets. Thus, the contribution of this study is twofold. First, its results would help understand the contribution of the derivatives securities to the efficiency of the Thai markets. Second, the methodology employed in this study can be applied to other geographical markets, with minor adjustments.

Keywords: Conic optimization, Equity index arbitrage, Executionlags, Quadratic programming, SET50 index futures, ThaiDEX SET50ETF, Transaction costs

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Authors: Abdullah Alotaiq

Abstract:

The transition to low-carbon power generation is essential for mitigating climate change and achieving sustainability. This process, however, entails considerable costs, and understanding the factors influencing these costs is critical. This is necessary to cater to the increasing demand for low-carbon electricity across heating, industry, and transportation sectors. A crucial aspect of this transition is identifying cost-effective and feasible paths for decarbonization, which is integral to global climate mitigation efforts. It is concluded that hybrid solutions, combining different low-carbon technologies, are optimal for minimizing costs and enhancing flexibility. These solutions also address the challenges associated with phasing out existing fossil fuel-based power plants and broadening the spectrum of low-carbon power generation options.

Keywords: Review, power generation, energy transition, decarbonization.

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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.

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Authors: Mouna Benfssahi, Zoubir El Felsoufi

Abstract:

For many enterprises, the delocalization of a part or the totality of their supply chain to low cost countries is the best way to reduce costs and remain competitive against the growing globalized market. This new tendency is driven by logistics advantages, as well as, financial and tax discount offered by the host countries. The objective of this article is to examine the new financial challenges introduced by the project of base erosion and profits shifting (BEPS), published in 2015, and also their impact on the decision of delocalization. In fact, the strategy adopted by multinational firms for determining the transfer price (TP) of goods and services, as well as the shared amount of revenues and expenses have a major impact upon group profit and may contribute to divergent results. In order to get more profit, a coherent decision of delocalization should be based on an evaluation of all the operational and financial characteristics associated with such movement. Therefore, it is interesting to model these new constraints and integrate them in a more global decision model. The established model will enable to measure how much these financial constraints impact the decision of delocalization and will give new helpful directives for enterprise managers.

Keywords: Delocalization, intragroup transaction, multinational firms, optimization model, supply chain management, transfer pricing.

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Authors: Zuzana Crhová, Marie Paseková

Abstract:

This contribution aims to compare legislation adjusting the course of insolvency proceedings in France, Germany and Slovakia. On the basis of an investigation of the legislative adjustment of this problem, an attempt is made to ascertain in the given countries the extent to which the outcome of the entire proceedings is influenced by legislation and to determine the fundamental moments that influence costs, recovery rate and the duration of proceedings. A comparative analysis was utilized in order to achieve the set goal. The results of the survey could be used to improve legislation so as to lead in the best and most expedient way to a departure from the market of those subjects that are for economic reasons unable to continue with their activities whilst burdening the entire process with the lowest possible costs, which would lead to a high level of satisfaction for creditors. 

Keywords: Costs, Insolvency Proceeding, Recovery Rate, Time.

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