Search results for: manufacturing sector
824 An Automated Approach for Assembling Modular Fixtures Using SolidWorks
Authors: Uday Hameed Farhan, Majid Tolouei-Rad, Simona O'Brien
Abstract:
Modular fixtures (MFs) are very important tools in manufacturing processes in terms of reduction the cost and the production time. This paper introduces an automated approach for assembling MFs elements by employing SolidWorks as a powerful 3D CAD software. Visual Basic (VB) programming language was applied integrating with SolidWorks API (Application programming interface) functions. This integration allowed creating plug-in file and generating new menus in the SolidWorks environment. The menus allow the user to select, insert, and assemble MFs elements.Keywords: Assembly automation, modular fixtures, SolidWorks, Visual Basic.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2763823 Automation of Packing Cell in Fresh Fish Facilities
Authors: Omid Mirmotahari, Yngvar Berg, Mats Hovin
Abstract:
The problem discussed in this paper involves packing fresh fish fileet of the northern Cod into a standard square container. The fish is first cleaned and split and then collected on a belt ready to be stacked in a container. The aim of our work is to pack the fish into the container with constraints on the amount of overlap allowed for the fileets. The current focus is to design a packing cell that can be real-time and of practical use, while finding the optimal solution to the degree of overlap and minimise the unused space of the container.
Keywords: Facilities Planning and Management, Intelligent Systems, Manufacturing Systems, Operations Research, Production Planning and Control.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1626822 Developing Islamic Tourism in Kazakhstan: A Result of a Religious Revival or a New Trend of Tourism
Authors: A. A. Mustafayeva, G. E. Nadirova, Sh. S. Kaliyeva, B. Zh. Aktaulova
Abstract:
all of religions free towards society in Kazakhstan. Considering that Islam is more widespread religion in the region, Islamic industry is developing sector of Economy. There are some new sectors of Halal (Islamic) industry, which have importance for state developing on the whole. One of the youngest sectors of Halal industry is Islamic tourism, which became an object of disputes and led to dilemma, such as Islamic tourism is a result of a Religious revival and Islamic tourism is a new trend of Tourism. The paper was written under the research project “Islam in modern Kazakhstan: the nature and outcome of the religious revival".
Keywords: Halal industry, Islamic tourism, pillars, pilgrims.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2894821 A Comparative Analysis of Activity-Based Costing and Traditional Costing
Authors: Derya Eren Akyol, Gonca Tuncel, G. Mirac Bayhan
Abstract:
Activity-Based Costing (ABC) which has become an important aspect of manufacturing/service organizations can be defined as a methodology that measures the cost and performance of activities, resources and cost objects. It can be considered as an alternative paradigm to traditional cost-based accounting systems. The objective of this paper is to illustrate an application of ABC method and to compare the results of ABC with traditional costing methods. The results of the application highlight the weak points of traditional costing methods and an S-Curve obtained is used to identify the undercosted and overcosted products of the firm.
Keywords: Activity-based costing, cost drivers, overheads, traditional costing.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12596820 The Role of Medical Expert Systems in Pakistan
Authors: Fahad Shahbaz Khan, Fahad Maqbool, Saad Razzaq, Kashif Irfan, Tehseen Zia
Abstract:
Expert systems are used extensively in many domains. This paper discusses the use of medical expert systems in Pakistan. Countries all over the world pay special attention on health facilities. A country like Pakistan faces a lot of trouble in health sector. Several attempts have been made in Pakistan to improve the health conditions of the people but the situation is still not encouraging. There is a shortage of doctors and other trained personnel in Pakistan. Expert systems can play a vital role in such cases where the medical expert is not readily available. The purpose of this paper is to analyze the role that such systems can play in improving the health conditions of the people in Pakistan.Keywords: Medical Diagnostics, Expert Systems, Pakistan.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2071819 Theoretical Review on Influencing Factors in the Design of Parabolic Trough Collector
Authors: S. N. Vijayan, S. Sendhil Kumar
Abstract:
Recent years have an upward trend in the research of renewable energy sector, due to the low availability of resources and huge consumption of conventional energies. Considerable renewable energy can be achieved from the available solar power with the utilization of collecting systems. Parabolic trough concentrating collector systems are mostly used to utilize maximum availability of solar power. This paper reviews the contributing factors for the overall performance of parabolic trough collectors. Its performance depends on the operating parameters such as the type of receiver and the collector material, medium of heat transfer, type of application and various climatic conditions.Keywords: Solar radiation, parabolic trough collector, thermal analysis, efficiency.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1004818 Passive Solar Techniques to Improve Thermal Comfort and Reduce Energy Consumption of Domestic Use
Authors: Naci Kalkan, Ihsan Dagtekin
Abstract:
Passive design responds to improve indoor thermal comfort and minimize the energy consumption. The present research analyzed the how efficiently passive solar technologies generate heating and cooling and provide the system integration for domestic applications. In addition to this, the aim of this study is to increase the efficiency of solar systems system with integration some innovation and optimization. As a result, outputs of the project might start a new sector to provide environmentally friendly and cheap cooling for domestic use.Keywords: Passive Solar Systems, Heating, Cooling, Thermal Comfort, Ventilation Systems.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1653817 An Overview of Issues to Consider Before Introducing Performance-Based Road Maintenance Contracting
Authors: M. Sultana, A. Rahman, S. Chowdhury
Abstract:
Road authorities have confronted problems to maintaining the serviceability of road infrastructure systems by using various traditional methods of contracting. As a solution to these problems, many road authorities have started contracting out road maintenance works to the private sector based on performance measures. This contracting method is named Performance-Based Maintenance Contracting (PBMC). It is considered more costeffective than other traditional methods of contracting. It has a substantial success records in many developed and developing countries over the last two decades. This paper discusses and analyses the potential issues to be considered before the introduction of PBMC in a country.Keywords: Contracting, Performance-Based Maintenance, Road infrastructure
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1740816 Requirements Management as a Competitive Factor in the it Mid Tier Business Concerning the Implementation of Erp-Software
Authors: Oliver Grün
Abstract:
The success of IT-projects concerning the implementation of business application Software is strongly depending upon the application of an efficient requirements management, to understand the business requirements and to realize them in the IT. But in fact, the Potentials of the requirements management are not fully exhausted by small and medium sized enterprises (SME) of the IT sector. To work out recommendations for action and furthermore a possible solution, allowing a better exhaust of potentials, it shall be examined in a scientific research project, which problems occur out of which causes. In the same place, the storage of knowledge from the requirements management, and its later reuse are important, to achieve sustainable improvements of the competitive of the IT-SMEs. Requirements Engineering is one of the most important topics in Product Management for Software to achieve the goal of optimizing the success of the software product.Keywords: ERP, Requirements Management
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1124815 Statistical Computational of Volatility in Financial Time Series Data
Authors: S. Al Wadi, Mohd Tahir Ismail, Samsul Ariffin Abdul Karim
Abstract:
It is well known that during the developments in the economic sector and through the financial crises occur everywhere in the whole world, volatility measurement is the most important concept in financial time series. Therefore in this paper we discuss the volatility for Amman stocks market (Jordan) for certain period of time. Since wavelet transform is one of the most famous filtering methods and grows up very quickly in the last decade, we compare this method with the traditional technique, Fast Fourier transform to decide the best method for analyzing the volatility. The comparison will be done on some of the statistical properties by using Matlab program.Keywords: Fast Fourier transforms, Haar wavelet transform, Matlab (Wavelet tools), stocks market, Volatility.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2298814 A Strategy to Optimize the SPC Scheme for Mass Production of HDD Arm with ClusteringTechnique and Three-Way Control Chart
Authors: W. Chattinnawat
Abstract:
Consider a mass production of HDD arms where hundreds of CNC machines are used to manufacturer the HDD arms. According to an overwhelming number of machines and models of arm, construction of separate control chart for monitoring each HDD arm model by each machine is not feasible. This research proposed a strategy to optimize the SPC management on shop floor. The procedure started from identifying the clusters of the machine with similar manufacturing performance using clustering technique. The three way control chart ( I - MR - R ) is then applied to each clustered group of machine. This proposed research has advantageous to the manufacturer in terms of not only better performance of the SPC but also the quality management paradigm.Keywords: Three way control chart. I - MR - R , between/within variation, HDD arm.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1623813 Evolution of Autonomous Vehicles and Advanced Automated Car Parking Development
Authors: Kwok Tak Kit
Abstract:
The trend of autonomous vehicles is the future solution to road networks congestion in terms of their advanced ability to drive closer together and at higher speeds than humans can do safely. Infrastructure sector can drive the economic prosperity and provide a balance and inclusive growth of sustainable economy development. In this paper, the road infrastructure and the future development of electric car, self-driving of autonomous vehicles and the increasing demand of automated car parking system are critically revised and this paper aims to provide the insight and achieve better sustainable infrastructure and community in smart city.
Keywords: Autonomous vehicles, sustainable infrastructure, real time parking, automated car parking.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 446812 Farm Diversification and the Corresponding Policy for Its Implementation in Georgia
Authors: E. Kharaishvili
Abstract:
The paper shows the necessity of farm diversification in accordance with the current trends in agricultural sector of Georgia. The possibilities for the diversification and the corresponding economic policy are suggested. The causes that hinder diversification of farms are revealed, possibilities of diversification are identified and the ability of increasing employment through diversification is proved. Index of harvest diversification is calculated based on the areas used for cereals and legumes, potatoes and vegetables and other food crops. Crop and livestock production indexes are analyzed; correlation between crop capacity index and value added per worker and per hectare is studied. Based on the research farm diversification strategies and priorities of corresponding economic policy are presented. Based on the conclusions relevant recommendations are suggested.Keywords: Farm diversification, diversification index, agricultural development policy.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1966811 Lean Models Classification: Towards a Holistic View
Authors: Y. Tiamaz, N. Souissi
Abstract:
The purpose of this paper is to present a classification of Lean models which aims to capture all the concepts related to this approach and thus facilitate its implementation. This classification allows the identification of the most relevant models according to several dimensions. From this perspective, we present a review and an analysis of Lean models literature and we propose dimensions for the classification of the current proposals while respecting among others the axes of the Lean approach, the maturity of the models as well as their application domains. This classification allowed us to conclude that researchers essentially consider the Lean approach as a toolbox also they design their models to solve problems related to a specific environment. Since Lean approach is no longer intended only for the automotive sector where it was invented, but to all fields (IT, Hospital, ...), we consider that this approach requires a generic model that is capable of being implemented in all areas.
Keywords: Lean approach, lean models, classification, dimensions, holistic view.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1236810 The Effects of Quality of Web-Based Applications on Competitive Advantage: An Empirical Study in Commercial Banks in Jordan
Authors: Faisal Asad Aburub
Abstract:
Many organizations are investing in web applications and technologies in order to be competitive, some of them could not achieve its goals. The quality of web-based applications could play an important role for organizations to be competitive. So the aim of this study is to investigate the impact of quality of web-based applications to achieve a competitive advantage. A new model has been developed. An empirical investigation was performed on a banking sector in Jordan to test the new model. The results show that impact of web-based applications on competitive advantage is significant. Finally, further work is planned to validate and evaluate the proposed model using several domains.
Keywords: Competitive advantage, web-based applications, empirical investigation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2046809 Production Structure Monitoring - A Neurologic Based Approach
Authors: G. Reinhart, J. Pohl
Abstract:
Manufacturing companies are facing a broad variety of challenges caused by a dynamic production environment. To succeed in such an environment, it is crucial to minimize the loss of time required to trigger the adaptation process of a company-s production structures. This paper presents an approach for the continuous monitoring of production structures by neurologic principles. It enhances classical monitoring concepts, which are principally focused on reactive strategies, and enables companies to act proactively. Thereby, strategic aspects regarding the harmonization of certain life cycles are integrated into the decision making process for triggering the reconfiguration process of the production structure.Keywords: Continuous Factory Planning, Production Structure, Production Management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1438808 A Laboratory Assistance Module
Authors: Konstantinos E. Evangelidis, Evangelos Kehris, Theodore H. Kaskalis
Abstract:
We propose that Virtual Learning Environments (VLEs) should be designed by taking into account the characteristics, the special needs and the specific operating rules of the academic institutions in which they are employed. In this context, we describe a VLE module that extends the support of the organization and delivery of course material by including administration activities related to the various stages of teaching. These include the co-ordination, collaboration and monitoring of the course material development process and institution-specific course material delivery modes. Our specialized module, which enhances VLE capabilities by Helping Educators and Learners through a Laboratory Assistance System, is willing to assist the Greek tertiary technological sector, which includes Technological Educational Institutes (T.E.I.).Keywords: Virtual learning environments, Teachingcoordination, Laboratorial education, Technological institutes.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1359807 E-Service and the Nigerian Banking Sector: A Review of ATM Architecture and Operations
Authors: Bashir A. Yauri, Aliyu R. Yauri
Abstract:
With the introduction of cash-less society policy by the Central Bank of Nigeria, the concept of e-banking services have over the years’ experience a significant improvement. Today quite a number of people are embracing e-banking activities especially ATM, thereby moving away from the conventional banking system. This paper presents a review of the underlying Architectural Layout of Intra-Bank and Inter-Bank ATM connectivity in Nigeria. The paper further investigates and discusses factors affecting the Intra- Bank and Inter-Bank ATM connectivity in Nigeria. In addition, as well possible solutions to these factors affecting ATM Connectivity and Operations are proposed.Keywords: Architectural layout, automated teller machine, e-services, interswitch.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2404806 Supplier Sift – A Strategic Need of Modern Entrepreneurship
Authors: Rizwan Moeen, Riaz Ahmad, Tanweer Ul Islam, Shahid Ikramullah, Muhammad Umer
Abstract:
Supplier appraisal fosters energy in Supply Chain Management and helps in best optimization of viable business partners for a company. Many Decision Making techniques have already been proposed by researchers for supplier-s appraisal. However, Analytic Hierarchy Process (AHP) is assumed to be the most structured technique to attain near-best solution of the problem. This paper focuses at implementation of AHP in the procurement processes. It also suggests that on what factors a Public Sector Enterprises must focus while dealing with their suppliers and what should the suppliers do to synchronize their activities with the strategic objectives of Organization. It also highlights the weak areas in supplier appraisal process with a view to suggest viable recommendations.Keywords: AHP, MCDM techniques, Supply Chain Management (SCM), Supplier appraisal.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2258805 Role of ICT and Wage Inequality in Organization
Authors: Shoji Katagiri
Abstract:
This study deals with wage inequality in organization and shows the relationship between ICT and wage in organization. To do so, we incorporate ICT’s factors in organization into our model. ICT’s factors are efficiencies of Enterprise Resource Planning (ERP), Computer Assisted Design/Computer Assisted Manufacturing (CAD/CAM), and NETWORK. The improvement of ICT’s factors decrease the learning cost to solve problem pertaining to the hierarchy in organization. The improvement of NETWORK increases the wage inequality within workers and decreases within managers and entrepreneurs. The improvements of CAD/CAM and ERP increases the wage inequality within all agent, and partially increase it between the agents in hierarchy.Keywords: Endogenous economic growth, ICT, inequality, capital accumulation, technology.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 864804 Applications of Social Marketing in Road Safety of Georgia
Authors: Charita Jashi
Abstract:
The aim of the paper is to explore the role of social marketing in changing the behavior of consumers on road safety, identify critical aspects and priority needs which impede the implementation of road safety program in Georgia. Given the goals of the study, a quantitative method was used to carry out interviews for primary data collection. This research identified the awareness level of road safety, legislation base, and marketing interventions to change behavior of drivers and pedestrians. During several years the non-governmental sector together with the local authorities and media have been very intensively working on the road safety issue in Georgia, but only seat-belts campaign should be considered rather successful. Despite achievements in this field, efficiency of road safety programs far from fulfillment and needs strong empowering.
Keywords: Road safety, social marketing interventions, behavior change, well-being.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1100803 A Taxonomy of Internal Attacks in Wireless Sensor Network
Authors: Muhammad R Ahmed, Xu Huang, Dharmendra Sharma
Abstract:
Developments in communication technologies especially in wireless have enabled the progress of low-cost and lowpower wireless sensor networks (WSNs). The features of such WSN are holding minimal energy, weak computational capabilities, wireless communication and an open-medium nature where sensors are deployed. WSN is underpinned by application driven such as military applications, the health sector, etc. Due to the intrinsic nature of the network and application scenario, WSNs are vulnerable to many attacks externally and internally. In this paper we have focused on the types of internal attacks of WSNs based on OSI model and discussed some security requirements, characterizers and challenges of WSNs, by which to contribute to the WSN-s security research.Keywords: Wireless sensor network, internal attacks, security, OSI model.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3010802 Development of a Quantitative Material Wastage Management Plan for Effective Waste Reduction in the Building Construction Industry
Authors: Kwok Tak Kit
Abstract:
Combating climate change is becoming a hot topic in various sectors. Building construction and infrastructure sectors contributed a significant proportion of waste and greenhouse gas (GHG) emissions in the environment of different countries and cities. However, there is little research on the micro-level of waste management, “building construction material wastage management,” and fewer reviews about regulatory control in the building construction sector. This paper focuses on the potentialities and importance of material wastage management and reviews the deficiencies of the current standard to take into account the reduction of material wastage in a systematic and quantitative approach.
Keywords: Quantitative measurement, material wastage management plan, waste management, uncalculated waste, circular economy.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 647801 Optimization of Structure of Section-Based Automated Lines
Authors: R. Usubamatov, M. Z. Abdulmuin
Abstract:
Automated production lines with so called 'hard structures' are widely used in manufacturing. Designers segmented these lines into sections by placing a buffer between the series of machine tools to increase productivity. In real production condition the capacity of a buffer system is limited and real production line can compensate only some part of the productivity losses of an automated line. The productivity of such production lines cannot be readily determined. This paper presents mathematical approach to solving the structure of section-based automated production lines by criterion of maximum productivity.
Keywords: optimization production line, productivity, sections
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1315800 Knowledge Acquisition, Absorptive Capacity, and Innovation Capability: An Empirical Study of Taiwan's Knowledge-Intensive Industries
Authors: Shu-Hsien. Liao, Chi-Chuan. Wu, Da-Chian. Hu, Guang An. Tsuei
Abstract:
This study investigates the roles of knowledge acquisition, absorptive capacity, and innovation capability in finance and manufacturing industries. With 362 valid questionnaires from manufactures and financial industries in Taiwan, we examine the relationships between absorptive capacity, knowledge acquisition and innovation capability using a structural equation model. The results indicate that absorptive capacity is the mediator between knowledge acquisition and innovation capability, and that knowledge acquisition has a positive effect on absorptive capacity.Keywords: Absorptive capacity, knowledge acquisition, innovation capability.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2517799 Convergence of ICT and Education
Authors: Raju Kumar
Abstract:
Information and communication technology (ICT) has become, within a very short time, one of the basic building blocks of modern society. Many countries now understanding the importance of ICT and mastering the basic skills and concepts of it as part of the core of education. Organizations, experts and practitioners in the education sector increasingly recognizing the importance of ICT in supporting educational improvement and reform. This paper addresses the convergence of ICT and education. When two technologies are converging to each other, together they will generate some great opportunities and challenges. This paper focuses on these issues. In introduction section, it explains the ICT, education, and ICT-enhanced education. In next section it describes need of ICT in education, relationship between ICT skills and education, and stages of teaching learning process. The next two sections describe opportunities and challenges in integrating ICT in education. Finally the concluding section summaries the idea and its usefulness.Keywords: Education, Information and CommunicationTechnology, Learning, Teaching.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3571798 A Multi-Level Approach to Improve Sustainability Performances of Industrial Agglomerations
Authors: Patrick Innocenti, Elias Montini, Silvia Menato, Marzio Sorlini
Abstract:
Documented experiences of industrial symbiosis are always triggered and driven only by economic goals: environmental and (even rarely) social results are sometimes assessed and declared as effects of virtuous behaviours, but are merely casual and un-pursued side externalities. Even worse: all the symbiotic project candidates entailing economic loss for just one of the (also dozen) partners are simply stopped without considering the overall benefit for the whole partnership. The here-presented approach aims at providing methodologies and tools to effectively manage these situations and fostering the implementation of virtuous symbiotic investments in manufacturing aggregations for a more sustainable production.
Keywords: Business model, industrial symbiosis, industrial agglomerations, sustainability.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 994797 Empirical Statistical Modeling of Rainfall Prediction over Myanmar
Authors: Wint Thida Zaw, Thinn Thu Naing
Abstract:
One of the essential sectors of Myanmar economy is agriculture which is sensitive to climate variation. The most important climatic element which impacts on agriculture sector is rainfall. Thus rainfall prediction becomes an important issue in agriculture country. Multi variables polynomial regression (MPR) provides an effective way to describe complex nonlinear input output relationships so that an outcome variable can be predicted from the other or others. In this paper, the modeling of monthly rainfall prediction over Myanmar is described in detail by applying the polynomial regression equation. The proposed model results are compared to the results produced by multiple linear regression model (MLR). Experiments indicate that the prediction model based on MPR has higher accuracy than using MLR.Keywords: Polynomial Regression, Rainfall Forecasting, Statistical forecasting.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2617796 Public Procurement Development Stages in Georgia
Authors: Giorgi Gaprindashvili
Abstract:
One of the best examples, in evolution of the public procurement, from post-soviet countries are reforms carried out in Georgia, which brought them close to international standards of procurement. In Georgia, public procurement legislation started functioning short after gaining independence. The reform has passed several stages and came in the form as it is today. It should also be noted, that countries with economy in transition, including Georgia, implemented all the reforms in public procurement based on recommendations and support of World Bank, the United Nations and other international organizations. The aim of first adopted law was regulation of the procurement process of budget-organizations, transparency and creation of competitive environment for private companies to access state funds legally. The priorities were identified quite clearly in the wording of the law, but operation/function of this law could not be reached on its level, because of some objective and subjective reasons. The high level of corruption in all levels of governance can be considered as a main obstacle reason and of course, it is natural, that it had direct impact on the procurement process, as well as on transparency and rational use of state funds. These circumstances were the reasons that reforms in this sphere continued, to improve procurement process, in particular, the first wave of reforms began after several years. Public procurement agency carried out reform with World Bank with main purpose of smartening the procurement legislation and its harmonization with international treaties and agreements. Also with the support of World Bank various activities were carried out to raise awareness of participants involved in procurement system. Further major changes in the legislation were filed bit later, which was also directed towards the improvement and smarten of the procurement process. The third wave of the reform more or less guaranteed the transparency of the procurement process, which later became the basis for the rational spending of state funds. The reform of the procurement system completely changed the procedures. Carried out reform in Georgia resulted in introducing new electronic tendering system, which benefit the transparency of the process, after this became the basis for the further development of a competitive environment, which become a prerequisite for the state rational spending. Increased number of supplier organizations participating in the procurement process resulted in reduction of the estimated cost and the actual cost. Assessment of the reforms in Georgia in the field of public procurement can be concluded, that proper regulation of the sector and relevant policy may proceed to rational and transparent spending of the budget from country’s state institutions. Also, the business sector has the opportunity to work in competitive market conditions and to make a preliminary analysis, which is a prerequisite for future strategy and development.
Keywords: Public Administration, Public Procurement, Reforms, Transparency.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2308795 Impact of Financial System’s Development on Economic Development: An Empirical Investigation
Authors: Vilma Deltuvaitė
Abstract:
Comparisons of financial development across countries are central to answering many of the questions on factors leading to economic development. For this reason this study analyzes the implications of financial system’s development on country’s economic development. The aim of the article: to analyze the impact of financial system’s development on economic development. The following research methods were used: systemic, logical and comparative analysis of scientific literature, analysis of statistical data, time series model (Autoregressive Distributed Lag (ARDL) Model). The empirical results suggest about positive short and long term effect of stock market development on GDP per capita.
Keywords: Banking sector, economic development, financial system’s development, stock market, private bond market.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2111