Search results for: Libyan industrial companies.

Authors: Chiara Verbano, Maria Crema, Karen Venturini

Abstract:

The company-s ability to draw on a range of external sources to meet their needs for innovation, has been termed 'open innovation' (OI). Very few empirical analyses have been conducted on Small and Medium Enterprises (SMEs) to the extent that they describe and understand the characteristics and implications of this new paradigm. The study's objective is to identify and characterize different modes of OI, (considering innovation process phases and the variety and breadth of the collaboration), determinants, barriers and motivations in SMEs. Therefore a survey was carried out among Italian manufacturing firms and a database of 105 companies was obtained. With regard to data elaboration, a factorial and cluster analysis has been conducted and three different OI modes have emerged: selective low open, unselective open upstream, and mid- partners integrated open. The different behaviours of the three clusters in terms of determinants factors, performance, firm-s technology intensity, barriers and motivations have been analyzed and discussed.

Keywords: Open innovation, R&D management, SMEs.

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Authors: M. Heck, H. Vettiger

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Small and medium-sized enterprises (SME) are the backbone of central Europe’s economies and have a significant contribution to the gross domestic product. Production planning and scheduling (PPS) is still a crucial element in manufacturing industries of the 21^st century even though this area of research is more than a century old. The topic of PPS is well researched especially in the context of large enterprises in the manufacturing industry. However the implementation of PPS methodologies within SME is mostly unobserved. This work analyzes how PPS is implemented in SME with the geographical focus on Switzerland and its vicinity. Based on restricted resources compared to large enterprises, SME have to face different challenges. The real problem areas of selected enterprises in regards of PPS are identified and evaluated. For the identified real-life problem areas of SME clear and detailed recommendations are created, covering concepts and best practices and the efficient usage of PPS. Furthermore the economic and entrepreneurial value for companies is lined out and why the implementation of the introduced recommendations is advised.

Keywords: Central Europe, PPS, Production Planning, SME.

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Authors: Kozo Tanigawa, Toshihiko Sasama, Kenichi Takahashi, Takao Kawamura, Kazunori Sugahara

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In recent years, the number of the cases of information leaks is increasing. Companies and Research Institutions make various actions against information thefts and security accidents. One of the actions is adoption of the crime prevention system, including the monitoring system by surveillance cameras. In order to solve difficulties of multiple cameras monitoring, we develop the automatic human tracking system using mobile agents through multiple surveillance cameras to track target persons. In this paper, we develop the monitor which confirms mobile agents tracing target persons, and the simulator of video picture analysis to construct the tracking algorithm.

Keywords: Human tracking, mobile agent, monitoring, simulate.

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Authors: Mihai Brânzei, Tudor Coman

Abstract:

Aluminothermic rail welding was from the beginning a great success because its low price even in 1895 in Germany. This method is now, widely used all over the world for the railways construction, maintenance and modernization. Instructions give you guidelines for preparing papers for conferences or journals. After 1989, the welding needs of the potentials beneficiaries (Romanian Railways, Urban Transportation Companies) keep raise because of the railways maintenance and modernization necessity. The main materials that determine the Thermit (T) composition result from manufacturing scraps all over the country. This can help the environment by consuming these scraps. The Romanian need for alumino-thermic welding is now by 11300 per year, and in a favourable economical environment, this amount can reach 30000 units. This paper tries to show the effect of two types of modifiers introduced in the T composition on the structure and properties of an alumino-thermic welding.

Keywords: aluminothermic rail welding, modifier, Thermit.

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Authors: G. Robles, A. Stifi, José L. Ponz-Tienda, S. Gentes

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This research paper aims to identify, analyze and rank factors affecting labor productivity in Spain with respect to their relative importance. Using a selected set of 35 factors, a structured questionnaire survey was utilized as the method to collect data from companies. Target population is comprised by a random representative sample of practitioners related with the Spanish construction industry. Findings reveal the top five ranked factors are as follows: (1) shortage or late supply of materials; (2) clarity of the drawings and project documents; (3) clear and daily task assignment; (4) tools or equipment shortages; (5) level of skill and experience of laborers. Additionally, this research also pretends to provide simple and comprehensive recommendations so that they could be implemented by construction managers for an effective management of construction labor forces.

Keywords: Construction management, Factors, Improvement, Labor productivity, Lean construction.

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Authors: Cigdem Safak Saglam

Abstract:

Most thermal power plants use steam as working fluid in their power cycle. Therefore, in addition to fuel, water is the other main input for thermal plants. Water and steam must be highly pure in order to protect the systems from corrosion, scaling and biofouling. Pure process water is produced in water treatment plants having many several treatment methods. Treatment plant design is selected depending on raw water source and required water quality. Although working principle of fossil-fuel fired thermal power plants are same, there is no standard design and equipment arrangement valid for all thermal power plant utility systems. Besides that, there are many other technology evaluation and selection criteria for designing the most optimal water systems meeting the requirements such as local conditions, environmental restrictions, electricity and other consumables availability and transport, process water sources and scarcity, land use constraints etc. Aim of this study is explaining the adopted methodology for technology selection for process water preparation and industrial waste water treatment plant in a thermal power plant project located in Tufanbeyli, Adana Province in Turkey. Thermal power plant is fired with indigenous lignite coal extracted from adjacent lignite reserves. This paper addresses all above-mentioned factors affecting the thermal power plant water treatment facilities (demineralization + waste water treatment) design and describes the ultimate design of Tufanbeyli Thermal Power Plant Water Treatment Plant.

Keywords: Thermal power plant, lignite coal, pre-treatment, demineralization, electrodialysis, recycling, waste water, process water.

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Authors: I. Domingos, B. Esteves, A. Figueirinha, Luísa P. Cruz-Lopes, J. Ferreira, H. Pereira

Abstract:

Chromium is one of the most common heavy metals which exist in very high concentrations in wastewater. The removal is very expensive due to the high cost of normal adsorbents. Lignocellulosic materials and mainly treated materials have proven to be a good solution for this problem.

Adsorption tests were performed at different pH, different times and with varying concentrations.

Results show that is at pH 3 that treated wood absorbs more chromium ranging from 70% (2h treatment) to almost 100% (12 h treatment) much more than untreated wood with less than 40%. Most of the adsorption is made in the first 2-3 hours for untreated and heat treated wood. Modified wood adsorbs more chromium throughout the time. For all the samples, adsorption fitted relatively well the Langmuir model with correlation coefficient ranging from 0.85 to 0.97.

The results show that heat treated wood is a good adsorbent ant that this might be a good utilization for sawdust from treating companies.

Keywords: Adsorption, chromium, heat treatment, wood modification.

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Authors: Tugce Ercan

Abstract:

This research study aims to identify the impact of two factors –growth and competitive strategies- on a set of building production innovation strategies. It was conducted a questionery survey to collect data from construction professionals and it was asked them the importance level of predicted innovation strategies for corporate strategies. Multiple analysis of variance (MANOVA) was employed to see the main and interaction effects of corporate strategies on building innovation strategies. The results indicate that growth strategies such as entering in a new a market or new project types has a greater effect on innovation strategies rather than competitive strategies such as cost leadership or differentiation strategies. However the interaction effect of competitive strategies and growth strategies on innovation strategies is much bigger than the only effect of competitive strategies. It was also analyzed the descriptive statistics of innovation strategies for different competitive and growth strategy types.

Keywords: competitive strategy, growth strategy, innovation, construction company, MANOVA

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Authors: Mohammad Samarah, Benjamin Stark, Jennifer Kindle, Langley Payton

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Innovation is a key driver for companies, society, and economic growth. However, assessing and measuring innovation for individuals as well as organizations remains difficult. Our i5-Score presented in this study will help to overcome this difficulty and facilitate measuring the innovation potential. The score is based on a framework we call the 5Gs of innovation which defines specific innovation attributes. Those are 1) the drive for long-term goals 2) the audacity to generate new ideas, 3) the openness to share ideas with others, 4) the ability to grow, and 5) the ability to maintain high levels of optimism. To validate the i5-Score, we conducted a study at Florida Polytechnic University. The results show that the i5-Score is a good measure reflecting the innovative mindset of an individual or a group. Thus, the score can be utilized for evaluating, refining and enhancing innovation capabilities.

Keywords: Change management, innovation attributes, organizational development, STEM and venture creation.

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Authors: Yu J. Chiu, Chia H. Yeh

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Innovation is more important in any companies. However, it is not easy to measure the innovation performance correctly. Patent is one of measuring index nowadays. This paper wants to purpose an approach for valuing patents based on market reaction to patent infringement litigations. The interesting phenomenon is found from collection of patent infringement litigation events. That is if any patent litigation event occurs the stock value will follow changing. The plaintiffs- stock value raises some percentage. According to this interesting phenomenon, the relationship between patent litigation and stock value is tested and verified. And then, the stock value variation is used to deduce the infringed patents- value. The purpose of this study is providing another concept model to evaluate the infringed patents. This study can provide a decision assist system to help drafting patent litigation strategy and determine the technology value

Keywords: Patent valuation, infringement litigations, stock value, artificial neural networks.

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Authors: Marko Čular

Abstract:

The aim of this paper is to raise general awareness of transparency importance for audit firms and for audit services’ users. This paper analyzes transparency of audit firms that audited financial statements of listed companies, for year 2011 and 2012. We use this two years because in the meantime Code of Ethics for Professional Accountants has been adopted. This paper investigates whether transparency reports of audit firms are in accordance with the Croatian Audit Act and whether there is a difference on transparency in observed years. For this paper quality index of transparency report and financial indicators of audit firms are used to get conclusion about condition of audit firms transparency reporting. Results of our study indicate that audit firms are not fully transparent, looking for both years. Transparency of audit firms in 2012 has improved significantly, compared with transparency in 2011.

Keywords: Transparency report, Index quality of transparency report, Croatian Audit Act, Code of Ethics for Professional Accountants.

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Authors: Sahar Modirzadehbami, Gholamreza Mansourfar

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Different types of Islamic debts have been increasingly utilized as preferred means of debt funding by Malaysian private firms in recent years. This study examines the impact of Islamic debts announcement on private firms- stock returns. Our sample includes forty five listed companies on Bursa Malaysia involved in issuing of Islamic debts during 2005 to 2008. The abnormal returns and cumulative average abnormal returns are calculated and tested using standard event study methodology. The results show that a significant, negative abnormal return occurs one day before announcement date. This negative abnormal return is representing market participant-s adverse attitude toward Islamic private debt announcement during the research period.

Keywords: Announcement effect, Event study, Islamic debts, Malaysia, Sukuk

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Authors: Syed Zohaib Javaid Zaidi, W. Iqbal

Abstract:

The industrial automation is dependent upon pneumatic control systems. The industrial units are now controlled with digital control systems to tackle the process variables like Temperature, Pressure, Flow rates and Composition.

This research work produces an evaluation of the response time fluctuations for proportional mode, proportional integral and proportional integral derivative modes of automated chemical process control. The controller output is measured for different values of gain with respect to time in three modes (P, PI and PID). In case of P-mode for different values of gain the controller output has negligible change. When the controller output of PI-mode is checked for constant gain, it can be seen that by decreasing the integral time the controller output has showed more fluctuations. The PID mode results have found to be more interesting in a way that when rate minute has changed, the controller output has also showed fluctuations with respect to time.  The controller output for integral mode and derivative mode are observed with lesser steady state error, minimum offset and larger response time to control the process variable.   The tuning parameters in case of P-mode are only steady state gain with greater errors with respect to controller output. The integral mode showed controller outputs with intermediate responses during integral gain (ki).  By increasing the rate minute the derivative gain (kd) also increased which showed the controlled oscillations in case of PID mode and lesser overshoot.

Keywords: Controller Output, P, PI &PID modes, Steady state gain.

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Authors: Tsutomu Ichikawa

Abstract:

The Kumamoto area, Kyushu, Japan has 1,041km2 in area and about 1milion in population. This area is a greatest area in Japan which depends on groundwater for all of drinking water. Quantity of this local groundwater use is about 200MCM during the year. It is understood that the main recharging area of groundwater exist in the rice field zone which have high infiltrate height ahead of 100mm/ day of the irrigated water located in the middle area of the Shira-River Basin. However, by decrease of the paddy-rice planting area by urbanization and an acreage reduction policy, the groundwater income and expenditure turned worse. Then Kumamoto city and four companies expended financial support to increase recharging water to underground by ponded water in the field from 2004. In this paper, the author reported the situation of recovery of groundwater by recharge and estimates the efficiency of recharge by statistical method.

Keywords: Groundwater recharge, groundwater level, spring water, paddy field.

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Authors: Ketevan Kokrashvili, Rusudan Kutateladze, Nino Pailodze

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Importance of management of legal entities under private law of which especially corporate management, as well as looking for ways of its improvement and perfection has become especially relevant in the twenty-first century, which was greatly contributed to by the global economic crisis. Some states have adopted Corporate Governance Codes; the European Union has set to work on a series of directives the main purpose of which is an improvement of corporate governance, provision of greater transparency and implementation of an effective control mechanism. This process is not yet completed, and various problematic issues associated with management of legal persons are still being debated among practitioner experts and scholars. Georgia is not an exception in this regard. The article discusses the legislative gaps, and in some cases, discrepancies having arisen in legal relationships under private law and having caused many practical problems. This especially applies to the management of capital companies.

Keywords: Business entities, corporate management, public capital management, collective norms, existing problems, legal discrepancies.

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Authors: F. Hosseinpour, H. Hajihosseini

Abstract:

Simulation is a very helpful and valuable work tool in manufacturing. It can be used in industrial field allowing the system`s behavior to be learnt and tested. Simulation provides a low cost, secure and fast analysis tool. It also provides benefits, which can be reached with many different system configurations. Topics to be discussed include: Applications, Modeling, Validating, Software and benefits of simulation. This paper provides a comprehensive literature review on research efforts in simulation.

Keywords: Manufacturing, modeling, simulation, training.

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Authors: Sarah Majid Ansari, Serjosha Wulf, Matthias Görke

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In times of global warming and the increasing shortage of resources, sustainable production is becoming more and more inevitable. Companies cannot only heighten their competitiveness but also contribute positively to environmental protection through efficient energy and resource consumption. Regarding this, technical solutions are often preferred during production, although organizational and process-related approaches also offer great potential. This project focuses on reducing resource usage, with a special emphasis on the human factor. It is the aspiration to develop a methodology that systematically implements and embeds suitable and individual measures and methods regarding resource efficiency throughout the entire production. The measures and methods established help employees handle resources and energy more sensitively. With this in mind, this paper also deals with the difficulties that can occur during the sensitization of employees and the implementation of these measures and methods. In addition, recommendations are given on how to avoid such difficulties.

Keywords: Implementation, human factor, production plant, resource efficiency.

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Authors: U K Chakrabarti, Jigisha Parikh

Abstract:

Hazardous Material transportation by road is coupled with inherent risk of accidents causing loss of lives, grievous injuries, property losses and environmental damages. The most common type of hazmat road accident happens to be the releases (78%) of hazardous substances, followed by fires (28%), explosions (14%) and vapour/ gas clouds (6 %.). The paper is discussing initially the probable 'Impact Zones' likely to be caused by one flammable (LPG) and one toxic (ethylene oxide) chemicals being transported through a sizable segment of a State Highway connecting three notified Industrial zones in Surat district in Western India housing 26 MAH industrial units. Three 'hotspots' were identified along the highway segment depending on the particular chemical traffic and the population distribution within 500 meters on either sides. The thermal radiation and explosion overpressure have been calculated for LPG / Ethylene Oxide BLEVE scenarios along with toxic release scenario for ethylene oxide. Besides, the dispersion calculations for ethylene oxide toxic release have been made for each 'hotspot' location and the impact zones have been mapped for the LOC concentrations. Subsequently, the maximum Initial Isolation and the protective zones were calculated based on ERPG-3 and ERPG-2 values of ethylene oxide respectively which are estimated taking the worst case scenario under worst weather conditions. The data analysis will be helpful to the local administration in capacity building with respect to rescue / evacuation and medical preparedness and quantitative inputs to augment the District Offsite Emergency Plan document.

Keywords: Hotspot, Ethylene Oxide, LPG, MAH (MajorAccident Hazard).

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Authors: Zh. Nurbekova, Z. Zhanazarova, A. Beissenova

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This article is devoted to the analysis of results of sociological researches carried out by authors directed on studying of opinion of representatives of small, medium and big business on formation of the Customs Union, Common Free Market Zone with participation of Kazakhstan, Russia and Belarus. It-s forecasted that companies, their branches will interpenetrate with registration and moving their businesses to regions with more beneficial conditions. They say that in Kazakhstan there are more profitable geo-strategic operating environment for business and lower taxes. Russia using this opportunity will create new conditions for expansion into other countries of Central Asia and China. Opinions of participants of questionnaire and expert poll different in estimation of value of these two integration mechanisms since market segments on the one hand extend, but also on the other hand - loss of exclusive influence in certain fields of activity.

Keywords: Customs Union, Kazakhstan, sociological research.

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Authors: H. Ostad-Ahmad-Ghorabi, T. Rahmani, D. Gerhard

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Product Data Management (PDM) systems for Computer Aided Design (CAD) file management are widely established in design processes. This management system is indispensable for design collaboration or when design task distribution is present. It is thus surprising that engineering design curricula has not paid much attention in the education of PDM systems. This is also the case for eduction of ecodesign and environmental evaluation of products. With the rise of sustainability as a strategic aspect in companies, environmental concerns are becoming a key issue in design. This paper discusses the establishment of a PDM platform to be used among technical and vocational schools in Austria. The PDM system facilitates design collaboration among these schools. Further, it will be discussed how the PDM system has been prepared in order to facilitate environmental evaluation of parts, components and subassemblies of a product. By integrating a Business Intelligence solution, environmental Life Cycle Assessment and communication of results is enabled.

Keywords: CAD, Engineering Design, Design Education, ProductLife Cycle, Sustainability

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Authors: Raúl González Muñoz, Essam Shehab, Martin Weinitzke, Chris Fowler, Paul Baguley

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Software applications have become crucial for the aerospace industry, providing a wide range of functionalities and capabilities. However, due to the considerable time difference between aircraft and software life cycles, obsolescence has turned into a major challenge for industry in last decades. This paper aims to provide a view on the different causes of software obsolescence within aerospace industry, as well as a perception on the importance of each of them. The key research question addressed is what drives software obsolescence in the aerospace industry, managing large software application portfolios. This question has been addressed by conducting firstly an in depth review of current literature and secondly by arranging an industry workshop with professionals from aerospace and consulting companies. The result is a set of drivers of software obsolescence, distributed among three different environments and several domains. By incorporating monitoring methodologies to assess those software obsolescence drivers, benefits in maintenance efforts and operations disruption avoidance are expected.

Keywords: Aerospace industry, obsolescence drivers, software lifecycle, software obsolescence.

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Authors: Dimitris Balios, Stefanos Tantos

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Economic growth and social evolution are connected to trust relationships in a society. The quality of the accounting information, the tax information system and the tax audit mechanism evolve multiple benefits in an economy. Tax evasion, the illegal practice where people and companies do not pay taxes, is a crime because of the negative effect in economy and society. In this paper, we describe a theoretical framework on the characteristics of a fair and efficient tax auditing information system which could be a tool against tax evasion, a tool for an economy to grow, especially in countries that face fluctuations in economic activity. We conclude that a fair and efficient tax auditing information system increases the reliability of tax administration, improves taxpayers’ tax compliance and causes a developmental trajectory for the economy.

Keywords: Auditing information system, auditing mechanism, tax evasion, taxation, quality of accounting information.

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Authors: Sofia Stoica

Abstract:

In this paper, we use historical data to predict the stock price of a tech company. To this end, we use a dataset consisting of the stock prices over the past five years of 10 major tech companies: Adobe, Amazon, Apple, Facebook, Google, Microsoft, Netflix, Oracle, Salesforce, and Tesla. We implemented and tested three models – a linear regressor model, a k-nearest neighbor model (KNN), and a sequential neural network – and two algorithms – Multiplicative Weight Update and AdaBoost. We found that the sequential neural network performed the best, with a testing error of 0.18%. Interestingly, the linear model performed the second best with a testing error of 0.73%. These results show that using historical data is enough to obtain high accuracies, and a simple algorithm like linear regression has a performance similar to more sophisticated models while taking less time and resources to implement.

Keywords: Finance, machine learning, opening price, stock market.

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Authors: Hanna Ziętara

Abstract:

Gastronomy is one of the oldest forms of commercial activity. It is currently one of the most popular and still dynamically developing branches of business. Socio-economic changes, its widespread occurrence, new techniques or culinary styles affect the almost unlimited possibilities of its development. Importantly, regardless of the form of business adopted, foodservice is strongly related to logistics processes, and areas of foodservice that are closely linked to logistics are of strategic importance. Any inefficiency in logistics processes results in reduced chances for success and achieving competitive advantage by companies belonging to the catering industry. The aim of the paper is to identify the areas of logistic support, occurring in the catering business, and affecting the scope of the logistic processes implemented. The aim of the paper is implemented through a plural homogeneous approach, based on direct observation, text analysis of current documents, and in-depth free targeted interviews.

Keywords: Gastronomy, competitive advantage, logistics, logistics support.

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Authors: Ali E. Abbas

Abstract:

This paper highlights some of the normative issues that might result by setting independent thresholds in risk analyses and particularly with safety regions. A second objective is to explain how such regions can be specified appropriately in a meaningful way. We start with a review of the importance of setting deterministic trade-offs among target requirements. We then show how to determine safety regions for risk analysis appropriately using utility functions.

Keywords: Decision analysis, thresholds, risk, reliability.

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Authors: Andrej Miklošík, Eva Hvizdová, Štefan Žák

Abstract:

Many companies have switched their processes to project-oriented in the last years. This brings new possibilities and effectiveness not only in the field of external processes connected with the product delivery but also the internal processes as well. However centralized project organization which is based on the role of project manager in the team has proved insufficient in some cases. Agile methods of project organization are trying to solve this problem by bringing new view on the project organization, roles, processes and competences. Scrum is one of these methods which builds on the principles of knowledge management to drive the project to effectiveness from all view angles. Using this method to organize internal and delivery projects helps the organization to create and share knowledge throughout the company. It also supports forming unique competences of individuals and project teams and drives innovations in the company.

Keywords: agile software development, knowledge management, knowledge dissemination, project management, SCRUM

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Authors: G. Reinhart, S. Schindler

Abstract:

Due to dynamic evolution, the ability of a manufacturing technology to produce a special product is changing. Therefore, it is essential to monitor the established techniques and processes to detect whether a company-s production will fit future circumstances. Concerning the manufacturing technology planning process, companies must decide when to change to a new technology for maintaining and increasing competitive advantages. In this context, the maturity assessment of the focused technologies is crucial. This article presents an approach for defining the maturity of a manufacturing technology from a strategic point of view. The concept is based on the approach of technology readiness level (TRL) according to NASA (National Aeronautics and Space Administration), but also includes dynamic changes. Therefore, the model takes into account the concept of the technology life cycle. Furthermore, it enables a company to estimate the ideal date for implementation of a new manufacturing technology.

Keywords: Maturity Assessment, Manufacturing Technology Planning, Technology Life Cycle, Technology Readiness Level.

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Authors: Juhan Kim, Howon Kim

Abstract:

EPC Class-1 Generation-2 UHF tags, one of Radio frequency identification or RFID tag types, is expected that most companies are planning to use it in the supply chain in the short term and in consumer packaging in the long term due to its inexpensive cost. Because of the very cost, however, its resources are extremely scarce and it is hard to have any valuable security algorithms in it. It causes security vulnerabilities, in particular cloning the tags for counterfeits. In this paper, we propose a product authentication solution for anti-counterfeiting at application level in the supply chain and mobile RFID environment. It aims to become aware of distribution of spurious products with fake RFID tags and to provide a product authentication service to general consumers with mobile RFID devices like mobile phone or PDA which has a mobile RFID reader. We will discuss anti-counterfeiting mechanisms which are required to our proposed solution and address requirements that the mechanisms should have.

Keywords: EPC, RFID, Anti-Counterfeiting, Mobile RFIDenvironment.

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Authors: Ventzas Dimitrios, Petropoulos George

Abstract:

The paper presents a compressor anti-surge control system, that results in maximizing compressor throughput with pressure standard deviation reduction, increased safety margin between design point and surge limit line and avoiding possible machine surge. Alternative control strategies are presented.

Keywords: Anti-surge, control, compressor, PID control, safety, fault tolerance, start-up, ESD.

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Authors: Ilaria Lucrezia Amerise

Abstract:

Electricity markets throughout the world have undergone substantial changes. Accurate, reliable, clear and comprehensible modeling and forecasting of different variables (loads and prices in the first instance) have achieved increasing importance. In this paper, we describe the actual state of the art focusing on reg-SARMA methods, which have proven to be flexible enough to accommodate the electricity price/load behavior satisfactory. More specifically, we will discuss: 1) The dichotomy between point and interval forecasts; 2) The difficult choice between stochastic (e.g. climatic variation) and non-deterministic predictors (e.g. calendar variables); 3) The confrontation between modelling a single aggregate time series or creating separated and potentially different models of sub-series. The noteworthy point that we would like to make it emerge is that prices and loads require different approaches that appear irreconcilable even though must be made reconcilable for the interests and activities of energy companies.

Keywords: Forecasting problem, interval forecasts, time series, electricity prices, reg-plus-SARMA methods.

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