Search results for: production markets

Authors: Changhong Guo, Shaomei Fang, Yong He

Abstract:

In this paper, fractional Black-Scholes models for the European option pricing were established based on the fractional G-Brownian motion (fGBm), which generalizes the concepts of the classical Brownian motion, fractional Brownian motion and the G-Brownian motion, and that can be used to be a tool for considering the long range dependence and uncertain volatility for the financial markets simultaneously. A generalized fractional Black-Scholes equation (FBSE) was derived by using the Taylor’s series of fractional order and the theory of absence of arbitrage. Finally, some explicit option pricing formulas for the European call option and put option under the FBSE were also solved, which extended the classical option pricing formulas given by F. Black and M. Scholes.

Keywords: European option pricing, fractional Black-Scholes equations, fractional G-Brownian motion, Taylor’s series of fractional order, uncertain volatility.

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Authors: F. Brunke, L. Waalkes, C. Siemers

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Due to reduced stiffness, research on second generation titanium alloys for implant applications, like the metastable β-titanium alloy Ti-15Mo, become more and more important in the recent years. The machinability of these alloys is generally poor leading to problems during implant production and comparably large production costs. Therefore, in the present study, Ti-15Mo was alloyed with 0.8 wt.-% of the rare earth metals lanthanum (Ti-15Mo+0.8La) and neodymium (Ti-15Mo+0.8Nd) to improve its machinability. Their microstructure consisted of a titanium matrix and micrometer-size particles of the rare earth metals and two of their oxides. The particles stabilized the microstructure as grain growth was minimized. As especially the ductility might be affected by the precipitates, the behavior of Ti-15Mo+0.8La and Ti- 15Mo+0.8Nd was investigated during static and dynamic deformation at elevated temperature to develop a processing route. The resulting mechanical properties (static strength and ductility) were similar in all investigated alloys.

Keywords: Ti-15Mo, Titanium alloys, Rare earth metals, Free-machining alloy.

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Authors: Sahira N. Muslim, Alaa N. Mohammed, Saba Saadoon Khazaal, Batool Kadham Salman, Israa M. S. AL-Kadmy, Sraa N. Muslim, Ahmed S. Dwaish, Sawsan Mohammed Kareem, Sarah N. Aziz, Ruaa A. Jasim

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Tannase has wide applications in food, beverage, brewing, cosmetics and chemical industries and one of the major applications of tannase is the production of gallic acid. Gallic acid is used for manufacturing of trimethoprim. In the present study, a local fungal strain of Penicillium expansum A₄ isolated from spoilt apple samples gave the highest production level of tannase. Tannase was partially purified with a recovery yield of 92.52% and 6.32 fold of purification by precipitation using ammonium sulfate at 50% saturation. Tannase led to increased antimicrobial activity of ceftazidime against Pseudomonas aeruginosa and S. aureus and had a synergism effect at low concentrations of ceftazidime, and thus, tannase may be a useful adjuvant agent for the treatment of many bacterial infections in combination with ceftazidime.

Keywords: Ceftazidime, Penicillium expansum, tannase, antimicrobial activity.

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Authors: Ramlan Zailani, Halim Ghafar, Mohamad Sofian So'aib

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Air infiltration in mass scale industrial applications of bio char production is inevitable. The presence of oxygen during the carbonization process is detrimental to the production of biochar yield and properties. The experiment was carried out on several wood species in a fixed-bed pyrolyser under various fractions of oxygen ranging from 0% to 11% by varying nitrogen and oxygen composition in the pyrolysing gas mixtures at desired compositions. The bed temperature and holding time were also varied. Process optimization was carried out by Response Surface Methodology (RSM) by employing Central Composite Design (CCD) using Design Expert 6.0 Software. The effect of oxygen ratio and holding time on biochar yield within the range studied were statistically significant. From the analysis result, optimum condition of 15.2% biochar yield of mangrove wood was predicted at pyrolysis temperature of 403 oC, oxygen percentage of 2.3% and holding time of two hours. This prediction agreed well with the experiment finding of 15.1% biochar yield.

Keywords: Mangrove wood, slow pyrolysis, oxygen infiltration.

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Authors: Ioan Popa, Radu Lupu, Cristiana Tudor

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In this paper, we apply the FM methodology to the cross-section of Romanian-listed common stocks and investigate the explanatory power of market beta on the cross-section of commons stock returns from Bucharest Stock Exchange. Various assumptions are empirically tested, such us linearity, market efficiency, the “no systematic effect of non-beta risk" hypothesis or the positive expected risk-return trade-off hypothesis. We find that the Romanian stock market shows the same properties as the other emerging markets in terms of efficiency and significance of the linear riskreturn models. Our analysis included weekly returns from January 2002 until May 2010 and the portfolio formation, estimation and testing was performed in a rolling manner using 51 observations (one year) for each stage of the analysis.

Keywords: Bucharest Stock Exchange, Fama-Macbeth methodology, systematic risk, non-linear risk-return dependence.

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Authors: M.M. Jafarpour, Ar. Foolad, M.K. Mansouri, Z. Nikbakhsh, H. Saeedizade

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Ammonia nitrogen is one of the most hazardous water pollutants, discharging into water receptors through industrial effluents. Negative environmental impacts of such chemical species in hydrosphere include accelerated eutrophication, water toxicity and harming the aquatics. Natural zeolite clinoptilolite has very high selectivity & capacity for ammonium cation sorption. It occurs in high abundances and rich mines of this zeolite exist in different parts of Iran and thus are available more cheaply and with different sizing. The aim of this study is to investigate ammonia nitrogen removal over this natural sorbent from real samples of high polluted wastewater discharging from a fertilizer producing plant. The experimental results showed that this natural sorbent without even any pre treatment system & with the same particle size available in Iranian markets has still high capability & selectivity in ammonia nitrogen removal both in batch and continuous tests.

Keywords: Ammonia nitrogen removal, Clinoptilolite, Naturalzeolite, Waste water.

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Authors: Ratanaporn Leesing, Thidarat Papone, Mutiyaporn Puangbut

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Mixotrophic cultivation of the isolated freshwater microalgae Chlorella sp. KKU-S2 in batch shake flask for biomass and lipid productions, different concentration of glucose as carbon substrate, different nitrogen source and concentrations were investigated. Using 1.0g/L of NaNO₃ as nitrogen source, the maximum biomass yield of 10.04g/L with biomass productivity of 1.673g/L d was obtained using 40g/L glucose, while a biomass of 7.09, 8.55 and 9.45g/L with biomass productivity of 1.182, 1.425 and 1.575g/L d were found at 20, 30 and 50g/L glucose, respectively. The maximum lipid yield of 3.99g/L with lipid productivity of 0.665g/L d was obtained when 40g/L glucose was used. Lipid yield of 1.50, 3.34 and 3.66g/L with lipid productivity of 0.250, 0.557 and 0.610g/L d were found when using the initial concentration of glucose at 20, 30 and 50g/L, respectively. Process product yield (Y_P/S) of 0.078, 0.119, 0.158 and 0.094 were observed when glucose concentration was 20, 30, 40 and 50 g/L, respectively. The results obtained from the study shows that mixotrophic culture of Chlorella sp. KKU-S2 is a desirable cultivation process for microbial lipid and biomass production. 

Keywords: Mixotrophic cultivation, microalgal lipid, Chlorella sp. KKU-S2.

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Authors: G. Trigui, B. Laroche, M. Miquel, B. Dubreucq, A. Trubuil

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The subcellular organelles called oil bodies (OBs) are lipid-filled quasi-spherical droplets produced from the endoplasmic reticulum (ER) and then released into the cytoplasm during seed development. It is believed that an OB grows by coalescence with other OBs and that its stability depends on the composition of oleosins, major proteins inserted in the hemi membrane that covers OBs. In this study, we measured the OB-volume distribution from different genotypes of A. thaliana after 7, 8, 9, 10 and 11 days of seed development. In order to test the hypothesis of OBs dynamics, we developed a simple mathematical model using non-linear differential equations inspired from the theory of coagulation. The model describes the evolution of OB-volume distribution during the first steps of seed development by taking into consideration the production of OBs, the increase of triacylglycerol volume to be stored, and the growth by coalescence of OBs. Fitted parameters values show an increase in the OB production and coalescence rates in A. thaliana oleosin mutants compared to wild type.

Keywords: Biogenesis, coalescence, oil body, oleosin, population dynamics.

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Authors: Kuvshinov, D., Siswanto, A., Lozano-Parada, J., Zimmerman, W. B.

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Ozone is well known as a powerful, fast reacting oxidant. Ozone based processes produce no by-product residual as non-reacted ozone decomposes to molecular oxygen. Therefore an application of ozone is widely accepted as one of the main approaches for a Sustainable and Clean Technologies development.

There are number of technologies which require ozone to be delivered to specific points of a production network or reactors construction. Due to space constraints, high reactivity and short life time of ozone the use of ozone generators even of a bench top scale is practically limited. This requires development of mini/micro scale ozone generator which can be directly incorporated into production units.

Our report presents a feasibility study of a new micro scale rector for ozone generation (MROG). Data on MROG calibration and indigo decomposition at different operation conditions are presented.

At selected operation conditions with residence time of 0.25 s the process of ozone generation is not limited by reaction rate and the amount of ozone produced is a function of power applied. It was shown that the MROG is capable to produce ozone at voltage level starting from 3.5kV with ozone concentration of 5.28*10^-6 (mol/L) at 5kV. This is in line with data presented on numerical investigation for a MROG. It was shown that in compare to a conventional ozone generator, MROG has lower power consumption at low voltages and atmospheric pressure.

The MROG construction makes it applicable for both submerged and dry systems. With a robust compact design MROG can be used as an integrated module for production lines of high complexity.

Keywords: DBD, micro reactor, ozone, plasma.

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Authors: Christian Böning, Henrik Prinzhorn, Eric C. Hund, Malte Stonis

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In this article, the flexible job-shop scheduling problem is extended by consideration of energy costs which arise owing to the power peak, and further decision variables such as work in process and throughput time are incorporated into the objective function. This enables a production plan to be simultaneously optimized in respect of the real arising energy and logistics costs. The energy-costs-aware flexible job-shop scheduling problem (EFJSP) which arises is described mathematically, and a memetic algorithm (MA) is presented as a solution. In the MA, the evolutionary process is supplemented with a local search. Furthermore, repair procedures are used in order to rectify any infeasible solutions that have arisen in the evolutionary process. The potential for lowering the real arising costs of a production plan through consideration of energy consumption levels is highlighted.

Keywords: Energy costs, flexible job-shop scheduling, memetic algorithm, power peak.

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Authors: Jungho Moon, Tae Kwon Ha

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Effect of alloying on the microstructure and mechanical properties of heat-resisting duplex stainless steel (DSS) for Mg production was investigated in this study. 25Cr-8Ni based DSS’s were cast into rectangular ingots of which the dimension was 350×350×100 mm3 . Nitrogen and Yttrium were added in the range within 0.3 in weight percent. Phase equilibrium was calculated using the FactSage®, thermodynamic software. Hot exposure, high temperature tensile and compression tests were conducted on the ingots at 1230oC, which is operation temperature employed for Mg production by Silico-thermic reduction. The steel with N and Y showed much higher strength than 310S alloy in both tensile and compression tests. By thermal exposition at 1230oC for 200 hrs, hardness of DSS containing N and Y was found to increase. Hot workability of the heat-resisting DSS was evaluated by employing hot rolling at 1230 oC. Hot shortness was observed in the ingot with N and found to disappear after addition of Y.

Keywords: Duplex Stainless Steel, alloying elements, eutectic carbides, microstructure, aging treatment.

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Authors: Jether Gomes, Thiago M. R. Dias, Gray F. Moita

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The production and publication of scientific works have increased significantly in the last years, being the Internet the main factor of access and diffusion of these. In view of this, researchers from several areas of knowledge have carried out several studies on scientific production data in order to analyze phenomena and trends about science. The understanding of how research has evolved can, for example, serve as a basis for building scientific policies for further advances in science and stimulating research groups to become more productive. In this context, the objective of this work is to analyze the main research topics investigated along the trajectory of the Brazilian science of researchers working in the areas of engineering, in order to map scientific knowledge and identify topics in highlights. To this end, studies are carried out on the frequency and relationship of the keywords of the set of scientific articles registered in the existing curricula in the Lattes Platform of each one of the selected researchers, counting with the aid of bibliometric analysis features.

Keywords: Research topics, bibliometrics, topics of interest, Lattes Platform.

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Authors: Alhaji M. H. Conteh, Xiangbin Yan, M. E. S. Mvodo

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This study endeavors to evaluate the effects of farmers’ training program on the adoption of improved farming practices, the output of rice farming, and the income as well as the profit from rice farming by employing an ex-post non-experimental data in Sierra Leone. It was established that participating in farmers’ training program increased the possibility of adoption of the improved farming activities that were implemented in the study area. Through the training program also, the proceeds from rice production was also established to have increased considerably. These results were in line with the assumption that one of the main constraints on the growth in agricultural output particularly rice cultivation in most African states is the lack of efficient extension programs.

Keywords: Dissemination of information, improved farming practices, rice ecologies, Sierra Leone.

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Authors: S. Mahmoodzadeh, J. Shahrabi, M. A. Torkamani, J. Sabaghzadeh Ghomi

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Recognizing behavioral patterns of financial markets is essential for traders. Japanese candlestick chart is a common tool to visualize and analyze such patterns in an economic time series. Since the world was introduced to Japanese candlestick charting, traders saw how combining this tool with intelligent technical approaches creates a powerful formula for the savvy investors. This paper propose a generalization to box counting method of Grassberger-Procaccia, which is based on computing the correlation dimension of Japanese candlesticks instead commonly used 'close' points. The results of this method applied on several foreign exchange rates vs. IRR (Iranian Rial). Satisfactorily show lower chaotic dimension of Japanese candlesticks series than regular Grassberger-Procaccia method applied merely on close points of these same candles. This means there is some valuable information inside candlesticks.

Keywords: Chaos, Japanese candlestick, generalized box counting, strange attractor.

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Authors: Hirich A., Choukr-allah R., Jacobsen S-E., Hamdy A., El youssfi L., El Omari H.

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An experiment was performed in the south of Morocco in order to evaluate the effect of deficit irrigation by treated wastewater on chickpea production. We applied six irrigation treatments on a local variety of chickpea by supplying alternatively 50 or 100% of ETm in a completely randomized design. We found a highly significant difference between treatments in terms of biomass production. Drought stress during the vegetative period showed highest yield with 6.5 t/ha which was more than the yield obtained for the control (4.9 t/ha). The optimal crop stage in which deficit irrigation can be applied is the vegetative growth stage, as the crop has a chance to develop its root system, to be able to cover the plant needs for water and nutrient supply during the rest of cycle, and non stress conditions during the flowering and seed filling stages allow the plant to optimize its photosynthesis and carbon translocation, therefore increase its productivity.

Keywords: chickpea, crop stages, drought stress, water productivity

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Authors: Iasha Meskhia, Rusudan Seturidze

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Free access for Georgian goods to the EU markets is one of the important factors for Georgia’s economic development, attraction of investments and raising the standard of living. The European Union is the most important trade partner for Georgia. Great experience has been accumulated with respect to removing trade barriers between Georgia and the European Union. Despite it, certain problems still persist.

In the present article, we have reviewed the systems of preferences with the European Union, the EU’s Generalized System of Preferences (GSP) and the essence of ongoing reform; we have assessed weak and strong sides of relations established between the European Union and Georgia in this regard; analyzed Georgia’s export and import over the past years; also reviewed the prospect of a unified database; established existing and anticipated positive and negative factors. Based on the analysis, we have provided the relevant recommendations. 

Keywords: EU-Georgia trade, EU’s GSP reform, Georgia’s export-import, REX system.

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Authors: Yu-Syuan Chang, Li-Chun Huang

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Genetically modified (GM) technology in food production continued to generate controversies. Consumers were concerned with the GM foods about the healthy and environmental risks. While consumers- acceptance was a critical factor affecting how widely this technology be used. According to the research review, consumers- lack of information was one of the reasons to explain consumers- low acceptance toward GM foods. The objective for this study wanted to find out would informative product package affect consumers- behavior toward GM foods. An experiment was designed to investigate consumer behavior toward different product package information. The results indicated that the product package information influenced consumer product trust toward GM foods. Compared with the traceability production system information, the information about the GM rice was approved by authorized organizations could increase consumers product trust in GM foods. Consumers in Taiwan saw the information provided by authorized organizations more credible than other information.

Keywords: product package information, genetically modifiedfood, consumer product trust, risk perception, benefit perception.

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Authors: F. Esmaeilzadeh, M. E. Zeighami, J. Fathi

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This paper describes a one-dimensional numerical model for natural gas production from the dissociation of methane hydrate in hydrate-capped gas reservoir under depressurization and thermal stimulation. Some of the hydrate reservoirs discovered are overlying a free-gas layer, known as hydrate-capped gas reservoirs. These reservoirs are thought to be easiest and probably the first type of hydrate reservoirs to be produced. The mathematical equations that can be described this type of reservoir include mass balance, heat balance and kinetics of hydrate decomposition. These non-linear partial differential equations are solved using finite-difference fully implicit scheme. In the model, the effect of convection and conduction heat transfer, variation change of formation porosity, the effect of using different equations of state such as PR and ER and steam or hot water injection are considered. In addition distributions of pressure, temperature, saturation of gas, hydrate and water in the reservoir are evaluated. It is shown that the gas production rate is a sensitive function of well pressure.

Keywords: Hydrate reservoir, numerical modeling, depressurization, thermal stimulation, gas generation.

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Authors: G. Rezai, Z. Mohamed, M. N. Shamsudin, M. Z. Zahran

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The availability of broadband internet and increased access to computers has been instrumental in the rise of internet literacy in Malaysia. This development has led to the adoption of online shopping by many Malaysians. On another note, the Government has supported the development and production of local herbal products. This has resulted in an increase in the production and diversity of products by SMEs. The purpose of this study is to evaluate the influence of the Malaysian demographic factors and selected attitudinal characteristics in relation to the online purchasing of herbal products. In total, 1054 internet users were interviewed online and Chi-square analysis was used to determine the relationship between demographic variables and different aspects of online shopping for herbal products. The overall results show that the demographic variables such as age, gender, education level, income and ethnicity were significant when considering the online shopping antecedents of trust, quality of herbal products, perceived risks and perceived benefits.

Keywords: Demographic factors, herbal products, Malaysian consumers, online shopping, Chi-square analysis

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Authors: Mansur Hamma-adama, Abdul-Basit Sa’eed Ahmad

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Construction Industry is evolving amid the fourth industrial revolution. Transportation, commerce, manufacturing and many other industries ripened the current technological advancement and are striving to utilise every development in the IT sector. The procurement of construction works is known to be very conventional and backward in the adoption of digitalisation. The construction industry's procurement and supply chain are blamed for the most inflated cost of construction projects, mainly attributed to a lack of transparency and trust between the industry stakeholders. This research explores the challenges of e-procurement adoption in the industry and identifies the potential opportunities for its usage. This investigation's data are acquired through interviews, and the data are analysed using qualitative content analysis. This study reveals compounding challenges (i.e., corruption and lack of commitment) that lead to the failure of such efforts in Nigeria and the potential prospects (i.e., transparency and efficiency). This study is essential in developing a more effective and transparent process of procurement so that the Nigerian construction industry is not be left behind in the fast-digitalising markets.

Keywords: Challenges, construction industry, corruption, e-procurement, Nigeria, opportunities.

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Authors: O. Z. Jasim

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An accuracy digital map must satisfy the users for two main requirements, first, map must be visually readable and second, all the map elements must be in a good representation. These two requirements hold especially true for map generalization which aims at simplifying the representation of cartographic data. Different scales of maps are very important for any decision in any maps with different scales such as master plan and all the infrastructures maps in civil engineering. Cartographer cannot project the data onto a piece of paper, but he has to worry about its readability. The map layout of any geodatabase is very important, this layout is help to read, analyze or extract information from the map. There are many principles and guidelines of generalization that can be find in the cartographic literature. A manual reduction method for generalization depends on experience of map maker and therefore produces incompatible results. Digital generalization, rooted from conventional cartography, has become an increasing concern in both Geographic Information System (GIS) and mapping fields. This project is intended to review the state of the art of the new technology and help to understand the needs and plans for the implementation of digital generalization capability as well as increase the knowledge of production topographic maps.

Keywords: Cartography, digital generalization, mapping, GIS.

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Authors: Chanoknart Mayusoh

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In most of apparel creation, the designer usually uses standard pattern as a fundamental of pattern making. In the design of each kind of apparel, standard pattern is starting point of production. The importance of standard pattern is that it is able to have the apparel fits to general people. Therefore, standard pattern is standardized to be the same. Regardless which type of apparel, its standard pattern will have similar production. Anyhow, the author sees that the apparel design, regardless for which type of apparel, has to stick on the standard pattern as a fundamental of apparel design and this seems to be a limitation of apparel design without any designing alternative being developed. In the research on the creation of contemporary apparel Inspired by the sofa’s pattern structure in Vimanmek Mansion. The author has applied the pattern of the sofa and armchair to be the principle in the apparel design, instead of standard pattern, to create new form of structures and shapes making the contemporary apparel becomes more interesting and different than previous, can be used in daily life, as well as being a new alternative for apparel design. Those who are interesting in such idea can apply and develop it to be more variety further.

Keywords: Contemporary Apparel, Sofa’s Pattern, Armchair’s Pattern, Vimanmek Mansion.

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Authors: S. Kumar, R. Sultana

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This study was conducted to evaluate the effect of Aspergillus species on acridid populations which are major agricultural pests of rice, sugarcane, wheat, maize and fodder crops in Pakistan. Three and replicates i.e. Aspergillus flavus, A. fumigatus and A. niger, excluding the control, were held under laboratory conditions. It was observed that consumption faecal production of acridids was significantly reduced after the pathogenic application of Aspergillus. In the control replicate, the mortality ratio for stage (N₄-N₆) was maximum on day 2^nd i.e. [F_10.7 = 18.33, P < 0.05] followed by [F_4.20 = 07.85, P < 0.05] and [F_3.77 = 06.11, P < 0.05] on 4^th and 3^rd day, respectively. Similarly, it was a minimum i.e. [F_0.48 = 84.65, P < 0.05] on the 1^st day. It was also noted that faecal production of Acridid nymphs was not significantly affected when treated with conidial concentration in H₂O formulation; however, it was significantly reduced after the contamination with conidial concentration in oil. The high morality of acridids after contamination of Aspergillus supports their use as bio-control agent for reducing pest population. The present study recommends that exploration and screening must be conducted to provide additional pathogens for evaluation as potential biological control against grasshoppers and locusts.

Keywords: Acridid, agriculture, Aspergillus, formulation, Grasshoppers.

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Authors: L. Basha, E. Gjika

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This study is focused on analyzing climate change in Albania and its potential effects on cereal yields. Initially, monthly temperature and rainfalls in Albania were studied for the period 1960-2021. Climacteric variables are important variables when trying to model cereal yield behavior, especially when significant changes in weather conditions are observed. For this purpose, in the second part of the study, linear and nonlinear models explaining cereal yield are constructed for the same period, 1960-2021. The multiple linear regression analysis and lasso regression method are applied to the data between cereal yield and each independent variable: average temperature, average rainfall, fertilizer consumption, arable land, land under cereal production, and nitrous oxide emissions. In our regression model, heteroscedasticity is not observed, data follow a normal distribution, and there is a low correlation between factors, so we do not have the problem of multicollinearity. Machine learning methods, such as Random Forest (RF), are used to predict cereal yield responses to climacteric and other variables. RF showed high accuracy compared to the other statistical models in the prediction of cereal yield. We found that changes in average temperature negatively affect cereal yield. The coefficients of fertilizer consumption, arable land, and land under cereal production are positively affecting production. Our results show that the RF method is an effective and versatile machine-learning method for cereal yield prediction compared to the other two methods: multiple linear regression and lasso regression method.

Keywords: Cereal yield, climate change, machine learning, multiple regression model, random forest.

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Authors: S. R. De Oliveira, A. De Almeida, I. M. Dal Fabbro

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Residues are produced in all stages of human activities in terms of composition and volume which vary according to consumption practices and to production methods. Forms of significant harm to the environment are associated to volume of generated material as well as to improper disposal of solid wastes, whose negative effects are noticed more frequently in the long term. The solution to this problem constitutes a challenge to the government, industry and society, because they involve economic, social, environmental and, especially, awareness of the population in general. The main concerns are focused on the impact it can have on human health and on the environment (soil, water, air and sights). The hazardous waste produced mainly by industry, are particularly worrisome because, when improperly managed, they become a serious threat to the environment. In view of this issue, this study aimed to evaluate the management system of solid waste of a coprocessing industrial waste company, to propose improvements to the rejects generation management in a specific step of the Blending production process.

Keywords: Blending, environment, industrial residues.

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Authors: Faraj El Dabee, Romeo Marian, Yousef Amer

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Just-In-Time (JIT) is a lean manufacturing tool, which provides the benefits of efficiency, and of minimizing unnecessary costs for many organisations. However, the risks arising from these benefits have been disregarded. These risks impact on system processes disrupting the whole supply chain. This paper proposes an inventory model that can simultaneously reduce costs and risks in JIT systems. This model is developed to ascertain an optimal ordering strategy for procuring raw materials by using regular multi-external and local backup suppliers to reduce the total cost of the products, and at the same time to reduce the risks arising from this cost reduction within production systems. Some results that will be illustrated in the second part of this paper are presented.

Keywords: Lean manufacturing, Just-in-Time (JIT), production system, cost-risk reduction, inventory model, eternal supplier, local backup supplier.

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Authors: Suthat Turapan, Cattareya Yotkamchornkun, Kamchai Nuithitikul

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The production of biodiesel from crude palm oil with a homogeneous base catalyst is unlikely owing to considerable formation of soap. Free fatty acids (FFA) in crude palm oil need to be reduced, e.g. by esterification. This study investigated the activity of sulfated zirconia calcined at various temperatures for esterification of FFA in crude palm oil to biodiesel. It was found that under a proper reaction condition, sulfated zirconia well catalyzes esterification. FFA content can be reduced to an acceptable value for typical biodiesel production with a homogeneous base catalyst. Crystallinity and sulfate attachment of sulfated zirconia depend on calcination temperature during the catalyst preparation. Too low temperature of calcination gives amorphous sulfated zirconia which has low activity for esterification of FFA. In contrast, very high temperature of calcination removes sulfate group, consequently, conversion of FFA is reduced. The appropriate temperature range of calcination is 550-650 oC.

Keywords: Biodiesel, Esterification, Free fatty acids, Sulfatedzirconia.

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Authors: F. Gökgöz, M. E. Atmaca

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Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: Electricity market, portfolio optimization, risk management in electricity market, Sharpe ratio.

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Authors: Ali Dulla

Abstract:

This paper introduces a new dataset (and the methodology used to generate it) based on a wide range of historical Arabic documents containing clean data simple and homogeneous-page layouts. The experiments are implemented on printed and handwritten documents obtained respectively from some important libraries such as Qatar Digital Library, the British Library and the Library of Congress. We have gathered and commented on 150 archival document images from different locations and time periods. It is based on different documents from the 17th-19th century. The dataset comprises differing page layouts and degradations that challenge text line segmentation methods. Ground truth is produced using the Aletheia tool by PRImA and stored in an XML representation, in the PAGE (Page Analysis and Ground truth Elements) format. The dataset presented will be easily available to researchers world-wide for research into the obstacles facing various historical Arabic documents such as geometric correction of historical Arabic documents.

Keywords: Dataset production, ground truth production, historical documents, arbitrary warping, geometric correction.

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Authors: V. Pérez-Herranz, C. González-Buch, E. M. Ortega, S. Mestre

Abstract:

In this work new macroporous Ni electrodes modified with Au nanoparticles for hydrogen production have been developed. The supporting macroporous Ni electrodes have been obtained by means of the electrodeposition at high current densities. Then, the Au nanoparticles were synthesized and added to the electrode surface. The electrocatalytic behaviour of the developed electrocatalysts was studied by means of pseudo-steady-state polarization curves, electrochemical impedance spectroscopy (EIS) and hydrogen discharge curves. The size of the Au synthetized nanoparticles shows a monomodal distribution, with a very sharp band between 10 and 50 nm. The characteristic parameters d10, d50 and d90 were 14, 20 and 31 nm respectively. From Tafel polarization data has been concluded that the Au nanoparticles improve the catalytic activity of the developed electrodes towards the HER respect to the macroporous Ni electrodes. EIS permits to obtain the electrochemically active area by means of the roughness factor value. All the developed electrodes show roughness factor values in the same order of magnitude. From the activation energy results it can be concluded that the Au nanoparticles improve the intrinsic catalytic activity of the macroporous Ni electrodes.

Keywords: Au nanoparticles, hydrogen evolution reaction, porous Ni electrodes.

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