Search results for: Financial Indicators

Authors: Ali Akbar Jamali

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This paper discusses site selection process for biological soil conservation planning. It was supported by a valuefocused approach and spatial multi-criteria evaluation techniques. A first set of spatial criteria was used to design a number of potential sites. Next, a new set of spatial and non-spatial criteria was employed, including the natural factors and the financial costs, together with the degree of suitability for the Bonkuh watershed to biological soil conservation planning and to recommend the most acceptable program. The whole process was facilitated by a new software tool that supports spatial multiple criteria evaluation, or SMCE in GIS software (ILWIS). The application of this tool, combined with a continual feedback by the public attentions, has provided an effective methodology to solve complex decisional problem in biological soil conservation planning.

Keywords: GIS, Biological soil conservation planning, Spatial multi-criteria evaluation, Iran

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Authors: Peggy S. C. van Teunenbroek

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Recently, philanthropic crowd-funding -the raising of external funding from a large audience via social networks or social media- emerged as a new funding instrument for the Dutch cultural sector. However, such philanthropic crowdfunding in the US and the Netherlands is less successful than any other form of crowdfunding. We argue that social aspects are an important stimulus in philanthropic crowd-funding since previous research has shown that crowdfunding is stimulated by something beyond financial merits. Put simply, crowd-funding seems to be a socially motivated activity. In this paper we focus on the effect of social information, described as information about the donation behavior of previous donors. Using a classroom experiment we demonstrated a positive effect of social information on the donation behavior in crowdfunding campaigns. Our study extends previous research by showing who is affected by social information and why, and highlights how social information can be used to stimulate individuals to donate more to crowdfunding projects.

Keywords: Online donation behavior, philanthropic crowd-funding, social information, social influence, social motivation.

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Authors: Young Sik Kim, Tae Kwon Ha

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This article considers the problems of economic growth and Russian energy strategy. Also in this paper, the issues related to the economic growth prospects of Russian were discussed. Russian energy strategy without standing Russia`s stature in global energy markets, at the current production and extraction rates, will not be able to sustain its own production as well as fulfil its energy strategy. Indeed, Russia’s energy sector suffers from a chronic lack of investments which are necessary to modernize its energy supply system. In recent years, especially since the international financial crisis, Russia-EU energy cooperation has made substantive progress. Recently the break-through progress has been made, resulting mainly from long-term contributing factors between the countries and recent international economic and political situation changes. Analytical material presented in the article is intended for a more detailed or substantive analysis related to foreign economic relations of the countries and Russia as well.

Keywords: Russia, Energy strategy, Economic growth, Cooperation.

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Authors: Ya-Hui Lee, Ching-Yi Lu, Hui-Chuan Wei

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The purpose of this research was to explore the relation between proactive coping and well-being of middle-aged adults. We conducted survey research that with t-test, one way ANOVA, Pearson correlation and stepwise multiple regression to analyze. This research drew on a sample of 395 participants from the senior learning centers of Taiwan. The results provided the following findings: 1.The participants from different residence areas associated significant difference with proactive coping, but not with well-being. 2. The participants’ perceived of financial level associated significant difference with both proactive coping and well-being. 3. There was significant difference between participants’ income and well-being. 4. The proactive coping was positively correlated with well-being. 5. From stepwise multiple regression analysis showed that two dimensions of proactive coping had positive predictability. Finally, these results of this study can be provided as references for designing older adult educational programs in Taiwan.

Keywords: Middle-age adults, learners, proactive coping, well-being.

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Authors: Mahesh Kumar Farejiya, Anil Kumar Dikshit

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The toxic metal contamination and their biomagnification in marine fishes is a serious public health concern specially, in the coastal areas and the small islands. In the present study, concentration of toxic heavy metals like zinc (Zn), cadmium (Cd), lead (Pb), nickel (Ni), cobalt (Co), chromium (Cr) and mercury (Hg) were determined in the tissues of tunas (T. albacores) caught from the area near to Lakshdweep Islands. The heavy metals are one of the indicators for the marine water pollution. Geochemical weathering, industrialization, agriculture run off, fishing, shipping and oil spills are the major pollutants. The presence of heavy toxic metals in the near coastal water fishes at both western coast and eastern coast of India has been well established. The present study was conducted assuming that the distant island will not have the metals presence in a way it is at the near main land coast. However, our study shows that there is a significant amount of the toxic metals present in the tissues of tuna samples. The gill, lever and flash samples were collected in waters around Lakshdweep Islands. They were analyzed using ICP–AES for the toxic metals after microwave digestion. The concentrations of the toxic metals were found in all fish samples and the general trend of presence was in decreasing order as Zn > Al > Cd > Pb > Cr > Ni > Hg. The amount of metals was found to higher in fish having more weight.

Keywords: Biomagnifications, marine environment, toxic heavy metals, Tuna fish.

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Authors: Syed M. Shahid, Rozeena Shaikh, Syeda N. Nawab, Shah A. Qader, Abid Azhar, Tabassum Mahboob

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This study was designed to investigate the role of serum nitric oxide and sialic acid in the development of diabetic nephropathy as disease marker. Total 210 diabetic patients (age and sex matched) were selected followed by informed consent and divided into four groups (70 each) as I: control; II: diabetic; III: diabetic hypertensive; IV: diabetic nephropathy. The blood samples of all subjects were collected and analyzed for serum nitric oxide, sialic acid, fasting blood glucose, serum urea, creatinine, HbA1c and GFR. The BMI, systolic and diastolic blood pressures, blood glucose, HbA1c and serum sialic acid levels were high (p<0.01) in group II as compared to control subjects. The higher levels (p<0.01) of BMI, systolic and diastolic blood pressures, blood glucose, HbA1c, serum urea, creatinine and sialic acid were observed in group III and IV as compared to controls. Significantly low levels of GFR and serum nitric oxide (p<0.01) were observed in group III and IV as compared to controls. Results indicated that serum nitric oxide and sialic acid are the major biochemical indicators for micro and macrovascular complications of diabetes such as hypertension and nephropathy. These should be taken into account during screening procedures regarding identifications of the diabetic patients to get them rid of progressive renal impairment to ESRD.

Keywords: Diabetic nephropathy, hypertension, nitric oxide, sialic acid.

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Authors: Ivana Tadić, Željana Aljinović Barać, Nikolina Plazonić

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Living today in turbulent business environment forces companies to distinguish from each other, securing sustainable competitive growth and competitive advantage. The best possible solution is to invest (effort and financial resources) within companies’ different practices of human resource management (HRM), more specifically in employees’ knowledge, skills and abilities. Applying this approach companies will create enviable level of human capital securing its economic growth. Employees become human capital for their employers at the moment when they contribute with their own knowledge and abilities in creating material and non-material value of the company. The main aim of this research is to explore the relations between human capital investments and business excellence of Croatian companies. Furthermore, the differences in the level of human capital investments with regard to several companies’ characteristics (e.g. size of the company, ownership and type of the industry) are investigated.

Keywords:

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Authors: Marco Bötel, Tobias Gelau, Wendelin Gross

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Supply chain networks are frequently hit by unplanned events which lead to disruptions and cause operational and financial consequences. It is neither possible to avoid disruption risk entirely, nor are network members able to prepare for every possible disruptive event. Therefore a continuity planning should be set up which supports effective operational responses in supply chain networks in times of emergencies. In this research network related degrees of freedom which determine the options for responsive actions are derived from interview data. The findings are further embedded into a common risk management process. The paper provides support for researchers and practitioners to identify the network related options for responsive actions and to determine the need for improving the reaction capabilities.

Keywords: Supply Chain Risk Management, Business Continuity Planning, Degrees of Freedom, Risk Management Process, Mitigation Measures.

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Authors: Abeba Nigussie Turi, Xiangming Samuel Li

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Data-driven business models are more typical for established businesses than early-stage startups that strive to penetrate a market. This paper provided an extensive discussion on the principles of data analytics for early-stage digital entrepreneurial businesses. Here, we developed data-driven decision-making (DDDM) framework that applies to startups prone to multifaceted barriers in the form of poor data access, technical and financial constraints, to state some. The startup DDDM framework proposed in this paper is novel in its form encompassing startup data analytics enablers and metrics aligning with startups' business models ranging from customer-centric product development to servitization which is the future of modern digital entrepreneurship.

Keywords: Startup data analytics, data-driven decision-making, data acquisition, data generation, digital entrepreneurship.

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Authors: Rita U. Onolemhemhen, Saheed L. Bello, Akin P. Iwayemi

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The effectiveness of energy demand policy depends on identifying the key drivers of energy demand both in the short-run and the long-run. This paper examines the influence of regional differences on the link between energy demand and other explanatory variables for Nigeria, China and USA using the Vector Error Correction Model (VECM) approach. This study employed annual time series data on energy consumption (ED), real gross domestic product (GDP) per capita (RGDP), real energy prices (P) and urbanization (N) for a thirty-six-year sample period. The utilized time-series data are sourced from World Bank’s World Development Indicators (WDI, 2016) and US Energy Information Administration (EIA). Results from the study, shows that all the independent variables (income, urbanization, and price) substantially affect the long-run energy consumption in Nigeria, USA and China, whereas, income has no significant effect on short-run energy demand in USA and Nigeria. In addition, the long-run effect of urbanization is relatively stronger in China. Urbanization is a key factor in energy demand, it therefore recommended that more attention should be given to the development of rural communities to reduce the inflow of migrants into urban communities which causes the increase in energy demand and energy excesses should be penalized while energy management should be incentivized.

Keywords: Economic growth, energy demand, income, real GDP, urbanization, VECM.

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Authors: Hanadi Mubarak AL-Mubaraki, Michael Busler

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Innovation is the process of making changes, differences, and novelties in the products and services, adding values and business practices to create economic and social benefit. The purpose of this paper is to identify the strengths and weaknesses of innovation programs in developed and developing countries. We used a mixed-methods approach, quantitative as survey and qualitative as a multi-case study to examine innovation best practices in developed and developing countries. In addition, four case studies of innovation organisations based on the best practices and successful implementation in the developed and developing countries are selected for examination. The research findings provide guidance, suggestions, and recommendations for future implementation in developed and developing countries for practitioners such as policy makers, governments, funded organizations, and strategic institutions. In conclusion, innovation programs are vital tools for economic growth, knowledge, and technology transfer based on the several indicators such as creativity, entrepreneurship, role of government, role of university, strategic focus, new products, survival rate, job creation, start-up companies, and number of patents. The authors aim to conduct future research which will include a comparative study of innovation case studies between developed and developing countries for policy implications worldwide. The originality of this study makes a contribution to the current literature about the innovation best practice in developed and developing countries.

Keywords: Economic development, entrepreneurship, developed countries, innovation program.

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Authors: A. Harmse, R. Goede

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Students with high level skills are in demand, especially in scare skill environments. If universities wish to be successful and competitive, its students need to be adequately equipped with the necessary tools. Work Integrated Learning (WIL) is an essential component of the education of a student. The relevance of higher education should be assessed in terms of how it meets the needs of society and the world of work in a global economy. This paper demonstrates how to use Habermas's theory of communicative action to reflect on students- perceptions on their integration in the work environment to achieve social integration and financial justification. Interpretive questionnaires are used to determine the students- view of how they are integrated into society, and contributing to the economy. This paper explores the use of Habermas-s theory of communicative action to give theoretical and methodological guidance for the practice of social findings obtained in this inquiry.

Keywords: Discourse, Habermas, Information Systems Education, Theory of Communicative Action, Work Integrated Learning.

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Authors: D. Mirauda, M. Greco, A. Volpe Plantamura

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The necessity of updating the numerical models inputs, because of geometrical and resistive variations in rivers subject to solid transport phenomena, requires detailed control and monitoring activities. The human employment and financial resources of these activities moves the research towards the development of expeditive methodologies, able to evaluate the outflows through the measurement of more easily acquirable sizes. Recent studies highlighted the dependence of the entropic parameter on the kinematical and geometrical flow conditions. They showed a meaningful variability according to the section shape, dimension and slope. Such dependences, even if not yet well defined, could reduce the difficulties during the field activities, and also the data elaboration time. On the basis of such evidences, the relationships between the entropic parameter and the geometrical and resistive sizes, obtained through a large and detailed laboratory experience on steady free surface flows in conditions of macro and intermediate homogeneous roughness, are analyzed and discussed.

Keywords: Froude number, entropic parameter, roughness, water discharge.

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Authors: B. Gangloff, L. Mayoral, A. Rezrazi

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Three types of salary distribution are usually proposed by the theorists of distributive justice: Equality, equity and need. Their influence has been studied, taking into consideration (in terms of equity) the performance of the employees and their degree of allegiance/rebellion in what regards discriminatory hierarchical orders, by taking into account the reasons of such allegiance/rebellion (allegiance out of conviction, legalism or opportunism/ethical rebellion). Conducted in Argentina, the study has confronted 480 students (240 male and 240 female) with a practical case in which they had to advise a manager of a real estate agency on the allocation of a bonus amongst his employees. The latter were characterized according to their respective performance, one of them being further defined as being (or not) in a financial need and as having complied (or not) with a discriminatory hierarchical order regarding foreigners. The results show that the distribution of the bonus only follows the rules of equity and need: The employees more efficient, allegiant or in need, are rewarded more than the others. It is also noteworthy that the allegiant employees are rewarded in the same way, regardless of the reason for their allegiance, and that the employee who refuses to adopt a discriminatory conduct is penalized.

Keywords: Distributive justice, equity, performance, allegiance, ethic.

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Authors: Richard C.M. Yam, William Lo, Esther P.Y. Tang, Antonio, K.W. Lau

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Technological innovation capability (TIC) is defined as a comprehensive set of characteristics of a firm that facilities and supports its technological innovation strategies. An audit to evaluate the TICs of a firm may trigger improvement in its future practices. Such an audit can be used by the firm for self assessment or third-party independent assessment to identify problems of its capability status. This paper attempts to develop such an auditing framework that can help to determine the subtle links between innovation capabilities and business performance; and to enable the auditor to determine whether good practice is in place. The seven TICs in this study include learning, R&D, resources allocation, manufacturing, marketing, organization and strategic planning capabilities. Empirical data was acquired through a survey study of 200 manufacturing firms in the Hong Kong/Pearl River Delta (HK/PRD) region. Structural equation modelling was employed to examine the relationships among TICs and various performance indicators: sales performance, innovation performance, product performance, and sales growth. The results revealed that different TICs have different impacts on different performance measures. Organization capability was found to have the most influential impact. Hong Kong manufacturers are now facing the challenge of high-mix-low-volume customer orders. In order to cope with this change, good capability in organizing different activities among various departments is critical to the success of a company.

Keywords: Hong Kong/Pearl River Delta, Innovationaudit, Manufacturing, Technological innovation capability

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Authors: Amado, M. P., Amado, A., Poggi, F., Correia de Freitas, J.

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Today is widely understood that global energy consumption patterns are directly related to the urban expansion and development process. This expansion is based on the natural growth of human activities and has left most urban areas totally dependent on fossil fuel derived external energy inputs. This status-quo of production, transportation, storage and consumption of energy has become inefficient and is set to become even more so when the continuous increases in energy demand are factored in. The territorial management of land use and related activities is a central component in the search for more efficient models of energy use, models that can meet current and future regional, national and European goals.

In this paper a methodology is developed and discussed with the aim of improving energy efficiency at the municipal level. The development of this methodology is based on the monitoring of energy consumption and its use patterns resulting from the natural dynamism of human activities in the territory and can be utilized to assess sustainability at the local scale. A set of parameters and indicators are defined with the objective of constructing a systemic model based on the optimization, adaptation and innovation of the current energy framework and the associated energy consumption patterns. The use of the model will enable local governments to strike the necessary balance between human activities and economic development and the local and global environment while safeguarding fairness in the energy sector.

Keywords: Solar urban planning, solar smart city, urban development, energy efficiency.

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Authors: Khondokar Farid Ahmmed, Robin Bown

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It is widely recognized that the formal financing of Small and Medium Size Enterprises (SMEs) by Private Commercial Banks (PCBs) is restricted. Due to changing financial market competition, SMEs are now important customers to PCBs in the member countries of the Asian Development Bank (ADB). Various initiatives in enhancing the efficiency of risk assessment of PCBs have failed in increasing financing accessibility in the traditional financing system where information asymmetry is a key constraint. In this circumstance, PCBs need to undertake a holistic approach. Holistic approach refers to methods that attempt to fundamentally change established traditions. To undertake holistic approach, this study intends to find the entire established financing culture between PCBs and SMEs in a new lens beyond the tradition on the basis of two basic questions: “What is the traditional lending culture between PCBs and SMEs” and “What could be potential role of PCBs to develop that culture where focusing on SME financing to PCBs". This study considered formal SME financing in Bangladesh by focusing on SMEs applying for their first loan. Bangladesh is a member country of ADB. The data collection method is semi-structured and we utilized face-to-face interviews with in-depth branch managers, higher officials and owner-managers of SME customers of PCBs and higher officials of SME Foundation and the Bangladesh central bank. Discourse analysis method was used for data analysis on the frame of thematic discussion fully based on participants’ views. The research found that branch managers and loan officers have a high level of power in assessing and financing decision-making. There is a changing attitude in PCB sector in requiring flexible collateral assets. Branch managers (Loan Officers) consider value of business prospect of owner-mangers as complementary of collateral assets. However, the study found the assessment process of business prospect is entirely unstructured and linked with socio-cultural settings that does not support PCBs’ changing manner in terms of collateral requirement. The study redefined and classified collateral assets to include all financing constructs in a structure. The degree of value of the collateral assets determines the degree of business prospects. This study suggested applying an outside classroom-learning paradigm such as “knowledge tour” to enhance the value of the kinds of collateral assets. This is the scope of PCBs in increasing SMEs’ financing eligibility in win-win basis. The findings and proposition could be effective in other ADB member countries and audiences in the field.

Keywords: CCA, financing, information asymmetry, PCA, PCB, financing.

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Authors: Amin Lotfi Eghlim, Mehran pourgholi

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Explosion occurs due to sudden release of energy. Common examples of explosion include chemical, atomic, heat, and pressure tank (due to ignition) explosions. Petroleum, gas, and petrochemical industries operations are threatened by natural risks and processes. Fires and explosions are the greatest process risks which cause financial damages. This study aims at designing a single-floor structure for the control room of a petroleum refinery to be resistant against gas explosion loads, and the information related to the structure specifications have been provided regarding the fact that the structure is made on the ground's surface. In this research, the lateral stiffness of single pile is calculated by SPPLN.FOR computer program, and its value for 13624 KN/m single pile has been assessed. The analysis used due to the loading conditions, is dynamic nonlinear analysis with direct integration method.

Keywords: Gas Explosion Load, Petroleum Refinery, Single-Floor Structure

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Authors: Nerey H. Mvungi, Justinian Anatory, Fatuma Simba

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Digital broadcasting has been an area of active research, development, innovation and business models development in recent years. This paper presents a survey on the characteristics of the digital terrestrial television broadcasting (DTTB) standards, and implementation status of DTTB worldwide showing the standards adopted. It is clear that only the developed countries and some in the developing ones shall be able to beat the ITU set analogue to digital broadcasting migration deadline because of the challenges that these countries faces in digitizing their terrestrial broadcasting. The challenges to keep on track the DTTB migration plan are also discussed in this paper. They include financial, technology gap, policies alignment with DTTB technology, etc. The reported performance comparisons for the different standards are also presented. The interesting part is that the results for many comparative studies depends to a large extent on the objective behind such studies, hence counter claims are common.

Keywords: Digital terrestrial television broadcasting (DTTB) technologies, DTTB standards comparison, DTTB implementation.

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Authors: Veronika Kántor-Forgách

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To comply with the international human right legislation concerning the freedom of movement, transport systems are required to be made accessible in order that all citizens, regardless of their physical condition, have equal possibilities to use them. In Hungary, apparently there is a considerable default in the improvement of accessible public transport. This study is aiming to overview the current Hungarian situation and to reveal the reasons of the deficiency. The result shows that in spite of the relatively favourable juridical background linked to the accessibility needs and to the rights of persons with disabilities there is a strong delay in putting all in practice in the field of public transport. Its main reason is the lack of financial resource and referring to this the lack of creating mandatory regulations. In addition to this the proprietary rights related to public transport are also variable, which also limits the improvement possibilities. Consequently, first of all an accurate and detailed regulatory procedure is expected to change the present unfavourable situation and to create the conditions of the fast realization, which is already behind time.

Keywords: accessibility, legislation, people with reducedmobility, public transport.

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Authors: Rasaki O. Olanrewaju

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The driven processes of Wiener and Lévy are known self-standing Gaussian-Markov processes for fitting non-linear dynamical Vasciek model. In this paper, a coincidental Gaussian density stationarity condition and autocorrelation function of the two driven processes were established. This led to the conflation of Wiener and Lévy processes so as to investigate the efficiency of estimates incorporated into the one-dimensional Vasciek model that was estimated via the Maximum Likelihood (ML) technique. The conditional laws of drift, diffusion and stationarity process was ascertained for the individual Wiener and Lévy processes as well as the commingle of the two processes for a fixed effect and Autoregressive like Vasciek model when subjected to financial series; exchange rate of Naira-CFA Franc. In addition, the model performance error of the sub-merged driven process was miniature compared to the self-standing driven process of Wiener and Lévy.

Keywords: Wiener process, Lévy process, Vasciek model, drift, diffusion, Gaussian density stationary.

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Authors: Rajab Abdullah Hokoma

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Manufacturing, production and service industries within Libya have struggled with many problems during the past two decades due to many difficulties. These problems have created a negative impact on the productivity and utilization of many industries around the country. This paper studies the implementation levels of the manufacturing control systems known as Manufacturing Resource Planning (MRPII) being adapted within some Libyan industries. A survey methodology has been applied for this research, based on the survey analysis, the results pointed out that the system within these industries has a modest strategy towards most of the areas that are considered as being very crucial in implementing these systems successfully. The findings also show a variation within these implementation levels with a respect to the key-elements that related to MRPII, giving the highest levels in the emphasise on financial data accuracy. The paper has also identified limitations within the investigated manufacturing and managerial areas and has pointed to where senior managers should take immediate actions in order to achieve effective implementation of MRPII within their business area.

Keywords: Control, Industry, Manufacturing, Survey, System

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Authors: J. Levodo, A. Ford, I. Chaer

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Africa enjoys some of the best solar radiation levels in the world averaging between 4-6 kWh/m2/day for most of the year and the global economic and political conditions that tend to make African countries more dependent on their own energy resources have caused growing interest in renewable energy based technologies. However to-date, implementation of modern Energy Technologies in Africa is still very low especially the use of solar conversion technologies. This paper presents literature review and analysis relating to the techno-economic feasibility of solar photovoltaic power generation in Africa. The literature is basically classified into the following four main categories. Techno-economic feasibility of solar photovoltaic power generation, design methods, performance evaluations of various systems and policy of potential future of technological development of photovoltaic (PV) in Africa by exploring the impact of alternative policy instruments and technology cost reductions on the financial viability of investing solar photovoltaic in Africa.

Keywords: Africa Solar Potential, Policy, Photovoltaic, Technologies.

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Authors: Babanyara Y. Y., Ibrahim D. B., Garba T., Bogoro A. G., Abubakar, M. Y.

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Medical care is vital for our life, health and well-being. But the waste generated from medical activities can be hazardous, toxic and even lethal because of their high potential for diseases transmission. The hazardous and toxic parts of waste from healthcare establishments comprising infectious, medical and radioactive material as well as sharps constitute a grave risks to mankind and the environment, if these are not properly treated / disposed or are allowed to be mixed with other municipal waste. In Nigeria, practical information on this aspect is inadequate and research on the public health implications of poor management of medical wastes is few and limited in scope. Findings drawn from Literature particularly in the third world countries highlights financial problems, lack of awareness of risks involved in MWM, lack of appropriate legislation and lack of specialized MWM staff. The paper recommends how MWM practices can be improved in medical facilities.

Keywords: Environmental pollution, infectious, management, medical waste, public health.

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Authors: Guilan Huang

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In 2013 and 2014, the U.S. Food and Drug Administration (FDA) collected data from selected fast food restaurants and full service restaurants for tracking changes in the occurrence of foodborne illness risk factors. This paper discussed how we customized spatial random sampling method by considering financial position and availability of FDA resources, and how we enriched restaurants data with location. Location information of restaurants provides opportunity for quantitatively determining random sampling within non-government units (e.g.: 240 kilometers around each data-collector). Spatial analysis also could optimize data-collectors’ work plans and resource allocation. Spatial analytic and processing platform helped us handling the spatial random sampling challenges. Our method fits in FDA’s ability to pinpoint features of foodservice establishments, and reduced both time and expense on data collection.

Keywords: Geospatial technology, restaurant, retail food risk factors study, spatial random sampling.

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Authors: Bassam Istanbouli

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Organizations are living in a very competitive and dynamic environment which is constantly changing. In order to achieve a high level of service, the products and processes of these organizations need to be flexible and evolvable. If the supply chains are not modular and well designed, changes can bring combinatorial effects to most areas of a company from its management, financial, documentation, logistics and its information structure. Applying the normalized system’s concept to segments of the supply chain may help in reducing those ripple effects, but it may also increase lead times. Lead times are important and can become a decisive element in gaining customers. Industries are always under the pressure in providing good quality products, at competitive prices, when and how the customer wants them. Most of the time, the customers want their orders now, if not yesterday. The above concept will be proven by examining lead times in a manufacturing example before and after applying normalized systems concept to that segment of the chain. We will then show that although we can minimize the combinatorial effects when changes occur, the lead times will be increased.

Keywords: Supply chain, lead time, normalization, modular.

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Authors: Changhong Guo, Shaomei Fang, Yong He

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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: T. P. Singh, Vijay Gautam

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Gladiolus is an important cash crop and is grown mainly for its elegant spikes. Traditionally the gladiolus corms are planted manually which is very tedious, time consuming and labor intensive operation. So far, there is no planter available for planting of gladiolus corms. With a view to mechanize the planting operation of this horticultural crop, a prototype of 4-row gladiolus planter was developed and its performance was evaluated in-situ condition. Cupchain type metering device was used to place each single gladiolus corm in furrow at required spacing while planting. Three levels of corm spacing viz 15, 20 and 25 cm and four levels of forward speed viz 1.0, 1.5, 2.0 and 2.5 km/h was taken as evaluation parameter for the planter. The performance indicators namely corm spacing in each row, coefficient of uniformity, missing index, multiple index, quality of feed index, number of corms per meter length, mechanical damage to the corms etc. were determined during the field test. The data was statistically analyzed using Completely Randomized Design (CRD) for testing the significance of the parameters. The result indicated that planter was able to drop the corms at required nominal spacing with minor variations. The highest deviation from the mean corm spacing was observed as 3.53 cm with maximum coefficient of variation as 13.88%. The highest missing and quality of feed indexes were observed as 6.33% and 97.45% respectively with no multiples. The performance of the planter was observed better at lower forward speed and wider corm spacing. The field capacity of the planter was found as 0.103 ha/h with an observed field efficiency of 76.57%.

Keywords: Coefficient of uniformity, corm spacing, gladiolus planter, mechanization.

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Authors: Catherine Equey Balzli

Abstract:

Old age retirement pensions are an important concern among the Swiss but estimating one’s income after retirement is difficult due to the Swiss insurance system’s complexity. This project’s aim is to prepare for developing a digital platform that will allow individuals to plan for retirement in a simplified manner. The main objective of the platform will be to give individuals the tools to check that their savings and retirement benefits will allow them to continue the lifestyle to which they are accustomed once they are retired. The research results from qualitative (focus group) and quantitative (survey) methodologies, recommend the scope and functionalities for a digital platform to be developed. A main outcome is the need to limit the platform’s scope to old-age pension only (excluding survivors’ or disability pensions, for instance). Furthermore, an outcome regarding the functionalities is the proposition of scenarios such as early retirement, changes to income, or modifications to personal status. The development of the digital platform will be a subsequent project.

Keywords: Benefit statement, digital platform, retirement financial planning, social insurances.

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Authors: Hycham Aboutaleb, Bruno Monsuez

Abstract:

Current systems complexity has reached a degree that requires addressing conception and design issues while taking into account environmental, operational, social, legal and financial aspects. Therefore, one of the main challenges is the way complex systems are specified and designed. The exponential growing effort, cost and time investment of complex systems in modeling phase emphasize the need for a paradigm, a framework and an environment to handle the system model complexity. For that, it is necessary to understand the expectations of the human user of the model and his limits. This paper presents a generic framework for designing complex systems, highlights the requirements a system model needs to fulfill to meet human user expectations, and suggests a graphbased formalism for modeling complex systems. Finally, a set of transformations are defined to handle the model complexity.

Keywords: Higraph-based, formalism, system engineering paradigm, modeling requirements, graph-based transformations.

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