Search results for: Supply risk
1745 Financial Analysis Analogies for Software Risk
Authors: Masood Uzzafer
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A dynamic software risk assessment model is presented. Analogies between dynamic financial analysis and software risk assessment models are established and based on these analogies it suggested that dynamic risk model for software projects is the way to move forward for the risk assessment of software project. It is shown how software risk assessment change during different phases of a software project and hence requires a dynamic risk assessment model to capture these variations. Further evolution of dynamic financial analysis models is discussed and mapped to the evolution of software risk assessment models.Keywords: Software Risk Assessment, Software ProjectManagement, Software Cost, Dynamic Modeling.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15531744 Three-Stage Mining Metals Supply Chain Coordination and Product Quality Improvement with Revenue Sharing Contract
Authors: Hamed Homaei, Iraj Mahdavi, Ali Tajdin
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One of the main concerns of miners is to increase the quality level of their products because the mining metals price depends on their quality level; however, increasing the quality level of these products has different costs at different levels of the supply chain. These costs usually increase after extractor level. This paper studies the coordination issue of a decentralized three-level supply chain with one supplier (extractor), one mineral processor and one manufacturer in which the increasing product quality level cost at the processor level is higher than the supplier and at the level of the manufacturer is more than the processor. We identify the optimal product quality level for each supply chain member by designing a revenue sharing contract. Finally, numerical examples show that the designed contract not only increases the final product quality level but also provides a win-win condition for all supply chain members and increases the whole supply chain profit.
Keywords: Three-stage supply chain, product quality improvement, channel coordination, revenue sharing.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 11031743 Benchmarking Role in Internal Supply Chain Management of Indian Manufacturing Industries
Authors: Kailash, Rajeev Kumar Saha, Sanjeev Goyal
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Due to day by day competition in the market, the implementation of benchmarking practice is necessary for improving existing internal supply chain management performance of manufacturing industries. The continuous benchmarking practice might be helpful to increase the productivity of middle scale medium enterprises (MSMEs) by reducing the idle time during the flow of raw material/products, funds and information. The objective of this research paper is to provide an overview of benchmarking, benchmarking wheel, benchmarking tool and techniques and its importance through literature review of reputed journals. This concept of benchmarking may be fruitful in the process of gap identification and for improving the performance of internal supply chain management of Indian manufacturing industries.Keywords: Benchmarking, benchmarking cyclic wheel, supply chain management, types of benchmarking, supply chain management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13081742 Coordination on Agrifood Supply Chain
Authors: Martha Liliana Reina Usuga, Wilson Adarme Jaimes, Oscar Eduardo Suarez
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Coordinated supply chain represents major challenges for the different actors involved in it, because each agent responds to individual interests. The paper presents a framework with the reviewed literature regarding the system's decision structure and nature of demand. Later, it characterizes an agri food supply chain in the Central Region of Colombia, it responds to a decentralized distribution system and a stochastic demand. Finally, the paper recommends coordinating the chain based on shared information, and mechanisms for each agent, as VMI (vendor-managed inventory) strategy for farmer-buyer relationship, information system for farmers and contracts for transportation service providers.Keywords: Agri-food supply chain, Coordination mechanisms, Decentralized distribution system, Supply chain coordination.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23521741 A Framework for Supply Chain Efficiency Evaluation of Mass Customized Automobiles
Authors: Arshia Khan, Hans-Dietrich Haasis
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Different tools of the supply chain should be managed very efficiently in mass customization. In the automobile industry, there are different strategies to manage these tools. We need to investigate which strategies among the different ones are successful and which are not. There is lack in literature regarding such analysis. Keeping this in view, the purpose of this paper is to construct a framework and model which can help to analyze the supply chain of mass customized automobiles quantitatively for future studies. Furthermore, we will also consider that which type of data can be used for the suggested model and where it can be taken from. Such framework can help to bring insight for future analysis.Keywords: Mass customization, supply chain, inventory, distribution, automobile industry.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16231740 A Floating Gate MOSFET Based Novel Programmable Current Reference
Authors: V. Suresh Babu, Haseena P. S., Varun P. Gopi, M. R. Baiju
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In this paper a scheme is proposed for generating a programmable current reference which can be implemented in the CMOS technology. The current can be varied over a wide range by changing an external voltage applied to one of the control gates of FGMOS (Floating Gate MOSFET). For a range of supply voltages and temperature, CMOS current reference is found to be dependent, this dependence is compensated by subtracting two current outputs with the same dependencies on the supply voltage and temperature. The system performance is found to improve with the use of FGMOS. Mathematical analysis of the proposed circuit is done to establish supply voltage and temperature independence. Simulation and performance evaluation of the proposed current reference circuit is done using TANNER EDA Tools. The current reference shows the supply and temperature dependencies of 520 ppm/V and 312 ppm/oC, respectively. The proposed current reference can operate down to 0.9 V supply.
Keywords: Floating Gate MOSFET, current reference, self bias scheme, temperature independency, supply voltage independency.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18001739 A Study on Energy Efficiency of Vertical Water Treatment System with DC Power Supply
Authors: Young-Kwan Choi, Gang-Wook Shin, Sung-Taek Hong
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Water supply system consumes large amount of power load during water treatment and transportation of purified water. Many energy conserving high efficiency materials such as DC motor and LED light have recently been introduced to water supply system for energy conservation. This paper performed empirical analysis on BLDC and AC motors and comparatively analyzed the change in power according to DC power supply ratio in order to conserve energy of a next-generation water treatment system called vertical water treatment system. In addition, a DC distribution system linked with photovoltaic generation was simulated to analyze the energy conserving effect of DC load.
Keywords: Vertical Water Treatment System, DC Power Supply, Energy Efficiency, BLDC.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21311738 A Design of Supply Chain Management System with Flexible Planning Capability
Authors: Chia-Hui Huang, Han-Ying Kao
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In production planning (PP) periods with excess capacity and growing demand, the manufacturers have two options to use the excess capacity. First, it could do more changeovers and thus reduce lot sizes, inventories, and inventory costs. Second, it could produce in excess of demand in the period and build additional inventory that can be used to satisfy future demand increments, thus delaying the purchase of the next machine that is required to meet the growth in demand. In this study we propose an enhanced supply chain planning model with flexible planning capability. In addition, a 3D supply chain planning system is illustrated.Keywords: Supply chain, capacity expansion, inventory management, planning system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15601737 Deep Reinforcement Learning for Optimal Decision-making in Supply Chains
Authors: Nitin Singh, Meng Ling, Talha Ahmed, Tianxia Zhao, Reinier van de Pol
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We propose the use of Reinforcement Learning (RL) as a viable alternative for optimizing supply chain management, particularly in scenarios with stochasticity in product demands. RL’s adaptability to changing conditions and its demonstrated success in diverse fields of sequential decision-making make it a promising candidate for addressing supply chain problems. We investigate the impact of demand fluctuations in a multi-product supply chain system and develop RL agents with learned generalizable policies. We provide experimentation details for training RL agents and a statistical analysis of the results. We study generalization ability of RL agents for different demand uncertainty scenarios and observe superior performance compared to the agents trained with fixed demand curves. The proposed methodology has the potential to lead to cost reduction and increased profit for companies dealing with frequent inventory movement between supply and demand nodes.
Keywords: Inventory Management, Reinforcement Learning, Supply Chain Optimization, Uncertainty.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3781736 Value Analysis Dashboard in Supply Chain Management: Real Case Study from Iran
Authors: Seyedehfatemeh Golrizgashti, Seyedali Dalil
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The goal of this paper is proposing a supply chain value dashboard in home appliance manufacturing firms to create more value for all stakeholders via balanced scorecard approach. Balanced scorecard is an effective approach that managers have used to evaluate supply chain performance in many fields but there is a lack of enough attention to all supply chain stakeholders, improving value creation and, defining correlation between value indicators and performance measuring quantitatively. In this research the key stakeholders in home appliance supply chain, value indicators with respect to create more value for stakeholders and the most important metrics to evaluate supply chain value performance based on balanced scorecard approach have been selected via literature review. The most important indicators based on expert’s judgment acquired by in survey focused on creating more value for. Structural equation modelling has been used to disclose relations between value indicators and balanced scorecard metrics. The important result of this research is identifying effective value dashboard to create more value for all stakeholders in supply chain via balanced scorecard approach and based on an empirical study covering ten home appliance manufacturing firms in Iran. Home appliance manufacturing firms can increase their stakeholder's satisfaction by using this value dashboard.Keywords: Supply chain management, balanced scorecard, value, Structural modeling, Stakeholders.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20771735 Toward a Risk Assessment Model Based On Multi-Agent System for Cloud Consumer
Authors: Saadia Drissi, Siham Benhadou, Hicham Medromi
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The cloud computing is an innovative paradigm that introduces several changes in technology that have resulted a new ways for cloud providers to deliver their services to cloud consumers mainly in term of security risk assessment, thus, adapting a current risk assessment tools to cloud computing is a very difficult task due to its several characteristics that challenge the effectiveness of risk assessment approaches. As consequence, there is a need of risk assessment model adapted to cloud computing. This paper requires a new risk assessment model based on multi-agent system and AHP model as fundamental steps towards the development of flexible risk assessment approach regarding cloud consumers.
Keywords: Cloud computing, risk assessment model, multi-agent system, AHP model, cloud consumer.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22551734 Simulation Model for Optimizing Energy in Supply Chain Management
Authors: Nazli Akhlaghinia, Ali Rajabzadeh Ghatari
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In today's world, with increasing environmental awareness, firms are facing severe pressure from various stakeholders, including the government and customers, to reduce their harmful effects on the environment. Over the past few decades, the increasing effects of global warming, climate change, waste, and air pollution have increased the global attention of experts to the issue of the green supply chain and led them to the optimal solution for greenery. Green supply chain management (GSCM) plays an important role in motivating the sustainability of the organization. With increasing environmental concerns, the main objective of the research is to use system thinking methodology and Vensim software for designing a dynamic system model for green supply chain and observing behaviors. Using this methodology, we look for the effects of a green supply chain structure on the behavioral dynamics of output variables. We try to simulate the complexity of GSCM in a period of 30 months and observe the complexity of behaviors of variables including sustainability, providing green products, and reducing energy consumption, and consequently reducing sample pollution.
Keywords: Supply chain management, green supply chain management, system dynamics, energy consumption.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 9081733 Single and Multiple Sourcing in the Auto-Manufacturing Industry
Authors: Sung Ho Ha, Eun Kyoung Kwon, Jong Sik Jin, Hyun Sun Park
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This article outlines a hybrid method, incorporating multiple techniques into an evaluation process, in order to select competitive suppliers in a supply chain. It enables a purchaser to do single sourcing and multiple sourcing by calculating a combined supplier score, which accounts for both qualitative and quantitative factors that have impact on supply chain performance.Keywords: Analytic hierarchy process, Data envelopment analysis, Neural network, Supply chain management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 26601732 Credit Risk Management and Analysis in an Iranian Bank
Authors: Isa Nakhai Kamal Abadi, Esmaeel Saberi, Ehsan Mirjafari
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While financial institutions have faced difficulties over the years for a multitude of reasons, the major cause of serious banking problems continues to be directly related to lax credit standards for borrowers and counterparties, poor portfolio risk management, or a lack of attention to changes in economic or other circumstances that can lead to a deterioration in the credit standing of a bank's counterparties. Credit risk is most simply defined as the potential that a bank borrower or counterparty will fail to meet its obligations in accordance with agreed terms. The goal of credit risk management is to maximize a bank's risk-adjusted rate of return by maintaining credit risk exposure within acceptable parameters. Banks need to manage the credit risk inherent in the entire portfolio as well as the risk in individual credits or transactions. Banks should also consider the relationships between credit risk and other risks. The effective management of credit risk is a critical component of a comprehensive approach to risk management and essential to the long-term success of any banking organization. In this research we also study the relationship between credit risk indices and borrower-s timely payback in Karafarin bank.Keywords: Financial Ratios; Spearman Test; Bank OperationsRisk
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17701731 The Supply Chain Management and Supply Chain Responsiveness in the Competitiveness of the Agrofood Sector: An Econometric Analysis
Authors: Alma Lucero Ortiz, Mario Gómez
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The purpose of this article is to conduct a theoretical and empirical study in order to analyze how the Supply Chain Management (SCM) and Supply Chain Responsiveness (SCR) affects the competitive advantage of the agrofood sector in 2017, in particular, the exporting companies of berries in Mexico. This work is presented in two parts, as a first part is developed a theoretical analysis of the main studies to measure the variables subject to the study. Subsequently an empirical study is carried out through field work and to process the data a logical econometric model is performed to be able to evaluate the effect of the SCM and SCR on the competitive advantage in the companies exporting berries. The results suggest that the SCM has a positive effect on the competitive advantage of the companies under study, so it is necessary to implement greater practices oriented towards a suitable SCM for the companies to achieve a competitive performance. In the case of SCR, it was found that this variable does not have effect on competitive advantage.
Keywords: Competitive advantage, econometric model, supply chain management, supply chain responsiveness, sustained competitive advantage.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 11891730 Comprehensive Risk Assessment Model in Agile Construction Environment
Authors: Jolanta Tamošaitienė
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The article focuses on a developed comprehensive model to be used in an agile environment for the risk assessment and selection based on multi-attribute methods. The model is based on a multi-attribute evaluation of risk in construction, and the determination of their optimality criterion values are calculated using complex Multiple Criteria Decision-Making methods. The model may be further applied to risk assessment in an agile construction environment. The attributes of risk in a construction project are selected by applying the risk assessment condition to the construction sector, and the construction process efficiency in the construction industry accounts for the agile environment. The paper presents the comprehensive risk assessment model in an agile construction environment. It provides a background and a description of the proposed model and the developed analysis of the comprehensive risk assessment model in an agile construction environment with the criteria.
Keywords: Assessment, environment, agile, model, risk.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 11001729 Fuzzy Analytic Hierarchy Process for Determination of Supply Chain Performance Evaluation Criteria
Authors: Ibrahim Cil, Onur Kurtcu, H. Ibrahim Demir, Furkan Yener, Yusuf. S. Turkan, Muharrem Unver, Ramazan Evren
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Fuzzy AHP (Analytic Hierarchy Process) method is decision-making way at the end of integrating the current AHP method with fuzzy structure. In this study, the processes of production planning, inventory management and purchasing department of a system were analysed and were requested to decide the performance criteria of each area. At this point, the current work processes were analysed by various decision-makers and comparing each criteria by giving points according to 1-9 scale were completed. The criteria were listed in order to their weights by using Fuzzy AHP approach and top three performance criteria of each department were determined. After that, the performance criteria of supply chain consisting of three departments were asked to determine. The processes of each department were compared by decision-makers at the point of building the supply chain performance system and getting the performance criteria. According to the results, the criteria of performance system of supply chain by using Fuzzy AHP were determined for which will be used in the supply chain performance system in the future.
Keywords: AHP, fuzzy, performance evaluation, supply chain.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 10561728 A Risk Management Approach for Nigeria Manufacturing Industries
Authors: Olaniyi O. Omoyajowo
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To be successful in today’s competitive global environment, manufacturing industry must be able to respond quickly to changes in technology. These changes in technology introduce new risks and hazards. The management of risk/hazard in a manufacturing process recommends method through which the success rate of an organization can be increased. Thus, there is a continual need for manufacturing industries to invest significant amount of resources in risk management, which in turn optimizes the production output and profitability of any manufacturing industry (if implemented properly). To help improve the existing risk prevention and mitigation practices in Small and Medium Enterprise (SME) in Nigeria Manufacturing Industries (NMI), the researcher embarks on this research to develop a systematic Risk Management process.
Keywords: Manufacturing industries, production output, risk, risk management, SMEs.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19351727 Measuring Risk Levels and Efficacy of Risk Management Strategies in Vietnamese Catfish Farming
Authors: Tru C. Le, France Cheong
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Although the Vietnamese catfish farming has grown at very high rates in recent years, the industry has also faced many problems affecting its sustainability. This paper studies the perceptions of catfish farmers regarding risk and risk management strategies in their production activities. Specifically, the study aims to measure the consequences, likelihoods, and levels of risks as well as the efficacy of risk management in Vietnamese catfish farming. Data for the study were collected through a sample of 261 catfish farmers in the Mekong Delta, Vietnam using a questionnaire survey in 2008. Results show that, in general, price and production risks were perceived as the most important risks. Farm management and technical measures were perceived more effective than other kinds of risk management strategies in risk reduction. Although price risks were rated as important risks, price risk management strategies were not perceived as important measures for risk mitigation. The results of the study are discussed to provide implications for various industry stakeholders, including policy makers, processors, advisors, and developers of new risk management strategies.Keywords: Aquaculture, catfish farming, sources of risk, riskmanagement, risk strategies, risk mitigation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19851726 Optimal Risk Reduction in the Railway Industry by Using Dynamic Programming
Authors: Michael Todinov, Eberechi Weli
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The paper suggests for the first time the use of dynamic programming techniques for optimal risk reduction in the railway industry. It is shown that by using the concept ‘amount of removed risk by a risk reduction option’, the problem related to optimal allocation of a fixed budget to achieve a maximum risk reduction in the railway industry can be reduced to an optimisation problem from dynamic programming. For n risk reduction options and size of the available risk reduction budget B (expressed as integer number), the worst-case running time of the proposed algorithm is O (n x (B+1)), which makes the proposed method a very efficient tool for solving the optimal risk reduction problem in the railway industry.
Keywords: Optimisation, railway risk reduction, budget constraints, dynamic programming.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21791725 Organization of the Purchasing Function for Innovation
Authors: Jasna Prester, Ivana Rašić Bakarić, Božidar Matijević
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Innovations not only contribute to competitiveness of the company but have also positive effects on revenues. On average, product innovations account to 14 percent of companies’ sales. Innovation management has substantially changed during the last decade, because of growing reliance on external partners. As a consequence, a new task for purchasing arises, as firms need to understand which suppliers actually do have high potential contributing to the innovativeness of the firm and which do not. Proper organization of the purchasing function is important since for the majority of manufacturing companies deal with substantial material costs which pass through the purchasing function. In the past the purchasing function was largely seen as a transaction-oriented, clerical function but today purchasing is the intermediate with supply chain partners contributing to innovations, be it product or process innovations. Therefore, purchasing function has to be organized differently to enable firm innovation potential. However, innovations are inherently risky. There are behavioral risk (that some partner will take advantage of the other party), technological risk in terms of complexity of products and processes of manufacturing and incoming materials and finally market risks, which in fact judge the value of the innovation. These risks are investigated in this work. Specifically, technological risks which deal with complexity of the products, and processes will be investigated more thoroughly. Buying components or such high edge technologies necessities careful investigation of technical features and therefore is usually conducted by a team of experts. Therefore it is hypothesized that higher the technological risk, higher will be the centralization of the purchasing function as an interface with other supply chain members. Main contribution of this research lies is in the fact that analysis was performed on a large data set of 1493 companies, from 25 countries collected in the GMRG 4 survey. Most analyses of purchasing function are done by case study analysis of innovative firms. Therefore this study contributes with empirical evaluations that can be generalized.
Keywords: Purchasing function organization, innovation, technological risk, GMRG 4 survey.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 37201724 A Supply Chain Perspective of RFID Systems
Authors: A. N. Nambiar
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Radio Frequency Identification (RFID) initially introduced during WW-II, has revolutionized the world with its numerous benefits and plethora of implementations in diverse areas ranging from manufacturing to agriculture to healthcare to hotel management. This work reviews the current research in this area with emphasis on applications for supply chain management and to develop a taxonomic framework to classify literature which will enable swift and easy content analysis and also help identify areas for future research.Keywords: RFID, supply chain, applications, classification framework.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23031723 Fresh Vegetable Supply Chain in Nakorn Pathom Province for Exporting
Authors: P. Waiyawuththanapoom, P. Tirastittam
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Thailand is the agriculture country as the weather and geography are suitable for agriculture environment. In 2011, the quantity of exported fresh vegetable was 126,069 tons which valued 117.1 million US dollars. Although the fresh vegetable has a high potential in exporting, there also have a lack of knowledge such as chemical usage, land usage, marketing and also the transportation and logistics. Nakorn Pathom province is the area which the farmer and manufacturer of fresh vegetable located. The objectives of this study are to study the basic information of the local fresh vegetable farmers in Nakorn Pathom province, to study the factor which effects the management of the fresh vegetable supply chain in Nakorn Pathom province and to study the problems and obstacle of the fresh vegetable supply chain in Nakorn Pathom province. This study is limited to the flow of the Nakorn Pathom province fresh vegetable from the farmers to the country which import the vegetable from Thailand. The populations of this study are 100 local farmers in Nakorn Pathom province. The result of this study shows that the key process of the fresh vegetable supply chain is in the supply sourcing process and manufacturing process.Keywords: Exporting, Fresh Vegetable, Nakorn Pathom Province, Supply Chain.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18381722 Influence of Radio Frequency Identification Technology in Logistic, Inventory Control and Supply Chain Optimization
Authors: H. Amoozad-khalili, R. Tavakkoli-Moghaddam, N.Shahab-Dehkordi
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The main aim of Supply Chain Management (SCM) is to produce, distribute, logistics and deliver goods and equipment in right location, right time, right amount to satisfy costumers, with minimum time and cost waste. So implementing techniques that reduce project time and cost, and improve productivity and performance is very important. Emerging technologies such as the Radio Frequency Identification (RFID) are now making it possible to automate supply chains in a real time manner and making them more efficient than the simple supply chain of the past for tracing and monitoring goods and products and capturing data on movements of goods and other events. This paper considers concepts, components and RFID technology characteristics by concentration of warehouse and inventories management. Additionally, utilization of RFID in the role of improving information management in supply chain is discussed. Finally, the facts of installation and this technology-s results in direction with warehouse and inventory management and business development will be presented.Keywords: Logistics, Supply Chain Management, RFIDTechnology, Inventory Control.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18341721 Sovereign Credit Risk Measures
Authors: Kristýna Pokorná, Petr Teplý
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This paper focuses on sovereign credit risk meaning a hot topic related to the current Eurozone crisis. In the light of the recent financial crisis, market perception of the creditworthiness of individual sovereigns has changed significantly. Before the outbreak of the financial crisis, market participants did not differentiate between credit risk born by individual states despite different levels of public indebtedness. In the proceeding of the financial crisis, the market participants became aware of the worsening fiscal situation in the European countries and started to discriminate among government issuers. Concerns about the increasing sovereign risk were reflected in surging sovereign risk premium. The main of this paper is to shed light on the characteristics of the sovereign risk with the special attention paid to the mutual relation between credit spread and the CDS premium as the main measures of the sovereign risk premium.Keywords: cointegration, credit default swap, credit risk, credit spread, sovereign risk
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19531720 Multi-Objective Planning and Operation of Water Supply Systems Subject to Climate Change
Authors: B. J. C. Perera, D. A. Sachindra, W. Godoy., A.F. Barton, F. Huang
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Many water supply systems in Australia are currently undergoing significant reconfiguration due to reductions in long term average rainfall and resulting low inflows to water supply reservoirs since the second half of the 20th century. When water supply systems undergo change, it is necessary to develop new operating rules, which should consider climate, because the climate change is likely to further reduce inflows. In addition, water resource systems are increasingly intended to be operated to meet complex and multiple objectives representing social, economic, environmental and sustainability criteria. This is further complicated by conflicting preferences on these objectives from diverse stakeholders. This paper describes a methodology to develop optimum operating rules for complex multi-reservoir systems undergoing significant change, considering all of the above issues. The methodology is demonstrated using the Grampians water supply system in northwest Victoria, Australia. Initial work conducted on the project is also presented in this paper.Keywords: Climate change, Multi-objective planning, Pareto optimal; Stakeholder preference, Statistical downscaling, Water supply systems.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18961719 Particle Swarm Optimization Based Genetic Algorithm for Two-Stage Transportation Supply Chain
Authors: Siva Prasad Darla, C. D. Naiju, K. Annamalai, S. S. Rajiv Sushanth
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Supply chain consists of all stages involved, directly or indirectly, includes all functions involved in fulfilling a customer demand. In two stage transportation supply chain problem, transportation costs are of a significant proportion of final product costs. It is often crucial for successful decisions making approaches in two stage supply chain to explicit account for non-linear transportation costs. In this paper, deterministic demand and finite supply of products was considered. The optimized distribution level and the routing structure from the manufacturing plants to the distribution centres and to the end customers is determined using developed mathematical model and solved by proposed particle swarm optimization based genetic algorithm. Numerical analysis of the case study is carried out to validate the model.Keywords: Genetic Algorithm, Particle Swarm Optimization, Production, Remanufacturing
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18391718 Assessment of Health Risks to Ground Water Resources for the Emergency Supply of Population in Relation to the Content of Nitrates and Nitrites
Authors: Frantisek Bozek, Lenka Jesonkova, Jiri Dvorak, Milos Bozek, Eduard Bakos
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The contents of nitrates and nitrites were monitored in 15 ground water resources of a selected region earmarked for the emergency supply of population. The resources have been selected on the basis of previous assessment of natural conditions and the exploitation of territory in the infiltration area as well as the surroundings of water resources. The health risk analysis carried out in relation to nitrates and nitrites, which were found to be the most serious water contaminants, proved, that 14 resources met the health standards in relation to the assessed criterion and could be included in crisis plans. Water quality of ground resources may be assessed in the same way with regard to other contaminants.
Keywords: Drinking water, health risks, methemoglobinemia, nitrates, nitrites, water pollution.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20391717 Constrained Particle Swarm Optimization of Supply Chains
Authors: András Király, Tamás Varga, János Abonyi
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Since supply chains highly impact the financial performance of companies, it is important to optimize and analyze their Key Performance Indicators (KPI). The synergistic combination of Particle Swarm Optimization (PSO) and Monte Carlo simulation is applied to determine the optimal reorder point of warehouses in supply chains. The goal of the optimization is the minimization of the objective function calculated as the linear combination of holding and order costs. The required values of service levels of the warehouses represent non-linear constraints in the PSO. The results illustrate that the developed stochastic simulator and optimization tool is flexible enough to handle complex situations.Keywords: stochastic processes, empirical distributions, Monte Carlo simulation, PSO, supply chain management
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20741716 Attachment and Risk Taking: Are They Interrelated?
Authors: Ümit Morsünbül
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Attachment theory focuses on the bond that develops between child and caretaker and the consequences that this bond has on the childs future relationships. Adolescents attempt to define their identity by experiencing various risky behaviors. The first aim of the study was whether risk taking behavior differs according to attachment styles. The second was to examine risk taking behavior differences according to gender. The third aim of this study was to examine attachment X gender interaction effect for risk taking behavior. And final was to investigate attachment styles differences according to gender. Data were collected from 218 participants (114 female and 104 male) who are university students. The results of this study showed that attachment styles differentiated by risk taking behavior and males had higher risk taking score than females. It was also found out that there was significant attachment X gender interaction effect for risk taking behavior. And finally, the results showed that attachment styles differentiated according to gender.KeywordsAttachment style, risk taking
Keywords: Attachment style, risk taking
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3913