Search results for: Database business
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1736

Search results for: Database business

1646 Adoption of E-Business by Thai SMEs

Authors: Pisit Chanvarasuth

Abstract:

The use of e-business in small and medium-sized enterprises (SMEs) has been recently received an enormous attention in information systems research by both academic and practitioners. With the adoption of new and efficient technologies to enhance businesses, Thai SMEs should be able to compete worldwide. Unfortunately, most of the owners are not used to new technologies. It is clear that most Thai SMEs prefer to work manually rather than electronically. This paper aims to provide a fundamental conceptual framework for E-business adoption by Thai SMEs. Rooted in Knowledge transfer model, several factors are identified, which drive and enable e-business adoption. By overlooking the benefits associated with implementing new technologies, it is difficult for Thai SMEs to perform well enough to compete globally. The paper also helps Thai SMEs to understand factors related to E-business adoption.

Keywords: E-business, SME, Adoption, Knowledge Transfer, Thailand.

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1645 Wedding in Thailand: Traditional and Business

Authors: Kingkan Pongsiri

Abstract:

This study is purely qualitative. The objectives of this study can be identified as two main factors: traditionally explanation and economically studying. The study of weddings, both in traditional beauty and the aggressively strong competitive in the wedding business market has limited population of the study only Thailand internal wedding consumers. Focus group with the new marriage couple and in-depth interview with fully experiences wedding businessman were used. Traditionally, Thai weddings are very various; therefore, the recent patterns were briefly concluded to be processes of traditional Thai wedding will be revealed and explained then give more details in the formal procedures.  Economically, weddings business are related to many types of businesses from catering business, hospitality and tourism business, pre-wedding photography, and the complete full-serviced wedding organizer for examples. The situations, changes and obstacles of the wedding related business will be discussed.

Keywords: Thailand, Traditional Marriage, Wedding Business, Wedding Consuming Behavior.

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1644 Using Ontology Search in the Design of Class Diagram from Business Process Model

Authors: Wararat Rungworawut, Twittie Senivongse

Abstract:

Business process model describes process flow of a business and can be seen as the requirement for developing a software application. This paper discusses a BPM2CD guideline which complements the Model Driven Architecture concept by suggesting how to create a platform-independent software model in the form of a UML class diagram from a business process model. An important step is the identification of UML classes from the business process model. A technique for object-oriented analysis called domain analysis is borrowed and key concepts in the business process model will be discovered and proposed as candidate classes for the class diagram. The paper enhances this step by using ontology search to help identify important classes for the business domain. As ontology is a source of knowledge for a particular domain which itself can link to ontologies of related domains, the search can give a refined set of candidate classes for the resulting class diagram.

Keywords: Business Process Model, Model DrivenArchitecture, Ontology, UML Class Diagram.

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1643 Generic Multimedia Database Architecture

Authors: Mohib ur Rehman, Imran Ihsan, Mobin Uddin Ahmed, Nadeem Iftikhar, Muhammad Abdul Qadir

Abstract:

Multimedia, as it stands now is perhaps the most diverse and rich culture around the globe. One of the major needs of Multimedia is to have a single system that enables people to efficiently search through their multimedia catalogues. Many Domain Specific Systems and architectures have been proposed but up till now no generic and complete architecture is proposed. In this paper, we have suggested a generic architecture for Multimedia Database. The main strengths of our architecture besides being generic are Semantic Libraries to reduce semantic gap, levels of feature extraction for more specific and detailed feature extraction according to classes defined by prior level, and merging of two types of queries i.e. text and QBE (Query by Example) for more accurate yet detailed results.

Keywords: Multimedia Database Architecture, Semantics, Feature Extraction, Ontology.

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1642 AnQL: A Query Language for Annotation Documents

Authors: Neerja Bhatnagar, Ben A. Juliano, Renee S. Renner

Abstract:

This paper presents data annotation models at five levels of granularity (database, relation, column, tuple, and cell) of relational data to address the problem of unsuitability of most relational databases to express annotations. These models do not require any structural and schematic changes to the underlying database. These models are also flexible, extensible, customizable, database-neutral, and platform-independent. This paper also presents an SQL-like query language, named Annotation Query Language (AnQL), to query annotation documents. AnQL is simple to understand and exploits the already-existent wide knowledge and skill set of SQL.

Keywords: Annotation query language, data annotations, data annotation models, semantic data annotations.

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1641 A Promising Approach to Supporting Knowledge-Intensive Business Processes: Business Case Management

Authors: Zeljko Panian

Abstract:

Through the course of this paper we define Business Case Management and its characteristics, and highlight its link to knowledge workers. Business Case Management combines knowledge and process effectively, supporting the ad hoc and unpredictable nature of cases, and coordinate a range of other technologies to appropriately support knowledge-intensive processes. We emphasize the growing importance of knowledge workers and the current poor support for knowledge work automation. We also discuss the challenges in supporting this kind of knowledge work and propose a novel approach to overcome these challenges.

Keywords: Knowledge management, knowledge workers, business process management, business case management, automation.

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1640 Free-Form Query for Cell Phones

Authors: R. Ahmad, S. Abdul-Kareem

Abstract:

It is a challenge to provide a wide range of queries to database query systems for small mobile devices, such as the PDAs and cell phones. Currently, due to the physical and resource limitations of these devices, most reported database querying systems developed for them are only offering a small set of pre-determined queries for users to possibly pose. The above can be resolved by allowing free-form queries to be entered on the devices. Hence, a query language that does not restrict the combination of query terms entered by users is proposed. This paper presents the free-form query language and the method used in translating free-form queries to their equivalent SQL statements.

Keywords: Cell phone, database query language, free-formqueries, unplanned queries.

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1639 Telehealth Ecosystem: Challenge and Opportunity

Authors: R. Poonsuph

Abstract:

Technological innovation plays a crucial role in virtual healthcare services. A growing number of telehealth platforms are concentrating on using digital tools to improve the quality and availability of care. As a result, telehealth represents an opportunity to redesign the way health services are delivered. The research objective is to discover a new business model for digital health services and related industries to participate with telehealth solutions. The business opportunity is valuable for healthcare investors as a startup company to further investigations or implement the telehealth platform. The paper presents a digital healthcare business model and business opportunities to related industries. These include digital healthcare services extending from a traditional business model and use cases of business opportunities to related industries. Although there are enormous business opportunities, telehealth is still challenging due to the patient adaption and digital transformation process within a healthcare organization.

Keywords: telehealth, Internet hospital, HealthTech, InsurTech

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1638 University of Jordan Case Tool (Uj-Case- Tool) for Database Reverse Engineering

Authors: Fawaz A. Masoud, Heba_tallah Khattab, Mahmoud Al-Karazoon

Abstract:

The database reverse engineering problems and solving processes are getting mature, even though, the academic community is facing the complex problem of knowledge transfer, both in university and industrial contexts. This paper presents a new CASE tool developed at the University of Jordan which addresses an efficient support of this transfer, namely UJ-CASE-TOOL. It is a small and self-contained application exhibiting representative problems and appropriate solutions that can be understood in a limited time. It presents an algorithm that describes the developed academic CASE tool which has been used for several years both as an illustration of the principles of database reverse engineering and as an exercise aimed at academic and industrial students.

Keywords: Reverse engineering, ERD, DBRE, case tools.

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1637 Building a Service-Centric Business Model in SMEs in the Business-to-Business Context

Authors: Päivi J. Tossavainen , Leena Alakoski, Katri Ojasalo

Abstract:

Building a service-centric business model requires new knowledge and capabilities in companies. This paper enlightens the challenges small and medium sized firms (SMEs) face when developing their service-centric business models. This paper examines the premise for knowledge transfer and capability development required. The objective of this paper is to increase knowledge about SME-s transformation to service-centric business models.This paper reports an action research based case study. The paper provides empirical evidence from three case companies. The empirical data was collected through multiple methods. The findings of the paper are: First, the developed model to analyze the current state in companies. Second, the process of building the service – centric business models. Third, the selection of suitable service development methods. The lack of a holistic understanding on service logic suggests that SMEs need practical and easy to use methods to improve their business

Keywords: service-centric business model, service development, action research, case study

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1636 An Example of Open Robot Controller Architecture - For Power Distribution Line Maintenance Robot System -

Authors: Yingxin He, Kyouichi Tatsuno

Abstract:

In this paper, we propose an architecture for easily constructing a robot controller. The architecture is a multi-agent system which has eight agents: the Man-machine interface, Task planner, Task teaching editor, Motion planner, Arm controller, Vehicle controller, Vision system and CG display. The controller has three databases: the Task knowledge database, the Robot database and the Environment database. Based on this controller architecture, we are constructing an experimental power distribution line maintenance robot system and are doing the experiment for the maintenance tasks, for example, “Bolt insertion task".

Keywords: Robot controller, Software library, Maintenance robot, Robot language, Agent system.

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1635 Analyzing Behaviour of the Utilization of the Online News Clipping Database: Experience in Suan Sunandha Rajabhat University

Authors: Siriporn Poolsuwan, Kanyarat Bussaban

Abstract:

This research aims to investigate and analyze user’s behaviour towards the utilization of the online news clipping database at Suan Sunandha Rajabhat University, Thailand. Data is gathered from 214 lecturers and 380 undergraduate students by using questionnaires. Findings show that most users knew the online news clipping service from their friends, library’s website and their teachers. The users learned how to use it by themselves and others learned by training of SSRU library. Most users used the online news clipping database one time per month at home and always used the service for general knowledge, up-to-date academic knowledge and assignment reference. Moreover, the results of using the online news clipping service problems include the users themselves, service management, service device- computer and tools – and the network, service provider, and publicity. This research would be benefit for librarians and teachers for planning and designing library services in their works and organization

Keywords: Online Database, User Behaviour.

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1634 Knowledge Continuity as a Part of Business Continuity Management

Authors: H. Urbancova, J. Urbanec

Abstract:

Today the intangible assets are the capital of knowledge and are the most important and the most valuable resource for organizations. All employees have knowledge independently of the kind of jobs they do. Knowledge is thus an asset, which influences business operations. The objective of this article is to identify knowledge continuity as an objective of business continuity management. The article has been prepared based on the analysis of secondary sources and the evaluation of primary sources of data by means of a quantitative survey conducted in the Czech Republic. The conclusion of the article is that organizations that apply business continuity management do not focus on the preservation of the knowledge of key employees. Organizations ensure knowledge continuity only intuitively, on a random basis, non-systematically and discontinuously. The non-ensuring of knowledge continuity represents a threat of loss of key knowledge for organizations and can also negatively affect business continuity.

Keywords: Business continuity, knowledge, organizations, survey.

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1633 What Creative Industries Have to Offer to Business? Creative Partnerships and Mutual Benefits

Authors: A. Smagina, A. Lindemanis

Abstract:

In the time of globalisation, growing uncertainty, ambiguity and change, traditional way of doing business are no longer sufficient and it is important to consider non-conventional methods and approaches to release creativity and facilitate innovation and growth. Thus, creative industries, as a natural source of creativity and innovation, draw particular attention. This paper explores feasibility of building creative partnerships between creative industries and business and brings attention to mutual benefits derived from such partnerships. Design/approach - This paper is a theoretical exploration of projects, practices and research findings addressing collaboration between creative industries and business. Thus, it concerns creative industries, arts, business and its representatives in order to define requirements for creative partnerships to work and succeed. Findings – Current practices in engaging into arts-business partnerships are still very few, although most of creative partnerships proved to be highly valuable and mutually beneficial. Certain conditions shall be provided in order to benefit from arts-business creative synergy. Originality/value- By integrating different sources of literature, this article provides a base for conducting empirical research in several dimensions within arts-business partnerships.

Keywords: Arts, artists, business, creative industries, partnership

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1632 Analysis and Design Business Directory for Micro, Small and Medium Enterprises using Google Maps API and Multimedia

Authors: Suselo Thomas, Suyoto, Dwiandiyanta B. Yudi

Abstract:

This paper explain about analysis and design a business directory for micro-scale businesses, small and medium enterprises (SMEs). Business Directory, if implemented will facilitate and optimize the access of SMEs to ease suppliers access to marketing. Business Directory will be equipped with the power of geocoding, so each location can be easily viewed SMEs on the map. The map will be constructed by using the functionality of a webbased Google Maps API. The information presented in the form of multimedia that can be more interesting and interactive. The method used to achieve the goal are: observation; interviews; modeling and classifying business directory for SMEs.

Keywords: Business directories, SMEs, Google maps API, multimedia, geocoding ommas.

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1631 Social Business Models: When Profits and Impacts Are Not at Odds

Authors: Elisa Pautasso, Matteo Castagno, Michele Osella

Abstract:

In the last decade the emergence of new social needs as an effect of the economic crisis has stimulated the flourishing of business endeavours characterised by explicit social goals. Social start-ups, social enterprises or Corporate Social Responsibility operations carried out by traditional companies are quintessential examples in this regard. This paper analyses these kinds of initiatives in order to discover the main characteristics of social business models and to provide insights to social entrepreneurs for developing or improving their strategies. The research is conducted through the integration of literature review and case study analysis and, thanks to the recognition of the importance of both profits and social impacts as the key success factors for a social business model, proposes a framework for identifying indicators suitable for measuring the social impacts generated.

Keywords: Business model, case study, impacts, social business.

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1630 A Norm-based Approach for Profiling Business Knowledge

Authors: Nazmona Mat Ali, Kecheng Liu

Abstract:

Knowledge is a key asset for any organisation to sustain competitive advantages, but it is difficult to identify and represent knowledge which is needed to perform activities in business processes. The effective knowledge management and support for relevant business activities definitely gives a huge impact to the performance of the organisation as a whole. This is because that knowledge have the functions of directing, coordinating and controlling actions within business processes. The study has introduced organisational morphology, a norm-based approach by applying semiotic theories which emphasise on the representation of knowledge in norms. This approach is concerned with the identification of activities into three categories: substantive, communication and control activities. All activities are directed by norms; hence three types of norms exist; each is associated to a category of activities. The paper describes the approach briefly and illustrates the application of this approach through a case study of academic activities in higher education institutions. The result of the study shows that the approach provides an effective way to profile business knowledge and the profile enables the understanding and specification of business requirements of an organisation.

Keywords: Business knowledge, Business process, Norms, Semiotics, Organisational morphology

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1629 Integration of Image and Patient Data, Software and International Coding Systems for Use in a Mammography Research Project

Authors: V. Balanica, W. I. D. Rae, M. Caramihai, S. Acho, C. P. Herbst

Abstract:

Mammographic images and data analysis to facilitate modelling or computer aided diagnostic (CAD) software development should best be done using a common database that can handle various mammographic image file formats and relate these to other patient information. This would optimize the use of the data as both primary reporting and enhanced information extraction of research data could be performed from the single dataset. One desired improvement is the integration of DICOM file header information into the database, as an efficient and reliable source of supplementary patient information intrinsically available in the images. The purpose of this paper was to design a suitable database to link and integrate different types of image files and gather common information that can be further used for research purposes. An interface was developed for accessing, adding, updating, modifying and extracting data from the common database, enhancing the future possible application of the data in CAD processing. Technically, future developments envisaged include the creation of an advanced search function to selects image files based on descriptor combinations. Results can be further used for specific CAD processing and other research. Design of a user friendly configuration utility for importing of the required fields from the DICOM files must be done.

Keywords: Database Integration, Mammogram Classification, Tumour Classification, Computer Aided Diagnosis.

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1628 Business Skills Laboratory in Action: Combining a Practice Enterprise Model and an ERP-Simulation to a Comprehensive Business Learning Environment

Authors: Karoliina Nisula, Samuli Pekkola

Abstract:

Business education has been criticized for being too theoretical and distant from business life. Different types of experiential learning environments ranging from manual role-play to computer simulations and enterprise resource planning (ERP) systems have been used to introduce the realistic and practical experience into business learning. Each of these learning environments approaches business learning from a different perspective. The implementations tend to be individual exercises supplementing the traditional courses. We suggest combining them into a business skills laboratory resembling an actual workplace. In this paper, we present a concrete implementation of an ERP-supported business learning environment that is used throughout the first year undergraduate business curriculum. We validate the implementation by evaluating the learning outcomes through the different domains of Bloom’s taxonomy. We use the role-play oriented practice enterprise model as a comparison group. Our findings indicate that using the ERP simulation improves the poor and average students’ lower-level cognitive learning. On the affective domain, the ERP-simulation appears to enhance motivation to learn as well as perceived acquisition of practical hands-on skills.

Keywords: Business simulations, experiential learning, ERP systems, learning environments.

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1627 A Model for Business Network Governance: Case Study in the Pharmaceutical Industry

Authors: Emil Crişan, Matthias Klumpp

Abstract:

This paper discusses the theory behind the existence of an idealistic model for business network governance and uses a clarifying case-study, containing governance structures and processes within a business network framework. The case study from a German pharmaceutical industry company complements existing literature by providing a comprehensive explanation of the relations between supply chains and business networks, and also between supply chain management and business network governance. Supply chains and supply chain management are only one side of the interorganizational relationships and ensure short-term performance, while real-world governance structures are needed for ensuring the long-term existence of a supply chain. Within this context, a comprehensive model for business governance is presented. An interesting finding from the case study is that multiple business network governance systems co-exist within the evaluated supply chain.

Keywords: Business network, pharmaceutical industry, supply chain governance, supply chain management.

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1626 Materialized View Effect on Query Performance

Authors: Yusuf Ziya Ayık, Ferhat Kahveci

Abstract:

Currently, database management systems have various tools such as backup and maintenance, and also provide statistical information such as resource usage and security. In terms of query performance, this paper covers query optimization, views, indexed tables, pre-computation materialized view, query performance analysis in which query plan alternatives can be created and the least costly one selected to optimize a query. Indexes and views can be created for related table columns. The literature review of this study showed that, in the course of time, despite the growing capabilities of the database management system, only database administrators are aware of the need for dealing with archival and transactional data types differently. These data may be constantly changing data used in everyday life, and also may be from the completed questionnaire whose data input was completed. For both types of data, the database uses its capabilities; but as shown in the findings section, instead of repeating similar heavy calculations which are carrying out same results with the same query over a survey results, using materialized view results can be in a more simple way. In this study, this performance difference was observed quantitatively considering the cost of the query.

Keywords: Materialized view, pre-computation, query cost, query performance.

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1625 Collaborative Business Strategy of PTT Energy Trading Co. Ltd. for LNG form of Coal Bed Methane in B2B Transaction to Japanese Shareholder, Especially to Electricity and Power Supply Companies

Authors: Shabrina Pritta Radyanti, Harimukti Wandebori

Abstract:

A research study was conducted with an objective to propose a collaborative business strategy of a oil and gas trading company, representing PPT Energy Trading Co., Ltd., with its shareholder, especially electricity and power supply companies for LNG Form of Coal Bed Methane in B2B Transaction. Collaborative business strategy is a strategy to collaborate with other organizations due to have future benefits in both parties, or achieve the business objective through the collaboration of business, its strategy and partners. A structured interview was established to collect the required primary data from the company. Not only interview, but also company’s business plan and annual report were collected and analyzed for the company’s current condition. As the result, this research shows a recommendation to propose a new collaborative strategy with limiting its target market, diversifying product, conducting new business model, and considering other stakeholders.

Keywords: collaborative business strategy, trading company, LNG, coal bed methane

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1624 Similar Cultural Factors Compensate for Communication Problems in Japan's Software Globalization Business

Authors: Phong Tran

Abstract:

A research effort to find the reality of the business of Japan-s software globalization of enterprise-level business software systems has found that while the number of Japan-made enterpriselevel software systems is comparable with those of the other G7 countries, the business is limited to the East and Southeast Asian markets. This indicates that this business has a problem in the European and USA markets. Based on the knowledge that the research has established, the research concludes that the communication problems arise from the lack of individualists' communication styles and foreign language skills in Japan's software globalization is compensated by similarities in certain Japanese cultural factors and Japan's cultural power in the East and Southeast Asian markets and that this business does not have this compensation factor in the European and American markets due to dissimilarities and no cultural power.

Keywords: Cultural factors, global business, Japan, software globalization.

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1623 Human Resources and Business Result: An Empirical Approach Based On RBV Theory

Authors: XhevrieMamaqi

Abstract:

Organization capacity learning is a process referring to the sum total of individual and collective learning through training programs, experience and experimentation, among others. Today, in-business ongoing training is one of the most important strategies for human capital development and it is crucial to sustain and improve workers’ knowledge and skills. Many organizations, firms and business are adopting a strategy of continuous learning, encouraging employees to learn new skills continually to be innovative and to try new processes and work in order to achieve a competitive advantage and superior business results. This paper uses the Resource Based View and Capacities (RBV) approach to construct a hypothetical relationships model between training and business results. The test of the model is applied on transversal data. A sample of 266 business of Spanish sector service has been selected. A Structural Equation Model (SEM) is used to estimate the relationship between ongoing training, represented by two latent dimension denominated Human and Social Capital resources and economic business results. The coefficients estimated have shown the efficient of some training aspectsexplaining the variation in business results.

Keywords: Business results, Human and Social Capital resources, training, RBV Theory, SEM.

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1622 A Two-Stage Adaptation towards Automatic Speech Recognition System for Malay-Speaking Children

Authors: Mumtaz Begum Mustafa, Siti Salwah Salim, Feizal Dani Rahman

Abstract:

Recently, Automatic Speech Recognition (ASR) systems were used to assist children in language acquisition as it has the ability to detect human speech signal. Despite the benefits offered by the ASR system, there is a lack of ASR systems for Malay-speaking children. One of the contributing factors for this is the lack of continuous speech database for the target users. Though cross-lingual adaptation is a common solution for developing ASR systems for under-resourced language, it is not viable for children as there are very limited speech databases as a source model. In this research, we propose a two-stage adaptation for the development of ASR system for Malay-speaking children using a very limited database. The two stage adaptation comprises the cross-lingual adaptation (first stage) and cross-age adaptation. For the first stage, a well-known speech database that is phonetically rich and balanced, is adapted to the medium-sized Malay adults using supervised MLLR. The second stage adaptation uses the speech acoustic model generated from the first adaptation, and the target database is a small-sized database of the target users. We have measured the performance of the proposed technique using word error rate, and then compare them with the conventional benchmark adaptation. The two stage adaptation proposed in this research has better recognition accuracy as compared to the benchmark adaptation in recognizing children’s speech.

Keywords: Automatic speech recognition system, children speech, adaptation, Malay.

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1621 Towards Development of Solution for Business Process-Oriented Data Analysis

Authors: M. Klimavicius

Abstract:

This paper proposes a modeling methodology for the development of data analysis solution. The Author introduce the approach to address data warehousing issues at the at enterprise level. The methodology covers the process of the requirements eliciting and analysis stage as well as initial design of data warehouse. The paper reviews extended business process model, which satisfy the needs of data warehouse development. The Author considers that the use of business process models is necessary, as it reflects both enterprise information systems and business functions, which are important for data analysis. The Described approach divides development into three steps with different detailed elaboration of models. The Described approach gives possibility to gather requirements and display them to business users in easy manner.

Keywords: Data warehouse, data analysis, business processmanagement.

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1620 Using Agility in Building Business Process Management Solutions

Authors: Krešimir Fertalj, Mladen Matejaš

Abstract:

In turbulent modern economy, the companies need to properly manage their business processes. Well-defined and stable business processes ensure security of crucial data and applications, and provide a quality product or service to the end customer. On the other side, constant changes on the market, new regulatory provisions, and emerging new technologies require the need of issuing prompt and effective changes of business process. In this article, we explore the use of agile principles in working with business process management (BPM) solutions. We deal with difficulties in BPM development cycle, review the benefits of using agility, and choose the basic agile principles that ensure the success of a BPM project.

Keywords: Agile development, BPM environment, Kanban, SCRUM, XP.

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1619 Specialized Web Robot for Objectionable Web Content Classification

Authors: SuGil Choi, SeungWan Han, Chi-Yoon Jeong, TaekYong Nam

Abstract:

This paper proposes a specialized Web robot to automatically collect objectionable Web contents for use in an objectionable Web content classification system, which creates the URL database of objectionable Web contents. It aims at shortening the update period of the DB, increasing the number of URLs in the DB, and enhancing the accuracy of the information in the DB.

Keywords: Web robot, objectionable Web content classification, URL database, URL rating

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1618 Accessible Business Process Modelling

Authors: D. D. Vaziri, D. DeOliveira

Abstract:

This article concerns with the accessibility of Business process modelling tools (BPMo tools) and business process modelling languages (BPMo languages). Therefore the reader will be introduced to business process management and the authors' motivation behind this inquiry. Afterwards, the paper will reflect problems when applying inaccessible BPMo tools. To illustrate these problems the authors distinguish between two different categories of issues and provide practical examples. Finally the article will present three approaches to improve the accessibility of BPMo tools and BPMo languages.

Keywords: Accessibility, Business Process Management, BPM, Event Process Chains, Modelling Languages

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1617 Investment Prediction Using Simulation

Authors: Hussam Al-Shorman, Yosef Hasan Jbara

Abstract:

A business case is a proposal for an investment initiative to satisfy business and functional requirements. The business case provides the foundation for tactical decision making and technology risk management. It helps to clarify how the organization will use its resources in the best way by providing justification for investment of resources. This paper describes how simulation was used for business case benefits and return on investment for the procurement of 8 production machines. With investment costs of about 4.7 million dollars and annual operating costs of about 1.3 million, we needed to determine if the machines would provide enough cost savings and cost avoidance. We constructed a model of the existing factory environment consisting of 8 machines and subsequently, we conducted average day simulations with light and heavy volumes to facilitate planning decisions required to be documented and substantiated in the business case.

Keywords: Investment cost, business case, return on investment, simulation.

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