Search results for: product costs
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1803

Search results for: product costs

543 Sustainable Solutions for Municipal Solid Waste Management in Thailand

Authors: Thaniya Kaosol

Abstract:

General as well as the MSW management in Thailand is reviewed in this paper. Topics include the MSW generation, sources, composition, and trends. The review, then, moves to sustainable solutions for MSW management, sustainable alternative approaches with an emphasis on an integrated MSW management. Information of waste in Thailand is also given at the beginning of this paper for better understanding of later contents. It is clear that no one single method of MSW disposal can deal with all materials in an environmentally sustainable way. As such, a suitable approach in MSW management should be an integrated approach that could deliver both environmental and economic sustainability. With increasing environmental concerns, the integrated MSW management system has a potential to maximize the useable waste materials as well as produce energy as a by-product. In Thailand, the compositions of waste (86%) are mainly organic waste, paper, plastic, glass, and metal. As a result, the waste in Thailand is suitable for an integrated MSW management. Currently, the Thai national waste management policy starts to encourage the local administrations to gather into clusters to establish central MSW disposal facilities with suitable technologies and reducing the disposal cost based on the amount of MSW generated.

Keywords: MSW, management, sustainable, Thailand

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 5784
542 Synthesis of Aragonite Superstructure from Steelmaking Slag via Indirect CO2 Mineral Sequestration

Authors: Weijun Bao, Huiquan Li

Abstract:

Using steelmaking slag as a raw material, aragonite superstructure product had been synthesized via an indirect CO2 mineral sequestration rout. It mainly involved two separate steps, in which the element of calcium is first selectively leached from steelmaking slag by a novel leaching media consisting of organic solvent Tributyl phosphate (TBP), acetic acid, and ultra-purity water, followed by enhanced carbonation in a separate step for aragonite superstructure production as well as efficiency recovery of leaching media. Based on the different leaching medium employed in the steelmaking slag leaching process, two typical products were collected from the enhanced carbonation step. The products were characterized by X-ray powder diffraction (XRD) and scanning electron microscopy (SEM), respectively. It reveals that the needle-like aragonite crystals self-organized into aragonite superstructure particles including aragonite microspheres as well as dumbbell-like spherical particles, can be obtained from the steelmaking slag with the purity over 99%.

Keywords: Aragonite superstructure, Steelmaking slag, Indirect CO2 mineral sequestration, Selective leaching, Enhanced carbonation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2049
541 Factor Resistance Comparison of a Long Shaft in 955 and 1055 John Deere Grain Combine

Authors: M. Azadbakht, M. E. Shayan, H. Jafari, E. Ghajarjazi, A. Kiapei

Abstract:

Transmission shafts are affected by various forces, for example, during acceleration or sudden breaks, bending during transportation, vertical forces that lead to cuts. One of the main failures in combines is breaking shaft which repairmen refer it. Structural resistance of canal against torque is very important in the beginning of the movement. For analyzing stress, a typical sample from a type of combine was selected, called JD955 combine. Long shaft in this combine was analyzed with finite element method by Ansys13 generic package under static load. Conducted analysis showed that there is a maximum stress in contact surfaces of indentations and also in place of changing diameter. Safety factor value is low in parts of the shaft and this increases the probability of failure at these points. To improve the conditions with the least cost and an approach of product improvement, using alternative alloy is important.

Keywords: John Deere, Ansys, Shaft, Stress, Grain Combine harvester, Finite element, Failure.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1614
540 Influence of Power Flow Controller on Energy Transaction Charges in Restructured Power System

Authors: Manisha Dubey, Gaurav Gupta, Anoop Arya

Abstract:

The demand for power supply increases day by day in developing countries like India henceforth demand of reactive power support in the form of ancillary services provider also has been increased. The multi-line and multi-type Flexible alternating current transmission system (FACTS) controllers are playing a vital role to regulate power flow through the transmission line. Unified power flow controller and interline power flow controller can be utilized to control reactive power flow through the transmission line. In a restructured power system, the demand of such controller is being popular due to their inherent capability. The transmission pricing by using reactive power cost allocation through modified matrix methodology has been proposed. The FACTS technologies have quite costly assembly, so it is very useful to apportion the expenses throughout the restructured electricity industry. Therefore, in this work, after embedding the FACTS devices into load flow, the impact on the costs allocated to users in fraction to the transmission framework utilization has been analyzed. From the obtained results, it is clear that the total cost recovery is enhanced towards the Reactive Power flow through the different transmission line for 5 bus test system. The fair pricing policy towards reactive power can be achieved by the proposed method incorporating FACTS controller towards cost recovery of the transmission network.

Keywords: Inter line power flow controller, Transmission Pricing, Unified power flow controller, cost allocation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 650
539 Applying 5S Lean Technology: An Infrastructure for Continuous Process Improvement

Authors: Raid A. Al-Aomar

Abstract:

This paper presents an application of 5S lean technology to a production facility. Due to increased demand, high product variety, and a push production system, the plant has suffered from excessive wastes, unorganized workstations, and unhealthy work environment. This has translated into increased production cost, frequent delays, and low workers morale. Under such conditions, it has become difficult, if not impossible, to implement effective continuous improvement studies. Hence, the lean project is aimed at diagnosing the production process, streamlining the workflow, removing/reducing process waste, cleaning the production environment, improving plant layout, and organizing workstations. 5S lean technology is utilized for achieving project objectives. The work was a combination of both culture changes and tangible/physical changes on the shop floor. The project has drastically changed the plant and developed the infrastructure for a successful implementation of continuous improvement as well as other best practices and quality initiatives.

Keywords: 5S Technique, Continuous Improvement, Kaizen, Lean Technology, Work Methods, Work Standards

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4873
538 Data Quality Enhancement with String Length Distribution

Authors: Qi Xiu, Hiromu Hota, Yohsuke Ishii, Takuya Oda

Abstract:

Recently, collectable manufacturing data are rapidly increasing. On the other hand, mega recall is getting serious as a social problem. Under such circumstances, there are increasing needs for preventing mega recalls by defect analysis such as root cause analysis and abnormal detection utilizing manufacturing data. However, the time to classify strings in manufacturing data by traditional method is too long to meet requirement of quick defect analysis. Therefore, we present String Length Distribution Classification method (SLDC) to correctly classify strings in a short time. This method learns character features, especially string length distribution from Product ID, Machine ID in BOM and asset list. By applying the proposal to strings in actual manufacturing data, we verified that the classification time of strings can be reduced by 80%. As a result, it can be estimated that the requirement of quick defect analysis can be fulfilled.

Keywords: Data quality, feature selection, probability distribution, string classification, string length.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1304
537 A Formal Suite of Object Relational Database Metrics

Authors: Justus S, K Iyakutti

Abstract:

Object Relational Databases (ORDB) are complex in nature than traditional relational databases because they combine the characteristics of both object oriented concepts and relational features of conventional databases. Design of an ORDB demands efficient and quality schema considering the structural, functional and componential traits. This internal quality of the schema is assured by metrics that measure the relevant attributes. This is extended to substantiate the understandability, usability and reliability of the schema, thus assuring external quality of the schema. This work institutes a formalization of ORDB metrics; metric definition, evaluation methodology and the calibration of the metric. Three ORDB schemas were used to conduct the evaluation and the formalization of the metrics. The metrics are calibrated using content and criteria related validity based on the measurability, consistency and reliability of the metrics. Nominal and summative scales are derived based on the evaluated metric values and are standardized. Future works pertaining to ORDB metrics forms the concluding note.

Keywords: Measurements, Product metrics, Metrics calibration, Object-relational database.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1640
536 Simulation of Acoustic Properties of Borate and Tellurite Glasses

Authors: M. S. Gaafar, S. Y. Marzouk, I. S. Mahmoud, S. Al-Zobaidi

Abstract:

Makishima and Mackenzie model was used to simulation of acoustic properties (longitudinal and shear ultrasonic wave velocities, elastic moduli theoretically for many tellurite and borate glasses. The model was proposed mainly depending on the values of the experimentally measured density, which are obtained before. In this search work, we are trying to obtain the values of densities of amorphous glasses (as the density depends on the geometry of the network structure of these glasses). In addition, the problem of simulating the slope of linear regression between the experimentally determined bulk modulus and the product of packing density and experimental Young's modulus, were solved in this search work. The results showed good agreement between the experimentally measured values of densities and both ultrasonic wave velocities, and those theoretically determined.

Keywords: Glasses, ultrasonic wave velocities, elastic moduli, Makishima and Mackenzie model.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1503
535 Operational Software Maturity: An Aerospace Industry Analysis

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

Abstract:

Software applications have become crucial to the aerospace industry, providing a wide range of functionalities and capabilities used during the design, manufacturing and support of aircraft. However, as this criticality increases, so too does the risk for business operations when facing a software failure. Hence, there is a need for new methodologies to be developed to support aerospace companies in effectively managing their software portfolios, avoiding the hazards of business disruption and additional costs. This paper aims to provide a definition of operational software maturity, and how this can be used to assess software operational behaviour, as well as a view on the different aspects that drive software maturity within the aerospace industry. The key research question addressed is, how can operational software maturity monitoring assist the aerospace industry in effectively managing large software portfolios? This question has been addressed by conducting an in depth review of current literature, by working closely with aerospace professionals and by running an industry case study within a major aircraft manufacturer. The results are a software maturity model composed of a set of drivers and a prototype tool used for the testing and validation of the research findings. By utilising these methodologies to assess the operational maturity of software applications in aerospace, benefits in maintenance activities and operations disruption avoidance have been observed, supporting business cases for system improvement.

Keywords: Aerospace, capability maturity model, software maturity, software lifecycle.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 888
534 Embodiment Design of an Azimuth-Altitude Solar Tracker

Authors: M. Culman, O. Lengerke

Abstract:

To provide an efficient solar generation system, the embodiment design of a two axis solar tracker for an array of photovoltaic (PV) panels destiny to supply the power demand on off-the-grid areas was developed. Photovoltaic cells have high costs in relation to t low efficiency; and while a lot of research and investment has been made to increases its efficiency a few points, there is a profitable solution that increases by 30-40% the annual power production: two axis solar trackers. A solar tracker is a device that supports a load in a perpendicular position toward the sun during daylight. Mounted on solar trackers, the solar panels remain perpendicular to the incoming sunlight at day and seasons so the maximum amount of energy is outputted. Through a preview research done it was justified why the generation of solar energy through photovoltaic panels mounted on dual axis structures is an attractive solution to bring electricity to remote off-the-grid areas. The work results are the embodiment design of an azimuth-altitude solar tracker to guide an array of photovoltaic panels based on a specific design methodology. The designed solar tracker is mounted on a pedestal that uses two slewing drives‚ with a nominal torque of 1950 Nm‚ to move a solar array that provides 3720 W from 12 PV panels.

Keywords: Azimuth-altitude sun tracker, dual-axis solar tracker, photovoltaic system, solar energy, stand-alone power system.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1763
533 Effect of Moisture Content Compaction in the Geometry Definition of Earth Dams

Authors: Julian B. García, Virginie Q. R. Pinto, André P. Assis

Abstract:

This paper presents numerical flow and slope stability simulations in three typical sections of earth dams built in tropical regions, two homogeneous with different slope inclinations, and the other one heterogeneous with impermeable core. The geotechnical material parameters used in this work were obtained from a lab testing of physical characterization, compaction, consolidation, variable load permeability and saturated triaxial type CD for compacted soil samples with standard proctor energy at optimum moisture content (23%), optimum moisture content + 2% and optimum moisture content +5%. The objective is to analyze the general behavior of earth dams built in rainy regions where optimum moisture is exceeded. The factor of safety is satisfactory for the three sections compacted in all moisture content during the stages of operation and end of construction. On The other hand, the rapid drawdown condition is the critical phase for homogeneus dams configuration, the factor of safety obtained were unsatisfactory. In general, the heterogeneous dam behavior is more efficient due to the fact that the slopes are made up of gravel, which favors the dissipation of pore pressures during the rapid drawdown. For the critical phase, the slopes should have lower inclinations of the upstream and downstream slopes to guarantee stability, although it increases the costs.

Keywords: Earth dams, flow, moisture content, slope stability.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 889
532 Cloning of a β-Glucosidase Gene (BGL1) from Traditional Starter Yeast Saccharomycopsis fibuligera BMQ 908 and Expression in Pichia pastoris

Authors: Le Thuy Mai, Vu Nguyen Thanh

Abstract:

β-Glucosidase is an important enzyme for production of ethanol from lignocellulose. With hydrolytic activity on cellooligosaccharides, especially cellobiose, β-glucosidase removes product inhibitory effect on cellulases and forms fermentable sugars. In this study, β-glucosidase encoding gene (BGL1) from traditional starter yeast Saccharomycosis fibuligera BMQ908 was cloned and expressed in Pichia pastoris. BGL1 of S. fibuligera BMQ 908 shared 98% nucleotide homology with the closest GenBank sequence (M22475) but identity in amino-acid sequences of catalytic domains. Recombinant plasmid pPICZαA/BGL1 containing the sequence encoding BGL1 mature protein and α-factor secretion signal was constructed and transformed into methylotrophic yeast P. pastoris by electroporation. The recombinant strain produced single extracellular protein with molecular weight of 120 kDa and cellobiase activity of 60 IU/ml. The optimum pH of the recombinant β-glucosidase was 5.0 and the optimum temperature was 50°C.

Keywords: β-Glucosidase, Pichia pastoris, Saccharomycopsisfibuligera, recombinant enzyme.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4951
531 Comparative Economic Analysis of Floating Photovoltaic Systems Using a Synthesis Approach

Authors: Ching-Feng Chen, Shih-Kai Chen

Abstract:

The Floating Photovoltaic (FPV) system highlights economic benefits and energy performance to carbon dioxide (CO2) discharges. Due to land resource scarcity and many negligent water territories, such as reservoirs, dams, and lakes in Japan and Taiwan, both countries are actively developing FPV and responding to the pricing of the emissions trading systems (ETS). This paper performs a case study through a synthesis approach to compare the economic indicators between the FPVs of Taiwan’s Agongdian Reservoir and Japan’s Yamakura Dam. The research results show that the metrics of the system capacity, installation costs, bank interest rates, and ETS and Electricity Bills affect FPV operating gains. In the post-Feed-In-Tariff (FIT) phase, investing in FPV in Japan is more profitable than in Taiwan. The former’s positive net present value (NPV), eminent internal rate of return (IRR) (11.6%), and benefit-cost ratio (BCR) above 1 (2.0) at the discount rate of 10% indicate that investing the FPV in Japan is more favorable than in Taiwan. In addition, the breakeven point is modest (about 61.3%). The presented methodology in the study helps investors evaluate schemes’ pros and cons and determine whether a decision is beneficial while funding PV or FPV projects.

Keywords: Carbon Border Adjustment Mechanism, Floating Photovoltaic, Emissions Trading Systems, Net Present Value, NPV, Internal Rate of Return, IRR, Benefit-Cost Ratio.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 107
530 Simulation of Agri-Food Supply Chains

Authors: Sherine Beshara, Khaled S. El-Kilany, Noha M. Galal

Abstract:

Supply chain management has become more challenging with the emerging trend of globalization and sustainability. Lately, research related to perishable products supply chains, in particular agricultural food products, has emerged. This is attributed to the additional complexity of managing this type of supply chains with the recently increased concern of public health, food quality, food safety, demand and price variability, and the limited lifetime of these products. Inventory management for agrifood supply chains is of vital importance due to the product perishability and customers- strive for quality. This paper concentrates on developing a simulation model of a real life case study of a two echelon production-distribution system for agri-food products. The objective is to improve a set of performance measures by developing a simulation model that helps in evaluating and analysing the performance of these supply chains. Simulation results showed that it can help in improving overall system performance.

Keywords: Agri-food supply chains, inventory model, modelling and Simulation, supply chain.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3335
529 Design Based Performance Prediction of Component Based Software Products

Authors: K. S. Jasmine, R. Vasantha

Abstract:

Component-Based software engineering provides an opportunity for better quality and increased productivity in software development by using reusable software components [10]. One of the most critical aspects of the quality of a software system is its performance. The systematic application of software performance engineering techniques throughout the development process can help to identify design alternatives that preserve desirable qualities such as extensibility and reusability while meeting performance objectives [1]. In the present scenario, software engineering methodologies strongly focus on the functionality of the system, while applying a “fix- it-later" approach to software performance aspects [3]. As a result, lengthy fine-tunings, expensive extra hard ware, or even redesigns are necessary for the system to meet the performance requirements. In this paper, we propose design based, implementation independent, performance prediction approach to reduce the overhead associated in the later phases while developing a performance guaranteed software product with the help of Unified Modeling Language (UML).

Keywords: Software Reuse, Component-based development, Unified Modeling Language, Software performance, Software components, Performance engineering, Software engineering.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1842
528 Optimization of Material Removal Rate in Electrical Discharge Machining Using Fuzzy Logic

Authors: Amit Kohli, Aashim Wadhwa, Tapan Virmani, Ujjwal Jain

Abstract:

The objective of present work is to stimulate the machining of material by electrical discharge machining (EDM) to give effect of input parameters like discharge current (Ip), pulse on time (Ton), pulse off time (Toff) which can bring about changes in the output parameter, i.e. material removal rate. Experimental data was gathered from die sinking EDM process using copper electrode and Medium Carbon Steel (AISI 1040) as work-piece. The rules of membership function (MF) and the degree of closeness to the optimum value of the MMR are within the upper and lower range of the process parameters. It was found that proposed fuzzy model is in close agreement with the experimental results. By Intelligent, model based design and control of EDM process parameters in this study will help to enable dramatically decreased product and process development cycle times.

Keywords: Electrical discharge Machining (EDM), Fuzzy Logic, Material removal rate (MRR), Membership functions (MF).

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2724
527 Evaluation of the Microbiological, Chemical and Sensory Quality of Carp Processed by the Sous Vide Method

Authors: Özlem Pelin Can

Abstract:

This study evaluated the microbiological quality and the sensory characteristics of carp fillets processed by the sousvide method when stored at 2 and 10 °C. Four different combinations of sauced–storage were studied then stored at 2 or 10 °C was evaluate periodically sensory, microbiological and chemical quality. Batches stored at 2 °C had lower growth rates of mesophiles and psychrotrophs. Moreover, these counts decreased by increasing the heating temperature and time. Staphylococcus aureus, Bacillus cereus, Clostridium perfringens and Listeria monocytogenes were not found in any of the samples. The heat treatment of 90 °C for 15 min and sauced was the most effective to ensure the safety and extend the shelf-life of sousvide carp preserving its sensory characteristics. This study establishes the microbiological quality of sous vide carp and emphasizes the relevance of the raw materials, heat treatment and storage temperature to ensure the safety of the product.

Keywords: Sous- vide methods, carp, sauce, microbiological, chemical and sensory quality

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2609
526 Suitability of Requirements Abstraction Model (RAM) Requirements for High-Level System Testing

Authors: Naeem Muhammad, Yves Vandewoude, Yolande Berbers, Robert Feldt

Abstract:

The Requirements Abstraction Model (RAM) helps in managing abstraction in requirements by organizing them at four levels (product, feature, function and component). The RAM is adaptable and can be tailored to meet the needs of the various organizations. Because software requirements are an important source of information for developing high-level tests, organizations willing to adopt the RAM model need to know the suitability of the RAM requirements for developing high-level tests. To investigate this suitability, test cases from twenty randomly selected requirements were developed, analyzed and graded. Requirements were selected from the requirements document of a Course Management System, a web based software system that supports teachers and students in performing course related tasks. This paper describes the results of the requirements document analysis. The results show that requirements at lower levels in the RAM are suitable for developing executable tests whereas it is hard to develop from requirements at higher levels.

Keywords: Market-driven requirements engineering, requirements abstraction model, requirements abstraction, system testing.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1951
525 Understanding Cruise Passengers’ On-board Experience throughout the Customer Decision Journey

Authors: Sabina Akter, Osiris Valdez Banda, Pentti Kujala, Jani Romanoff

Abstract:

This paper examines the relationship between on-board environmental factors and customer overall satisfaction in the context of the cruise on-board experience. The on-board environmental factors considered are ambient, layout/design, social, product/service and on-board enjoyment factors. The study presents a data-driven framework and model for the on-board cruise experience. The data are collected from 893 respondents in an application of a self-administered online questionnaire of their cruise experience. This study reveals the cruise passengers’ on-board experience through the customer decision journey based on the publicly available data. Pearson correlation and regression analysis have been applied, and the results show a positive and a significant relationship between the environmental factors and on-board experience. These data help understand the cruise passengers’ on-board experience, which will be used for the ultimate decision-making process in cruise ship design.

Keywords: Cruise behavior, on-board environmental factors, on-board experience, user or customer satisfaction.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 838
524 Deep Reinforcement Learning Approach for Trading Automation in the Stock Market

Authors: Taylan Kabbani, Ekrem Duman

Abstract:

Deep Reinforcement Learning (DRL) algorithms can scale to previously intractable problems. The automation of profit generation in the stock market is possible using DRL, by combining  the financial assets price ”prediction” step and the ”allocation” step of the portfolio in one unified process to produce fully autonomous systems capable of interacting with its environment to make optimal decisions through trial and error. This work represents a DRL model to generate profitable trades in the stock market, effectively overcoming the limitations of supervised learning approaches. We formulate the trading problem as a Partially observed Markov Decision Process (POMDP) model, considering the constraints imposed by the stock market, such as liquidity and transaction costs. We then solved the formulated POMDP problem using the Twin Delayed Deep Deterministic Policy Gradient (TD3) algorithm and achieved a 2.68 Sharpe ratio on the test dataset. From the point of view of stock market forecasting and the intelligent decision-making mechanism, this paper demonstrates the superiority of DRL in financial markets over other types of machine learning and proves its credibility and advantages of strategic decision-making.

Keywords: Autonomous agent, deep reinforcement learning, MDP, sentiment analysis, stock market, technical indicators, twin delayed deep deterministic policy gradient.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 484
523 Customers 50+ Behavior in the Financial Market in the Czech Republic

Authors: K. Matušínská, H. Starzyczná, M. Stoklasa

Abstract:

The paper deals with behaviour of the segment 50+ in the financial market in the Czech Republic. This segment could be said as the strong market power and it can be a crucial business potential for financial business units. The main defined objective of this paper is analysis of the customers´ behaviour of the segment 50- 60 years in the financial market in the Czech Republic and proposal making of the suitable marketing approach to satisfy their demands in the area of product, price, distribution and marketing communication policy. This paper is based on data from one part of primary marketing research. Paper determinates the basic problem areas as well as definition of financial services marketing, defining the primary research problem, hypothesis and primary research methodology. Finally suitable marketing approach to selected sub segment at age of 50-60 years is proposed according to marketing research findings.

Keywords: Population aging in the Czech Republic, Segment 50-60 years, Financial services marketing, Marketing research, Marketing approach.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2023
522 Financial Portfolio Optimization in Electricity Markets: Evaluation via Sharpe Ratio

Authors: F. Gökgöz, M. E. Atmaca

Abstract:

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

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

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1459
521 A Panel Cointegration Analysis for Macroeconomic Determinants of International Housing Market

Authors: Mei-Se Chien, Chien-Chiang Lee, Sin-Jie Cai

Abstract:

The main purpose of this paper is to investigate thelong-run equilibrium and short-run dynamics of international housing prices when macroeconomic variables change. We apply the Pedroni’s, panel cointegration, using the unbalanced panel data analysis of 33 countries over the period from 1980Q1 to 2013Q1, to examine the relationships among house prices and macroeconomic variables. Our empirical results of panel data cointegration tests support the existence of a cointegration among these macroeconomic variables and house prices. Besides, the empirical results of panel DOLS further present that a 1% increase in economic activity, long-term interest rates, and construction costs cause house prices to respectively change 2.16%, -0.04%, and 0.22% in the long run.Furthermore, the increasing economic activity and the construction cost would cause strongerimpacts on the house prices for lower income countries than higher income countries.The results lead to the conclusion that policy of house prices growth can be regarded as economic growth for lower income countries. Finally, in America region, the coefficient of economic activity is the highest, which displays that increasing economic activity causes a faster rise in house prices there than in other regions. There are some special cases whereby the coefficients of interest rates are significantly positive in America and Asia regions.

Keywords: House prices, Macroeconomic Variables, Panel cointegration, Dynamic OLS.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 5137
520 Biohydrogen Production from Starch Residues

Authors: Francielo Vendruscolo

Abstract:

This review summarizes the potential of starch agroindustrial residues as substrate for biohydrogen production. Types of potential starch agroindustrial residues, recent developments and bio-processing conditions for biohydrogen production will be discussed. Biohydrogen is a clean energy source with great potential to be an alternative fuel, because it releases energy explosively in heat engines or generates electricity in fuel cells producing water as only by-product. Anaerobic hydrogen fermentation or dark fermentation seems to be more favorable, since hydrogen is yielded at high rates and various organic waste enriched with carbohydrates as substrate result in low cost for hydrogen production. Abundant biomass from various industries could be source for biohydrogen production where combination of waste treatment and energy production would be an advantage. Carbohydrate-rich nitrogendeficient solid wastes such as starch residues can be used for hydrogen production by using suitable bioprocess technologies. Alternatively, converting biomass into gaseous fuels, such as biohydrogen is possibly the most efficient way to use these agroindustrial residues.

Keywords: Biofuel, dark fermentation, starch residues, food waste.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3678
519 Taguchi-Based Six Sigma Approach to Optimize Surface Roughness for Milling Processes

Authors: Sky Chou, Joseph C. Chen

Abstract:

This paper focuses on using Six Sigma methodologies to improve the surface roughness of a manufactured part produced by the CNC milling machine. It presents a case study where the surface roughness of milled aluminum is required to reduce or eliminate defects and to improve the process capability index Cp and Cpk for a CNC milling process. The six sigma methodology, DMAIC (design, measure, analyze, improve, and control) approach, was applied in this study to improve the process, reduce defects, and ultimately reduce costs. The Taguchi-based six sigma approach was applied to identify the optimized processing parameters that led to the targeted surface roughness specified by our customer. A L9 orthogonal array was applied in the Taguchi experimental design, with four controllable factors and one non-controllable/noise factor. The four controllable factors identified consist of feed rate, depth of cut, spindle speed, and surface roughness. The noise factor is the difference between the old cutting tool and the new cutting tool. The confirmation run with the optimal parameters confirmed that the new parameter settings are correct. The new settings also improved the process capability index. The purpose of this study is that the Taguchi–based six sigma approach can be efficiently used to phase out defects and improve the process capability index of the CNC milling process.

Keywords: CNC machining, Six Sigma, Surface roughness, Taguchi methodology.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1032
518 Impact of Mergers and Acquisitions on Consumers- Welfare: Experience of Indian Manufacturing Sector

Authors: Pulak Mishra, P V Kiran Kumar

Abstract:

In the context of introduction of deregulatory policy measures and subsequent wave of mergers and acquisitions (M&A) in Indian corporate sector since 1991, the present paper attempts to examine the welfare implications of this wave. It is found that M&A do not have any significant impact on consumers- welfare. Instead, consumers- welfare is significantly influenced by exports intensity, imports intensity, advertising intensity, technology related efforts, and past profitability of the firms. While the industries with higher exports orientation or greater product differentiation or better financial performance experience greater loss in consumers- welfare, it is less in the industries with greater competition from imports or better technology. Hence, the wave of M&A in Indian manufacturing sector in the post-liberalization era may not be a matter of serious concern from consumers- welfare point of view. Instead, in many cases, M&A can help the firms in consolidating their business and enhancing competitiveness, and this may benefit the consumers in the form of greater efficiency and lower prices.

Keywords: Mergers, acquisitions, concentration, welfare, IndiaJEL CodesÔÇöL1, L2, L4, L5

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3565
517 A Study on the Impacts of Computer Aided Design on the Architectural Design Process

Authors: Halleh Nejadriahi, Kamyar Arab

Abstract:

Computer-aided design (CAD) tools have been extensively used by the architects for the several decades. It has evolved from being a simple drafting tool to being an intelligent architectural software and a powerful means of communication for architects. CAD plays an essential role in the profession of architecture and is a basic tool for any architectural firm. It is not possible for an architectural firm to compete without taking the advantage of computer software, due to the high demand and competition in the architectural industry. The aim of this study is to evaluate the impacts of CAD on the architectural design process from conceptual level to final product, particularly in architectural practice. It examines the range of benefits of integrating CAD into the industry and discusses the possible defects limiting the architects. Method of this study is qualitatively based on data collected from the professionals’ perspective. The identified benefits and limitations of CAD on the architectural design process will raise the awareness of professionals on the potentials of CAD and proper utilization of that in the industry, which would result in a higher productivity along with a better quality in the architectural offices.

Keywords: Architecture, architectural practice, computer aided design, CAD, design process.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1875
516 Reduction Conditions of Briquetted Solid Wastes Generated by the Integrated Iron and Steel Plant

Authors: Gökhan Polat, Dicle Kocaoğlu Yılmazer, Muhlis Nezihi Sarıdede

Abstract:

Iron oxides are the main input to produce iron in integrated iron and steel plants. During production of iron from iron oxides, some wastes with high iron content occur. These main wastes can be classified as basic oxygen furnace (BOF) sludge, flue dust and rolling scale. Recycling of these wastes has a great importance for both environmental effects and reduction of production costs. In this study, recycling experiments were performed on basic oxygen furnace sludge, flue dust and rolling scale which contain 53.8%, 54.3% and 70.2% iron respectively. These wastes were mixed together with coke as reducer and these mixtures are pressed to obtain cylindrical briquettes. These briquettes were pressed under various compacting forces from 1 ton to 6 tons. Also, both stoichiometric and twice the stoichiometric cokes were added to investigate effect of coke amount on reduction properties of the waste mixtures. Then, these briquettes were reduced at 1000°C and 1100°C during 30, 60, 90, 120 and 150 min in a muffle furnace. According to the results of reduction experiments, the effect of compacting force, temperature and time on reduction ratio of the wastes were determined. It is found that 1 ton compacting force, 150 min reduction time and 1100°C are the optimum conditions to obtain reduction ratio higher than 75%.

Keywords: Iron oxide wastes, reduction, coke, recycling.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1291
515 The Relationship of the Marketing Mix, Brand Image, and Consumer Behavior of the Low-Cost Airlines Service

Authors: Bundit Pungnirund

Abstract:

This research aimed to investigate the relationship between attitude towards marketing mix, brand image and consumer behavior of the passengers of low-cost airlines service. This study employed by quantitative research and the questionnaire was used to collect the data from 400 sampled of the passengers who have ever used the low-cost airline services based in Bangkok, Thailand. The descriptive statistics and Pearson’s correlation analysis were used to analyze data. The research results revealed that the attitude of the marketing mix of the low-cost airline services including product, price, place, promotion and process had related to the consumer behavior on the aspects of duration of service and frequency of service. While, the brand image of the low cost airline including the characteristics of organization, service quality and company identity had related to the consumer behavior on duration of service, frequency of service and cost of service at the significant statistically acceptable levels.

Keywords: Brand image, consumer behavior, low-cost airlines, marketing mix.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3007
514 Basicity of Jordanian Natural Clays Studied by Pyrrole-tpd and Catalytic Conversion of Methylbutynol

Authors: M. Z. Alsawalha

Abstract:

The main objective of this study is to investigate basic properties of different natural clays, by two methods. The first method is a gas phase conversion of methylbutynol (MBOH). The second method is the application of Pyrrole-tpd. Based on the product distribution from the first method, the acidic, basic and coordinately unsaturated sites were differentiated. It was shown that both the conversion and the selectivity for basic products did not change with reaction time. Nevertheless, a deviation from the stoichiometric ratio R of formed acetylene to acetone was observed (R=0.8…0.97). The conversion normalized to the surface area was used for establishing the activity sequence: White kaolinite > red kaolinite > bentonite > zeolite > di­ato­mite. In addition, the results were compared with synthetic amorphous alumosilicates and typical basic materials like MgO and ZnO. The basic properties were characterized using the Pyrrole-tpd.  The Pyrrole-tpd results showed the same basicity sequence as the MBOH gas phase reaction.

Keywords: Alumosilicates, basic surface properties, natural clays, normalized conversions with acetylene and acetone, pyrrole-TPD adsorption.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1083