Search results for: Transaction costs
720 The Impact of Transaction Costs on Rebalancing an Investment Portfolio in Portfolio Optimization
Authors: B. Marasović, S. Pivac, S. V. Vukasović
Constructing a portfolio of investments is one of the most significant financial decisions facing individuals and institutions. In accordance with the modern portfolio theory maximization of return at minimal risk should be the investment goal of any successful investor. In addition, the costs incurred when setting up a new portfolio or rebalancing an existing portfolio must be included in any realistic analysis. In this paper rebalancing an investment portfolio in the presence of transaction costs on the Croatian capital market is analyzed. The model applied in the paper is an extension of the standard portfolio mean-variance optimization model in which transaction costs are incurred to rebalance an investment portfolio. This model allows different costs for different securities, and different costs for buying and selling. In order to find efficient portfolio, using this model, first, the solution of quadratic programming problem of similar size to the Markowitz model, and then the solution of a linear programming problem have to be found. Furthermore, in the paper the impact of transaction costs on the efficient frontier is investigated. Moreover, it is shown that global minimum variance portfolio on the efficient frontier always has the same level of the risk regardless of the amount of transaction costs. Although efficient frontier position depends of both transaction costs amount and initial portfolio it can be concluded that extreme right portfolio on the efficient frontier always contains only one stock with the highest expected return and the highest risk.
Keywords: Croatian capital market, Fractional quadratic programming, Markowitz model, Portfolio optimization, Transaction costs.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2804
719 PSO-based Possibilistic Portfolio Model with Transaction Costs
Authors: Wei Chen, Cui-you Yao, Yue Qiu
Abstract:This paper deals with a portfolio selection problem based on the possibility theory under the assumption that the returns of assets are LR-type fuzzy numbers. A possibilistic portfolio model with transaction costs is proposed, in which the possibilistic mean value of the return is termed measure of investment return, and the possibilistic variance of the return is termed measure of investment risk. Due to considering transaction costs, the existing traditional optimization algorithms usually fail to find the optimal solution efficiently and heuristic algorithms can be the best method. Therefore, a particle swarm optimization is designed to solve the corresponding optimization problem. At last, a numerical example is given to illustrate our proposed effective means and approaches.
Keywords: Possibility theory, portfolio selection, transaction costs, particle swarm optimization.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1415
718 Transaction Costs in Institutional Environment and Entry Mode Choice
Authors: K. D. Mroczek
In the study presented institutional context is discussed in terms of companies’ entry mode choice. In contrary to many previous analyses, instead of using one or two aggregated variables, a set of eleven determinants is used to establish equity and non-equity internationalization friendly conditions. Based on secondary data, 140 countries are analyzed and grouped into clusters revealing similar framework. The range of the economies explored is wide as it covers all regions distinguished by The World Bank. The results can prove a useful alternative for operationalization of institutional variables in further research concerning entry modes or strategic management in international markets.
Keywords: Clustering, entry mode choice, institutional environment, transaction costs.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2843
717 Institutional Efficiency of Commonhold Industrial Parks Using a Polynomial Regression Model
Authors: Jeng-Wen Lin, Simon Chien-Yuan Chen
Abstract:Based on assumptions of neo-classical economics and rational choice / public choice theory, this paper investigates the regulation of industrial land use in Taiwan by homeowners associations (HOAs) as opposed to traditional government administration. The comparison, which applies the transaction cost theory and a polynomial regression analysis, manifested that HOAs are superior to conventional government administration in terms of transaction costs and overall efficiency. A case study that compares Taiwan-s commonhold industrial park, NangKang Software Park, to traditional government counterparts using limited data on the costs and returns was analyzed. This empirical study on the relative efficiency of governmental and private institutions justified the important theoretical proposition. Numerical results prove the efficiency of the established model.
Keywords: Homeowners Associations, Institutional Efficiency, Polynomial Regression, Transaction Cost.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1454
716 The Investigation of the Role of Institutions in the Process of Growth and Development of Economy
Authors: Seyed Mohammad Reza Hosseini
Abstract:The new institutional Economics helps generalization and expansion of new classic by adding the institution theories to Economic. It is clear that the appropriate institution is among the factors that lead to success in Economic programs. If the institutional are appropriate, the society will save the source and when we make use of time to apply the program, there will be welfare and average revenue product will also increase. In Economy, one should not expect the real manifestation of Economic programs only with a model for estimating and predicting rather institutions of the same purpose and along with production are needed to form the process of growth and development costs. In this research, the institution role in transaction costs, financial markets, distribution of revenue and capital and its influence on the process of growth and development are investigated so that handicaps and problems of Iran Economic Institutions can be recognized. In other words, incapability, non productivity and ambiguity of the institution in Iran Economic are some of the factors that handicap Economic growth and development. For example, Iran government as an important institution while having 20 ministries,83 organizations and 60 years of programming could not go along the growth and development but why?
Keywords: Institution, New institutional economics, Transaction costs.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1503
715 A Programming Solution for Moving Mobile Transaction
Authors: Osman Mohammed Hegazy, Ali Hamed El Bastawissy, Romani Farid Ibrahim
In this paper, our concern is the management of mobile transactions in the shared area among many servers, when the mobile user moves from one cell to another in online partiallyreplicated distributed mobile database environment. We defined the concept of transaction and classified the different types of transactions. Based on this analysis, we propose an algorithm that handles the disconnection due to moving among sites.
Keywords: Concurrency, mobile database, transaction processing, two phase locking.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1527
714 Investigation of Compliance of the Prevailing Import Murabah'a to Sharia
Authors: Aqeel Akhtar
Abstract:One of prevailing modes of finance in emerging Islamic banking system is Murabah’a. It means a financial dealing or transaction in which seller tells cost of the goods to be sold to buyer. Otherwise, the transaction would become invalid. In this mainstream, import Murabah’a transaction is divergent in such a way that the cost is not recognized and identified due to execution of import transaction in foreign currency i.e. US Dollar and the next transaction of Murabaha’a with the client is executed in local currency. Since this transaction is executed in dual currency i.e. bank pays supplier in foreign currency and executes Murabah’a with its client in local currency and it is not allowed in according to Islamic Injunctions as mentioned in hadith narrated by Hazrat Ibn-e-Umar (May Allah be pleased with them) used to sell his camels with Dirhams and take dinars instead and vice versa. Upon revealing before the Prophet (Peace be upon him), he was advised that it must not be contingent in the agreement and the ready rate would be applied and possession of one of the consideration is compulsory. The solution in this regard is that the import Murabah’a transaction should be in single currency However, other currency can be paid in payment at the time of payment in a very indispensable situation provided that ready rate would be applied. Moreover, some of other solutions have also been given in this regard.
Keywords: Shariah compliance, import murabaha, islamic banking, product development.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1501
713 Modeling of Session Initiation Protocol Invite Transaction using Colored Petri Nets
Authors: Sabina Baraković, Dragan Jevtić, Jasmina Baraković Husić
Abstract:Wireless mobile communications have experienced the phenomenal growth through last decades. The advances in wireless mobile technologies have brought about a demand for high quality multimedia applications and services. For such applications and services to work, signaling protocol is required for establishing, maintaining and tearing down multimedia sessions. The Session Initiation Protocol (SIP) is an application layer signaling protocols, based on request/response transaction model. This paper considers SIP INVITE transaction over an unreliable medium, since it has been recently modified in Request for Comments (RFC) 6026. In order to help in assuring that the functional correctness of this modification is achieved, the SIP INVITE transaction is modeled and analyzed using Colored Petri Nets (CPNs). Based on the model analysis, it is concluded that the SIP INVITE transaction is free of livelocks and dead codes, and in the same time it has both desirable and undesirable deadlocks. Therefore, SIP INVITE transaction should be subjected for additional updates in order to eliminate undesirable deadlocks. In order to reduce the cost of implementation and maintenance of SIP, additional remodeling of the SIP INVITE transaction is recommended.
Keywords: Colored Petri Nets, SIP INVITE, state space, dead markingProcedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2806
712 Specifying Strict Serializability of Iterated Transactions in Propositional Temporal Logic
Authors: Walter Hussak
We present an operator for a propositional linear temporal logic over infinite schedules of iterated transactions, which, when applied to a formula, asserts that any schedule satisfying the formula is serializable. The resulting logic is suitable for specifying and verifying consistency properties of concurrent transaction management systems, that can be defined in terms of serializability, as well as other general safety and liveness properties. A strict form of serializability is used requiring that, whenever the read and write steps of a transaction occurrence precede the read and write steps of another transaction occurrence in a schedule, the first transaction must precede the second transaction in an equivalent serial schedule. This work improves on previous work in providing a propositional temporal logic with a serializability operator that is of the same PSPACE complete computational complexity as standard propositional linear temporal logic without a serializability operator.
Keywords: Temporal logic, iterated transactions, serializability.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1434
711 Modeling and Analyzing the WAP Class 2 Wireless Transaction Protocol Using Event-B
Authors: Rajaa Filali, Mohamed Bouhdadi
This paper presents an incremental formal development of the Wireless Transaction Protocol (WTP) in Event-B. WTP is part of the Wireless Application Protocol (WAP) architectures and provides a reliable request-response service. To model and verify the protocol, we use the formal technique Event-B which provides an accessible and rigorous development method. This interaction between modelling and proving reduces the complexity and helps to eliminate misunderstandings, inconsistencies, and specification gaps. As result, verification of WTP allows us to find some deficiencies in the current specification.
Keywords: Event-B, wireless transaction protocol, refinement, proof obligation, Rodin, ProB.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 699
710 An Analysis of Real-Time Distributed System under Different Priority Policies
Authors: Y. Jayanta Singh, Suresh C. Mehrotra
Abstract:A real time distributed computing has heterogeneously networked computers to solve a single problem. So coordination of activities among computers is a complex task and deadlines make more complex. The performances depend on many factors such as traffic workloads, database system architecture, underlying processors, disks speeds, etc. Simulation study have been performed to analyze the performance under different transaction scheduling: different workloads, arrival rate, priority policies, altering slack factors and Preemptive Policy. The performance metric of the experiments is missed percent that is the percentage of transaction that the system is unable to complete. The throughput of the system is depends on the arrival rate of transaction. The performance can be enhanced with altering the slack factor value. Working on slack value for the transaction can helps to avoid some of transactions from killing or aborts. Under the Preemptive Policy, many extra executions of new transactions can be carried out.
Keywords: Real distributed systems, slack factors, transaction scheduling, priority policies.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1506
709 Theoretical Background of Dividend Taxation
Authors: Margareta Ilkova, Petr Teply
The article deals with dividends and their distribution from investors from a theoretical point of view. Some studies try to analyzed the reaction of the market on the dividend announcement and found out the change of dividend policy is associated with abnormal returns around the dividend announcement date. Another researches directly questioned the investors about their dividend preference and beliefs. Investors want the dividend from many reasons (e.g. some of them explain the dividend preference by the existence of transaction cost; investors prefer the dividend today, because there is less risky; the managers have private information about the firm). The most controversial theory of dividend policy was developed by Modigliani and Miller (1961) who demonstrated that in the perfect and complete capital markets the dividend policy is irrelevant and the value of the company is independent of its payout policy. Nevertheless, in the real world the capital markets are imperfect, because of asymmetric information, transaction costs, incomplete contracting possibilities and taxes.
Keywords: dividend distribution, taxation, payout policy, investor, Modigliani and Miller theoremProcedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1967
708 Providing a Practical Model to Reduce Maintenance Costs: A Case Study in GeG Company
Authors: Iman Atighi, Jalal Soleimannejad, Reza Pourjafarabadi, Saeid Moradpour
In the past, we could increase profit by increasing product prices. But in the new decade, a competitive market does not let us to increase profit with increased prices. Therefore, the only way to increase profit will be to reduce costs. A significant percentage of production costs are the maintenance costs, and analysis of these costs could achieve more profit. Most maintenance strategies such as RCM (Reliability-Center-Maintenance), TPM (Total Productivity Maintenance), PM (Preventive Maintenance) and etc., are trying to reduce maintenance costs. In this paper, decreasing the maintenance costs of Concentration Plant of Golgohar Iron Ore Mining & Industrial Company (GeG) was examined by using of MTBF (Mean Time Between Failures) and MTTR (Mean Time To Repair) analyses. These analyses showed that instead of buying new machines and increasing costs in order to promote capacity, the improving of MTBF and MTTR indexes would solve capacity problems in the best way and decrease costs.
Keywords: GeG Company, maintainability, maintenance costs, reliability-center-maintenance.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 576
707 The Importance of Enterprise Support for Tourism Workers- Successful Use of a Cash Transaction System: An Information Systems Continuance Approach
Authors: Anne M. Sørebø
Abstract:In this paper we investigate how wide-ranging organizational support and the more specific form of support, namely management support, may influence on tourism workers satisfaction with a cash transaction system. The IS continuance theory, proposed by Bhattacherjee in 2001, is utilized as a theoretical framework. This implies that both perceived usefulness and ease of use is included in the research model, in addition to organizational and management support. The sample consists of 500 workers from 10 cruise and tourist ferries in Scandinavia that use a cash transaction system to perform their work tasks. Using structural equation modelling, results indicate that organizational support and ease of use perceptions is critical for the users- level of satisfaction with the cash transaction system.The findings have implications for business managers and IS practitioners that want to increase the quality of IT-based business processes within the tourism industry.
Keywords: ease of use, IS continuance, organizational support, tourism industry, user satisfaction.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1441
706 Providing a Practical Model to Reduce Maintenance Costs: A Case Study in Golgohar Company
Authors: Iman Atighi, Jalal Soleimannejad, Ahmad Akbarinasab, Saeid Moradpour
In the past, we could increase profit by increasing product prices. But in the new decade, a competitive market does not let us to increase profit with increase prices. Therefore, the only way to increase profit will be reduce costs. A significant percentage of production costs are the maintenance costs, and analysis of these costs could achieve more profit. Most maintenance strategies such as RCM (Reliability-Center-Maintenance), TPM (Total Productivity Maintenance), PM (Preventive Maintenance) etc., are trying to reduce maintenance costs. In this paper, decreasing the maintenance costs of Concentration Plant of Golgohar Company (GEG) was examined by using of MTBF (Mean Time between Failures) and MTTR (Mean Time to Repair) analyses. These analyses showed that instead of buying new machines and increasing costs in order to promote capacity, the improving of MTBF and MTTR indexes would solve capacity problems in the best way and decrease costs.
Keywords: Golgohar Iron Ore Mining & Industrial Company, maintainability, maintenance costs, reliability-center-maintenance.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 488
705 Determinants of R&D Outsourcing at Japanese Firms: Transaction Cost and Strategic Management Perspectives
Authors: Dai Miyamoto
Abstract:This paper examines the factors, which determine R&D outsourcing behaviour at Japanese firms, from the viewpoints of transaction cost and strategic management, since the latter half of the 1990s. This study uses empirical analysis, which involves the application of large-sample data. The principal findings of this paper are listed below. Firms that belong to a wider corporate group are more active in executing R&D outsourcing activities. Diversification strategies such as the expansion of product and sales markets have a positive effect on the R&D outsourcing behaviour of firms. Moreover, while quantitative R&D resources have positive influences on R&D outsourcing, qualitative indices have no effect. These facts suggest that R&D outsourcing behaviour of Japanese firms are consistent with the two perspectives of transaction cost and strategic management. Specifically, a conventional corporate group network plays an important role in R&D outsourcing behaviour. Firms that execute R&D outsourcing leverage 'old' networks to construct 'new' networks and use both networks properly.
Keywords: Corporate Group Networks, R&D Outsourcing, Strategic Management Perspective, Transaction Cost Perspective.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1545
704 A Study on the Relationship between Transaction Fairness, Social Capital, Supply Chain Integration and Sustainability: Focusing on Manufacturing Companies of South Korea
Authors: Sung-Min Park, Chan Kwon Park, Chae-Bogk Kim
The purpose of this study is to analyze the relationship between transaction fairness, social capital, supply chain integration and sustainability. Based on the previous studies, measurement items were determined by using SPSS 22 and exploratory factor analysis was performed, and again, using AMOS 21 for confirmatory factor analysis and path analysis was performed by using study items that satisfy reliability, validity, and appropriateness of measurement model. It has shown that transaction fairness has a (+) significant effect on social capital, social capital on supply chain integration, supply chain integration on economic sustainability and social sustainability, and has a (+), but not significant effect on environmental sustainability. It has shown that supply chain integration has been proven to play a role as a parameter between social capital and economic and social sustainability, but not as a parameter between environmental sustainability. Through this study, it is suggested that clearly examining the relationship between fairness of trade, social capital, supply chain integration and sustainability, maintaining fairness of the transaction make formation of social capital, and further integration of supply chain, and achieve sustainability of entire supply chain.
Keywords: Transaction fairness, social capital, supply chain integration, sustainability.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 824
703 The Cost Structure of Intermodal Transportation: The Chilean Case
Authors: Mabel A. Leva
This study defines a methodology to compute unitary costs for freight transportation modes. The main objective was to gather relevant costs data to support the formulation and evaluation of railway, road, pipelines and port projects. This article will concentrate on the following steps: Compilation and analysis of relevant modal cost studies, Methodological adjustments to make cost figures comparable between studies, Definition of typology and scope of transportation modes, Analysis and validation of cost values for relevant freight transportation modes in Chile. In order to define the comparison methodology for the costs between the different transportation modes, it was necessary to consider that the relevant cost depends on who performs the comparison. Thus, for the transportation user (e.g. exporter) the pertinent costs are the mode tariffs, whereas from the operators perspective (e.g. rail manager), the pertinent costs are the operating costs of each mode.
Keywords: Intermodal costs, Logistics, Transportation costs.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 5330
702 Generating Frequent Patterns through Intersection between Transactions
Authors: M. Jamali, F. Taghiyareh
Abstract:The problem of frequent itemset mining is considered in this paper. One new technique proposed to generate frequent patterns in large databases without time-consuming candidate generation. This technique is based on focusing on transaction instead of concentrating on itemset. This algorithm based on take intersection between one transaction and others transaction and the maximum shared items between transactions computed instead of creating itemset and computing their frequency. With applying real life transactions and some consumption is taken from real life data, the significant efficiency acquire from databases in generation association rules mining.
Keywords: Association rules, data mining, frequent patterns, shared itemset.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1276
701 Ensuring Data Security and Consistency in FTIMA - A Fault Tolerant Infrastructure for Mobile Agents
Authors: Umar Manzoor, Kiran Ijaz, Wajiha Shamim, Arshad Ali Shahid
Abstract:Transaction management is one of the most crucial requirements for enterprise application development which often require concurrent access to distributed data shared amongst multiple application / nodes. Transactions guarantee the consistency of data records when multiple users or processes perform concurrent operations. Existing Fault Tolerance Infrastructure for Mobile Agents (FTIMA) provides a fault tolerant behavior in distributed transactions and uses multi-agent system for distributed transaction and processing. In the existing FTIMA architecture, data flows through the network and contains personal, private or confidential information. In banking transactions a minor change in the transaction can cause a great loss to the user. In this paper we have modified FTIMA architecture to ensure that the user request reaches the destination server securely and without any change. We have used triple DES for encryption/ decryption and MD5 algorithm for validity of message.
Keywords: Distributed Transaction, Security, Mobile Agents, FTIMA Architecture.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1403
700 The Effect of Failure Rate on Repair and Maintenance Costs of Four Agricultural Tractor Models
Authors: Fatemeh Afsharnia, Mohammad Amin Asoodar, Abbas Abdeshahi
In economical evaluation literature, although the combination of some variables such as repair and maintenance costs and accumulated use hours has been widely considered in determining of optimum life for tractor, no investigation has indicated the influence of failure rate on repair and maintenance costs. In this study, the owners of three hundred tractors, which include Massey Ferguson, John Deere and Universal, were interviewed, from five regions of Khouzestan Province. A regression model was used to predict the tractors annual repair and maintenance costs based on failure rate. Results showed that the maximum percentage of annual repair and maintenance costs occurred in engine parts for MF285, JD3140 and U650 tractors while these costs for tire, ring, ball bearing and operator seat were higher compared to other MF399 tractor systems. According to the results of the regression, the failure rate increase would lead to annual repair and maintenance costs increase for all tractors. But, of all the tractors, repair and maintenance costs of JD3140 tractors extremely affected by the failure rate increase.
Keywords: Failure rate, tractor, annual repair and maintenance costs, regression model, Khouzestan.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4137
699 A Study on the Secure ebXML Transaction Models
Authors: Dongkyoo Shin, Dongil Shin, Sukil Cha, Seyoung Kim
Abstract:ebXML (Electronic Business using eXtensible Markup Language) is an e-business standard, sponsored by UN/CEFACT and OASIS, which enables enterprises to exchange business messages, conduct trading relationships, communicate data in common terms and define and register business processes. While there is tremendous e-business value in the ebXML, security remains an unsolved problem and one of the largest barriers to adoption. XML security technologies emerging recently have extensibility and flexibility suitable for security implementation such as encryption, digital signature, access control and authentication. In this paper, we propose ebXML business transaction models that allow trading partners to securely exchange XML based business transactions by employing XML security technologies. We show how each XML security technology meets the ebXML standard by constructing the test software and validating messages between the trading partners.
Keywords: Electronic commerce, e-business standard, ebXML, XML security, secure business transaction.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1628
698 Multiple-Level Sequential Pattern Discovery from Customer Transaction Databases
Abstract:Mining sequential patterns from large customer transaction databases has been recognized as a key research topic in database systems. However, the previous works more focused on mining sequential patterns at a single concept level. In this study, we introduced concept hierarchies into this problem and present several algorithms for discovering multiple-level sequential patterns based on the hierarchies. An experiment was conducted to assess the performance of the proposed algorithms. The performances of the algorithms were measured by the relative time spent on completing the mining tasks on two different datasets. The experimental results showed that the performance depends on the characteristics of the datasets and the pre-defined threshold of minimal support for each level of the concept hierarchy. Based on the experimental results, some suggestions were also given for how to select appropriate algorithm for a certain datasets.
Keywords: Data Mining, Multiple-Level Sequential Pattern, Concept Hierarchy, Customer Transaction Database.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1350
697 Knowledge Sharing Behavior in E-Communities: from the Perspective of Transaction Cost Theory
Authors: Teresa L. Ju, Szu-Yuan Sun, Pei-Ju Chao, Chang-Yao Wu
Abstract:This study aims to examine the factors affecting knowledge sharing behavior in knowledge-based electronic communities (e-communities) because quantity and quality of knowledge shared among the members play a critical role in the community-s sustainability. Past research has suggested three perspectives that may affect the quantity and quality of knowledge shared: economics, social psychology, and social ecology. In this study, we strongly believe that an economic perspective may be suitable to validate factors influencing newly registered members- knowledge contribution at the beginning of relationship development. Accordingly, this study proposes a model to validate the factors influencing members- knowledge sharing based on Transaction Cost Theory. By doing so, we may empirically test our hypotheses in various types of e-communities to determine the generalizability of our research models.
Keywords: Electronic community, individual behavior, knowledge sharing, transaction cost theory.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1358
696 Just-In-Time for Reducing Inventory Costs throughout a Supply Chain: A Case Study
Authors: Faraj Farhat El Dabee, Rajab Abdullah Hokoma
Abstract:Supply Chain Management (SCM) is the integration between manufacturer, transporter and customer in order to form one seamless chain that allows smooth flow of raw materials, information and products throughout the entire network that help in minimizing all related efforts and costs. The main objective of this paper is to develop a model that can accept a specified number of spare-parts within the supply chain, simulating its inventory operations throughout all stages in order to minimize the inventory holding costs, base-stock, safety-stock, and to find the optimum quantity of inventory levels, thereby suggesting a way forward to adapt some factors of Just-In-Time to minimizing the inventory costs throughout the entire supply chain. The model has been developed using Micro- Soft Excel & Visual Basic in order to study inventory allocations in any network of the supply chain. The application and reproducibility of this model were tested by comparing the actual system that was implemented in the case study with the results of the developed model. The findings showed that the total inventory costs of the developed model are about 50% less than the actual costs of the inventory items within the case study.
Keywords: Holding Costs, Inventory, JIT, Modeling, SCMProcedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3374
695 A Memetic Algorithm for an Energy-Costs-Aware Flexible Job-Shop Scheduling Problem
Authors: Christian Böning, Henrik Prinzhorn, Eric C. Hund, Malte Stonis
In this article, the flexible job-shop scheduling problem is extended by consideration of energy costs which arise owing to the power peak, and further decision variables such as work in process and throughput time are incorporated into the objective function. This enables a production plan to be simultaneously optimized in respect of the real arising energy and logistics costs. The energy-costs-aware flexible job-shop scheduling problem (EFJSP) which arises is described mathematically, and a memetic algorithm (MA) is presented as a solution. In the MA, the evolutionary process is supplemented with a local search. Furthermore, repair procedures are used in order to rectify any infeasible solutions that have arisen in the evolutionary process. The potential for lowering the real arising costs of a production plan through consideration of energy consumption levels is highlighted.
Keywords: Energy costs, flexible job-shop scheduling, memetic algorithm, power peak.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 982
694 The Impact of Quality Cost on Revenue Sharing in Supply Chain Management
Authors: Fayza Obied-Allah
Abstract:Customer’ needs, quality, and value creation while reducing costs through supply chain management provides challenges and opportunities for companies and researchers. In the light of these challenges, modern ideas must contribute to counter these challenges and exploit opportunities. Therefore, this paper discusses the impact of the quality cost on revenue sharing as a most important incentive to configure business networks. This paper develops the quality cost approach to align with the modern era. It develops a model to measure quality costs which might enable firms to manage revenue sharing in a supply chain. The developed model includes five categories; besides the well-known four categories (namely prevention costs, appraisal costs, internal failure costs, and external failure costs), a new category has been developed in this research as a new vision of the relationship between quality costs and innovations in industry. This new category is Recycle Cost. This paper also examines whether such quality costs in supply chains influence the revenue sharing between partners. Using the author's quality cost model, the relationship between quality costs and revenue sharing among partners is examined using a case study in an Egyptian manufacturing company which is a part of a supply chain. This paper argues that the revenue-sharing proportion allocated to supplier increases as the recycle cost of supplier increases, and the revenue-sharing proportion allocated to manufacturer increases as the prevention and appraisal costs increase, as well as the failure costs, the recycle costs of manufacturer, and the recycle costs of suppliers decrease. However, the results present surprising findings. The purposes of this study are developing quality cost approach and understanding the relationships between quality costs and revenue sharing in supply chains. Therefore, the present study contributes to theory and practice by explaining how the cost of recycling can be combined in quality cost model to better understanding the revenue sharing among partners in supply chains.
Keywords: Quality cost, Recycle cost, Revenue sharing, Supply chain.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1534
693 The Use of Process-Oriented Methods of Calculation to Determine the Costs of Logistics Processes
Authors: Tomas Cechura, Michal Simon
The aim of this paper is to create a proposal for determining the costs of logistics processes by using process-oriented calculation methods. The traditional approach is that logistics costs are part of manufacturing overhead which is usually calculated as a percentage surcharge. Therefore in the traditional approach it is not obvious where and in which activities costs were incurred. So it is impossible to trace logistics costs to products. Our point of view is trying to fix or at least improve this issue. Another benefit of applying the process approach is identification of logistics processes which are otherwise part of manufacturing overhead. In the first part this paper describes the development of process-oriented methods over time. The next part shows the possibility of implementing the process-oriented method called Prozesskostenrechnung to logistics processes. The conclusion summarizes advantages and disadvantages of using this method in logistics.
Keywords: Cost, logistics, calculation, process-oriented method.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1463
692 Performance Evaluation of Energy Efficient Communication Protocol for Mobile Ad Hoc Networks
Authors: Toshihiko Sasama, Kentaro Kishida, Kazunori Sugahara, Hiroshi Masuyama
Abstract:A mobile ad hoc network is a network of mobile nodes without any notion of centralized administration. In such a network, each mobile node behaves not only as a host which runs applications but also as a router to forward packets on behalf of others. Clustering has been applied to routing protocols to achieve efficient communications. A CH network expresses the connected relationship among cluster-heads. This paper discusses the methods for constructing a CH network, and produces the following results: (1) The required running costs of 3 traditional methods for constructing a CH network are not so different from each other in the static circumstance, or in the dynamic circumstance. Their running costs in the static circumstance do not differ from their costs in the dynamic circumstance. Meanwhile, although the routing costs required for the above 3 methods are not so different in the static circumstance, the costs are considerably different from each other in the dynamic circumstance. Their routing costs in the static circumstance are also very different from their costs in the dynamic circumstance, and the former is one tenths of the latter. The routing cost in the dynamic circumstance is mostly the cost for re-routing. (2) On the strength of the above results, we discuss new 2 methods regarding whether they are tolerable or not in the dynamic circumstance, that is, whether the times of re-routing are small or not. These new methods are revised methods that are based on the traditional methods. We recommended the method which produces the smallest routing cost in the dynamic circumstance, therefore producing the smallest total cost.
Keywords: cluster, mobile ad hoc network, re-routing cost, simulationProcedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1178
691 Evaluation of The Energy Performance of Shading Devices based on Incremental Costs
Authors: Jian Yao, Chengwen Yan
Solar shading designs are important for reduction of building energy consumption and improvement of indoor thermal environment. This paper carried out a number of building simulations for evaluation of the energy performance of different shading devices based on incremental costs. The results show that movable shading devices lower incremental costs by up to 50% compared with fixed ones for the same building energy efficiency for residential buildings, and wing panel shadings are much more suitable in commercial buildings than baring screen ones and overhangs for commercial buildings.
Keywords: Solar shading, Incremental costs, Building energy consumption.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1449