Search results for: Vendor Managed Inventory

Authors: Elya S. Pepoyan, Astghik Z. Pepoyan

Abstract:

The Zung self-depression scale and Beck Anxiety Inventory were used both to study the depression and anxiety levels of Armenian Crohn’s disease patients, and to reveal the relation between emotional status and placebo effect of these patients. On the other hand, the blood cell analyses and gut bacteria investigations were used to assess the placebo effect on ESR, and haemoglobin-s and leukocyte-s levels as well as gut commensal E. coli quantities of these patients. Despite of registered high levels of depression and anxiety, the high placebo effect on psychoemotional status for investigated patients during the investigations was described. On the other hand, no positive effect of placebo on measurements of ESP and hemoglobin-s levels of Crohn’s disease patients was revealed. The importance of use of psychotherapies for optimal outcomes during treatments of Crohn’s disease is discussed.

Keywords: Crohn's disease, emotional disorders, placebo, gut microflora and blood composition.

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Authors: Edison Muzenda

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Gauteng, as the province with the greatest industrial and population density, the economic hub of South Africa also generates the greatest amount of waste, both general and hazardous. Therefore the province has a significant need to develop and apply appropriate integrated waste management policies that ensure that waste is recognised as a serious problem and is managed in an effective integrated manner to preserve both the present and future human health and environment. This paper reflects on Gauteng-s waste outlook in particular the province-s General Waste Minimisation Plan and its Integrated Waste Management Policy. The paper also looks at general waste generation, recyclable waste streams as well as recycling and separation at source initiatives in the province. Both the quantity and nature of solid waste differs considerably across the socio-economic spectrum. People in informal settlements generate an average of 0.16 kg per person per day whereas 2 kg per day is not unusual in affluent areas. For example the amount of waste generated in Johannesburg is approximately 1.2 kg per person per day.

Keywords: General waste, generation, integrated, minimisation, recycling, separation

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Authors: M. W. Siddiqi, M. Ilyas

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Availability and mobilization of revenue is the main essential with which an economy is managed and run. While planning or while making the budgets nations set revenue targets to be achieved. But later when the accounts are closed the actual collections of revenue through taxes or even the non-tax revenue collection would invariably be different as compared to the initial estimates and targets set to be achieved. This revenue-gap distorts the whole system and the economy disturbing all the major macroeconomic indicators. This study is aimed to find out short and long term impact of revenue gap on budget deficit, debt burden and economic growth on the economy of Pakistan. For this purpose the study uses autoregressive distributed lag approach to cointegration and error correction mechanism on three different models for the period 1980 to 2009. The empirical results show that revenue gap has a short and long run relationship with economic growth and budget deficit. However, revenue gap has no impact on debt burden.

Keywords: Revenue Gap, Economic Growth, Budget Deficit, Debt Burden

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Authors: Nükhet Konuk, N. Gamze Turan, Yüksel Ardalı

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Cities play a vital role in the social fabric of countries and in national and regional economic growth worldwide; however, the environmental effects of such growth need to be assessed and managed better. The critical and most immediate problems faced by cities of developing countries are the health impacts of urban pollution that derive from inadequate water, sanitation, drainage and solid waste services, poor urban and industrial waste management, and air pollution. As globalization continues, earth's natural processes transform local problems into international issues. The aim of this study is to provide a broad overview of the pollution from urban wastes and emissions in Turkey which is a developing country. It is aimed to underline the significance of reorganizing the institutional tools in a worldwide perspective in order to generate coherent solutions to urban problems, and to enhance urban quality.

Keywords: Environmental pollution, developing countries, environmental degradation, urban environmental problems.

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Authors: P. Waiyawuththanapoom

Abstract:

This research is objected to study the pattern and channel of distribution of Ang Thong’s court doll OTOP product and try to develop the quality of distribution of the court doll product. The population of this research is 50 court doll manufacturers of Ang Thong’s court doll. The data and information was collected by using the questionnaire and use percentage, mean and standard deviation as an analysis tools. The distribution channel of Ang Thong’s court doll can be separated into 3 channels which are direct distribution from the manufacturer, via the middleman and via the co-operated manufacturing group. In the direct distribution from the manufacturer channel, it was found that the manufacturer is given the highest rate of importance to how they keep the inventory. In the distribution via the middleman channel, it was found that the manufacturer is given the highest rate of importance to the distribution efficiency. But in the distribution via the co-operated manufacturing group, it was found that the manufacturer is given the highest rate of importance to the public relationship.

Keywords: Distribution, Court Doll, Ang Thong Province.

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Authors: Akhmetbekova Akbota

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The article considers religious aspects of Kazakh society pre-Soviet times. Studying the mental, political and spiritual content of Islam, the reasons for its wide distribution among the ancestors of the Kazakhs is analyzed. Interested Russians since the accession of the Kazakh Khanate to the Russian Empire more than once pointed out that Islam is a synthesis of Islam and Shamanism. But shamanism is a generalization of the name of religion, which took place prior to Islam in the land of the Kazakh people. Here we can see the elements of Zoroastrianism, Tengrianism, etc. This shows that the ancestors of the Kazakhs - Turkic people - not renounced the ancient beliefs completely and leave some portion of these religions as an integral part of the worldview of the people, by the device. Therefore, the founder of the Turkic Sufi Yasaui still has a huge impact on the religiosity of the Kazakhs. He managed elements of the ancient religion, which formed the basis of the Kazakhs world, interpreted in the Muslim perspective. The Russian authorities tried to quell by Islamization Kazakh people. But it was Islam that has revived the national consciousness of the Kazakh people.

Keywords: Adaptation, Islam, Kazakh people, Shamanism, Sufism.

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Authors: Hsin-Yi Lien

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The study explored the role of metacognition in foreign language anxiety on a sample of 411 Taiwanese students of English as a Foreign Language. The reading strategy inventory was employed to evaluate the tertiary learners’ level of metacognitive awareness and a semi-structured background questionnaire was also used to examine the learners’ perceptions of their English proficiency and satisfaction of their current English learning. In addition, gender and academic level differences in employment of reading strategies were investigated. The results showed the frequency of reading strategy use increase slightly along with academic years and males and females actually employ different reading strategies. The EFL tertiary learners in the present study utilized cognitive strategies more frequently than metacognitive strategies or support strategies. Male students use metacognitive strategy more often while female students use cognitive and support strategy more frequently.

Keywords: Cognitive strategy, gender differences, metacognitive strategy, support strategy.

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Authors: Elias O. Tembe, Hussain A. Al-Salamin

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There is decagram of strategic decisions of operations and production/service management (POSM) within operational research (OR) which must collate, namely: design, inventory, quality, location, process and capacity, layout, scheduling, maintain ace, and supply chain. This paper presents an architectural configuration conceptual framework of a decagram of sets decisions in a form of mathematical complete graph and abelian graph. Mathematically, a complete graph is undirected (UDG), and directed (DG) a relationship where every pair of vertices is connected, collated, confluent, and holomorphic. There has not been any study conducted which, however, prioritizes the holomorphic sets which of POMS within OR field of study. The study utilizes OR structured technique known as The Analytic Hierarchy Process (AHP) analysis for organizing, sorting and prioritizing(ranking) the sets within the decagram of POMS according to their attribution (propensity), and provides an analysis how the prioritization has real-world application within the 21st century.

Keywords: AHP analysis, Decagram, Decagon, Holomorphic.

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Authors: Daniel F. Garcia, Diego Gonzalez

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This paper shows a simple and effective approach to the design and implementation of Industrial Information Systems (IIS) oriented to control the characteristics of each individual product manufactured in a production line and also their manufacturing conditions. The particular products considered in this work are large steel strips that are coiled just after their manufacturing. However, the approach is directly applicable to coiled strips in other industries, like paper, textile, aluminum, etc. These IIS provide very detailed information of each manufactured product, which complement the general information managed by the ERP system of the production line. In spite of the high importance of this type of IIS to guarantee and improve the quality of the products manufactured in many industries, there are very few works about them in the technical literature. For this reason, this paper represents an important contribution to the development of this type of IIS, providing guidelines for their design, implementation and exploitation.

Keywords: Data storage, industrial information systems, measurement systems integration, signal acquisition.

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Authors: Ahmed Mohsen, Yoshinobu Kitamura, Katsuyuki Shimizu

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The improvement of irrigation systems in the Nile Delta is one of the most important attempts in Egypt to implement more effective irrigation technology by improving the existing irrigation networks. Demand delivery system in the existing irrigation network is using of mechanical gates structures to automatically divert water from one portion of an agricultural field to another in the desired amount and sequence. This paper discusses evaluating main irrigation networks system under the government managed before and after improvement systems in the Nile Delta. The overall results indicate that policy of using the demand delivery concept through irrigation networks is successful by improving water delivery performance among them than the rotation delivery concept that used before. It is provided fair share of water delivery among irrigation districts and available water in the end of irrigation network, although this system located in an end of irrigation networks in the Nile Delta.

Keywords: Automation system, Irrigation district, Rotation system, Water delivery performance

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Authors: Rosina C. Chia, Elmer Poe, Karl L. Wuensch

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A virtual collaborative classroom was created at East Carolina University, using videoconference technology via regular internet to bring students from 18 different countries, 2 at a time, to the ECU classroom in real time to learn about each other-s culture. Students from two countries are partnered one on one, they meet for 4-5 weeks, and submit a joint paper. Then the same process is repeated for two other countries. Lectures and student discussions are managed with pre-determined topics and questions. Classes are conducted in English and reading assignments are placed on the website. Administratively all partners are independent, students pay fees and get credits at their home institution. Familiarity with technology, knowledge in cultural understanding and attitude change were assessed, only attitude changes are reported in this paper. After taking this course, all students stated their comfort level in working with, and their desire to interact with, culturally different others grew stronger and their xenophobia and isolationist attitudes decreased.

Keywords: Attitude change, interactive cultural learning, multicultural education, real time virtual learning.

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Authors: S. Hma Salah, H. Du, N. Al-Jawad

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Ethnicity identification of face images is of interest in many areas of application, but existing methods are few and limited. This paper presents a fusion scheme that uses block-based uniform local binary patterns and Haar wavelet transform to combine local and global features. In particular, the LL subband coefficients of the whole face are fused with the histograms of uniform local binary patterns from block partitions of the face. We applied the principal component analysis on the fused features and managed to reduce the dimensionality of the feature space from 536 down to around 15 without sacrificing too much accuracy. We have conducted a number of preliminary experiments using a collection of 746 subject face images. The test results show good accuracy and demonstrate the potential of fusing global and local features. The fusion approach is robust, making it easy to further improve the identification at both feature and score levels.

Keywords: Ethnicity identification, fusion, local binary patterns, wavelet.

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Authors: Amanda Abbott-Jones

Abstract:

Adult students with dyslexia in higher education can receive support for their cognitive needs but may also experience negative emotion such as anxiety due to their dyslexia in connection with their studies. This paper aims to test the hypothesis that adult dyslexic learners have a higher prevalence of academic and social anxiety than their non-dyslexic peers. A quantitative approach was used to measure differences in academic and social anxiety between 102 students with a formal diagnosis of dyslexia compared to 72 students with no history of learning difficulties. Academic and social anxiety was measured in a questionnaire based on the State-Trait Anxiety Inventory. Findings showed that dyslexic students showed statistically significant higher levels of academic, but not social anxiety in comparison to the non-dyslexic sample. Dyslexic students in higher education show academic anxiety levels that are well above what is shown by students without dyslexia. The implications of this for the dyslexia practitioner is that delivery of strategies to deal with anxiety should be seen equally as important, if not more so, than interventions to deal with cognitive difficulties.

Keywords: Academic, anxiety, dyslexia, quantitative, students, university.

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Authors: Tomas Duranik, Juraj Ruzbarsky, Markus Stopper

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CONWIP (constant work-in-process) as a pull production system have been widely studied by researchers to date. The CONWIP pull production system is an alternative to pure push and pure pull production systems. It lowers and controls inventory levels which make the throughput better, reduces production lead time, delivery reliability and utilization of work. In this article a CONWIP pull production system was simulated. It was simulated push and pull planning system. To compare these systems via a production planning system (PPS) game were adjusted parameters of each production planning system. The main target was to reduce the total WIP and achieve throughput and delivery reliability to minimum values. Data was recorded and evaluated. A future state was made for real production of plastic components and the setup of the two indicators with CONWIP pull production system which can greatly help the company to be more competitive on the market.

Keywords: CONWIP, constant work in process, delivery reliability, hybrid production planning, PPS.

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Authors: Gerard E. Sleefe

Abstract:

There is significant interest in achieving technology innovation through new product development activities. It is recognized, however, that traditional project management practices focused only on performance, cost, and schedule attributes, can often lead to risk mitigation strategies that limit new technology innovation. In this paper, a new approach is proposed for formally managing and quantifying technology innovation. This approach uses a risk-based framework that simultaneously optimizes innovation attributes along with traditional project management and system engineering attributes. To demonstrate the efficacy of the new riskbased approach, a comprehensive product development experiment was conducted. This experiment simultaneously managed the innovation risks and the product delivery risks through the proposed risk-based framework. Quantitative metrics for technology innovation were tracked and the experimental results indicate that the risk-based approach can simultaneously achieve both project deliverable and innovation objectives.

Keywords: innovation, risk assessment, product development, technology management.

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Authors: F. S. Eguakun, T. C. Nkwor

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Trees in the university environment are uniquely position; however, they can also present a millstone to the infrastructure and humans they coexist with. The numerous benefits of trees can be negated due to poor tree health and anthropogenic activities and as such can become hazardous. The study aims at evaluating the hazardous status of avenue trees in University of Port Harcourt. Data were collected from all the avenue trees within the selected major roads in the University. Tree growth variables were measured and health condition of the avenue trees were assessed as an indicator of some structural defects. The hazard status of the avenue trees was determined. Several tree species were used as avenue trees in the University however, Azadirachta indica (81%) was found to be most abundant. The result shows that only 0.3% avenue tree species was found to pose severe harzard in Abuja part of the University. Most avenue trees (55.2%) were rated as medium hazard status. Due to the danger and risk associated with hazardous trees, the study recommends that good and effective management strategies be implemented so as to prevent future damages from trees with small or medium hazard status.

Keywords: Avenue tree, hazard status, inventory, urban.

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Authors: Marília Guterres Ferreira, Raul Sidnei Wazlawick

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As seen in literature, about 70% of the improvement initiatives fail, and a significant number do not even get started. This paper analyses the problem of failing initiatives on Software Process Improvement (SPI), and proposes good practices supported by motivational tools that can help minimizing failures. It elaborates on the hypothesis that human factors are poorly addressed by deployers, especially because implementation guides usually emphasize only technical factors. This research was conducted with SPI deployers and analyses 32 SPI initiatives. The results indicate that although human factors are not commonly highlighted in guidelines, the successful initiatives usually address human factors implicitly. This research shows that practices based on human factors indeed perform a crucial role on successful implantations of SPI, proposes change management as a theoretical framework to introduce those practices in the SPI context and suggests some motivational tools based on SPI deployers experience to support it.

Keywords: Change management, human factors, motivation, software process improvement.

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Authors: Alejandra Rodríguez Villalobos, Michael Padilla-Mora, Jaime Fornaguera Trías

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Remarkable changes, like the progress in the ability to understand others' minds, can be identified in several socio-cognitive dimensions between age four and seven. Recently, the parenting attitudes have been considerate as one of the potential extrinsic modifiers of these important developmental aspects. The aim of present study is to explore the relationship among authoritarian parenting attitudes and individual differences in Theory of Mind performance. The study included ninety-two Costarrican preschoolers. Six False-belief tasks, an Advanced Theory of Mind test and the Parenting Attitudes Inventory were used. The results demonstrate that participants with high and low Authoritarian Parenting Received differ in their performance on First and Second Order False-belief tasks, but not in Advanced Theory of Mind tasks. Theoretical considerations about possible explanations regarding these results are discussed and methodological limitations are considered to shed light over future directions.

Keywords: Authoritarian parenting, cognitive development, false- belief, individual differences, theory of mind, parenting.

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Authors: M. H. Yee, J. Md Yunos, W. Othman, R. Hassan, T. K. Tee, M. M. Mohamad

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The generation of an idea that goes through several  phases is affected by individual factors, interests, preferences and  motivation. The purpose of this research was to analyze the  difference in difficulties of generating ideas according to individual  learning styles. A total of 375 technical students from four technical  universities in Malaysia were randomly selected as samples. The  Kolb Learning Styles Inventory and a set of developed questionnaires  were used in this research. The results showed that the most dominant  learning style among technical students is Doer. A total of 319  (85.1%) technical students faced difficulties in solving individual  assignments. Most of the problem faced by technical students is the  difficulty of generating ideas for solving individual assignments.  There was no significant difference in difficulties of generating ideas  according to students’ learning styles. Therefore, students need to  learn higher order thinking skills enabling students to generate ideas  and consequently complete assignments.

 

Keywords: Difference, difficulties, generating idea, learning styles.

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Authors: Maha Idrissi Aouad, Rene Schott, Olivier Zendra

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Reducing energy consumption of embedded systems requires careful memory management. It has been shown that Scratch- Pad Memories (SPMs) are low size, low cost, efficient (i.e. energy saving) data structures directly managed at the software level. In this paper, the focus is on heuristic methods for SPMs management. A method is efficient if the number of accesses to SPM is as large as possible and if all available space (i.e. bits) is used. A Tabu Search (TS) approach for memory management is proposed which is, to the best of our knowledge, a new original alternative to the best known existing heuristic (BEH). In fact, experimentations performed on benchmarks show that the Tabu Search method is as efficient as BEH (in terms of energy consumption) but BEH requires a sorting which can be computationally expensive for a large amount of data. TS is easy to implement and since no sorting is necessary, unlike BEH, the corresponding sorting time is saved. In addition to that, in a dynamic perspective where the maximum capacity of the SPM is not known in advance, the TS heuristic will perform better than BEH.

Keywords: Energy consumption, memory allocation management, optimization, tabu search heuristic.

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Authors: Gurmeet Kaur, Jyoti Pruthi

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Agile Software development approaches and techniques are being considered as efficient, effective, and popular methods to the development of software. Agile software developments are useful for developing high-quality software that completes client requirements with zero defects, and in short delivery period. In agile software development methodology, quality is related to coding, which means quality, is managed through the use of approaches like refactoring, pair programming, test-driven development, behavior-driven development, acceptance test-driven development, and demand-driven development. The quality of software is measured using metrics like the number of defects during the development and improvement of the software. Usage of the above-mentioned methods or approaches reduces the possibilities of defects in developed software, and hence improves quality. This paper focuses on the study of agile-based quality methods or approaches for software development that ensures improved quality of software as well as reduced cost, and customer satisfaction.

Keywords: Agile software development, ASD, Acceptance test-driven development, ATDD, Behavior-driven development, BDD, Demand-driven development. DDD, Test-driven development, TDD.

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Authors: F. Gökgöz, M. E. Atmaca

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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.

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Authors: Beata Czarnacka-Chrobot

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Execution of Business Software Systems (BSS) Development and Enhancement Projects (D&EP) is characterized by the exceptionally low effectiveness, leading to considerable financial losses. The general reason for low effectiveness of such projects is that they are inappropriately managed. One of the factors of proper BSS D&EP management is suitable (reliable and objective) method of project work effort estimation since this is what determines correct estimation of its major attributes: project cost and duration. BSS D&EP is usually considered to be accomplished effectively if product of a planned functionality is delivered without cost and time overrun. The goal of this paper is to prove that choosing approach to the BSS D&EP work effort estimation has a considerable influence on the effectiveness of such projects execution.

Keywords: Business software systems, development and enhancement projects, effectiveness, work effort estimation methods, software product size, software product functionality, project duration, project cost.

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Authors: S. R. De Oliveira, A. De Almeida, I. M. Dal Fabbro

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Residues are produced in all stages of human activities in terms of composition and volume which vary according to consumption practices and to production methods. Forms of significant harm to the environment are associated to volume of generated material as well as to improper disposal of solid wastes, whose negative effects are noticed more frequently in the long term. The solution to this problem constitutes a challenge to the government, industry and society, because they involve economic, social, environmental and, especially, awareness of the population in general. The main concerns are focused on the impact it can have on human health and on the environment (soil, water, air and sights). The hazardous waste produced mainly by industry, are particularly worrisome because, when improperly managed, they become a serious threat to the environment. In view of this issue, this study aimed to evaluate the management system of solid waste of a coprocessing industrial waste company, to propose improvements to the rejects generation management in a specific step of the Blending production process.

Keywords: Blending, environment, industrial residues.

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Authors: Tanit P ruktara

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This research aims to study the preferable tourism and the elements of choosing tourist destination from domestic tourist in Bangkok and the nearby areas in Thailand.The data were collected by using 1249 set of questionnaires, in mid-August 2012. The result illustrates that religious destinations are the most preferable places for the tourist. The average expense per travel is approximately 47 USD a time. Travellers travel based on the advertisement in the television and internet and their decisions is based on the reputation of the destinations. The result on a place dimension demonstrates the neatness and well managed location play a crucial role on tourist destination. Gender, age, marriage status and their origins are affecting their spending and travelling behaviour. The researcher reckon that providing the area of arcade, selling the souvenir and promoting tourism among a young professional group would be an important key follow the income distribution policy, including managing the destination to welcome the family group, which the result is to identified as the highest spending.

Keywords: Domestic Tourist, Tourism, Tourist Behaviours, Tourism Place.

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Authors: Tahvilian R., Siahi Shadbad MR., Hamishehkar H., Aghababa Gharehbagh V.

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Nowadays pharmaceutical care departments located in hospitals are amongst the important pillars of the healthcare system. The aim of this study was to evaluate quality of hospital drugstores affiliated with Kermanshah University of Medical Sciences. In this cross-sectional study a validated questionnaire was used. The questionnaire was filled in by the one of the researchers in all seventeen hospital drugstores located in the teaching and nonteaching hospitals affiliated with Kermanshah University of Medical Sciences. The results shows that in observed hospitals,24% of pharmacy environments, 25% of pharmacy store and storage conditions, 49% of storage procedure, 25% of ordering drugs and supplies, 73% of receiving supplies (proper procedure are fallowed for receiving supplies), 35% of receiving supplies (prompt action taken if deterioration of drugs received is suspected), 23.35% of drugs delivery to patients and finally 0% of stock cards are used for proper inventory control have full compliance with standards.

Keywords: Hospital pharmacy standards, Kermanshah, pharmacy management

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Authors: M. Palanivel, R. Uthayakumar

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In this paper, Economic Order Quantity (EOQ) based model for non-instantaneous Weibull distribution deteriorating items with power demand pattern is presented. In this model, the holding cost per unit of the item per unit time is assumed to be an increasing linear function of time spent in storage. Here the retailer is allowed a trade-credit offer by the supplier to buy more items. Also in this model, shortages are allowed and partially backlogged. The backlogging rate is dependent on the waiting time for the next replenishment. This model aids in minimizing the total inventory cost by finding the optimal time interval and finding the optimal order quantity. The optimal solution of the model is illustrated with the help of numerical examples. Finally sensitivity analysis and graphical representations are given to demonstrate the model.

Keywords: Power demand pattern, Partial backlogging, Time dependent holding cost, Trade credit, Weibull deterioration.

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Authors: Kazuki Abe, Myungryun Yoo, Takanori Yokoyama

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Tasks of an application program of an embedded system are managed by the scheduler of a real-time operating system (RTOS). Most RTOSs adopt just fixed priority scheduling, which is not optimal in all cases. Some applications require earliest deadline first (EDF) scheduling, which is an optimal scheduling algorithm. In order to develop an efficient real-time embedded system, the scheduling algorithm of the RTOS should be selectable. The paper presents a method to customize the scheduler using aspectoriented programming. We define aspects to replace the fixed priority scheduling mechanism of an OSEK OS with an EDF scheduling mechanism. By using the aspects, we can customize the scheduler without modifying the original source code. We have applied the aspects to an OSEK OS and get a customized operating system with EDF scheduling. The evaluation results show that the overhead of aspect-oriented programming is small enough.

Keywords: aspect-oriented programming, embedded system, operating system, real-time system

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Authors: F. Gökgöz, M. E. Atmaca

Abstract:

Electricity has an indispensable role in human daily life, technological development and economy. It is a special product or service that should be instantaneously generated and consumed. Sources of the world are limited so that effective and efficient use of them is very important not only for human life and environment but also for technological and economic development. Competitive electricity market is one of the important way that provides suitable platform for effective and efficient use of electricity. Besides benefits, it brings along some risks that should be carefully managed by a market player like Electricity Generation Company. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Value at Risk methods for case studies. Performance of optimal electricity sale solutions are measured and the portfolio performance has been evaluated via Sharpe-Ratio, and compared with conventional approach. Biennial historical electricity price data of Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: Electricity market, portfolio optimization, risk management, Sharpe ratio, value at risk.

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Authors: M. Takhtravanchi, C. Pathirage

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In the construction industry, project members are conveyor of project knowledge which is, often, not managed properly to be used in future projects. As construction projects are temporary and unique, project members are willing to be recruited once a project is completed. Therefore, poor management of knowledge across construction projects will lead to a considerable amount of knowledge loss; the ignoring of which would be detrimental to project performance. This issue is more prominent in projects undertaken through the traditional procurement system, as this system does not incentives project members for integration. Thus, disputes exist between the design and construction phases based on the poor management of knowledge between those two phases. This paper aims to highlight the challenges of the knowledge management that exists within the traditional procurement system. Expert interviews were conducted and challenges were identified and analysed by the Interpretive Structural Modelling (ISM) approach in order to summarise the relationships among them. Two identified key challenges are the Culture of an Organisation and Knowledge Management Policies. A knowledge of the challenges and their relationships will help project manager and stakeholders to have a better understanding of the importance of knowledge management.

Keywords: Challenges, construction industry, knowledge management, traditional procurement system.

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