• IE interfaces
• /
• v.22 no.2
• /
• pp.165-173
• /
• 2009

This paper considers a two-component assembly system that makes different types of purchasing contracts by component type and studies the issue of coordinating those contracts. Acquisition of type 1 component is based on the long-term contract. In contrast, type 2 component is intermittently purchased under the sort-term contract. We identify the structural properties of the optimal short-term contract and investigate how the changes in system parameters affect the optimal performance. To provide managerial insights, we compare the short-term and long-term contracts for type 2 component and discuss the conditions that make the short-term contract preferable to the long-term contract. We also present a result which shows that coordinating the contracts of type 1 and type 2 components can be significantly profitable over uncoordinating them.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.50
• /
• pp.3-25
• /
• 2011

The purpose of this paper is to examine the use of LD Clause against the seller's breach of contract in connection with delivering the goods in the international sales contract, and international guarantee system using standby L/C or demand guarantee. For this purpose, the author, first, considered the outline of the buyer's remedies in cases that the seller had not performed his obligations in contract and the difficulties in the buyer's remedies. As alternatives for overcoming the difficulties, this author recommended the LD Clauses (Liquidated Damage Clauses) based on ICC Model International Sales Contract, and explained each Model Clause. To enhance the feasibility of LD Clause, this author suggested the guarantee system, like the standby L/C or demand guarantee. But these guarantee systems have several limitations in practical use. Thus, these guarantee systems would greatly contribute to Korean exportation in the future. The reason is that the Korean export structure would be more complex and the period of sales contract would be longer and longer, which result to in long-terms supply contracts. These changes would require the guarantee much urgently.

• Management Science and Financial Engineering
• /
• v.11 no.2
• /
• pp.1-17
• /
• 2005

In this article we consider a supply chain consisting of a risk-sensitive manufacturer and a riskneutral retailer. The manufacturer maximizes her individual expected profit by designing a supply chain coordinating returns contract (SCRC) that consists of (i) a channel coordinating returns policy that maximizes the supply chain joint expected profit, and (ii) a profit sharing arrangement that gives the retailer an expected profit only slightly higher than that in the no returns case so that it is just enough to induce the retailer to accept the SCRC. Thus, the manufacturer captures as high a percentage as possible of the jointly maximum supply chain profit. However, this contract can sometimes lead to the manufacturer's resulting realized profit being lower than that in the no returns case when demand is lower than expected. In this context, even though profit is sufficiently attractive on average, will the risk-sensitive manufacturer ever consider applying a SCRC? Our research raises this question and focuses on designing a SCRC that can significantly increase the probability of the manufacturer's resulting realized profit being at least higher than that in the no returns case.

• Journal of Korea Water Resources Association
• /
• v.38 no.1
• /
• pp.25-35
• /
• 2005

Nowaday the amount of water resource to generate the hydro-power energy has decreased as that of the water supply has increased. In case that the national market of the energy will be in free competition, the energy producer need to suggest the amount of the optimal supply with the hydrological reliability for a deal. In this study the optimal reservoir operation was performed by the linear programming and the optimal reliabilities of inflows and the power supply were obtained by the one dimensional search technique to estimate the energy with the optimal inflow reliability which the power system of the Yongdam multipurpose dam in Geum river can produce. And the main results were presented.

• Industrial Engineering and Management Systems
• /
• v.8 no.4
• /
• pp.213-220
• /
• 2009

A revenue sharing contract is one of the mechanisms that coordinate decision makers in a decentralized supply chain toward the consensual goal. The transfer prices between different echelons in the supply chain influence the total supply chain profits. The study aims to explore various transfer pricing heuristics on the supply chain coordination in terms of the supply chain profits and their interactions with the revenue sharing rate. A model is proposed for formulating the collaborative production and distribution planning in a decentralized supply chain with the revenue sharing mechanism. Experiment results indicate that the transfer price and the revenue sharing rate affect significantly the coordination. Among the studied pricing heuristics, the variable-cost pricing method led to the best SC profits. Raising the revenue sharing rate reduced the SC profits no matter what heuristics were employed. Furthermore, the experiments provide us clues for finding the optimal transfer price for the supply chain.

• Journal of the Korean Society of Systems Engineering
• /
• v.4 no.1
• /
• pp.31-34
• /
• 2008

As a supply contract for 100 new high-speed rolling stocks(KTX-II) was made 8th June 2006, System Engineering process has been applied to introduce the high-speed rolling stocks successfully and to manage the total life cycle systematically from Pre-concept Phase, Contract Phase, Preliminary and Critical Design Review, Production, Test and Verification, Acceptance and Operation to assurance for a flaw.

• The Journal of the Institute of Internet, Broadcasting and Communication
• /
• v.18 no.5
• /
• pp.259-265
• /
• 2018

As the supply method of products has become diverse and complex, problems such as manipulation of origin and product trace have occurred in the existing supply chain system. In order to deal with these issues, various Blockchain based studies have been actively carried in the SW industry and academy. However, there is a lack of comprehensive survey research on the applied Blockchain techniques, so that it hardly understand the pros and cons of the technologies. In this study, we intensively investigated the diverse studies from the Industrial and academic area based on the several criteria such as the goals, use of key Blockchain technologies, and IoT technologies.

• The Journal of Fisheries Business Administration
• /
• v.54 no.4
• /
• pp.47-64
• /
• 2023

The development potential of the aquaculture industry is very high, but there is no financial support for investment except for the government, policy funds, fishery funds, etc. Therefore, we would like to propose a contract transaction in the aquaculture industry. This refers to a forward contract between a producer (fish farmer) and a buyer (mainly a processor or marketer) that stipulates the production and supply of fish products at a predetermined price, but it also refers to an "equity participation type" contract in which both producers and buyers can participate. In other words, it is a model in which part of the fish farm is produced in a way that meets the conditions of the buyer, and part is produced by the producer. This study aims to establish the basic contract trading process. It provides an academic approach to prevent adverse selection and moral hazard due to information asymmetry. It also provides an idea to converge the aquaculture industry with the financial industry using Pecking Order theory. By doing so, we have made it possible for venture capitalists to invest with confidence and provided a process for investors to resolve their concerns, paving the way for the aquaculture industry and the financial industry to develop together.

• Journal of the military operations research society of Korea
• /
• v.37 no.1
• /
• pp.99-118
• /
• 2011

According to the National Contract Law, when determining Estimation cost Contract officers should consider contract quantity, contract period, supply and demand condition, difficulty of contract enforcement, terms and condition, and other various conditions based market price, costing based pricing, and appraisal. And they should not overestimate or underestimate the estimation cost. But the estimation cost system is used as preparedness for audit against the contract law. In this study, we identified the factors affecting estimation cost and analyzed their influence on estimation cost.

• Korea Trade Review
• /
• v.48 no.3
• /
• pp.243-262
• /
• 2023

This study provides a systematic review of smart trade contracts, examining the research trends and theoretical background of utilizing smart contracts and blockchain technology for the digitalization and automation of trade contracts. Smart trade contracts are a concept that applies the automated contract system based on blockchain to trade-related transactions. The study analyzes the technical and legal challenges and proposes solutions. The technical aspect covers the development of smart contract platforms, scalability and performance improvements of blockchain networks, and security and privacy concerns. The legal aspect addresses the legal enforceability of smart contracts, automatic execution of contract conditions, and the responsibilities and obligations of contract parties. Smart trade contracts have been found to have applications in various industries such as international trade, supply chain management, finance, insurance, and energy, contributing to the ease of trade finance, efficiency of supply chains, and business model innovation. However, challenges remain in terms of legal regulations, interaction with existing legal frameworks, and technological aspects. Further research is needed, including empirical studies, business model innovation, resolution of legal issues, security and privacy considerations, standardization and collaboration, and user experience studies to address these challenges and explore additional aspects of smart trade contracts.