• Title/Summary/Keyword: Economic order quantity

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Activation Scheme of Mokpo New Port through a Priority Cargo Attraction Strategy (중점화물유치전략을 통한 목포신항 활성화 방안)

  • Choe, Dong-O
    • Journal of Korea Port Economic Association
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    • v.21 no.4
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    • pp.161-181
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    • 2005
  • This paper investigates the circumstances and conditions of Mokpo Port to develop it as an international logistics stronghold and seeks scheme to maximize the local economic ripple effect through construction and activation of Mokpo New Port. Under the circumstances in which neighboring ports vying with each other have built broad spheres of influence, and competition among ports becomes fierce, a priority cargo attraction strategy should be established by using Mokpo's favorable location compared to other ports in order to ensure that a large quantity of goods is transported from Mokpo New Port. Especially, Mokpo New Port needs to be developed as a vehicles-only exporting port, as well as a port for used car exports and an import port for stones and timber.

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Effectiveness Evaluation of Demand Forecasting Based Inventory Management Model for SME Manufacturing Factory (중소기업 제조공장의 수요예측 기반 재고관리 모델의 효용성 평가)

  • Kim, Jeong-A;Jeong, Jongpil;Lee, Tae-hyun;Bae, Sangmin
    • The Journal of the Institute of Internet, Broadcasting and Communication
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    • v.18 no.2
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    • pp.197-207
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    • 2018
  • SMEs manufacturing Factory, which are small-scale production systems of various types, mass-produce and sell products in order to meet customer needs. This means that the company has an excessive amount of material supply to reduce the loss due to lack of inventory and high inventory maintenance cost. And the products that fail to respond to the demand are piled up in the management warehouse, which is the reality that the storage cost is incurred. To overcome this problem, this paper uses ARIMA model, a time series analysis technique, to predict demand in terms of seasonal factors. In this way, demand forecasting model based on economic order quantity model was developed to prevent stock shortage risk. Simulation is carried out to evaluate the effectiveness of the development model and to demonstrate the effectiveness of the development model as applied to SMEs in the future.

Optimal Design of Batch-Storage Network with Finite Intermediate Storage (저장조 용량제약이 있는 회분식 공정-저장조 그물망 구조의 최적설계)

  • Kim, Hyung-Min;Kim, Kyoo-Nyun;Lee, Gyeong-Beom
    • Journal of Institute of Control, Robotics and Systems
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    • v.7 no.10
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    • pp.867-873
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    • 2001
  • The purpose of this study is to find analytic solution of determining the optimal capacity (lot-size) of multiproduct acyclic multistage production and inventory system to meet the finished product demand under the constraint of finite intermediate storage. Intermediate storage is a practical way to mitigate the material flow imbalance through the line of supply and demand chain. However, the cost of constructing and operating storage facilities is becoming substantial because of increasing land value, environmental and safety concern. Therefore, reasonable decision-making about the capacity of processes and storage units is an important subject for industries. The industrial solution for this subject is to use the classical economic lot sizing method, EOQ/EPQ(Economic Order Quantity/Economic Production Quantity) model, incorporated with practical experience. But EOQ/EPQ model is not suitable for the chemical plant design with highly interlinked processes and storage units because it is developed based on single product and single stage. This study overcomes the limitation of the classical lot sizing method. The superstructure of the plant consists of the network of serially and/or parallelly interlinked non-continuous processes and storage units. The processes transform a set of feedstock materials into another set of products with constant conversion factors. A novel production and inventory analysis method, PSW(Periodic Square Wave) model, is applied to describe the detail material flows among equipments. The objective function of this study is minimizing the total cost composed of setup and inventory holding cost. The advantage of PSW model comes from the fact that the model provides a set of simple analytic solutions in spite of realistic description of the material flows between processes and storage units. the resulting simple analytic solution can greatly enhance the proper and quick investment decision for the preliminary plant design problem confronted with economic situation.

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A Study on Evaluation Indicator of School Building (학교 건축물 평가지표 개발 연구)

  • Yoo, Taek-Dong;Cho, Jin-Il;Kim, Sung-Jung;Cho, Kyung-Suk
    • The Journal of Sustainable Design and Educational Environment Research
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    • v.5 no.2
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    • pp.31-52
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    • 2006
  • It presented the specialty and efficient evaluation indicator and a method which corresponds in each quality classified with 4 fields - an use and the function, the environment and an equipment, the structure stability, an main finishing material from plan side against an existing school facility in order to suit in development of the standard indicator which has become fixed quantity and demand of evaluation method for an analysis of the object school facilities to rebuild. So it presented the method which is the fixed quantity evaluation from economic viewpoint as possible for evaluating the maintenance cost by the expenses involved and durable years increase in rebuilding of objective school facility.

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An improved Ordering and Recovery Policy for Reusable Items (재활용품 제고시스템에 대한 주문 및 재생정책의 개선방안)

  • Jung, Jin-A;Koh, Shie-Gheun
    • Journal of Korean Institute of Industrial Engineers
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    • v.34 no.1
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    • pp.32-41
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    • 2008
  • This paper studies a joint EOQ and EPQ model in which a stationary demand can be satisfied by recycled products as well as newly purchased products. The model assumes that a fixed quantity of the used products are collected from customers and later recovered for reuse. The recovered products are regarded as perfectly new ones. We also assume that the number of orders for newly purchasing items and the number of recovery setups in a cycle can be mutually independent integers. Under these assumptions, we develop an optimization model obtaining the economic order quantity for newly procured products, the optimal lot size for the recovery process, and the sequence of the orders and the setups, simultaneously. And then a simple solution procedure to find a local optimal control parameter set is proposed. To validate the model and the solution procedure, finally, some computational experiments are presented.

Effect by reinforcement wall position for apartment remodeling (아파트 리모델링을 위한 보강벽체 위치에 따른 영향)

  • Jung, Woo-Kyung;Hong, Geon-Ho;Song, Jin-Gyu
    • Proceedings of the Korea Concrete Institute Conference
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    • 2006.05a
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    • pp.354-357
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    • 2006
  • Recently, remodeling of the reinforced concrete apartment became hot issue of the housing policy in Korea. In Korea, the seismic design regulation has been revised since it was established in 1988 first, in order to minimize the economic losses. It has studied that the apartments that built in 1980's and their new remodeling for seismic performance. Also lateral displacement of remodeling analysis about variation of shear-wall for apartment on the architetural remodeling. Position change by wall quantity is state that study about efficient guide line about apartment wall quantity changed at remodeling because it is factor that can influence on motion of whole building is insufficient.

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Economic Evaluation of Potato Microtubers Using the Contingent Valuation Method (In the case of Chungnam Province) (임의가치법(任意價値法)(CVM)을 이용한 인공(人工)씨감자의 경제가치평가(經濟價値評價) (충청남도(忠淸南道)를 중심으로))

  • Hyeon, Byung-Hwan;Lim, Jae-Hwan
    • Korean Journal of Agricultural Science
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    • v.23 no.1
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    • pp.150-158
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    • 1996
  • The potato has been used as a part of key staple foods in Korea. Recently, the demand for the potato tends to increase due to its nutritional Quality, and the Quantity of imports has rapidly been increasing. Contamination of seed potato by pathogens especially could cause a severe reduction of total production. In order to solve the problem, Korea Research Insistute of Bioscience and Biotechnology(KBIBB) developed the new commodity called a "potato microtuber". Before its production and distribution, researches on new commodity should be undertaken in many aspects, especially in terms of economic aspects. The main objectives of this study are to measure the economic value of the potato microtubers and to forecast its spreading effects and to examine the Contingent Valuation Method(CVM) could be accepted in the economic analysis for a new agricultural product, here in potato microtubers. Through the regression results, the consumer behavior analysis had performed for potential users of potato microtubers, and through the demand function derived by the consequence of functional relationship, consumer's surplus was estimated.

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Differentiation of the Startups Jobs and Their Qualities in Local Labour Market Areas in Korea (지역노동시장권별 창업에 의한 일자리 창출 격차 및 일자리 질 비교)

  • An, Eunkyung;Lee, Hee Yeon
    • Journal of the Economic Geographical Society of Korea
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    • v.18 no.2
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    • pp.168-189
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    • 2015
  • The job creation has been the most pressing issue after financial crisis in many countries around the world. Various policies for creating jobs have been implemented in order to revitalize regional economy in Korea. It has been known that the jobs have been created more in low-wage and part-time work than high-wage and full-time work. The purpose of this study is to analyze the differentiation of startups job in local labor market areas(LLMAs) in terms of job quantity as well as job quality. As the spatial unit, 121 local labor market areas which were delineated based on self-containment rate(demand and supply side of labor market) and numbers of resident workers are used. Also due to difference of the size of employment, LLMAs are classified into 3 groups: large, Medium, small LLMAs. The major results are as follows: First, the characteristics of the job creation are varied among 3 groups in terms of the quantitative and qualitative aspects. Highly waged and highly value-added jobs have been created more in large LLMAs, but full-time jobs created more in small LLMAs. Secondly, the job creation of LLMAs is somewhat weakly correlated to regional economic performance. While the quality of jobs is correlated to regional economic performance in Medium LLMAs, the quantity of jobs is significantly correlated to regional economic performance in small LLMAs. The results of this research give some implications for implementing the effective policy to create jobs related to regional economy, indicating that differentiated strategies for 3 groups of LLMAs is critically important.

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DATA MININING APPROACH TO PARAMETRIC COST ESTIMATE IN EARLY DESIGN STAGE AND ANALYTICAL CHARACTERIZATION ON OLAP (ON-LINE ANALYTICAL PROCESSING)

  • JaeHo Cho;HyunKyun Jung;JaeYoul Chun
    • International conference on construction engineering and project management
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    • 2011.02a
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    • pp.176-181
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    • 2011
  • A role of cost modeler is that of facilitating design process by the systematic application of cost factors so as to maintain sensible and economic relationships between cost, quantity, utility and appearance. These relationships help to achieve the client's requirements within an agreed budget. The purpose of this study is to develop a parametric cost estimating model for the early design stage by using the multi-dimensional system of OLAP (On-line Analytical Processing) based on the case of quantity data related to architectural design features. The parametric cost estimating models have been adopted to support decision making in the early design stage. These models typically use a similar instance or a pattern of historical case. In order to effectively use this type of data model, it is required to set data classification and prediction methods. One of the methods is to find the similar class in line with attribute selection measure in the multi-dimensional data model. Therefore, this research is to analyze the relevance attribute influenced by architectural design features with the subject of case-based quantity data used for the parametric cost estimating model. The relevance attributes can be analyzed by Analytical Characterization. It helps determine what attributes to be included in the OLAP multi-dimension.

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A Study of the Installation Process and Managing System of Economic Development District in China (중국 경제개발구의 설치와 운영시스템에 관한 연구)

  • 안재섭
    • Journal of the Economic Geographical Society of Korea
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    • v.5 no.1
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    • pp.89-104
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    • 2002
  • The purpose of this study is about the installation process and managing system of Economic Development District installed in order to make economic and local development by introducing foreign investment, technology and managing methods after the reformation of China. The Economic Development District of China is being continuously enlarged in its quantity and form as the local opening is being enlarged, and so that it is leading the systematic change of open district and is being developed as a core part of local economic growth. The central and local governments used to mediate and control the fostering of Economic Development Districts in their initial stage. However, the economic and business activities in Economic Development Districts are controlled by the capitalistic market forces now, and the control of central and local governments are being reduced to the minimum and the autonomy of the administrative commission is being reinforced for the efficiency of Economic Development District.

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