• Title/Summary/Keyword: Engineering Economic Decision

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A vision for the Welding Industry in the USA

  • Kim, Dong-Sub
    • Proceedings of the KWS Conference
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    • 2000.10a
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    • pp.13-18
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    • 2000
  • Welding is critical technique for the joining of materials in the nation's major Manufacturing industries. Since 1998, leaders in welding industry have defined a vision of the issues and opportunities that it will face in 2020. In developing this vision document, more than 25 senior managers and respected experts from various segments of the welding community met to begin a dialog about the future of the welding industry. They were brought together to develop a long-range business plan for their industry that would identify how it would meet the needs of manufacturers, of the marketplace, and of society in 2020. In essence, these decision makers created an ideal vision of the state of their industry in 20 years, and the strategy to reach it. Welding is a precise, reliable, and cost-effective, method for joining materials. No other technique is as widely used by manufacturers to join metals and alloys efficiently. Most of the familiar objects in modern society, form buildings and bridges, to vehicles, computers, and medical devices, could not be produced without the use of welding. Despite the importance of welding to the manufacturing industry, the leaders in this area felt that welding was not appreciated as much as it should be from the society. The welding industry consists of the “users” of welding techniques as well as the companies, universities and other organizations that industry look for improvements in their operations by 2020, and should find their interest addressed in this document. A major economic impact study co sponsored by AWS and EWI and supported by US Navy, State of Ohio, US Department of Commerce, and major companies was kicked off. This two-year study will determine the economic impact of welding on the United States economy. The objective of this study is to break a paradigm about welding-those of us who are heavily involved in welding, believe strongly that much of our gross domestic product is directly dependent on welding. Furthermore, continued advances in the field of welding are necessary to achieving further increases in productivity that makes our economy strong. Yet, despite intuition, anecdotal information, and fragmented analyses, the completing quantitative information that would proved the justification for strategic actions to further develop this critical field is not currently available.

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Country Image and Its Impacts on the Entry into the Medical Services Market in China (국가이미지가 중국의료시장 진출에 미치는 영향에 관한 연구)

  • Chang, Young-Il;Kim, Kyoung-Hwan
    • Korea Journal of Hospital Management
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    • v.12 no.4
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    • pp.45-67
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    • 2007
  • This study is focused on the medical services market in china which would be the largest one in the world sooner or later. An empirical research has been performed on the country images and related buying attitudes of the Chinese potential consumers for foreign medical services of more higher level. Upon the basis of this research results, the components of a country image has been restructured and the country image effects on the process of a purchasing decision of the advanced foreign medical services in China has been investigated and analyzed. This research shows that the forming process and the dimensions of a country image in Chinese consumers are rather simplified than the former researches of the same kind in any other countries. In China the expectation and buying intension for foreign medical services is found to be affected directly by a country image. Furthermore among various components of a country image the expected service quality level of the Chinese is found to be mostly dependent on the social stability and safety rather than on the degree of economic developments. Recently breaking through the domestic medical market crisis, more and more hospitals consider to advance into Chinese medical market. This research shows that the reexamination and political concerns on the country image of Korea are needed in the level of government's public relations. Especially the proactive policy making and propaganda of political, social and economic stability and safety in Korea are thought to be more important for successful entry in Chinese medical services market.

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Muti-Objective Design Optimization of Self-Compacting Concrete using CCD Experimental Design and Weighted Multiple Objectives Considering Cost-Effectiveness (비용효율을 고려한 자기 충전형 콘크리트의 CCD 실험설계법 및 가중 다목적성 기반 다목적설계최적화(MODO))

  • Do, Jeongyun
    • Journal of the Korea institute for structural maintenance and inspection
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    • v.24 no.3
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    • pp.26-38
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    • 2020
  • Mixture design of self-compacting concrete is a typical multi-criteria decision making problem and conventional mixture designs are based on the low level engineering method like trials and errors through iteration method to satisfy the various requirements. This study concerns with performing the straightforward multiobjective design optimization of economic SCC mixture considering relative importances of the various requirements and cost-effectives of SCC. Total five requirements of 28day compressive strength, filling ability, segregation stability, material cost and mass were taken into consideration to prepare the objective function to be formulated in form of the weighted-multiobjective mixture design optimization problem. Economic SCC mixture computational design can be given in a rational way which considering material costs and the relative importances of the requiremets and from the result of this study it is expected that the development of SCC mixtue computational design and the consequent univeral concrete material design optimization methodology can be advanced.

Assessment of Water Use Vulnerability Considering Climate and Socioeconomic Changes in Han River Watershed (기후 및 사회·경제 변화를 고려한 한강 유역의 물이용 취약성 평가)

  • Park, Hyesun;Kim, Heey Jin;Chae, Yeora;Kim, Yeonjoo
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.37 no.6
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    • pp.965-972
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    • 2017
  • Assessment of vulnerability of water use to climate change include a variety of climate change scenarios. However, in most future vulnerability studies, only the climate change scenarios are used and not the future scenarios of social and economic indicators. Therefore, in this study, we applied the Representative Concentration Pathway (RCP) climate change scenario and Shared Socioeconomic reference Pathway (SSP) developed by IPCC to reflect the future. We selected indicators for estimating the vulnerability of water use, and indices were integrated with a multi-criteria decision making approach - Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS). The indicator data utilized national statistics and reports, social and economic scenarios, and simulated results from the Soil and Water Assessment Tool (SWAT) model which reflects climate change scenario. Finally, we derived the rankings of water use vulnerability for the short-term future (2020) and mid-term future (2050) within the Han River watershed. Generally, considering climate change alone and considering climate change plus social and economic changes showed a similar spatial distribution. In the future scenarios, the watershed rankings were similar, but showed differences with SSP scenario in some watersheds. Therefore, considering social and economic changes is expected to contribute to more effective responses to climate change.

Optimal Size Determination of Flood Mitigation Facilities in a Watershed Using Geo-Spatial Information System and Economic Analysis: Focused on Dam Height Raise Project (지형공간정보체계와 경제성분석을 활용한 유역단위 홍수저감시설 규모결정 방안 연구 - 댐증고사업을 중심으로 -)

  • Choi, Cheon-Kyu;Kim, Gil-Ho;Yeo, Kyu-Dong;Shim, Myung-Pil;Choi, Yun-Seok
    • Journal of the Korean Association of Geographic Information Studies
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    • v.16 no.4
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    • pp.64-78
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    • 2013
  • To achieve economic efficiency in a basin flood mitigation planning, it is important to determine optimal sizes of investment alternatives. Investment alternative means decision proposals composed with one more individual proposals, and it is not easy to determine an optimal one because there are so many individual proposals. This study aims to propose the approach of determining the optimal project size for raising dam height. This study applies two scenarios to determine investment alternatives for the 4 dams in the Yeongsan River basin. 'Scenario1' calculates flood mitigation for each individual proposal. And 'Scenario2' calculates that for each investment alternative composed with one more individual proposals. As the results, 'Scenario2' is better than 'Scenario1' for selecting a economically optimal dam height considering watershed conditions comprehensively.

Management of Change in the Chemical Industries Based on Risk Assessment (위험성 평가에 기반한 화학산업의 변경관리)

  • Yoo, Jin Hwan;Lee, Heon Seok;Choi, Jeong Woo;Seo, Jae Min;Ko, Jae Wook
    • Korean Chemical Engineering Research
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    • v.46 no.1
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    • pp.156-163
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    • 2008
  • Process change and modification, which are caused by process failure, equipment life cycle and economic environment, have been generated in the chemical plants. And the MOC (management of change) base on the reasonable process safety technology such as change judgment, hazard identification by accurate technical references and risk assessment. But it is difficult to carry out the MOC because of lack of experience, shortage of knowledge and none of process safety specialists. In this study, the MOC system which could make enhancement of safety by finding and complementing weakness of MOC in chemical facilities was developed. This developed MOC system based on QRA was recommended the obvious standard for decision-making process, MOC procedure based on risk assessment and risk estimation of the process modification. The study based on the above way sought the enhancement of safety by performing Risk Based MOC for chemical plants.

QFD-Based Integrated Model of Dismantling Method Selection and FMEA Risk Assessment for Work Stage (QFD 기반의 해체공사 공법선정과 FMEA 위험성평가 통합 모델)

  • Lee, Hyung-Yong;Cho, Jae-Ho;Son, Bo-Sik;Chae, Myung-Jin;Kim, Hyun-Soo;Chun, Jae-Youl
    • Journal of the Korea Institute of Building Construction
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    • v.21 no.6
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    • pp.629-640
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    • 2021
  • According to statistics from the Ministry of Land, Infrastructure and Transport in 2018, approximately 37% of residential buildings in Korea need to be reconstructed. Due to the rapid growth of the demolition industry, many side effects such as environmental destruction and safety accidents are becoming a problem in the demolition of existing buildings. This study proposes a decision-making process for selecting the most suitable dismantling method for field application by comprehensively considering safety, economic feasibility, and environmental characteristics. In particular, field applicability is evaluated by evaluating risk factors for the selected method. To this end, this study proposes the TOPSIS method for the selection of the dismantling method using the QFD development concept, and the FMEA method as a continuous development process of the selected method.

Factors Clustering Approach to Parametric Cost Estimates And OLAP Driver

  • JaeHo, Cho;BoSik, Son;JaeYoul, Chun
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.707-716
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    • 2009
  • The role of cost modeller is to facilitate the design process by systematic application of cost factors so as to maintain a sensible and economic relationship between cost, quantity, utility and appearance which thus helps in achieving the client's requirements within an agreed budget. There are a number of research on cost estimates in the early design stage based on the improvement of accuracy or impact factors. It is common knowledge that cost estimates are undertaken progressively throughout the design stage and make use of the information that is available at each phase, through the related research up to now. In addition, Cost estimates in the early design stage shall analyze the information under the various kinds of precondition before reaching the more developed design because a design can be modified and changed in all process depending on clients' requirements. Parametric cost estimating models have been adopted to support decision making in a changeable environment, in the early design stage. These models are using a similar instance or a pattern of historical case to be constituted in project information, geographic design features, relevant data to quantity or cost, etc. OLAP technique analyzes a subject data by multi-dimensional points of view; it supports query, analysis, comparison of required information by diverse queries. OLAP's data structure matches well with multiview-analysis framework. Accordingly, this study implements multi-dimensional information system for case based quantity data related to design information that is utilizing OLAP's technology, and then analyzes impact factors of quantity by the design criteria or parameter of the same meaning. On the basis of given factors examined above, this study will generate the rules on quantity measure and produce resemblance class using clustering of data mining. These sorts of knowledge-base consist of a set of classified data as group patterns, of which will be appropriate stand on the parametric cost estimating method.

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Analysis of Radio Spectrum Charges based on Economic Value (주파수의 경제적 가치를 고려한 할당대가 산정기준 분석)

  • Jang, Hee-Seon;Yeo, Jae-Hyun;Lee, Kwang-Hee;Choi, Ki-Seok
    • Journal of Korean Institute of Industrial Engineers
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    • v.34 no.2
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    • pp.216-222
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    • 2008
  • The determination of spectrum charges for the operators is a main issue to efficiently manage the limited radio spectrum resources. In this paper, we propose a model to compute the optimal charges for radio spectrum usage. The objective is to determine that will maximize the spectrum charges, and decision variables of ratios for actual or estimated revenues are considered. The spectrum charges are maximized under satisfying the least profit for operators based on Log-Linear demand function. The parameters of actual sales and minimum profit of operators are analyzed to make an efficient management for radio spectrum. The results show that the spectrum charges increase as the actual sales increase, but it decrease as the required minimum profit of operator increases. It is also observed that the government should increase the ratio for estimated sales if anticipating the poor market in the future, otherwise they should increase the ratio for actual sales to maximize the spectrum charges.

An Empirical Study about the Influence of Country Personality and Product Involvement on Consumer's Purchase and Visit Intentions

  • Sousa, Ana;Nobre, Helena;Farhangmehr, Minoo
    • The Journal of Asian Finance, Economics and Business
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    • v.5 no.3
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    • pp.65-72
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    • 2018
  • The purpose of this paper is to understand the influence of country personality dimensions and product involvement on European consumers purchase and visit intentions, considering the Portuguese context. The increasing economic globalisation has resulted in the reducing of trade barriers between nations and the availability of more foreign products and services across borders. Therefore, the place associations of these products and services might be regarded as a potential competitive differentiator in their respective markets. Despite the proliferation of literature devoted to assessing the effects of country-of-origin, the symbolic dimension of a country's image remains understudied. A questionnaire measuring country personality dimensions, product involvement, and consumer's purchase and visit intention was passed on a sample of 335 European consumers. Country personality indeed matters both positively and negatively. Findings show that while assiduousness positively influences consumer's visit intentions, wickedness has a negative influence on consumer's purchase intentions. Findings also reveal that product involvement has a positive significant influence on consumer's purchase and visit intentions. On developing marketing strategies, international marketers and governmental decision-makers should consider product involvement attributes and specific country personality traits to provide the country's products with a competitive edge, as well as to promote the country as a travelling destination.