• Journal of Korean Institute of Industrial Engineers
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• v.39 no.4
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• pp.233-238
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• 2013

This article concerns a profit model in a repair limit replacement problem with imperfect repair. If a system fails, we should decide whether we repair the failed system (repair option) or replace it by new one (replacement option with a lead time). We assume that repair times are random variables and can be estimated before repair with estimation error. If the estimated repair time is less than the specified limit (repair time limit), the failed unit is repaired but the unit after repair is different from the new one (imperfect repair). Otherwise, we order a new unit to replace the failed unit. The long run average profit (expected profit rate) is used as an optimization criterion and the optimal repair time limit maximizes the expected profit rate. Some special cases are derived.

• Journal of Korean Society for Quality Management
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• v.21 no.1
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• pp.144-151
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• 1993

This Paper shows a special case of the optimization criterion is to make the maximum profit in the system reliability of the k out of n open & close structure. Especially, the number of the optimal k is determined for the profit maximization in system reliability by deriving several properties of the optimal k out of n systems in one of four possible styles(closed & opened).

• Industrial Engineering and Management Systems
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• v.8 no.1
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• pp.1-13
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• 2009

This paper presents a coordinated planning model of price-dependent demand for a single-manufacturer and a single-retailer. The demand is assumed to be normally distributed, with its mean being price dependent. The manufacturer and retailer coordinate with each other to jointly and simultaneously determine the retail selling price and the retailer order quantity to maximize the joint expected total profit. This model is then compared to a 'returns' policy model where manufacturer buys back unsold items from the retailers. It is shown that the optimal total profit is higher for coordinated planning model than that for the returns policy model, in which the retail price is set by the retailer. A compensation or profit sharing scheme is then suggested and it is shown that the coordinated model with profit sharing yields a 'win-win' situation. Numerical results are presented to illustrate the profit patterns for both linear and nonlinear demand functions. The coordinated planning model, in addition, has a lower optimal price than for a returns policy model, which would result in higher sales, thus expanding the markets for the whole supply chain.

• Journal of Technology Innovation
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• v.6 no.2
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• pp.178-207
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• 1998

This article suggests a methodology to decide the priority of investment project for venture business under the dynamic circumstance. By the Monte Carlo procedure on the probability distribution of cost and revenue, the model simulates the investment project to estimate profit ratio and risk. The profit ratio is calculated on the yearly basis for the relative comparison. The project risk is calculated as semi-variance under the target yield. After sufficient simulations in this fashion for several projects, the efficient projects with more profit and less risk are selected by the dominance principle. Then the regression equation of the selected projects is produced to find the relative value of the projects. The relative value is obtained through dividing the raw profit ratio by the estimated one on the equation. This value shows the degree to which the simulated project yields over the equation. The priority of investment is decided by this value. An examplary venture business of chemical development for semi-conductor is presented as a case study.

• Journal of the Korean Institute of Navigation
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• v.5 no.2
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• pp.89-98
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• 1981

Presently, there are some means of voyage estimations such as Hire base, Charter base, and Anticpated income and expenditure statement of voyage. The former two are the means of estimation for profit of a ship's voyage per a deadweight tonnage adn a month, and it is well used in the case of chartered ships. But it is somewhat meaningless for the shpowner who runs his ships for himself. The latter means for estimation is mainly used in western shipping, and do not set forth simpler way of comparing profit with another voyage or with another ship's employing in other route. And this paper has yielded an index of ship's voyage profit evaluation by building a model of ship's voyage evaluation formula, and the index may be used in evaluation of the new investigation of shipping as well as setting out a shiop in a voyage. The model has yielded a break even curve which may be used for deciding the amount of demurrage and the period of ship's port time for a specific voyage contraction.

• Journal of Korean Clinical Health Science
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• v.3 no.1
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• pp.276-289
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• 2015

Purpose. To efficiently manage hospitals, this study aims to analyze the general characteristics, common-type balance sheet, common-type profit and loss statement and financial ratio of a tertiary general hospital and use the results as basic data for future hospital development by comprehending causes for problems and analyzing hospital management. Methods. By using information about a tertiary general hospital, located in A Metropolitan City, provided through Alio (www.alio.go.kr), a public organization information provider, Health Insurance Review & Assessment Service, and Ministry of Health and Welfare, this study used data during 3 years(2011 to 2013) by analyzing the general characteristics, common-type balance sheet, common-type profit and loss statement, industrial mean ratio and financial ratio of hospitals. Results. This study came to the following conclusions through the general characteristics, common-type balance sheet, common-type profit and loss statement, industrial mean ratio, financial ratio, circular chart and ROI by analyzing the data from 2011 to 2013. Conclusions. Overall, A Tertiary General Hospital showed an increase in fixed cost due to the construction of J Hospital and even in the size of capital and assets. It also showed an increase in medical profit, but the increase of its medical cost was higher, resulting in a financial loss. Especially, this hospital showed a slight decrease in net profit, featuring a reduction in inventory turnover. When the management of A Tertiary General Hospital was predicted based on such features, this hospital is expected to improve its profit structure through the opening of J Hospital, and it is necessary for this hospital to increase and sustain the turnover rate of inventories accumulated by managing them better.

• Journal of Intelligence and Information Systems
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• v.12 no.4
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• pp.109-126
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• 2006

An effective customer classification has been essential for the successful customer relationship management. The typical customer rating is carried out by the proportionally allocating the customers into classes in terms of their life time values. However, since this method does not accurately reflect the homogeneity within a class along with the heterogeneity between classes, there would be many problems incurred due to the misclassification. This paper suggests a new method of rating customer using Holistic profit technique, and validates the new method using the customer data provided by an insurance company. Holistic profit is one of the methods used for deciding the cutoff score in screening the loan application. By rating customers using the proposed techniques, insurance companies could effectively perform customer relationship management and diverse marketing activities.

• Journal of Industrial Convergence
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• v.1 no.2
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• pp.141-172
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• 2003

To enhance Social Welfare and Public Interests, government has been enforcing the policies that induce private Sector to participate in the Public Service. In general, these policies consist of the direct or indirect supporting systems, including the advantages of taxation applicable to Private Sector that takes part in Public Service. Of the various supporting systems taken by government, the privilege from the taxes is known to the most important supporting system. The representative exemple is the tax beduction of amounts donated to the not-for-profit organizations. That is to say that donations can be deductible from taxable amounts on assessing inheritance tax and gift tax. Generally much higher cumulative tax rates are applied to the laws of inheritance tax and gift tax than the other taxes in order to redistribute the social wealth and to restrain the concentration of the wealth. On the other hand, the special exemption from the taxes can be applied to not-for-profit organization according to the standards of the relevant lows and regulations, because not-for-profit organization usually performs the partial role of government in Public Service. The perpose of this study is to find the systematical support that the not-for-profit organizations can practice Public service more efficiently than government. This study approaches the subject by means of examining current taxation systems of inheritance tax law and gift tax law and developing systematic alternatives that can make inefficient parts in taxation systems more reasonable.

• Journal of the Korean Operations Research and Management Science Society
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• v.34 no.2
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• pp.77-90
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• 2009

Total profit level Increases if a company increase the cost for achieving R&D related goals of equipment productivity enhancement, production cost saving, or for achieving equipment scale target, sales volume goal. But how much money should be invested to achieve a certain level of profit? We formulated the model to set the optimal goal levels to minimize the investment cost under the constraint that certain level of total profit should be guaranteed. This model derived from a case of P steel company. We found that this should be considered in relation with the production sales planning (known as optimal product mix problem) to guarantee the profit. We suggested a nonlinear programming model, 3 valiant form of the p+roduct mix problem. We can find the optimal Investment level for the R&D related goals or sales volume goal, equipment scale target for the P steel company using the model.

• Journal of the Korea Society of Computer and Information
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• v.21 no.5
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• pp.161-166
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• 2016

This paper suggests heuristic algorithm with O(m) linear time complexity for choice of expansion projects that can't be obtain the optimal solution using linear programming until now. This algorithm ascending sort of net profit for all projects. Then, we apply a simple method that deletes the project with minimum net profit until this result satisfies the carried over for n-years more than zero value. While this algorithm using simple rule, not the linear programing fails but the proposed algorithm can be get the optimal solution for experimental data.