• Journal of the Korean Operations Research and Management Science Society
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• v.38 no.2
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• pp.95-115
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• 2013

In traditional inventory models, purchase prices of raw materials are assumed to be fixed and have no effect on the optimal choice of inventory policies. However, when purchase prices fluctuate continuously over time, inventory costs are heavily affected by purchasing prices. Risk-averse inventory model decides order quantity and ordering time by considering not just purchase prices but also the risk from the discrepancy between estimated prices and realized prices. In this paper, we propose a myopic inventory policy which incorporates price risk into deciding ordering time and quantities. While the existing risk-averse model has no mechanism to reallocate inventories already purchased for a specific future period, the revised one reallocates initial inventories of each period to other future periods so that it can avoid purchasing raw materials at high prices. Experimental results demonstrate that the revised model outperforms the existing one in respect of total cost and variability.

• Journal of the Korean Operations Research and Management Science Society
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• v.35 no.4
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• pp.33-53
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• 2010

When purchase prices of a raw material fluctuate over time, the total purchasing cost is mainly affected by reordering time. Existing researches focus on deciding the right time when the demand for each period is replenished at the lowest cost. However, the decision is based on expected future prices which usually turn out to include some error. This discrepancy between expected prices and actual prices deteriorates the performance of inventory models dealing with fluctuating purchase prices. In this paper, we propose a new inventory model which incorporates not only cost but also risk into making up a replenishment schedule to meet each period's demand. For each replenishment schedule, the risk is defined to be the variance of its total cost. By introducing the risk into the objective function, the variability of the total cost can be mitigated, and eventually more stable replenishment schedule will be obtained. According to experimental results from crude oil inventory management, the proposed model showed better performance over other models in respect of variability and cost.

• Proceedings of the Safety Management and Science Conference
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• 2009.11a
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• pp.203-208
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• 2009

Government and company are unfolding greenhouse gas reduction activity to prevent the effects of global warming. Also, verification business through greenhouse gas inventory construction is spreaded variously. Greenhouse gas verification proceeds by document examination, risk analysis, field survey. Document investigates emission information, calculation standard, emission report, data management system. And through risk assessment result, establish field verification plan. Through study on risk assessment of greenhouse gas inventory verification, wish to reduce risk of verification.

• Management Science and Financial Engineering
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• v.16 no.3
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• pp.21-47
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• 2010

Quantity discounts provide a practical foundation for supply chain inventory policies, improving the supplier's profit and reducing the buyer's inventory cost simultaneously. Traditional quantity-discount research, which deals with inventory coordination between a buyer and a supplier, is extended to a stationary stochastic environment. This research shows that the magnitude of the optimal discounts scheduled by the deterministic quantity discount models may not be large enough to cover the buyer's additional inventory stocking risks under uncertain conditions. As a result, the buyer's total inventory cost may often increase rather than decrease. In contrast, the proposed model allows the supplier to identify the discount level, which shares the buyer's amplified risk associated with temporary overstocking and ensures that both buyer and supplier benefit economically. The performance of the proposed model was tested in the continuous review environments via numerical experiments. The experimental results support the proposed method as a feasible alternative in coordinating inventory decisions under stochastic demand.

• Proceedings of the Safety Management and Science Conference
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• 2010.04a
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• pp.107-116
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• 2010

Government and company are unfolding greenhouse gas reduction activity to prevent the effects of global warming. Also, verification business through greenhouse gas inventory construction is spreaded variously. Greenhouse gas verification proceeds by document examination, risk analysis, field survey. Document investigates emission information, calculation standard, emission report, data management system. And through risk assessment result, establish field verification plan. Through study on risk assessment of greenhouse gas inventory verification, wish to reduce risk of verification.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.36 no.3
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• pp.43-50
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• 2013

In this paper, the single-period inventory problem, what is called newsboy problem, has been revisited with two different conditions, uncertain supply and risk-averseness. Eeckhoudt et al. [5] investigated the effect of risk-averseness of a newsboy on the optimal order quantity in a stochastic demand setting. In contrary to Eeckhoudt et al. [5] this paper investigates the effect of risk-averseness in a stochastic supply setting. The findings from this investigation say that if ${\alpha}^*$ represents the optimal order quantity without risk-averseness then the risk-averse optimal order quantity can be greater than ${\alpha}^*$ and can be less than ${\alpha}^*$ as well.

• The Journal of Engineering Geology
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• v.22 no.2
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• pp.223-231
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• 2012

Many cut slopes are located near national highways, resulting in large annual damage to infrastructure from the collapse of cut slopes. Therefore, to effectively maintain cut slopes, high-risk slopes should be identified and monitored. In this paper, we evaluate the effectiveness of the management of cut slopes using the risk score calculated from cut-slope inventory data. The inventory survey, as a simple assessment of the characteristics of various slopes, was performed to collect basic data that could be obtained visually in the field for the management of cut slopes. This method is not a precise survey, and it was composed of the general status and characteristics of cut slopes, the inspector's assessment, and inventory data in order to estimate a risk score for each slope. In this paper, we calculated the risk score by investigating the present status of cut slopes adjacent to 10,461 national roads. In order to evaluate the effectiveness of using risk score data, we compared the score for stable slopes with those of failed cut slopes. Failed cut slopes occurred in sections with the highest risk score. The results show that risk score derived from the inventory survey of cut slopes are useful in the management of cut slopes with risk of failure and in monitoring large numbers of cut slopes.

• Journal of the Korean Society of Safety
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• v.18 no.1
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• pp.56-63
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• 2003

During the last decade, effort has been made f3r reducing maintenance cost for aged equipments and ensuring safety, efficiency and profitability of petrochemical and refinery plants. Hence, it was required to develop advanced methods which meet this need. RBI(Risk Based Inspection) methodology is one of the most promising technology satisfying the requirements in the field of integrity management. In this study, a quantitative assessment algorithm fir RBI based on the API 581 code was reconstructed for developing an RBI software. The user-friendly realRBI software is developed with a module for evaluating quantitative risk md financial risk using the potential consequence and the likelihood. Also, inspection planning module for inspection time and inspection method are included in it.

• Journal of Convergence for Information Technology
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• v.10 no.8
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• pp.187-193
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• 2020

This study analyzed how risk factors in management affect the management of working capital in general hospitals in Korea. The data used accounting information for three years (2016~2017 and 2018) of 271 general hospitals using the medical institution accounting information disclosure system. The independent variables were the working capital level and the cash conversion cycle, The dependent variables were operational risk and market risk, Control variables were selected as components of working capital(cash, accounts receivable, inventory assets, accounts payable). According to the study, the lower the operational risk, the higher the level of working capital hospitals in Korea. Working capital decisions were confirmed to be attributable to operating risks, cash, inventory assets and accounts payable. And the lower the market risk (Operating Margin), the higher the cash conversion cycle. Therefore, it is necessary to review appropriate management measures of operational risks, cash, inventory assets and accounts payable identified as operating capital determinants so that medical institutions can also have economic response capabilities in consideration of the specificity of their operations.

• Anxiety and mood
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• v.14 no.2
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• pp.106-111
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• 2018

Objective : High-risk pregnant women are exposed to the physical and emotional crisis associate with the condition of high-risk pregnancy, making these women emotionally unstable, exhibiting such conditions as depression and anxiety. The aim of this study was to examine what effects the temperament and character of high-risk pregnant women had on their depression, anxiety, and maternal-fetal attachment. Methods : A hundred and five high-risk pregnant women were recruited in the maternity ward of the Keimyung University medical center. All subjects were administered a sociodemographic and obstetric questionnaire, Temperament and Character Inventory, Beck Depression Inventory-II, State Trait Anxiety Inventory-State, and Maternal-Fetal Attachment Scale. Results : First, higher scores on the harm-avoidance scale and lower scores on the self-directedness scale were associated with higher depression scores. Second, higher scores on the harm-avoidance and reward-dependence scale were associated with higher anxiety scores. Lastly, higher scores on the cooperativeness scale were associated with higher maternal-fetal attachment scores. Conclusion : Temperament and character in high-risk pregnant women were associated with the degree of depression, anxiety, maternal-fetal attachment. Based on these findings, it is suggested that examining temperament and character in advance and screening for vulnerability in pregnant women can help to prevent emotional problems for high-risk pregnant women.