• Journal of the Korean Operations Research and Management Science Society
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• v.34 no.1
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• pp.11-28
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• 2009

Intelligent investment in setup cost reduction and process reliability improvement is crucial to an emerging integrated lean six sigma practice today. This study examines a cost-minimizing problem of jointly determining production lot size, setup cost reduction, and process reliability improvement decisions for a manufacturer with an imperfect production process. We develop models for previously untapped discrete shipping in a supply chain context as well as continuous shipping and solve them optimally using differential calculus and nonlinear programming. We also conduct analytic and numerical sensitivity analyses to provide various important managerial insights into practices.

• Proceedings of the Korean Geotechical Society Conference
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• 2009.03a
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• pp.1076-1085
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• 2009

Recent heavy rains and typhoons broke down road slopes, which caused a hazard to safety. As a result, interests in the effective investment for disaster prevention is increasing. Measures of investigation method for slope have been taken, but the financial costs have never been analysed. This study applied the cost-benefit analysis theory used in public economics to the evaluation of the financial reasonability of management for slope. By applying cost-benefit analysis to road slope investigation method, the reduction of safety costs and resulting financial benefits can be seen and it also clarifies the reasonability and investment effects of slope management.

• International Journal of Highway Engineering
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• v.15 no.3
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• pp.137-149
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• 2013

PURPOSES: This study is to suggest the Contribution of Road Capital in Industry and Optimal Level of Road Investment in South Korea METHODS: Based on the literature review, This research is empirically estimated using disaggregate and disaggregated data composed of 10-sectors covering the entire korea economy for the period 1970~2000. The relevant policy questions addressed in this report are : cost reduction and Scale elasticities of road, effect of road capital stock on demand for labor, capital and materials, marginal effect of road, industry TFP growth decomposition, Net Social Rates of Returns, optimal of road capital. RESULTS : The marginal benefits of the road capital at the industry level were calculated using the estimated cost elasticities. Demand for the road capital services varies across industries as do the marginal effects. The marginal benefits are positive for the principal industries. This suggests that for these industries the existing stock of road capital may be under supplied. CONCLUSIONS: This results emerges is that the ratio of the optimum to actual road capital, measured by road, was high at beginning of the period 1970s and declined 1990s. There appears to be evidence of under-investment in road capital. That is continuous and premeditated investment for road which lead to saving time and finance.

• Environmental and Resource Economics Review
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• v.23 no.3
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• pp.435-451
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• 2014

This paper attempts to evaluate an environmental regulation program which enforces installation of filtering equipment to reduce major air pollutants from used diesel vehicles. A real option model is presented to incorporate fuel cost uncertainty and irreversibility of emission-reducing investment. A finite-life option based on finite difference method is developed to consider the limited life expectancy of used vehicles. After taking into account social benefits from emission reduction and costs from decreasing fuel efficiency after the adoption of filtering technology, the result finds overall positive performance of the Pollution Reduction Program. However, the result suggests that the Program be designed to be more specific to vehicle types to improve program performance.

• Journal of Information Technology Applications and Management
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• v.16 no.4
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• pp.205-222
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• 2009

Considering time-lag in the performance evaluation of information system (IS) investment is important because its effect reveals after certain period of time passed. Particularly it is more in the systems of e-government informatization projects which the amount of investment and the scale of business are huge. Many methods to solve this issue have been proposed such as system dynamics methods, simulations, structural equations etc. However, it is still difficult and unsolved problem because collecting practical data for time-lag analysis is very hard. In this paper, we analyze IS time-lag effect through factor analysis using the accumulated practical operational DB data. For the performance evaluation of the G4C system, the representative e-government web portal, we selected eleven factors reflecting time passing in G4C DB data. With these factors this paper conduct time-lag analysis in four view points. First, we conducted 'Stabilizing of G4C system' and got a result that IS is needed about three years for the stabilization. Second, we conducted 'Utilization of G4C system' and got a result that the utilization reaches appropriate level after in three years later after the introduction of G4C system. Third, we conducted 'Cost reduction effect' and got a result that cost reduction is stable in the third year after the introduction of G4C system. Lastly, we conducted 'System maturity effect' and got a result that the system reaches to the quality level that users expect after third to fourth years. According to the results of this research, we found that performance of IS improv continuously not immediately, and it needs three or four years of time-lag.

• Journal of Advanced Marine Engineering and Technology
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• v.38 no.9
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• pp.1057-1063
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• 2014

Concerning $CO_2$ reduction from International Societies, lots of laboratories and relevant societies suggest many reports on how to reduce fuel consumption from their specific ways. Undoubtedly, cutting costs is the final desired destination for owner outcome, but many questions there are on the way yet: how is this measure working? how efficient is it? On what size of ship would it work best and be the most effective? etc. Fuel cost is one of the major cost elements for ship owners and/or operators. And by reducing fuel consumption owners and/or operators will reduce both their costs and the environmental impact from their ship. This paper is aim to address how the measures work for saving fuel consumption through improve propulsion efficiency, installation cost and benefit can be calculated easily in the return on investment for estimated one year operation, and finally their compatibility with other fuel saving measure devices.

• Journal of the Korea Society of Computer and Information
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• v.22 no.9
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• pp.25-32
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• 2017

In this paper, we propose the softwareization of broadcasting system. Recently, the topic of industry is the fourth industrial revolution. The fourth industrial revolution is evolving from physical to virtualization. The Industrial Revolution is based on IT technology. Artificial Intelligence (AI), Big Data, and the Internet of Things, which are famous for Alpha Go, are based on software. Among IT, software is the main driver of industrial terrain change. The systemization of software on the basis of cloud environment is proceeding rapidly. System development through softwarization can reduce time to market lead time, hardware cost reduction and manual operation compared to existing hardware system. By developing and implementing broadcasting system such as IPTV based on cloud, lead time for opening service compared to existing hardware system can be shortened by more than 90% and investment cost can be saved by about 40%. In addition, the area of the system can be reduced by 50%. In addition, efficiency can be improved between infrastructures, shortening of trouble handling and ease of maintenance. Finally, we can improve customer experience through rapid service opening.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.49 no.11
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• pp.566-574
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• 2000

This paper propose a heuristic algorithm based on the Branch-Exchange (BE) method to solve Optimal feeder Routing(OFR) problem for the distribution system planning. The cost function of the OFR problem is consisted of the investment cost representing the feeder installation and the system operation cost representing the system power loss. We propose a properly designed heuristic strategy, which can handle the horizon-year expansion planning problem of power distribution network. We also used the loop selection method which can define the maximum loss reduction in the network to reduce calculation time, and proposed a new index of power loss which is designed to estimate the power loss reduction in the BE. The proposed index, can be considered with both sides, the low voltage side and voltage side branch connected with tie one. The performances of the proposed algorithms and loss index were shown with 32, 69 example bus system.

• Journal of Korea Technology Innovation Society
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• v.9 no.1
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• pp.175-198
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• 2006

Analyzing the effects of information technology(IT) in the life insurance Industry is important in establishing the direction for future information technology investment. In this research, the cost-elasticity of IT capital stock was measured by the SUR technique, using the second-order translog cost function, which was drawn out by a Taylor expansion of the multi-product joint cost function. Analysis was made based on data from 1991 to 2003 collected from 33 life insurance firms. The results show that although the effects of information technology investment vary according to individual life insurance firms, half of the life insurance firms surveyed reduced their costs by investing in information technology. The research also revealed that although large life insurance firms reduced their costs by investing in information technology medium & small life insurance firms and foreign ,life insurance firms increase their costs. Additionally, although both information capital and information labor increase as the information budget increases, the increase in information capital is larger than one in information labor. Because the price of information capital is decreased rapidly more than one of information-related labor.

• The Journal of Fisheries Business Administration
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• v.29 no.2
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• pp.163-175
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• 1998

The decrease of the fishery's business performance is due to the changes of environment-the increase of cost, the reduction of resources, the liberalization of import, the effectuation of the admiralty law Though the government has prepared the alternative policy to strengthen the competitive power of the fishery, fishermen should draw up a plan to improve the business performance. The problems of the small powered purse seine resulting from the small scale of the fishing boat is following. First, its catching activity in the sea is riskful. Second, the space to eat and to work is not enough. Third, the space to put the fish is not enough, it is hard to maintain the freshness of the fish. Therefore it is necessary to solve these problems for the scale of the fishing boat to have to be enlarged. The enlargement of the fishing boat to be required much expenditure of fund is the important investment decision to fishermen. The alternatives evaluation between the existing boat(defender) and the new boat enlarged with the new equipment(challenger) is necessary process to reduce the uncertainty of investment. The profitability of the challenger is better than that of defender due to the reduction of cost and the increase of revenue. Because the net present value of incremental cash flow is positive, it is rational for fishermen to accept the challenger.