• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.35
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• pp.41-69
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• 2007

This study analyzes some important implications for the forthcoming revision of eUCP through the methodology of expected utility maximization theory. The overall results are as follows. First, beneficiary with an initial wealth has a risk-averse utility in traditional letter of credit transaction, and he would be more risk-averse in eUCP transaction. Secondly, the beneficiary who has risk-averse utility will pay for the risk premium to reduce the risk of corruption of an electronic record by means of cost of loss reduction activities. Thirdly, the cost of loss reduction activities is represented by a convex cost function, Fourthly, a risk averse beneficiary pursues loss reducing activities to the point where the expected marginal product of loss reduction is less than its marginal cost. Fifthly, a more risk-averse eUCP beneficiary will always select a higher level of loss reduction as long as the effectiveness of loss reduction is certain. Sixthly, when the effectiveness of loss reduction is uncertain, the more risk-averse eUCP beneficiary does not necessarily choose a higher level of loss reducing activities. Finally, it would be more reasonable that eUCP Article 11 should protect eUCP beneficiary who pursues a higher level of loss reducing activities.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.60 no.4
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• pp.726-732
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• 2011

To establish the transmission system expansion plan based on reliability, valuation of outage cost become more important. In previous studies about outage cost estimation, macroscopic, microscopic and analytic methods are proposed but they have some limit. For instance, microscopic method involves a complex field survey process and macroscopic method can not estimate regional outage cost. So in this paper, a new method to estimate regional macroscopic outage cost using the reduction of value added due to power outages is proposed. This method uses regional add value according to production activities called Gross Regional Domestic Product(GRDP) and regional electricity sales.

• Applied Chemistry for Engineering
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• v.3 no.2
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• pp.194-200
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• 1992

Dow has made waste reduction a priority at its facilites around the world. In 1986, the company formalized its waste reduction under a program called WRAP-Waste Reduction Alwasy Pays. The objectives of WRAP are to seek out cost effective projects that reduce waste to the environment, measure and track performance, and recognize employee excellence. The successful examples of Dow's WRAP Program are introduced as follows : 1. By-Product Feedstock Optimization. 2. Plastics Reclamation. 3. Glucol II Plant Absorber Water Upgradele. 4. Loss Reduction Project.

• Journal of Korean Institute of Industrial Engineers
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• v.24 no.2
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• pp.175-183
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• 1998

When a product is designed, tolerances must be given to the product so that required functions are guaranteed and production costs are minimized. In this research, a model is suggested which allocates tolerances to components optimally according to the STA(Statistical Tolerance Allocation) method. Taking into account the concept that dimensional errors have characteristics of statistical distributions, this model presents the discrete pseudo-boolean approach for the tolerance optimization by minimizing the tolerance cost and the quality loss cost. In this approach, two methods are proposed for the reduction of the problem scale; 1) a method for converting the minimization model for casts into the maximization model for cost savings, and 2) procedures to reduce the number of constraints and variables.

• Management Science and Financial Engineering
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• v.4 no.2
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• pp.15-42
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• 1998

A joint problem of order delivery, setup reduction, and cost-sharing in a two-echelon inventory system in which a vendor supplies multiple products to a group of buyers is studied here. The basic premise is that buyers have independently implemented setup reduction programs to acquire benefits from small order sizes. Doing so, however, causes the buyers' individually optimal order cycles to be differ from that of the vendor. In conjunction with this, two models are considered. In the first model, a multi-buyers single product situation is considered in which the vendor implements a joint supply cycle policy. However, buyers, as the dominant party, insist after implementing the individually optimal setup reduction that the vendor accept their individually optimal order schedules. In the second model. a multi-products, single buyer situation is considered in which the buyer implements a joint order policy. Here, the vendor, as the dominant party, refuses to cooperate fully with the buyer's individually reduced joint order schedule, and designs his own individually optimal setup reduction mix for each product under a given budget constraint. This led to a study of an integrated Setup Reduction/Break-even Pricing Policy for each situation to eliminate mismatches in individually optimal cycle times.

• Environmental and Resource Economics Review
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• v.15 no.4
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• pp.713-740
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• 2006

In this paper, we examine what factors should be considered in cost-benefit analysis of a resource-developing project as cos and benefit item. According to this study, the reduction in forest product value and the reduction in function to clean air pollution should be included as a environmental cost. However, the reduction in recreation function and function in cleaning water need not to be included. We also calculated a cost-benefit of developing project for lime mineral of A company by applying these factor just mentioned. This paper concluded that the net benefit of this project is positive and the range of the value is from 689,900million won to 1,784,000million won.

• Proceedings of the Korea Database Society Conference
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• 2000.11a
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• pp.1-10
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• 2000

o Procurement inefficiencies - Material and Purchase Process Cost reduction o Sourcing not proactive - Lack of visibility disrupts ability to deliver o Poor collaboration impedes ability to meet demand o Communications Impeded by product content negotiation (omitted)

• Proceedings of the Korean Society of Precision Engineering Conference
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• 1995.10a
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• pp.707-710
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• 1995

Structure of product, which is not considered by easy of assembly, has many hidden costs. For reduction of hidden costs, concepts of line balancing and assembly-oriented design are used. We find that part of structure can be improved by concept of line balancing. To reduce assembly time and enhance easy of assembly, design principles are developed by concept of assembly-oriented design. And design principles for improvement are applied according to condition of the grasped parts of product structure. Thersfore, we could design assembly-oriented design for better structure and low cost.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.31 no.4
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• pp.100-105
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• 2008

Cost reduction, time to market, and quality improvement of software product are critical issues to the software companies which try to survive in recent competitive market environments. Software Product Line Engineering (SPLE) is one of the approaches to address these issues. The goal of software product line is to maximize the software reuse and achieve the best productivity with the minimum cost. In software product line, software components are classified into the common and variable modules for composition work. In this paper, we proposed a dynamic composition process based on aspect-oriented programming methodology in which software requirements are classified into the core-concerns and cross-cutting concerns, and then assembled into the final software product. It enables developers to concentrate on the core logics of given problem, not the side-issues of software product such as transactions and logging. We also proposed useful composition patterns based on aspect oriented programming paradigm. Finally, we implemented a prototype of the proposed process using Java and Aspect to show the proposed approach's feasibility. The scenario of the prototype is based on the embedded analysis software of telecommunication devices.