• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.16
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• pp.59-81
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• 2001

There are two methods of quantifying the damages when the contract is avoided. One is 'concret' assessment, the other is 'abstract' assessment. The former looks to the actual cost incurred by the aggrieved party in concluding a contract for the substitute transaction, while the latter is based on the market price. The concrete method of assessment forms the starting point in the Civil Law systems. In the Common Law systems, it is likewise available. The aggrieved party is entitled to recover the difference between the cost of cover or (as the case may be) the proceeds of resale and the contract price. Both systems also recognize the abstract method of assessment. If the aggrieved party does not resell or cover, damages are equal to the difference between the price fixed by the contract and the market price. The CISG and the UNIDROIT Principles recognize expressly both concrete and abstract methods. Under the relevant articles, the aggrieved party can recover the damages assessed by one of the methods as well as any further damages such as loss of profit, incidental and consequential damages.

• Proceedings of the KSR Conference
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• 2004.06a
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• pp.507-513
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• 2004

In the railway system, transportation plan corresponds to a m aster plan for transport services. This service plan must be constructed to minimize operational cost or maximize revenue considering transportation demands and resource capacities in the railway operation company, and it includes several sub-planning activities such as train operation frequency plan, train (schedule) plan, train capacity assignment plan, and rolling stock requirement plan. In these sub- planning processes, train can be con side red as a product for providing customer services, and customer demands and operational advantages must be considered. In this paper, we present an effect estimation system for the train capacity pattern in a train schedule, and the effect of capacity pattern can be expressed as minimum spilled demand, minimum train service cost, and maximum train revenue or profit.

• Journal of the Korea Safety Management & Science
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• v.17 no.1
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• pp.265-270
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• 2015

In industrial society, the core competency of company was depend on the productivity. However the knowledge information era of the 21st century, the market power moved to downstream, the core competency of company is moved from productivity to how to make the products meet the market. Inventory was the burden of the company management. Most of company trying to reduce the inventory. In this study, analyze the impact of inventory to company's operating profit and the impact of distribution center consolidation to total inventory of company.

• Journal of Korean Society for Quality Management
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• v.36 no.4
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• pp.77-86
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• 2008

Due to the rapid growth in automated testing and manufacturing systems, screening inspection becomes very attractive. In this paper, we investigate the effects of limited capacity on screening inspection using a surrogate variable. The model is developed under the assumption that the reprocessed and nonreprocessed items are produced by the same manufacturing process and therefore their quality characteristics are independently and identically distributed. Profit models are constructed which involve four price/cost components; selling price, cost incurred by imperfect quality, reprocessing and quality inspection costs. Methods of finding the optimal screening limits are presented, and a numerical example is given. Sensitivity analyses are also performed to study the effect of a process standard deviation on this model.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2003.05a
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• pp.14-20
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• 2003

Supply chain is the link that moves products between suppliers, manufactures, wholesalers, distribution, retailers and ended consumers. Supply chain management(SCM) is a way to supervise the flow of products, materials and information as they move along the supply chain. In the recent years, Most of the companies are in a hurry the introduction of SCM to obtain international competitiveness. The goal of SCM is to optimize the supply chain, which can not only reduce inventories, but may also create a higher profit margin for finished goods by giving customers exactly what they want. There are four major decision areas (location, production, inventory, transportation) in supply chain management, and there are both strategic and operational elements in each of these decision areas. This paper is concerned with the integrated production planning problem including not only the production cost but also the transportation cost in supply chains, and an efficient algorithm using genetic algorithm and quickest path method is presented to solve the problem.

• Journal of Marine Bioscience and Biotechnology
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• v.2 no.1
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• pp.23-33
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• 2007

The constraints of traditional fish drying in Bangladesh have been reviewed and an effective solar fish dryer was developed with the small-scale processors and fishermen using locally available cheaper materials in order to dry fish in coastal region. After successful field testing, new solar dryer was demonstrated within the community in 3 different locations of Cox's Bazar for several batches of operations in each location from late September to March and found very effective in terms of architectural suitability, operational feasibility, technical efficiency, out-put quality (good texture, colour, flavour and long storage time), user's acceptability, commercial viability and environmental adequacy. A simple cost-profit analysis was done with the community operated products, which indicates that the new solar fish dryers could be operated profitably in coastal regions where sun-light and air flows are abundant.

• Korean System Dynamics Review
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• v.13 no.4
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• pp.57-80
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• 2012

This research studies effect of FDA regulations in pharmaceutical industry on new drug development. System dynamics is implemented to demonstrate dynamic relationship between FDA regulations and R&D costs, firm's profits, sales. This research is focused on clinical trials of new medical entity process 50~60% portion of total development cost. Simulation results say that firm's profit is more sensitive to increasing the regulation than alleviating the regulation and effect of regulation policy make different result depending on the intensity of regulation and policy direction. Our simulation model provides the instrumental means for the policy makers and strategic decision in pharmaceutical industry.

• Journal of Korean Institute of Industrial Engineers
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• v.31 no.3
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• pp.248-256
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• 2005

In this paper, we compare two EOQ based inventory models under total cost minimization and profit maximization to investigate the difference in the optimal solutions. First of all, optimal solutions for both models through geometric programming (GP) techniques are found considering production (lot sizing) as well as marketing (pricing) decisions. An investigation of the effects of the changes in the optimal solutions according to varied parameters is performed by studying optimality conditions as well as by performing numerical analysis. We then conduct comparative analysis between the models to show the relationships between the optimal solutions of the models where certain conditions in the cost per unit and the demand per unit time are given. Several interesting economic implications and managerial insights are observed from this analysis.

• Journal of Korean Society for Quality Management
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• v.7 no.2
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• pp.17-21
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• 1979

There are many kinds of the mathematical models which are developed for choosing the economic inspection plan. The aim of this paper is to classify these mathematical models, and to examine their characteristics. The mathematical models for choosing the economic inspection plan can be classified into three groups. The first of it is the break-even analysis, the second group of the model is to choose the inspection plan so as to minimize total sampling inspection cost function, and the third group of it is the model to choose the inspection plan which maximize the profit function of the sampling inspection. As a result of examining the characteristics of this classified group of the models the model to choose the inspection plan which minimize total sampling inspection cost is more economical than the other models.

• Journal of Technology Innovation
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• v.10 no.2
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• pp.107-129
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• 2002

Expansion and enhancement of information and communication infrastructure can create a market closer to an ideal type for a perfect competition, utilizing a cyber space in the network (with the expanded usage of Internet and e-commerce) and it could be a market of a monopolistic form. The government can take one of the two approaches responding to this monopolization of the digital market. First, the government maintains laissez-faire policy since the monopoly cannot be maintained over a long period of time due to an increasing in the production, decrease in the price, profit resulting from this and rapid technology evolution. Second, the government can actively interrupt the monopolization of the digital market. Monopolization in a digital market can lead to a market failure. Unstable market structure and too much frequent merger and acquisition contribute to making the digital market very dynamic. Information goods exchanged in the digital market have the features of very low marginal cost required to copy the original product whereas its initial fixed cost is very high. This explains why the information products are not priced based on the existing marginal price determination principles and why companies producing them have various product sales strategies (price/product differentiation strategy, and other sales strategies).