• 한국생산제조학회지
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• 제19권1호
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• pp.114-120
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• 2010

Optimization of the turning process has been concentrated on the selection of the optimal cutting parameters, such as cutting speed, feed rate and depth of cut. However, optimization of the cutting parameters does not necessarily guarantee the maximum profit. For the maximization of the profit, parameters other than cutting parameters have to be taken care of. In this study, 8 price-related parameters were considered to maximize the profit of the product. Regression equations obtained from RSM technique to relate the cutting parameters and maximum cutting volume with a given insert were used. The experiments with four combinations of cutting inserts and material were executed to compare the results that made the profit and cutting volume maximized. The results showed that the cutting parameters for volume and profit maximization were totally different. Contrary to our intuition, global optimization was achieved when the number of inserts change was larger than those for volume maximization. It is attributed to the faster cutting velocity, which decreases processing time and increasing the number of tool used and the total tool changing time.

• 대한전기학회:학술대회논문집
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• 대한전기학회 2011년도 제42회 하계학술대회
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• pp.270-271
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• 2011

Due to integration of wind power, its unpredictable uncertainty can be a very lethal factor in generation dispatch problem. To handle such uncertainty of wind power output, a profit maximization problem is formulated and random wind speed is modeled by Weibull distribution in this paper. A case study is calculated through profit maximization approach with random wind speed. The effect of case study results is evaluated on how the uncertain wind power integration into the power system affects on the generation dispatch.

• Asia Marketing Journal
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• 제14권3호
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• pp.49-68
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• 2012

When a channel is vertically separated, there can be inefficiencies, double marginalization. Channel coordination to amend this inefficiency has been an important issue in marketing and economics. Channel coordination deals with maximization of joint profit and achieving proper profit sharing among participants. In this paper, a manufacturer and heterogeneous multiple retailers with exclusive territory are assumed, and channel coordination with two-part tariff is considered. When multiple heterogeneous retailers are assumed, profit sharing can be an issue even though the tariffs based on marginal cost can maximize joint profit. In case of multiple heterogeneous retailers, the manufacturer earns the same profit (fixed fee) from each retailer. This means that a large retailer occupies all the gaps of channel profit between small and large markets. Then, the manufacturer, which generally plays the role of Stackelberg leader, will consider increasing fixed price or marginal price to earn more profit from large retailer. Those reactions can sacrifice maximization of joint profit by making small retailer withdraw or by changing the sales quantities. In this paper, to maximize joint profit and achieve proper profit sharing, two kinds of optional tariffs are considered. The first is an optional two-part tariff based on marginal cost and the second is an optional modified two-part tariff in which marginal prices are higher than the manufacturer's marginal cost. In both types of optional tariffs, maximization of joint profit in each market can be achieved. Moreover, optional tariffs alleviate the problem of profit sharing. Optional tariffs can provide a manufacturer more profit from a large retailer when profit from a small retailer is given. However, the analysis shows that the maximum share of manufacturer from a large retailer is restricted by the condition for self-selection. In case of optional two-part tariffs based on marginal cost, if the gap between demands is large, the maximum share of the manufacturer is sufficient to achieve proper profit sharing. If the gap between demands is not sufficiently large, the manufacturer cannot earn sufficient share from increased profit. An optional modified two-part tariff where marginal price is more than marginal cost of manufacturer is considered because of this scenario. The marginal price above the marginal cost may additionally control the distribution of the increased profit. However, the analysis shows that a manufacturer's maximum profit from a large retailer with given profit from a small retailer is the same as or lower than the maximum profit when optional two-part tariffs based on marginal cost are applied. Therefore, it can be concluded that the optional modified tariffs do not have additional contribution to profit sharing relative to the tariffs based on marginal cost. Although this paper does not cover all kinds of optional tariffs that are different from tariffs based on marginal cost, it shows the advantage of optional tariffs based on marginal cost and has important theoretical implications. The result of this paper also gives guide for channel coordination. Optional two-part tariff based on marginal cost can increase efficiency in channel coordination.

• 한국조경학회지
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• 제24권3호
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• pp.109-114
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• 1996

Generally, the size of our recreation sites is selected through use demand at the peak day. At same time, scale economic and diseconomic are applied to a recreation site. If you are a rational decision-maker, you would like to select the size of your park at profit-maximization point. This study is the first try for modelling a Gain-Loss by the size options of a theme park. For testing the validity of a financial model to select the size of theme parks. Ever-Land, Seoul-Land, Dream-Land's operating size was analyzed. By the size options, the revenue of each park was compared with cost. The profit-maximization point and break-even point of each park were found. Ever-Land and Dream-Land's size was selected between the profit-maximization point and the break-even point. In contrast with Ever-Land and Dream-Land's, Seoul-Land's was selected upper the break-even point. To increase the utility of this model in selecting the size of a theme park, a decision-maker must keep in mind a few limits of this study. That is, 1) this model can not be applied at public parks. 2) Sometimes the others can be more important than financial revenue and cost. Finally, there is the validity of Gain-Loss Model in estimating only the financial revenues and costs through the size options.

• KSII Transactions on Internet and Information Systems (TIIS)
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• 제9권12호
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• pp.4950-4966
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• 2015

Cloud providers now face the problem of estimating the amount of computing resources required to satisfy a future workload. In this paper, a virtual machine provisioning (VMP) mechanism is designed to adapt workload fluctuation. The arrival rate of forthcoming jobs is predicted for acquiring the proper service rate by adopting an exponential smoothing (ES) method. The proper service rate is estimated to guarantee the service level agreement (SLA) constraints by using a diffusion approximation statistical model. The VMP problem is formulated as a facility location problem. Furthermore, it is characterized as the maximization of submodular function subject to the matroid constraints. A greedy-based VMP algorithm is designed to obtain the optimal virtual machine provision pattern. Simulation results illustrate that the proposed mechanism could increase the average profit efficiently without incurring significant quality of service (QoS) violations.

• 대한전기학회논문지:전력기술부문A
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• 제52권4호
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• pp.234-239
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• 2003

In recent decades, many countries have introduced competition in the electricity industry. Now, unit commitment becomes not a problem to be solved by a monopoly company but the one to be tackled by each generation company(GENCO). Its aim has been altered from the global cost minimization to the each GENCO's profit maximization. In this paper, the author proposes the scheme of unit commitment of a GENCO to maximize profit considering the uncertainty of market clearing price. The type of the assumed market is a uniform price market. A genetic algorithm is used for the maximization of the profit.

• 한국경영과학회:학술대회논문집
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• 한국경영과학회 1997년도 추계학술대회발표논문집; 홍익대학교, 서울; 1 Nov. 1997
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• pp.197-200
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• 1997

Each company is more interested in the productivity to achieve cost reduction and profit maximization through productivity improvement. With this trend, we show the method to measure productivity using TPM(Total Productivity Model) which considers all the input factors of the company instead of using partial productivity such as labor and/or capital productivity We also examine the relation of productivity versus output, profit versus output and profit versus productivity of the case company by actually applying the TPM and suggest the optimal level of profit and output for this company.

• 품질경영학회지
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• 제21권1호
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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).

• 한국산업융합학회 논문집
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• 제8권2호
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• pp.85-95
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• 2005

The margin level in the futures market platys an important role in balancing the default probability with the investor's opportunity cost. In this paper, we investigate whether the movement of KOSPI200 futures daily prices can be modeled with the extreme value theory. Based on this investigation, we examine the validity of the margin level set by the extreme value theory. Moreover, we propose an expected profit-maximization model for securities companies. In this model, the extreme value theory is used for cost estimation, and a regression analysis is used for revenue calculation. Computational results are presented to compare the extreme value distribution with the empirical distribution of margin violation in KOSPI200 and to examine the suitability of the expected profit-maximization model.

• 자원ㆍ환경경제연구
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• 제12권1호
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• pp.75-90
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• 2003

본 연구는 도로혼잡의 외부효과를 제거하기 위한 정책방안으로 선행연구들이 제안한 피구세의 타당성 여부를 편익측면의 분석을 통해 재조명하고 있다. 본 연구는 예산제약 조건과 시간제약 조건하의 효용극대화 모형을 이용하여 고속도로 이용을 통해 얻을 수 있는 사적 한계편익과 사회적 한계편익을 규명하고 있다. 그 결과 본 연구는 사적 한계편익과 사회적 한계편익의 차이인 외부 시간비용 만큼을 피구세로 부과할 것을 제안하고 있다. 이 때 외부 시간비용은 고속도로 혼잡으로 인해 고속도로 이용자가 추가로 부담하는 한계시간비용의 가치를 나타낸다. 그리고 본 연구는 효용 극대화 모형을 통해 도출한 피구세의 크기와 이윤(또는 부)의 극대화를 통해 선행연구들이 도출한 피구세의 크기가 동일하다는 사실을 이론적으로 보여주고 있다. 아울러 본 연구는 효용극대화 모형을 통하여 사회적 평균혼잡비용과 사적 한계혼잡비용이 일치한다는 사실도 동시에 보이고 있다.