• Title/Summary/Keyword: Time value cost

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Decision of Producer's Specification Limits Considering Types of Loss Function (손실함수의 형태를 고려한 생산자 규격한계의 결정)

  • Kim, Dong-Hyuk;Chung, Young-Bae
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.41 no.3
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    • pp.145-153
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    • 2018
  • Taguchi regarded the concept of quality as 'total loss to society due to fluctuations in quality characteristics from the time of supplied to the customer.' The loss function is a representative tool that can quantitatively convert the loss that occurs due to the deviation of the quality characteristic value from the target value. This has been utilized in various studies with the advantage that it can change the social loss caused by fluctuation of quality characteristics to economic cost. The loss function has also been used extensively in the study of producer specification limits. However, in previous studies, only the second order loss function of Taguchi is used. Therefore, various types of losses that can occur in the process can't be considered. In this study, we divide the types of losses that can occur in the process considering the first and second loss functions and the Spiring's reflected normal loss function, and perform total inspection before delivering the customer to determine the optimal producer specification limit that minimizes the total cost. Also, we will divide the quality policy for the products beyond the specification limits into two. In addition, we will show the illustration of expected loss cost change of each model according to the change of major condition such as customer specifications and maximum loss cost.

Pricing Real Options Value Based On the Opportunity Cost Concept (기회비용개념을 이용한 실물옵션가치분석)

  • 김규태;김윤배
    • Korean Management Science Review
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    • v.18 no.1
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    • pp.29-39
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    • 2001
  • Traditionally, companies have been concerned with making an investment decision either to go now or never to go forever. However, owing to the development of the theory of options pricing in a financial investment field and its introduction to the appraisal of real investments in these days, we are now partially allowed to derive the value of a managerial flexibility of real investment projects. In this paper, we derived a general mathematical model to price the option value of real investment projects assuming that they have only one-period of time under which uncertainty exists. This mathematical model was developed based on the opportunity cost concept. We will show a simple numerical example to illustrate how the mathematical model works comparing it with the existing models.

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Speed reducer be indicated a power using of elastic strain (탄성 변형을 이용한 동력이 표시되는 감속기)

  • Noh, S.Y.;Nam, W.K.;Kang, H.K.;Kim, N.I.;Kim, Y.T.;Oh, S.H.
    • Journal of Power System Engineering
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    • v.10 no.4
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    • pp.181-186
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    • 2006
  • In this paper, a noncontact type torque meter using silicone rubber to measure the exact torque value and reduce a vibration and a noise, was developed. When planetary gear speed reducer runs, torque, RPM etc.. of motor change according to load or speed change. So, it needs a device to detect load's change or to diagnose the state of thewhole drive department by monitoring these result values. The noncontact type torque meter using silicone rubber that we're trying to develop this time is low-cost and can measure RPM and torque value simply. Also, it caculate a power using this value and indicate them on screen.

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Control of Real-Time Systems with Random Time-Delays

  • Choi, Hyoun-Chul;Hong, Suk-Kyo
    • 제어로봇시스템학회:학술대회논문집
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    • 2003.10a
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    • pp.348-353
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    • 2003
  • This paper considers the optimal control problem in real-time control systems with random time-delays. It proposes an algorithm which uses the linear quadratic (LQ) control method and a dedicated technique to compensate for the time-delay effects. Since it is assumed that the time-delays are unknown but the probability distribution of the delays are known a priori, the algorithm considers the mean value of the time-delays as a nominal value for random delay compensation. An example is given to show the performance of the proposed algorithm, where an inverted pendulum system is controlled over a controller-area network (CAN). Simulation results show that the proposed algorithm provides good performance results. It is shown that our algorithm is comparable to existing algorithms in both computation cost and performance.

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History of the National Health Insurance Cost for Radiological Examinations and Value of the Radiological Report Fee (영상의학과 보험수가 역사와 판독료의 가치)

  • Choong Wook Lee
    • Journal of the Korean Society of Radiology
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    • v.81 no.5
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    • pp.1038-1052
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    • 2020
  • Advancements of medical care with the use of new medical technologies have been promoting public health, but they can also place a financial burden on individuals and the country. Since the introduction of the health insurance system in 1977, the South Korean government has been attempting to control medical expenses. Radiological examinations have been a major target for cost reduction. Meanwhile, the radiological report fee has been combined with the technical fee for a long time; hence, its value has not been independently evaluated, and was also decreased proportionally with examination cost reduction. However, in the revised medical fee estimation system for MRI, the report fee has begun to be calculated separately from the technical fee, significantly contributing to the evaluation of the radiologists' work value. In conclusion, radiologists need to know and actively participate in the process of determining the insurance cost of radiological examinations and reports to get a proper value of their professionalism.

Optimum Scheduling Algorithm for Job Sequence, Common Due Date Assignment and Makespan to Minimize Total Costs for Multijob in Multimachine Systems (다수(多数) 기계(機械)의 총비용(總費用)을 최소화(最小化)하는 최적작업순서, 공통납기일 및 작업완료일 결정을 위한 일정계획(日程計劃))

  • No, In-Gyu;Kim, Sang-Cheol
    • Journal of Korean Institute of Industrial Engineers
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    • v.12 no.1
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    • pp.1-11
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    • 1986
  • This research is concerned with n jobs, m parallel identical machines scheduling problem in which all jobs have a common due date. The objective of the research is to develop an optimum scheduling algorithm for determining an optimal job sequence, the optimal value of the common due date and the minimum makespan to minimize total cost. The total cost is based on the common due date cost, the earliness cost, the tardiness cost and the flow time cost of each job in the selected sequence. The optimum scheduling algorithm is developed. A numerical example is given to illustrate the scheduling algorithm.

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Nonfragile Guaranteed Cost Controller Design for Uncertain Large-Scale Systems (섭동을 갖는 대규모 시스템의 비약성 성능보장 제어기 설계)

  • Park, Ju-Hyeon
    • The Transactions of the Korean Institute of Electrical Engineers D
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    • v.51 no.11
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    • pp.503-509
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    • 2002
  • In this paper, the robust non-fragile guaranteed cost control problem is studied for a class of linear large-scale systems with uncertainties and a given quadratic cost functions. The uncertainty in the system is assumed to be norm-bounded and time-varying. Also, the state-feedback gains for subsystems of the large-scale system are assumed to have norm-bounded controller gain variations. The problem is to design a state feedback control laws such that the closed-loop system is asymptotically stable and the closed-loop cost function value is not more than a specified upper bound for all admissible uncertainties and controller gain variations. Sufficient conditions for the existence of such controllers are derived based on the linear matrix inequality (LMI) approach combined with the Lyapunov method. A parameterized characterization of the robust non-fragile guaranteed cost controllers is given in terms of the feasible solutions to a certain LMI. A numerical example is given to illustrate the proposed method.

On Guaranteed Cost Control of Uncertain Neutral Systems (섭동을 갖는 뉴트럴 시스템의 성능보장 안정화에 관하여)

  • Park, Ju-Hyun
    • The Transactions of the Korean Institute of Electrical Engineers D
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    • v.52 no.3
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    • pp.129-133
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    • 2003
  • In this paper, we consider the robust guaranteed cost control problem for a class of uncertain neutral systems with given quadratic cost functions. The uncertainty is assumed to be norm-bounded and time-varying. The goal in this study is to design the memoryless state feedback controller such that the closed-loop system is asymptotically stable and the closed-loop cost function value is not more than a specified upper bound lot all admissible uncertainty. Some criteria for the existence of such controllers are derived based on the matrix inequality approach combined with the Lyapunov second method. A parameterized characterization of the robust guaranteed cost controllers is given in terms of the feasible solutions to the certain matrix inequalities. A numerical example is given to illustrate the proposed method.

A Study of the Economic Valuation of Rural Women's Labor - Agricultural Work and Household Work - (여성농업인 노동의 경제적 가치평가에 관한 연구 - 농업노동과 가사노동 -)

  • 유소이;최윤지;조현숙;김경미
    • Journal of the Korean Home Economics Association
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    • v.41 no.7
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    • pp.157-168
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    • 2003
  • The purposes of this study were to explore the rural women's labor by measuring labor value economically. To achieve the purpose, this study applied four methods : replacement cost method individual function, replacement cost method generalist, opportunity cost method and shadow wage method. The results of this study were as follows: 1) Time used for agricultural work and household work by with women were 5.3 hours and 3.8 hours each. 2) According to the methods used, the amounts of valuing rural women's labor were varied and ranged from 23,000 won to 43,000 won per day. This study might help recognize the degree of rural women's labor contribution to the household income of farm households and improve the socio-economic status of rural women through showing the productivity of the rural women's labor.

Knowledge-Base-System for forging mold and die material selection

  • Fu Tsow-Chang;Hung Chih Cheng
    • Proceedings of the Korean Society for Technology of Plasticity Conference
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    • 2003.10b
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    • pp.94-106
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    • 2003
  • In recent years, the production value of Taiwanese mold and die industries have reached to a high peak in 1998, in amount of NT 604 hundred million dollars. But in recent years production value are going down year by year, till year of 2001 the production value have down to NT 394 hundred million dollars. Its main reason might be the major product were following in medium and low price category, the high accuracy and high cost mold and die still rely on import aboard. Therefore how to made the related technical database system on various field to provide the industry user to promote industries competition ability in mold and die is really urgent matter at this moment. In this research, we will offer how to apply the Visual Basic program language to edit a set of more perfect database system of mold and die material selection. At the present time, we have constructed complete Knowledge-Base-System of intelligence for forging mold and die material, the most related data from the existed data, the others are through our additional experimental results. By using this system by the user can got the related and need data easily, we hope it will reduce designing time and cost for mold and die.

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