• Journal of the Society of Naval Architects of Korea
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• v.46 no.3
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• pp.362-371
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• 2009

Shipbuilding is a typical 'build to order' industry. It has a business model that generates revenues from building various ships and offshore products in accordance with owner's requirements at each production stage. Under uncertainty in shipping market, it is very essential for the shipbuilder to prepare the fast and competitive decision for product portfolio strategy in order to maximize contribution margin by exploiting production facilities and constraints. In this study, we introduce the unique decision supporting methodology for the optimal product portfolio sets based on Theory of Constraints(TOC). This methodology is established by adopting the concept of Drum Buffer Rope(DBR) in constraints planning and Throughput Accounting (TA) in management accounting of TOC. In addition, Decision Supporting System(DSS) is implemented. This DSS system provides a throughput estimator with reflecting the cost structure of shipbuilding industry and a resource simulator built on heuristic algorithms to operate major constraint-resources in shipyard such as dock, quay and pre-erection area etc. Several examples are presented to show that the proposed methodology and system can effectively support the strategic decision-making process of a global shipbuilding company.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.57 no.4
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• pp.567-575
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• 2008

Transient security assessment(TSA) is becoming an essential requirement not only for security monitoring but also for stabilizing control of power systems under new electricity environments. It has already been pointed out that fast transient stability study is an important part for monitoring and controlling system security. In this paper, we discuss an energy function method for stabilizing control of transiently unstable systems by introducing generator tripping system to enhance the transient stability of power systems. The stabilization with less tripped power can be obtained by tripping the generators faster than out-of-synchronism relay. Fast transient stability assessment based on the state estimation and direct transient energy function method is an important part of the stabilizing scheme. It is possible to stabilize the transiently unstable system by tripping less generators before the action of out-of-synchronism relay, especially when a group of generator are going to be out-of-synchronism. Moreover, the amount of generator output needed for tripping can be decided by Transient Energy Function(TEF) method. The main contribution of this paper is on the stabilizing scheme which can be running in the Wide Area Control System.

• Journal of the Korean Dietetic Association
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• v.16 no.1
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• pp.1-12
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• 2010

This study was conducted to characterize well-being menus and to examine the service frequency and profitability of those served in the contract-managed workplace foodservice. In-depth interviews were conducted with six persons who were in charge of menu management in the headquarters of six different foodservice management companies during March, 2007. In addition, 122 set menus consisting of 777 menu items, which were on one month menus served during January to April, 2007, were collected from three workplace operations managed by three different foodservice management companies. As a result of the in-depth interviews, four categories of well-being menu items were extracted: 'medicinal functional menu item', 'environmentally-friendly menu item', 'natural food menu item', and 'harmful components-limiting menu item'. Accordingly, a well-being menu item was defined as 'a menu item with increased nutrition value or decreased health risk by changing food material or cooking method'. When the menu items (n=777) were analyzed by applying the definition and categories, approximately 14% of the items were identified as well-being menu items and most of them were either medicinal functional (65%) or natural food menu items (33%). Approximately 59% of the 122 set menus included at least one well-being menu item, and therefore they were named the well-being set menus. These well-being set menus, however, were not significantly different from the rest set menus in terms of profitability as measured by the contribution margin. The results of this study could be useful for foodservice management companies to develop and plan well-being menus targeting workplace foodservice operations.

• Journal of Information Technology Services
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• v.18 no.5
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• pp.209-224
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• 2019

When evaluating the performance of a NPD(New Product Development) project, it is common to evaluate the project performance according to the achievement of the planned goal in terms of time, quality and cost management, which are usually three main constraints of the project. The evaluation of the financial factors by which sales contributed to the return of the company is more influential. This is why companies need to increase sales and raise profits. Therefore, it is more reasonable to evaluate the sales performance of NPD projects over a certain period of time against the input costs. At this time, we can analyze the causes of inefficient projects and compare them with other projects and find out how to improve the sales performance to help the company increase its competitiveness. In this paper, we analyze the relative efficiency of the sales performance on the input of the projects by using the actual sales in the period of one year after mass production of the NPD projects of 'S' company in ICT industry. Input factors include developer resource and development cost for the NPD reported after the project has been completed, the delay weeks for the schedule targeted at the project planning stage, and the number of quality issues due to development design faults during initial mass-production. The sales figure and the contribution margin of the product after one year from the start of mass production are defined as the output factors. In this paper, we analyze the efficiency of the projects by using data envelope analysis (DEA). As a result, we found out the reason of the inefficient project of DMUs according to the differences in the characteristics of the efficient and inefficient B2B markets based on the result of DEA of NPD projects. Thus, the goal of this paper is to identify strategies for improving sales performance of NPD projects in inefficient markets.

• The Journal of Korean Institute for Practical Engineering Education
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• v.2 no.1
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• pp.106-114
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• 2010

HRDI(Human Resources Development Institute) has not performed the efficient costing model because of it's variety types of institutes, courses and vocational education and training techniques. This study proposed the integrated costing model using job costing, activity based costing and standard costing methods to meet needs of HRDI. And the model will be used in two-phased approach including adoptable model and ideal model. The integrated model includes costing techniques, cost elements, indirect cost allocation bases and cost analysis methods using a contribution margin model to calculate and analyse cost information in HRDI. The proposed integrated costing model of HRDI has some limitation of no relationship with the performance management. But this model will prepare valuable information by using detailed data and costing techniques. And then this model will be developed as a advanced costing model using standard costing to relate with the performance model.

• Korean Journal of Community Nutrition
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• v.8 no.1
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• pp.62-70
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• 2003

This article aims to summarize the development and application of menu engineering technique, 'Menu Engineering Modified by Preference (MEMP)'. The site selected for this project was a foodservice operation in Yonsei University residence hall. Sales and food costs data were collected from the daily sales reports for 1 month, and the survey of food preference was conducted during May, 1999. Statistical data analysis was completed using the SAS/Win 6.12 for descriptive analysis. The calculation for menu analysis were carried out with MS 2000 Excel spreadsheet program. This MEMP technique developed had 6 category criteria and 2 dimensions of the contribution margin (CM) and the menu mix modified% (MMM%) . The MMM% was calculated by the sales volumes and also weighted by food preference. The CM and MMM% for each item were compared with a mean menu CM as well as a 70% rule. Four possible classifications by MEMP were fumed out as 'STAR', 'PLOWHORSE', 'PUZZLE', 'DOG'. 'STAR' items were the most popular and profitable items and required to maintain rigid specifications for quality. The decision actions for 'PLOWHORSE' menu items which were relatively popular, but yield a low menu average CM included combining a plowhorse item with lower cost products and reducing the frequency of serving or serving size. There was a need for 'PUZZLE' items to be changed in the menu combination, improve recipe, and promote menu. The last DOG' items were desired to be deleted. This study demonstrates that menu information can be interpreted more easily with MEMP. The use of MEMP is therefore an effective way to improve management decisions about menu of university residence hall foodservice.

• Journal of the Korean Society of Food Culture
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• v.21 no.6
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• pp.629-637
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• 2006

This exploratory study is to analyze the status of star menus and suggest the development strategy of star menus in the western restaurants of the tourism hotels in Seoul. The data was collected from the chefs who have been working over 15-years in tourism hotels in Seoul by judgement sampling. The questionnaire was composed of Miller and Pavesic's 'Fifty tips for a successful menu' and Khan's 'The evaluation of menu item development', The 30-menu items were selected from the 1st survey on the menu items that were high in both popularity and contribution margin by menu engineering method. The selected menu items were analyzed by 14 lists: simplicity, ready availability of ingredients, quality, flavor, presentation, preparation, service method, nutrition quality, preference, profitability, serving temperature, descriptive copy of menu and publicity. As a result of the study, appetizer category was recorded the highest score by 4.09. Smoked salmon, Tomato and mozzarella cheese, Cream of mushroom, Cream of asparagus, French onion soup, Grilled beef tenderloin, Grilled rib-eye steak, Roasted lamb rack, King prawn, Seafood spaghetti, Chef's salad, Caesar salad, Organic salad, Fruit plate, Italian tiramisu and Yogurt ice cream were recorded high score. The development strategy of star menu is belows : the menu writer must consider the productivity, effectiveness, popularity and profitability, the regular customers want varieties and creativity in the menu and the operators have to include the star menu items in the set menu.

• Journal of Nutrition and Health
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• v.42 no.1
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• pp.78-96
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• 2009

The purpose of this study was to analyze and evaluate the menu served in government offices foodservice by using Kasavana & Smith's Menu-Engineering. Sales and food costs were collected from the daily sales reports for a year from Jan 2 to Dec 31 in 2007. Calculation for menu analysis and customer's data were done by computer using the MS 2003 Excel spreadsheet program and SPSS 12.0 package program. Menu mix% (MM%) and unit contribution margin were used as variables by Kasavana & Smith. Four possible classifications by Menu-Engineering technique were turned out as 'STAR', 'PLOWHORSE', 'PUZZLE', 'DOG'. The main menus served during a year were 128 dishes and about 141 peoples visited this restaurant daily. The mean age of the men was $44.1\;{\pm}\;6.3$, women were $32.7\;{\pm}\;6.4$ and showed that was statistically higher than that of women (p < .0001). The rates of STAR menus were 'Western style (75.0%)', 'guk/tang-ryu (48.1%)', 'jjigae/ jeongol-ryu (23.1%)', 'bap-ryu (17.2%)' in sequence. There were no STAR menus in gui/jorim/jjim-ryu. PLOWHORSE menus were 'gui-ryu (75.0%)', 'guk/tang-ryu (29.6%)', 'bap-ryu (27.6%)' in sequence. There were no PUZZLE or DOG menus in 'jjigae/jeongol-ryu'. PUZZLE menus were 'jorim/jjim-ryu and Myeonryu (each 33.3%)', 'bap-ryu (31.0%)' in sequence. PUZZLE menus were a lots of 'Chinese food (75.0%)' and 'myeonryu (55.6%)'. This study provides the basic data based on regularly menu analysis method applied the scientific menu analysis techniques in government offices food services, I'd like to suggest that the menu management must be done based on the necessity and result of menu analysis according to the seasonal and middle, long-term plans.

• Journal of Distribution Science
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• v.11 no.4
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• pp.61-72
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• 2013

Purpose - It is widely accepted that the process of developing marketing strategy is composed of three steps: market segmentation, target market selection and positioning. However, mass marketing strategy based on cost reduction through economies of scale and standardized products, can be also an effective strategic option. Many marketing scholars including Theodore Levitt emphasize the importance of applying the mass production concept to various industries including service industries. Especially, in times of economic downturn, the capability of providing consumers with low-priced, value products can be an important source of competitive advantage, as well as the ability of providing high-priced premium products. Marketers should decide whether they will implement mass marketing strategy or target marketing strategy. The present study theoretically shows that firms should understand the target customers' price elasticity as well as the firm's cost structure in order to make such a strategic decision. Research design, data, and methodology - Instead of implementing an empirical study, this study provides a theoretical(mathematical) investigation on the effect of consumers' price elasticity on a firm's optimal price level, profit, sales volume, revenue, and cost. The results are mostly deduced from derivative calculations and several graphs are utilized to represent the results on the relationships between the variables under study. Results - The analytical results suggest that it is more profitable for a firm to adopt the segment/target marketing strategy (more specifically the differentiation strategy) when the degree of consumers' heterogeneity is high and the proportion of the fixed cost in the total cost is low. On the other hand, if the degree of consumers' heterogeneity is low and the fixed cost is high, it is better to adopt the mass marketing strategy or the cost leadership strategy. The strategy of concentrating on a single target market will be effective when consumers' needs are highly heterogeneous but the fixed cost is high. Any of the three types of generic strategies proposed my Porter(1980, 1985) can be applied when both the consumers' heterogeneity and the fixed cost are low. This study also proposes the contribution-margin-based method for developing the optimal pricing strategy. Conclusions - One of the primary roles of marketers is to find a proper compromise between the two conflicting goals of maximizing customer satisfaction and minimizing cost. In order to do so, he or she should understand the characteristics of the target customers as well as the cost structure of the firm. In addition to the theoretical analyses, this study discusses several business cases and explains how superior companies find the optimal compromise position between these two goals and dominate the market. One of the radical changes recently taking place in business arena is the reduction of production and distribution costs of both physical goods and information due to the advancement and the wide diffusion of information technology. The cost reduction combined with lowered priced elasticity incurred by customized products and services, will enable many firms to adopt the mass customization strategy.

• Korean Chemical Engineering Research
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• v.56 no.5
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• pp.655-662
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• 2018

To respond effectively to climate change following the launch of the new climate system, the government is seeking to expand the use of distributed power resources. Among them, the district heating system centered on Combined Heat and Power (CHP) is accepted as the most realistic alternative. On the other hand, the government recently announced the change of energy paradigm focusing on eco-friendly power generation from the base power generation through $8^{th}$ Basic Plan for Long-term Electricity Supply and Demand(BPE). In this study, we analyzed the quantitative effects of profit and loss on the CHP operating business by changing patterns of the heat production, caused by the change of energy paradigm. To do this, the power market long-term simulation was carried out according to the $7^{th}$ and $8^{th}$ BPE respectively, using the commercialized power market integrated analysis program. In addition, the CHP operating model is organized to calculate the power and heat production level for each CHP operation mode by utilizing the operating performance of 830MW class CHP in Seoul metropolitan area. Based on this, the operation optimization is performed for realizing the maximum operating profit and loss during the life-cycle of CHP through the commercialized integrated energy optimization program. As a result, it can be seen that the change of the energy paradigm of the government increased the level of the ordered power supply by Korean Power Exchange(KPX), decreased the cost of the heat production, and increased the operating contribution margin by 90.9 billion won for the 30 years.