• Title/Summary/Keyword: financial efficiency

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Standardization Strategy of Smart Factory for Improving SME's Global Competitiveness (중소기업의 글로벌 경쟁력 제고를 위한 스마트공장 표준화 전략)

  • Chung, Sunyang;Jeon, Joong Yang;Hwang, Jeong-Jae
    • Journal of Korea Technology Innovation Society
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    • v.19 no.3
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    • pp.545-571
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    • 2016
  • The development of ICT brings a big change in manufacturing industries, and new information technology such as IoT, AR, and big data was applied on manufacturing process. As a result, the concept of smart factory has been introduced as a new manufacturing paradigm. In fact advanced countries like USA, Germany, and Japan have actively introduced smart factory in their manufacturing industries such as electronic, automobile, machinery, to improve production efficiency and quality. The manufacturing environment has been changed into flexible system, so that smart factory will be leading future manufacturing industries. Thes changes have more severe influence on Korean manufacturing industries. Mny industrial companies, have a strong interest in smart factory and they, particularly big enterprises, have been adopting smart factory to increase their manufacturing efficiencies. However, Korean small and medium-sized enterprises (SMEs) have many financial and technological difficulties so that the diffusion of smart factory in Korean SMEs has not been satisfiable up to present. However, smart factory is very important for enhancing their competitiveness in global market. Therefore, this study aims at identifying the standardization strategy of smart factory in so-called Korean 'roots industry' by presuming that the standardization will activate the diffusion of smart factory among Korean SMEs. For this purpose, first, this study examines the competitiveness of SMEs, especially in 'roots industry' and identifies the necessity of diffusion of smart factory among those SMEs. Second, based on the active review on the existing literature, this study identifies four factor groups that would influence the adoption or diffusion of standardized smart factory. They are technological, organizational, industrial and policy factors. Third, using those four factors, this study made two comprehensive case analyses on the adoption and diffusion of smart factory. These two companies belong to molding sector which is one of the important six sectors in 'root industry'. Finally, based on the theoretical and empirical analyse, this study suggests four strategies for activating the standardization of smart factory; international standardization, government-leading standardization, firm-leading standardization, and non-standardization.

A Study on the Financing Decision of Retail Firms Listed on Korean Stock Markets (유통 상장기업들의 자본조달 특징에 관한 연구)

  • Yoon, Bo-Hyun
    • Journal of Distribution Science
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    • v.12 no.10
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    • pp.75-84
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    • 2014
  • Purpose - This article aims to examine whether the stock issuance of firms in the retail industry follows Myers' (1984) pecking order theory, which is based on information asymmetry. According to the pecking order model, firms have a sequence of financing decisions, of which the first choice is to use retained earnings, the second one is to get into safe debt, the next involves risky debt, and the last involves finance with outside equity. Since the 2000s, the polarization of the LEs (Large enterprises) and SMEs (Small and Medium Enterprises) arose in the retail industry. The LEs exhibited an improvement in growth and profitability, whereas SMEs had a tendency to degenerate. This study contributes to corroborating the features of financing decisions in the retail industry distinguished from the other industries. Research design, data, and methodology - This study considers the stocks listed on the KOSPI and KOSDAQ markets from 1991 to 2013, and is more concentrated on the stocks in the retail industry. The data were collected from the financial information company, WISEfn. The empirical analysis is conducted by employing two measures of net equity issues (and), which were introduced in Fama and French (2005), and can be calculated from firms' accounting information. All variables are generated as the aggregate value of the numerator divided by aggregate assets, which, in effect, treats the entire sample as a single firm. Substantially, the financing decisions of the firms were analyzed by examining how often and under what circumstances firms issue and repurchase equity. Then, this study compares the features of the retail industry with those of the other industries. Results - The proportion of sample firms that show annual net stock issues reaching the level of the year's average was 54.33% for the 1990s, and fell to 39.93% per year for the 2000s. In detail, the fraction of the small firms actually increases from 45.08% to 51.04%, whereas that of large firms shows a dramatic decline from 58.94% to 24.76%. Considering the fact that the large firms' rapid increase in growth after the 2000s may lead to an increase in equity issues, this result is rather surprising. Meanwhile, net stock repurchases of assets are considerably disproportionate between the large (-50.11%) and the small firms (-15.66%) for the 2000s. Conclusions - Stock issuance of retail firms is not in line with the traditional seasoned equity offering based on information asymmetry. The net stock issuance of the small firms in the retail industry can be interpreted as part of an effort to reorganize business and solicit new investment to resolve degenerating business performance. For large firms, on the other hand, the net repurchase can be regarded as part of an effort to rearrange business for efficiency and amplifying synergy across business sections through spin-off. These results can help the government establish a support policy on retail industry according to size.

Study on the Development and Application of Image Viewer System (Image Viewer System의 개발 및 적용에 관한 고찰)

  • Yang, Oh-Nam;Seo, In-Ki;Hong, Dong-Ki;Kwon, Kyeong-Tae
    • The Journal of Korean Society for Radiation Therapy
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    • v.18 no.2
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    • pp.67-73
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    • 2006
  • Purpose: The number of patients receiving radiotherapy has increased every year and will keep increasing in the future. Therefore, the technique of radiotherapy is developing from day to day, as a result of it, the quantities of image and data used for radiotherapy are also considerably increasing. Therefore, there have been many difficulties in storing, keeping and managing them. Then, we developed and applied this system for improving complicated work process as well as solving these problems with the collaboration Medical Information Team. Materials and Methods: We exported its image at R & V (Record and Verify: Varis vision, Varian, USA) system and planning system after giving some code to be able to access from management system(RO) for department of radiation oncology to PACS. And, we programmed their information by using necessary information among many information included in DICOM head. Results: All images and data generated by our working environment (Simulation CT, L-gram image and internal body structure, DRR, does distribution )were realized at PACS and it became to be possible for clear image to be printed from any computer in department of radiation oncology. Conclusion: It was inevitable to use film during radiotherapy for patients in the past, however, due to the development of this system, film-less system became to be possible. Therefore, the darkroom space and its management cost in relation to the development process disappeared and it became to be unnecessary for spending tangible and intangible financial expense including human resources, time needed for finding film storing space and film and purchasing separate storing equipment for storing images. Finally, we think this system would be very helpful to handle ail complicated processes for radiotherapy and increasing efficiency of overall working conditions.

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Analysis of Consumer's Recognition and Satisfaction for the Improvement of the Doctor-Designation System (선택 진료 제도 개선을 위한 소비자 인식도와 만족도)

  • Im, Bock-Hee
    • Journal of Digital Convergence
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    • v.12 no.6
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    • pp.385-396
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    • 2014
  • The purpose of this study was to examine the recognition of citizens in Busan on the doctor-designation system, the awareness of medical consumers with experience of using this system and their satisfaction in an effort to seek ways of improving this system. The subjects in this study were the selected citizens in Busan who were at the age of 20 and up. As a result, it's found that the largest group of the respondents was female, in their 20s, received college or higher education, students and in the service industry, and that the most common monthly mean income was between two and 2.99 million won. 27.7 percent were aware of the doctor-designation system, and 23.7 percent became cognizant of the system through others who had used it. The rate of knowing the rules of the doctor-designation system (the right answer) stood at 66.3 percent. They got to know about the system through mass media(31.9%), and used it since it offered highly specialized treatment(57.5%). The respondents who had used it intended to reuse it(76.3%), and the reason was that they were provided with high-class medical services (35.2%). The respondents who had used this system got a mean of 2.96 in satisfaction level, which was not high in general. They mentioned more publicity efforts(91.2%), offering information in a conspicuous place (96.7%) and cutting doctor-designation treatment fee as a means of improving this system. As for how to ensure the operating efficiency of the system, sustained publicity seem to be necessary to raise awareness of the system among patients, and it's required to take measures to relieve patients of financial burden caused by medical bills.

OBU and System Development for HiPassPlusCard Nation-Wide Interoperable Transportation Card (하이패스플러스카드 전국호환 교통카드용 OBU 및 시스템 개발)

  • Jee, Dong-Mok;Lee, Ki-Han;Kim, Hye-Hyeon;Kim, Tae-Hee;Maeng, Jae-Hwan;Park, Ha-Na
    • The Journal of The Korea Institute of Intelligent Transport Systems
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    • v.9 no.4
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    • pp.90-101
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    • 2010
  • The existing HiPassPlusCard system is composed of the HiPassPlusCard, a Purchase SAM, a Purchase terminal, a settlement system and OBU. However, this system is confronted by the problem with its incompatibility. This problem occurred because the technology companies made cards in their own ways in respect of the parts which were not yet set by KS standard. Thus if existing HiPassPlusCard user wants to use any other public transportations, user would have to buy other cards and have to bring all them. Also if the HiPlusCard wants to extend their business to apply its technology into infrastructure of the other companies, the HiPlusCard has to construct infra independently so that it causes the such problems of duplicated investment. To solve these problems, we have analyzed and upgraded the existing HiPassPlusCard system, and we designed and developed the Nation-wide Interoperable HiPassPlusCard system. Then the conformity test demonstrated that it is efficiency-oriented and technically performs well. Also we, the HiPlusCard, the Korea Financial Telecommunications & Clearings and the KORAIL NETWORKS, run the Test-bed in Gwangju for 6 months. The test-bed indicated that Nation-wide Interoperable HiPassCard system practically works well.

A Study on Trade Automation in Korea (한국의 무역자동화에 관한 고찰)

  • 전재경;이재승
    • Journal of the Korea Society of Computer and Information
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    • v.3 no.3
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    • pp.139-150
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    • 1998
  • Due to development of science and telecommunication with wide-spread computer supply, it could be done through computer automatically instead of manpower-work for paper transportation & paper approval. It is developed to so-called Factory Automation. Further, it is developed to Office Automation. Trading companies & concerned trade authorities are interested in Trade Automation that such technique is applied to trade work. Generally, Trade Automation means to realize paperless trade by exchanging electronic papers through inter-computers after concerned trade operators transformed various papers to electronic papers that computer could read. In case Trade Automation fix in the trade business, it is expected one of innovations among traditional paper work of trade business, namely without going import-export authorities, Customs office, Banks. Shipping companies, Marine insurance companies on hand-carrying papers, it could be fast, simple, correct to finish every trade procedures such as commercial business, foreign currency, customs clearance, transportations, insurance. terms of payment, etc., with Electronic Data Interchange through computer facilities. Especially, telecommunication for trade form could be helpful to proceed trade paper with one-run-method Further we can anticipate 6 effects for Trade Automation as belows : First, as explained just above articles, with completion for Trade Automation, every trade procedures can be done by computer. so, time to work can be diminished. namely. logistics cost including accessory costs for trade procedures can be saved much. Second, viewing to private enterprise, effect of Office Automation can be maximized and rapid, correct exchange for various trade informations could raise efficiency of enterprise management establishing rational production, storage, transportation and could raise competition improving standard for consumers's service. Third, establishing Trade Automation systems makes it easier piling-up of harbor cargo by pre-transmission of electronic paper & trade informations make it possible to finish customs clearance in advance and can be dispatched upon cargo arrival. Fourth, most of concerned trade authorities such as import-export approval office. financial authorities, transport & insurance companies concentrated in Metropolitan area(Seoul, In -Cheon, Kyung-Ki). Therefore, in case Trade Automation could be realized. it is possible to proceed trade business instantly in every country area by computer facilities. Also. it contribute well-balanced development for suburb. region area by suburb dispersion of trading companies. Fifth, on the way to Trade Automation establishment & its enlargement process. producing enormous demand for over-all telecommunication such as hardware. software. network makes opportunity to progress telecommunication industry & concerned industries. Finally. Trade Automation accelerate change of employment structure leading unnecessary labors on the industries of office & logistics to manufacturing area.

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Study on Optimization for Construction Vertical Lifting with Transfer Operation for Super High-rise Buildings (초고층 건축공사의 리프트 수직 환승운영 최적화 방안 연구)

  • Moon, Jooyong;Park, Moonseo;Lee, Hyunsoo;Jung, Minhyuk
    • Korean Journal of Construction Engineering and Management
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    • v.15 no.6
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    • pp.53-62
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    • 2014
  • Recently, the number of super high-rise building projects have been increased after recovering from international financial crisis. In super high-rise building project, vertical lifting is critical to overall project productivity, due to its limited lifting equipments. Also for projects which buildings' height are higher than 400m, transfer operation in lifting is inevitable because of lifts' maximum lifting height. In transfer operation, setting a transfer floor is essential for saving lifting time of resources. In this research, using discrete event simulation modeling with AnyLogic 7.0 software and metaheuristic optimization with OptQuest software, the method of optimizing a transfer floor for workers during the morning peak time is proposed. Comparing to the result of the case which transfer floor is designated to the middle floor, setting optimized transfer floor significantly decrease the total lifting time of workers. By using proposed simulation and optimization tool, saving budget and time through increasing available working hour is expected.

Predicting Financial Success of a Movie Using Bayesian Choice Model (베이지안 선택 모형을 이용한 영화흥행 예측)

  • Lee Gyeong-Jae;Jang U-Jin
    • Proceedings of the Korean Operations and Management Science Society Conference
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    • 2006.05a
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    • pp.1851-1856
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    • 2006
  • 영화는 대표적인 경험재로 가치판단이 주관적이고 제품 수명주기가 매우 짧아 예측의 불확실성이 높기 때문에 이를 정량적인 방법으로 모형화하기는 쉽지 않다. 이러한 한계점에도 불구하고 한 영화의 상업적 성공을 예측하는 것은 영화 제작자나 배급사, 극장 등 모든 주체에게 수익과 직결되는 중요한 문제이기 때문에 지금까지 다양한 통계 모형이 제시되었다. 그러나 이들 모형의 대부분은 영화흥행에는 영향을 미치나 측정할 수 없는 효과를 반영하지 못한다거나, 추정 모수의 효과가 모든 영화에 대해서 같다는 동일성 가정으로 인해 영화간 이질성을 고려하지 못하고 있다. 따라서, 본 연구에서는 추정 모수의 사전분포를 모호사전분포로 정의함으로써 변수들의 불확실성을 반영할 수 있고, 영화간 이질성을 고려할 수 있는 베이지안 선택 모형을 제안하였다. 모수의 사후분포는 마코프체인 몬테카를로 기법인 깁스 샘플러를 이용하여 추정하였다. 또한, 감독, 배우, 장르 등의 영화 별 속성 변수뿐만 아니라, 입소문에 의한 영화관람 결정 등의 구전효과와 경쟁영화의 개봉으로 인한 효과를 반영할 수 있는 변수를 추가하여 모형의 정확성을 높였다. 2005년과 2006년 상반기에 상영된 영화를 바탕으로 모형을 구축하고 인공신경망 모형과 비교한 결과, 전체적인 예측 정확도에서는 인공신경망 모형과 비슷한 결과를 보이나 상업적으로 성공한 영화를 예측하는 데에는 베이지안 선택모형이 보다 더 우수한 것으로 나타났다. 또한, 개봉 주의 경쟁심화 정도 및 개봉 첫 주의 스크린 수 등이 영화 흥행에 가장 중요한 변수로 나타났으며, 영화 개봉 전 그 영화에 대한 기대치가 높을수록 흥행 성적 또한 좋음을 알 수 있었다. 배우의 힘 및 계절성, 영화 평점 등은 이질성을 고려하지 않은 전체수준에서는 통계적으로 유의하지 않은 것으로 나타났으나, 그룹 간 이질성을 반영한 모형에서는 어느 정도 흥행한 영화를 만들기 위해서는 고려되어야 할 요소로 나타났다.렇지 않을 경우 적절한 벤치마킹 대상을 도출할 때까지 추가적인 분석과정을 반복한다. 제안한 방법을 통하여 조직은 기술적 생산 가능성 외에도 다양한 조직 운영 관점에서 적절한 벤치마킹 대상을 선정할 수 있으며, 이에 따른 목표를 수립할 수 있을 것으로 기대한다. 또한 더 나아가 global efficiency 관점에서 효율적 조직이 되기 위하여 단계적인 벤치마킹 대상 선정과 이에 따른 목표를 수립하는데도 유용하리라 판단된다.$1.20{\pm}0.37L$, 72시간에 $1.33{\pm}0.33L$로 유의한 차이를 보였으므로(F=6.153, P=0.004), 술 후 폐환기능 회복에 효과가 있다. 4) 실험군과 대조군의 수술 후 노력성 폐활량은 수술 후 72시간에서 실험군이 $1.90{\pm}0.61L$, 대조군이 $1.51{\pm}0.38L$로 유의한 차이를 보였다(t=2.620, P=0.013). 5) 실험군과 대조군의 수술 후 일초 노력성 호기량은 수술 후 24시간에서 $1.33{\pm}0.56L,\;1.00{\ge}0.28L$로 유의한 차이를 보였고(t=2.530, P=0.017), 술 후 72시간에서 $1.72{\pm}0.65L,\;1.33{\pm}0.3L$로 유의한 차이를 보였다(t=2.540, P=0.016). 6) 대상자의 술 후 폐환기능에 영향을 미치는 요인은 성별로 나타났다. 이에 따른 폐환기능의 차이를 보면, 실험군의 술 후 노력성 폐활량이 48시간에 남자($1.78{\pm}0.61L$)가 여자($1.27{\pm}0.45L$)보다 더 높게 나타났으며 (t=2.170, P=0.042), 72시간에도 역시 남자($2.16{\pm}0.56L$)가 여자($1.50{\pm}0.47L$)보다 더

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Performance Analysis on Foreign-invested Firms in the SEZ (경제특구 입주 외국인투자기업의 성과 분석)

  • Choi, Yong-Seok;Song, Yeongkwan
    • KDI Journal of Economic Policy
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    • v.37 no.sup
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    • pp.87-121
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    • 2015
  • To attract more FDI inflows, the Korean government has designated several special economic zones (SEZs), offering various advantages and support to the FDI. There is, however, a shared acknowledgement that those efforts have gained little reward. In this regard, this paper empirically analyzes company-level performances of labor productivity, operating profit ratio, propensity to invest and innovate, etc. and then conducts regression analysis and PSM analysis to see whether these performances are meaningfully different between foreign-invested firm and domestic firm and between foreign-invested firms. The main findings of this paper are as follows. First, in the aspects of labor productivity and operating profit ratio, no empirical evidence was found to support the hypothesis that foreign-invested firm outperforms domestic firm in efficiency and profitability, Second, in the aspects of propensity to invest, foreign-invested firms in foreign investment zones outperformed domestic firms. Third, in the aspect of R&D investment, overall, foreign-invested firms showed a stronger propensity to invest than domestic firms, but there is no empirical evidence that high propensity to invest was driven by the policy on special economic zones. In the aspect of investment in educational training, empirical evidences were found that the role of foreign-invested firms outside the special zones turned out to be the strongest and that among firms inside special zones, it was those in the free economic zone that outperformed domestic firms. Lastly, foreign-invested firms showed a stronger propensity to employ than domestic firms, but there is no empirical evidence that high propensity to employ was driven by the policy on special economic zones.

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Cooperative Education Between Industry and School Recognized by Teachers in Charge of Cooperative Education Between Industry and School in Vocational High School in Incheon Area (인천지역 특성화 고등학교의 산학협력 담당교사가 인식하는 산학협동교육)

  • Ahn, Jaeg-Gong;Go, Chang-Ryong;Yi, Sang-Bong
    • 대한공업교육학회지
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    • v.36 no.1
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    • pp.47-73
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    • 2011
  • The purpose of the study was to examine cooperative education between industry and school recognized by tentatively called managers of cooperative education, teachers in charge of cooperative education between industry and school, in vocational high school in Incheon Area. In order to accomplish the study purpose, the study conducted a research through questionnaire and examined their recognition for cooperative education between industry and school focusing on curriculum (purpose and content), operational system including supporting system (establishment and operational level) and educational type (process, effectiveness, problems and reinforcing measures). The study conducted a survey using Likert 5 score scale and analyzed the survey results using technical statistics such as frequency, average, standard deviation, etc. From the comprehensive results from the survey, it was found that although outcomes from industry-school cooperation are relatively high, participation is insufficient and intermediating organizations connecting concerned parties and mediating them are not enough because recognition and will of interested parties of industry-school cooperation are not sufficient. In addition, policies, legal and systematical and financial infrastructure for activation and efficiency of industry-school cooperation are not established perfectly, therefore, there are a lot of things to be improvement in operation. In particular, it was observed that establishment of internal organization and infrastructure for the number of workers in vocational training organizations are decisively inadequate.