• Proceedings of the KIEE Conference
• /
• 2011.07a
• /
• pp.270-271
• /
• 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.

• Journal of Korean Institute of Industrial Engineers
• /
• v.12 no.1
• /
• pp.43-48
• /
• 1986

In this paper, the one period multi-item inventory model is considered in which it is required to determine the production quantity and selling price of each item which maximize the probability of realizing predetermined level of profit. The objective function of this model is the sum of weighted probabilities which represent the possibility of obtaining the predetermined level of profit for each item. Budget constraint, inventory site constraint and constraints of price are considered. Finally this paper shows a numerical example in which random demand of each item has exponential distribution.

• Journal of Distribution Research
• /
• v.4 no.1
• /
• pp.205-216
• /
• 1999

The aim of this study is to analyze the consumers perception of price and the economic benefit of shopping at the various discount-stores. We found that there is a significant difference between the real price level of discount-stores and the firms purporting discount level of their commodities. We also, found that there is a bias between the consumers perception of their monetary profit and the actual economic benefit. It's recommended that consumers should give objective judgement on price level of discount-stores and appreciate rationally the exact profit for them to take the advantage in their everyday life. To increase consumer welfare, it's desirable to improve labeling system on retail prices and regulations on distribution industry as well as the consumers perception of price and their profit level as mentioned above. Additionally, it should be followed that the business side build the consumer-oriented management system.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.21 no.45
• /
• pp.201-213
• /
• 1998

We address the problem of choosing the most economic mean value for an automatic filling operation on a production line through the sampling inspection. If quality characteristic of a unit is less than inspection specification then the goods is not accepted. Otherwise, it is accepted. The lots that the numbers of non-conforming units in a sample are larger than the allowable number of non-conforming units are rejected. The non-conforming units in the rejected lots are separated by the screening inspection. The non-conforming units separated are sold in discount price. We assume that quality characteristic is larger-the-better characteristic, the distribution of quality characteristic is normal distribution, and the standard deviation of the distribution is known. This paper presents total expected profit function model considering sales revenue, inspection costs, and material costs. The manufacturing process mean value maximizing total expected profit is determined, and the results of the process target value and total expected profit is analyzed as coefficients change.

• The Transactions of the Korean Institute of Electrical Engineers A
• /
• v.52 no.4
• /
• pp.234-239
• /
• 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.

• Proceedings of the KIEE Conference
• /
• 2003.11a
• /
• pp.422-425
• /
• 2003

CBP market which is the first stage of competitive electricity market has been operated and the KPX has been established since April, 2001 by restructuring plan for electricity industry. Baseload unit are settled with baseload CP and BLMP in CBP market. The other unit are settled with peakload CP and SMP. The difference of settlement between two groups occurs the profit changes of the unit. This paper analyzes the profit by units under settlement rule in CBP market. It analyzes the difference between market clearing price and variable costs, and fixed cost recovery through CP income. Finally, this paper suggests the plan how market was affected by the difference of fixed cost recovery by generators and how to improve Intermediate and peak load unit's profit.

• Asian Journal of Innovation and Policy
• /
• v.10 no.3
• /
• pp.330-354
• /
• 2021

To know the long-term growth patterns and determinants of successful startups, 15-year (2006-2020) panel data of 252 companies that had a growth rate of over 20% every year in the last three years were used. In the first analysis, statistics on the period required to designate a gazelle company or listed on the stock market were examined. In addition, five long-term growth patterns were presented. In the panel analysis, the R&D intensity, operating profit ratio, size, and age of the company were pointed out as determinants of growth. The operating profit margin and R&D intensity have a positive effect on growth. Gibrat's law was not supported, but an inverted U-shape was observed. Jovanovic's law was confirmed. Although many studies tend not to point to profitability as a determinant of long-term growth, this is an important long-term growth factor of a company. The operating profit ratio was used in this study.

• Korean Institute of Interior Design Journal
• /
• v.22 no.1
• /
• pp.318-327
• /
• 2013

Elderly welfare housing refers to a residential facility with diverse medical and welfare services for cohabitation of elderly. Especially, community shared spaces in the elderly welfare housing plays an important role as a place for community and leisure activities that enhance vitality of elderly life. The purpose of this study was to investigate types, planning characteristics and actual utilization of community shared spaces in for-profit elderly welfare housing. Eight for-profit elderly welfare housing facilities in Seoul and Gyeonggi province were selected for this study and categorized into small-, medium- and large-scale facilities based on the number of housing units. Community shared spaces in the elderly welfare housing were classified into six space types: social space, education space, exercise space, medical space, convenience space and leisure space. Findings are as follows. Small-scale elderly welfare housing facilities with less than 100 housing units had fitness centers, clinics, restaurants, convenience stores and hobby rooms which were required by law. All community shared spaces were planned on a single level. Fitness centers was found the most frequently used while the other spaces were not used very frequently. Medium-scale facilities with 100 to 299 housing units had multi-purpose halls, libraries, swimming pools, indoor and/or outdoor driving ranges, physical therapy centers, saunas, karaokes and so on. Most community shared spaces were found frequently used. Large-scale facilities with 300 or more housing units had religion rooms, community halls, hair salons, pharmacies, etc. In most facilities, community shared spaces were planned in distributed locations.

• Korean Journal of Agricultural Science
• /
• v.25 no.2
• /
• pp.321-328
• /
• 1998

This study was performed to provide reference materials for the vegetable cultivating farmhouses by investigating profit and marketing situation for the folk vegetables. The survey areas covered 10 cities and counties including Kumsan, 72 farmhouses, and 8 crops including buffterbur and wild rocambole. As a result, the cultivated area of folk vegetables was increased as much as 13.7%, however, marketing cost was higher than that of horticultural crops, because they were not accessed to wholesale market. It was that the optimal period to sell the folk vegetables was shown like Jan. - Feb. for butterbur and day lily, Nov. - Dec. for wild rocambole, and Oct. - Nov. for kind of lettuce respectively. As the result of analyzing economical efficiency, the net profit per 0.1 ha was amounted to 3,438,000 won for butterbur, 3.291,000 won for wild rocambole 1,712,000 won for day lily, and 1,464,000 won for fatsia shoots. Besides, these four crops occupied more than 60% in cultivation area, and their profit was high. Therefore, it is necessary to foster them with special crops in Chnugnam area. The crops that require more labor time were such crops as 632.9 hours for day lily, 584.3 hours for butterbur, and 409.2 hours for fatsia shoots, whereas the crops that required less labor time were such field crops as 219.2 hours for fragrant edible wild aster and 233.8 hours for kind of lettuce.

• Journal of Korean Society for Quality Management
• /
• v.46 no.4
• /
• pp.959-972
• /
• 2018

Purpose: This study developed a simulation model that incorporates the uncertainty of demand and yield to obtain optimized results for supply chain coordination within environmental constraints. The objective of this study is to examine whether yield management for perishable products can achieve the goal of supply chain coordination between a single buyer and a single supplier under a variety of environmental conditions. Methods: We investigated the efficiency of a revenue-sharing contract and a wholesale price contract by considering demand and yield uncertainty, profit maximizing ratio, and success ratio. The implications for environmental variation were derived through a comparative analysis between the wholesale price contract and the revenue-sharing contract. We performed Monte Carlo simulations to give us the results of an optimized supply chain within the environments defined by the experimental factors and parameters. Results: We found that a revised revenue-sharing contracting model was more efficient than the wholesale price contract model and allowed all members of the supply chain to achieve higher profits. First, as the demand variation (${\sigma}$) increased, the profit of the total supply chain increased. Second, as the revenue-sharing ratio (${\Phi}$) increased, the profits of the manufacturer gradually decreased, while the profits of the retailer gradually increased, and this change was linear. Third, as the quality of yield increased, the profits of suppliers appear to increased. At last, success rate was expressed as the profit increased in the revenue-sharing contract compared to the profit increase in the wholesale price contract. Conclusion: The managerial implications of the simulation findings are: (1) a strategic approach to demand and yield uncertainty helps in efficient resource utilization and improved supply chain performance, (2) a revenue-sharing contract amplifies the effect of yield uncertainty, and (3) revised revenue-sharing contracts fetch more profits for both buyers and suppliers in the supply chain.